Advice You - Business

When you are your own boss you know it’s hard to be off duty. New ideas and thoughts pop into your mind at the most inconvenient of

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

times. This is something we should always remember as you are always an ambassador for your business.

1. Whenever you meet new

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

people, spend your time listening to them. People will more readily talk about themselves. Remember that everyone you meet is a potenti

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

al customer, lead to a potential customer, or recommend you to a potential customer.

2. Always ask new contacts for their busi

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ness card, it’s so much better than offering them to take yours, and only offer your card if invited to do so. Human nature dictates tha

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

t’s they will happily give you their card, however they might lose yours or only accept it to be polite. Remember your business cards cost

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

YOU money, whereas theirs cost you nothing.

3. Make sure you enter their email address as a friend in your spam filter so yo

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

u don’t block their return email.

4. Look at their website. Having made the new contact, reinforce it, with a brief “nice to me

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

et you” email, and refer to some point that they raised in the conversation or some point of interest on their website.

5. Make

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

sure you enter their details into your contact manager, such as Outlook, whilst their details are fresh in your mind, recording any other

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

personal information, such as birthdays.

6. Having exchanged emails, quickly follow on with a phone call, (This is Jack Spar

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

row , from The Black Pearl etc, ie full name and importantly your business name) confirming they had received your email. Check back to yo

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ur only prior conversation. Remember they will probably have a spam filter too. Let them know if your email to them bounced back as they

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

could also be losing valuable leads? Your goal is to cement yourself in their memory

7. Leave things for two weeks or so then

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

if you have a free product such as a newsletter or a useful resource on your website or even a blog which they may be interested in, or

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

contributing to, send them a link.

8. Never be afraid of asking people for advice or a contribution. How you use it is up to yo

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

u, and it flatters them in being asked.

9. Categorise your contacts in a useable fashion, to which way your business might targ

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

et them. It could be by demographics, or by number of dependants, or on turnover/income.

10. Forward on any contacts that you m

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ay already have could prove beneficial, or ones who they would enjoy meeting.

Your goal is to make yourself invaluable and unfo

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

rgettable. The art of PR is to follow up both immediately and continually in order to cement a lasting business relationships.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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More and more, I hear brand new truck drivers contemplating the lease purchase programs many companies are now advocating. It never ceases to amaze me how these companies will target new drivers. Swift Transportation and Prime Trucking are two of the most aggressive lease purchase companies out there, but it seems all of the companies have jumped on the band wagon.

When branding a product or your business it is important that you give your consumers what you have promised them from the beginning. Two branding musts that will ensure success are - one, make a promise for life and two, be consistent in your market. Learn how one company made giant waves in the consumer spending pool.

Customer satisfaction and sales growth run on parallel tracks. Discover whether your businss is satisfying your customers by asking just one question and use the answer to determine whether you are gaining in the customer service battle.

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