Advice You - Business

What I’m doing right now in my business will show up as results in three months. Why? Because of “lag time.” True momentum is gained over time. I have discovered it takes about 100 days for the results of my actions to really become evident.

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

I call this the 100-Day Rule, and you’ll need to create a 100-Day Plan to keep you focused and moving in the right direction.

Here’s how the 100-Day Rule works. Whatever you are doing right now, today, will affect your business in 100 days

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

Examples of combination products may in

If you’re busy searching for new business two hours a day, you’ll have fantastic results in 100 days. If you occupy yourself with paperwork and minutiae, allowing them to consume all of your time, then 100 days from now you’re going to be f

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

ustrated because you won’t be generating the results I know you truly desire.

After a short time working together, clients will often ask me, “What is the problem – why aren’t things happening for me now?” My response is (always): “What wer

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

you doing 100 days ago?” Those are the results you’re getting today! It should make you think, and open your eyes to realize the importance of today’s activities, and the thoughts, you are (or are not) putting into pre-planning them.

I oft

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

Combination pro

n see my clients get focused, take massive action, network, make phone calls, have a calendar full of meetings, and see no immediate results in month one. They see some measurable results in month two, and then, bang! Amazing results and tru

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

momentum occur for them in month three.

The 100-day Rule will keep you going because it will help you understand what is happening in your business and why. You’re less likely to become discouraged and quit when you understand this concept

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

It’s fun to be looking days ahead, and it takes the pressure off while you’re working your current plan.

Don’t beat yourself up for what you did, or didn’t do, 100 days ago. It’s what you do today that is important. When you accept this ru

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

e, it’s much easier to persevere in the face of “downturns.”

Coach’s Command: To create a strong, stable, constantly growing business, always be thinking and working 100 days out.

Here’s how to make sure your business plan pays off: create

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

a 100-Day Plan, and update it every single month. Meaning, you will actually create 12 100-Day Plans each year … starting with January 1st – April 10th, then the beginning of February, create a new 100-Day Plan – the dates of this one will b

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

February 1st – May 10th. This will keep you consistently moving in the right direction, with on-going, effective check-ins to keep you on track.

Begin your 100-Day Plan with a mini-vision statement, accompanied by a purpose statement. Thes

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

Following aspects would a

two statements will be your guiding light, reminding you not only what you’re excited about, but why.

Next, create empowering descriptors for yourself, such as “progressive, educated leader” or “marketing maven.” In other words, do you wan

dd to the challenges in developing combination products:

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

to be “in shape” or a “goddess?” Give yourself a reputation to live up to, using the most energizing, positive words you can think of. Words are incredibly powerful, be particularly alert to the words you use to describe yourself and the ac

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

ions you want to take. These powerful descriptions of you will help create and maintain a desire to continue, even when the going gets tough. Your plan should include three areas of focus. Depending on which areas of your business need growt

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

, development and management, you’ll pick the three most important.

Do you need more contacts? Are you getting, but not closing, presentations? Do you have plenty of customers, but want to improve your relationship with them? Pick the top t

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

ree, most crucial to be the focus areas for this particular 100-Day Plan. Keep in mind that you’ll be re-tooling, modifying and updating your plan monthly. You want your plan, and your business, to be balanced.

Coach’s Example: As you are f

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

Professional from academic institutions, pharmaceutical industries, health care indust

cusing on current sales, remember to look for new business and be constantly networking to keep your momentum going.

Next, define your resources. I’m not talking about cash resources here. I’m talking about people you know, books, seminars,

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

and other business tools. Your resources are invaluable, in that they are a well you can draw from to maximize results. The more resources you have available, the easier your path to success can be.

Of course, you’ll add in your goals – mak

.

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

ng them to fit within the 100-Day timeframe.

The last section of your 100-day Plan is the “Next Steps” section. This includes everything you can think of that needs to be done for you to reach your goals in the next 100 days. Like a to-do l

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

Companies that provide selfless information through particip

st, you are going to prioritize each item according to what is most important, then what’s next most important … repeating until the list is completed.

To get your 100-Day Action Plan, download it free on my website at http://www.Corpron.co

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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Author and talk show host believes that culture is more important than strategy. Companies that focus on vlaues-based service will always draw more customers than those whose main focus is on their strategic plans.

Have you join the legions of people that now believe meetings are a total waste of time?A widening body of research is now showing that employees equate meeting rooms with wasted time. Many feel that time spent in the meeting room is time that takes them to totally away from their responsibilities.

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