Advice You - Business

Increase sales is the mantra from Fortune 100 companies to the smallest of the small businesses. The U.S. economy is growing with the Dow over 12,000 point and everyon

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

e is looking for more business results. So what is keeping you from achieving more business success? Even though we know that there is no magic pill to increase sales,

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

Examples of combination products may in

there may be one secret or key that may help you to achieve more in 2007.

How many times in our search to improve our businesses, do we seek solutions from the outsi

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

e and fail to look within ourselves? Have you considered assessing your own tenacity and looking within the word tenacity? Did you see the word ten – 10 - wit

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

hin tenacity?

Tenacity has many definitions, but I like the simple ones such as Chuck Norris who states tenacity is the ability "to stick to it when things get tou

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

Combination pro

gh. " So, how many times will you stick to it? Are you discouraged after a couple of times and give up? If you had a minimum benchmark before stopping and this th

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

esh hold would keep you going forward, would those difficult times be less challenging?

From our childhood experiences, we are told to "Count to 10" before all

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

owing our temper to guide our behaviors or taking other types of action before we think. This paradigm is a great way to reinforce our own tenacity as we overcome thos

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

e obstacles that are keeping us from securing personal success to business success.

To increase sales begins by finding prospects. Thousands of voice mails are left

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

very day and not returned. Do you give up after a couple of tries when your calls are not returned? How much would your sales increase if you made a decision to call t

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

his person at least 10 times before you even called her or him the first time? Would your phone voice be consistently positive?

Another way to find prospects is by s

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

Following aspects would a

peaking at local meetings such as civic organizations, associations or chambers of commerce. If you made a conscious decision to give at least 10 speeches every 3 mont

dd to the challenges in developing combination products:

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

s, how would that affect the results from your marketing plan?

Referrals are one of the best ways to in

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

crease sales. If you would contact 10 current or past clients and then contact 10 centers of influence and asked each for at least 2 referrals, how would that affect y

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

our business success?

Just imagine all of the results if you consistently applied the Tenacity Power of 10 to all of your business activities?

How m

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

ch more would your business grow if you made 10 more calls each days?

How many more clients would you have if you meet with 10 more prospects each week?

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

Professional from academic institutions, pharmaceutical industries, health care indust

How much more marketing results would you receive if you mailed 10 more introductory letters each month?

The Tenacity Power of 10 automatically crea

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

tes a self-fulfilling prophecy by strengthening your own personal resolve because now you are in control of your own destiny. Years ago, Henry Ford penned these words:

.

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

"Whether you think that you can, or that you can’t, you are usually right."

Business success or personal success is a matter of choice. Being tenacious is als

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

Companies that provide selfless information through particip

o a matter of choice. You can choose to be tenacious towards success or to be tenacious towards failure. For me, there is only one choice and failure is not an option

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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