Advice You - Business

So, you have found the perfect direct sales company to join. But before you sign up, you’ll need to decide who is going to be your sponsor.

First, the basics: When you sign up with a d

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

irect sales company, you will most likely sign up underneath someone who in turns becomes your sponsor. This person will receive a percentage of your sales, and should be the one to hel

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

Examples of combination products may in

get you started and give you any training you may need. It is to their advantage to get you motivated and trained, because the more money you make, the more they will also make off of y

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

ou.

However, sometimes you will find some direct sales representatives that are so focused on sponsoring new members that the neglect the most important part, which is training and mana

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

ing their downline.

If you sign up underneath one of these sponsors, you may find yourself lost and without much direction on how to run your business.

Most new direct sellers sign up

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

Combination pro

under the first person that introduced them to the company, or the first one that gave them the information that they requested.

It is your sponsor’s job to train, teach, and guide you

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

n the right direction so you can build a successful direct sales business. If you don’t know your sponsor, how do you know they are the right candidate in helping you build your direct s

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

ales business?

Here are some questions you may want to ask your potential sponsor:

1. How long they have been with the company? In general, the longer your sponsor has been with

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

the company the more they know about it and how it works. They also have an upper hand in knowing what methods of selling and recruiting work best for this company. A seasoned direct se

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

ller is almost always more knowledgeable than a new one.

2. How knowledgeable are they with the company’s history and policies? Knowing the company history and their policies are

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

very important. Your sponsor should be able to tell you a full history of the company, about the founders, and all the products. Company Policies are also important because you will want

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

Following aspects would a

to know what methods of advertisement and selling may not be allowed.

3. How active they are in the company? Is their business part time or full time? This is also very importan

dd to the challenges in developing combination products:

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

. You might prefer to go with a sponsor that makes their direct sales business full time because they will have more time to devote to you. A part time sponsor will also have another job

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

to deal with and may or may not be on call when you need them.

4. What is their experience with training their downline? You might want to ask your sponsor how many people are i

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

their downline and how they manage them.

5. What tools do they offer to help train their downline? Ask your sponsor if they have weekly or monthly conference calls for their dow

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

nline, and any message boards or chat rooms to go for support.

6. How much time can they invest in you? Ask your sponsor how much time she can take out in the first few weeks to

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

Professional from academic institutions, pharmaceutical industries, health care indust

elp you get your direct sales business set up and ready to go.

7. How close do they live to you? Location is not the most important qualification, but it is always nice if a spon

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

sor is close by and can be reached easily for meetings. Most training is done online now in direct sales.

Finding the right sponsor is just as important as finding the right direct sale

.

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

company. Remember, you don’t have to join the first person that tries to sign you up. You may even ask to speak to a member of their current downline to get a better account of how goo

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

Companies that provide selfless information through particip

d a sponsor they are. Make sure you spend the extra time to find someone that really meets your qualifications and expectations so you can be one step ahead in your direct sales business

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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