Advice You - Business

Zig Ziglar use to say in seminars and on tapes that nothing happens until someone sells s

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

omething. I had never really understood how absolutely true that was until I got into fra

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

Examples of combination products may in

nchising and saw how one franchise sale could add jobs to the economy, provide great serv

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

ice to a community and change the quality of life for the franchisee and their family. Sa

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

es people have an advantage over other folks in business. Our top performing franchisees

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

Combination pro

were always the best sales people. Our toughest competitors, well their founders were gre

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

at sales people too. To this point I would like to recommend a book to you, that makes th

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

is point:

“The Force” by David Dorsey.

This is an interesting book on the psychological

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

turmoil associated with a sales team. How it transfers itself into the personal lives of

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

team members and how companies like GE, Xerox and IBM develop team leaders and sales peo

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

ple to excel. Remember many great sales people have gone on to be great entrepreneurs.

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

Following aspects would a

Ray Kroc, Ross Perot come to mind. It discusses the motivations and the inner drive of t

dd to the challenges in developing combination products:

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

ese people. We have many former sales people on our team doing very well. It appears th

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

at sales ability as it relates with people is a key ingredient in being a successful fran

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

chisee. Now we have successful franchisees, who are not sales people, however I have not

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

iced a higher degree of success with people who have had sales experience.

This book sho

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

Professional from academic institutions, pharmaceutical industries, health care indust

ld be read by those who do not want to be sold something by a sales person and by salespe

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

ople who think they are missing something or do not understand what their purpose is in t

.

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

heir current job. Sales people who are quitting their job should read this book and thos

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

Companies that provide selfless information through particip

e thinking of getting out of sales into a business should also read it and think about it

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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A direct-mail campaign is EXPENSIVE! There are many ways to cut the cost of your mailings.

Obviously, it hurts when a promising business project you backed financially goes down the tube. But while you point to many possible causes, seldom do you attribute the wreckage to a lack of effective communications that might have modified the behavior of sales prospects in a positive way, thus averting a money-losing shutdown.

Your public relations effort really should involve more than press releases, brochures and special events if you are to get your PR money’s worth. In particular, you should be pursuing those three p...

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Advice You - Sales People have an advantage as entrepreneurs

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