Advice You - Business

You’re not alone. Most people are uncomfortable walking into a roomful of strangers. But networking at business events can help you grow your business, as well as allow you to do hands-on marketing research. Learnin

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

g to mingle and to follow-up with business networking contacts is crucial to your self-employment success. The following techniques will assist you in connecting effectively with others.

Before the Event

Come prepar

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

Examples of combination products may in

d to network by bringing business cards, a pen and a small notebook. Make sure you eat before you go. If it’s a cocktail party, or finger foods are being served during the networking portion of the meeting, it’s bett

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

er to carry only a drink, instead of trying to juggle a plate of food.

Know your goals: What is your purpose for attending this particular event? To meet certain people? To find prospective customers? To find a res

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

urce you need? Meet a new friend? Nurture existing relationships? Bring 20 business cards and promise yourself you won't leave until you've given out all the cards. Ask for other people's cards if you sincerely want

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

Combination pro

o keep in touch with them. Not everyone you meet will be a good resource.

Ask the event host about dress code. Some events are Business Formal and people will be wearing business suites. Some events are Business Cas

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

ual and there will be a mix of more relaxed styles. By knowing in advance what to expect, you maximize the feeling of being part of the group.

At the Event

First, arrive early. Get there early when the group is sma

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

l and manageable. Enter the room with a smile. Even if you feel nervous, “act as if.” If you have a smile on your face, you will be perceived as approachable, enthusiastic, and friendly. (And you’ll feel a whole lo

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

t better, too!) Make sure you mingle. Do not isolate yourself with only your friends or colleagues you know. Move around. Spend no more than 5-6 minutes talking with any one person.

Ask your host to introduce you

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

o people that you want to meet, or to get you started in a group where you know no one. If they have a Greeting Committee or Ambassadors, find out who they are and ask for help with introductions. Reach out to people

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

standing by themselves, introduce people to each other. (As a side note, if you are part of a group or association that does not have a Greeting Committee, offer to become a one-person Greeting Committee. It gives you

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

Following aspects would a

the perfect excuse to introduce yourself to everyone who walks in the door!)

When you meet a person, shake hands, and repeat their name. This not only helps you remember it, but it shows that you're making an effort

dd to the challenges in developing combination products:

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

to hear the name properly. Wear a nametag that is easy to read and is descriptive of you. Wear it on your right shoulder so that people can easily see it when they shake your hand. Create, practice and use a descript

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

ion of yourself and your work that can be said in 30 seconds or less. Know how to describe your work in one or two sentences. (This is commonly known as an Elevator Speech because it reflects what you can say in the t

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

me it takes to get from the ground floor to the top floor in an elevator.)

Listen more than you talk. Remember that there is nothing more flattering than someone who listens carefully and shows sincere interest in oth

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

r people. Ask questions and listen to the responses so that you begin to understand the person. This also helps you to identify who might be a potential client for your own products and services. Take notes to help

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

Professional from academic institutions, pharmaceutical industries, health care indust

you remember what people have said. When you get back to the office, put all this information into your contact management software.

After The Event

Once you have someone’s business card, make sure you follow up wit

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

them within 24 hours of the event. If there’s an obvious win-win connection with someone you’ve met at an event, call them up and invite them to lunch to explore the connection further. When you write the networking

.

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

event into your calendar, also add one or two hours the following day into your calendar for follow-up so that you know you have time to complete the task.

When you look upon networking events and business functions

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

Companies that provide selfless information through particip

s an opportunity to meet new people, do some market research, and find potential clients, it can become a joy instead of a chore. Going in with a game plan makes you feel like you can really make the most of the event

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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Have you ever found yourself in an interview that you knew was collapsing around you? Jeff Altman, MSW and CPC, a search professional for more than 30 years, offers several suggestions for how to avoid interview hell. For more tips, go to www.newyorkmetrotechnologyjobs.com

All businesses make investments in both plant and equipment, and also in their employees. Depending on the type of enterprise, some businesses will have more invested capital than others. No matter the type of business, the primary question remains the same. The question is - what is the purpose (or goal) of any business investment? The answer - the purpose of any investment is to increase the net worth of that investment. The question then becomes--how to finance it?

The retailers of today are beginning to carry huge selections of goods to bring in more traffic through diverse product lines.

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Advice You - How To Make The Most Out of a Business Networking Event

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