Advice You - Business

Before we go further, do not interpret this as losing sight of the big picture.

1. You Eat An Elephant One B

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

ite At a Time.

If you have 50 things to do you cannot do them all at once. Your salespeople are the same. If th

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

Examples of combination products may in

ey have 25 previous customers to contact it is more effective to contact 5 per day rather than 25 in a week. Why? Simple

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

human nature. If you assign them the task of 25 contacts in a week they will wait and try to contact them all the last

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

day or two. In an effort to rush, the quality of the contact will be poor at best. Follow-up will be improved if you do

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

Combination pro

t in small increments. And they will not become frustrated by thinking they have to make “all those contacts.”

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

2. If you want to implement a new procedure.

Lay out a plan of action and put it in writing. Perhaps your

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

goal is to conduct a series of training sessions. Know what you will teach on what day and stick to your time schedule.

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

Keep in mind that sales training is not the exercise of a dormant ability. Learn to train. Find articles about teaching

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

and how to present information.
If you are installing a new follow up system, implementing a change in company

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

rocedure or any other item that requires skills training do the same. Break it up into components. Teach it one piece at

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

Following aspects would a

a time.

3. The little foxes spoil the grapes. Aesop’s fable teaches us that.

What little foxes a

dd to the challenges in developing combination products:

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

re spoiling your grapes? For most of us the answer is...I feel like my time is not my own. Managing your time is

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

skill you must learn. It begins with prioritizing your day. Which things are urgent, which are important and which are

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

secondary? Urgent activities take priority. Do nothing else until they are completed, you have scheduled their complet

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

on or delegated the completion to someone else. Important activities occur daily. These deal with current business and o

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

Professional from academic institutions, pharmaceutical industries, health care indust

ngoing programs that lead to further business. Included in this group is sales follow-up, customer follow-up, training,

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

recruiting and hiring. Secondary activity includes anything else.
The simple way to prioritize is to WRITE IT DOW

.

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

in order of importance and cross it off when completed. If you have a task that is scheduled but not yet completed

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

Companies that provide selfless information through particip

be certain you follow-up until it is done. A hint here: the greatest organizational system ever created is the legal pad

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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S Corporation is an elective provision that permits small business corporations and their shareholders to elect special income tax treatment. In S corporation status, corporate income tax can be avoided and shareholders can claim corporate losses. These are domestic corporations that can avoid double taxation by electing to be taxed under Subchapter S of the Internal Revenue Code. The S corporation cannot have more than 75 shareholders. Only certain entities and individuals are allowed to be shareholders. All S Corporation shareholders must be U.S. citizens or permanent resident aliens. S Corporations may have only one class of stock. It is exempted from federal income tax other than tax on certain capital gains and passive income.

Business cards are such a reliable way of reminding the public of your business and what it stands for. These cards are small and easy to carry with you wherever you go, ready to hand them to anyone you meet who could possibly benefit your business. They are very reliable advertisements and if you distribute them correctly you can reach a lot of people in your area.

If you are in the business of Athletic Summer Camps you know that to insure that each year you are booked up you need to promote all season long during the regular season and this means talking with coaches, hosting a very good website and hobnobbing with those who make youth sports what they are today.

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