Advice You - Business

In Step 1, we talked about “Laying Down a Track to Run On.” Here, in Step 2, we’ll discuss “Being A Good Sponsor.” While many of the people you recruit into your organization may have had previous e

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

xperience in network marketing, many will be first timers. Similarly, if you’ve been successful in recruiting people who were involved in other network marketing organizations, you got them because

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

Examples of combination products may in

they were disenchanted with their current company. In other words, they weren’t as successful as they would have liked to be.

Wouldn’t that indicate to you that they don’t know the best way to do t

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

hings? Well, that’s where you come in – helping them lay that track for others to run on. Again, when new distributors know what works, they can proceed with confidence, and confidence is the handma

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

iden of success. Remember, people are not duplicable, but systems are.

Step 2 -- Being a Good Sponsor

Being a good sponsor means showing your new distributors “The Rules:”

Rule No. 1: Trea

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

Combination pro

t it Like a Business.
In order to be successful, your new distributors must truly want success, be coachable, and follow through on their commitments. In other words, they need to treat this bu

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

siness like a business.

Rule No. 2: Keep it simple.
If they can follow a simple procedure (see Part 1), they will use the same system with their contacts. If they can see that what you did was

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

simple, they will believe they can do it, too. If you had to really work on them, more or less “bullying” them into the business, your new distributors will not want to duplicate what you did and wi

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

ll not take any action.

Rule No. 3: Determine Their Reasons.
If you know what your new distributor wants from this venture, that is, why they want to succeed, you can understand how to get the

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

m over the rough spots and keep them on the road to success. Remember, most people will be tempted to quit with the first setback because they were never clear on what they wanted to achieve in the

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

first place. If their “why” is strong enough, the “how” will be easier to get across.

Rule No. 4: Establish Objectives.
Set specific sponsoring and financial objectives for the first 30, 60, a

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

Following aspects would a

nd 90 days. People always perform better when they have specific goals in mind.

Rule No. 5: Introduce Your Upline
Introduce new distributors to their upline, those leaders who are building a s

dd to the challenges in developing combination products:

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

uccessful business and who are earning the type of income they’d like to earn. That way, if you’re not available to help them, they will have names and telephone numbers of others (you should give t

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

hem at least 3) who they can contact for support. Further, by meeting others who are earning the type of income they'd like to earn, the system becomes more realistic and attainable.

Rule No. 6: Wh

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

re’s the Tools?
Make sure they know how to get the tools they will need to share the business with others., such as tapes/CDs, brochures, business cards, etc. Every business needs information t

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

o disseminate with prospects. This one is no exception. Remember, people are not duplicable, but systems are.

Rule No. 7: Make a Prospect List.
Although everyone who makes a list doesn’t neces

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

Professional from academic institutions, pharmaceutical industries, health care indust

sarily become a top earner, every top earner has a list. Typically, they’ll start with their Warm Market, because that’s the people they know.

At this point, your new distributor should be ready to

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

go. They have their “reason why” clearly in mind, specific objectives for the next 90 days, their upline's contact information for plenty of support, the tools to get started, and a list of people

.

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

to contact.

Having said that, remember Rule No. 8: Let Them Move at Their Own Pace. Sponsoring a distributor is a process, not a single event. If they don't want to move as fast as you do, that’s

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

Companies that provide selfless information through particip

OK. You can’t change human nature. People will only do what they are willing to do. Encourage, yes, but don’t try to force people into something they aren’t willing to do.

Bruce Bailey, Ph.D.

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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Advice You - Training the New Network Marketing Distributor: Being a Good MLM Sponsor – Step 2 of 3

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