Main Subject - Business

It seems that the idea of using a business or executive coach to get ahead or to deal with roadblocks is now becoming very acceptable.

I have been involved with coach

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

ing since 1988, when I was first appointed to work with other senior executives at the company I worked then. In all those years, I have never seen so much interest an

; 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 value attached to the use of a certified coach before this year.

Want some proof? In the last couple of months, I have appeared on more television and radio shows 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.

han I did in all of 2004. I've been invited to speak about the value of coaching on ABC Network News, on Fox, and on NBC. AND I'm booked to appear on 2 more shows as o

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

f this writing.

So why am I concerned? And why should You be?

Item 1: Be a Smart Shopper

I spent a fair amount of time in the retail business. I learned that when a

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

Combination pro

ny product or service becomes very popular, a lot of similar-looking-but-not-as-good copies will soon hit the market.

Be aware that this new level of 'coaching awaren

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

ess' is bringing with it some real frauds and charlatans. If you have any thoughts about taking on a coach, I suggest you ask them 3 questions: 1. "Are you certified

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

?" If so, that alone should reduce the chances that they are selling snake oil or touchy feely stuff that won't do anything to help you move ahead.

2. " Have you actu

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

ally done what you coach?" This is a pretty good indicator of your chances for success as well. I don't think Tiger Woods would use a coach who'd never actually swung

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

a club.

3. "What professional associations do you belong to?" If they are affiliated with either the Worldwide Association of Business Coaches or the International Co

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

ach Federation, you know they've got some credibility . Why Care about Industry Associations?

Item 2: Coaching Should Pay for Itself. Quickly

Ever met anyone who's

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

Following aspects would a

used a therapist or counselor for what seems like forever?

Although Woody Allen seems to have a made a good career about joking about his various therapists; for the

dd to the challenges in developing combination products:

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

rest of us the wrong choice can be disastrous.

My advice - don't take on any service provider if they can't tell you what to expect from your joint work. You wouldn'

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

t use a contractor to upgrade your bathroom without a commitment - why gamble with your career? Many executive and business coaches - including me - offer a guarante

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

e of performance. This can take the form of either a 'full satisfaction or your money back' program or a return on investment (ROI) that's agreed to upfront.

Last yea

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 I was part of a 4 person team which did an industry analysis for the International Coaching Academy. We found many studies which proved conclusively that good effect

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

Professional from academic institutions, pharmaceutical industries, health care indust

ive coaching can provide an ROI of up to 500% over time.

Get a commitment. Read the Wall Street Journal.com Article

Item 3: How Long Does It Take?

People always a

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

sk me, "How long would I need to work with you?" It's a good and fair question.

Based on my experience I can tell you this: Hard, concrete results can witnessed often

.

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

as little as 4 sessions. But it can also take as long as the client wants to continue. And that's the point. If you decide to work with a coach of any kind, set tar

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

Companies that provide selfless information through particip

gets for achievement and 'by when' dates to monitor your progress.

If you are moving ahead at the speed you want - stick with the coach. Otherwise - try someone else.

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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No job lasts forever and for some, the sour taste and deflated feeling of getting fired may occur once or even more than once in a lifetime.

Being underpaid can be a reality for certain industries, jobs, and companies. Asking for a raise is certainly one way to handle being underpaid but other options are available, too.

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