Main Subject - Business

Many small business owners like us have a difficult time asking for business. It's not that we don't want the business, but wouldn't it be so nice i

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

f people just handed over their money for our product or service rather than our actually having to ask them for it?

And this is one of the most co

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

Examples of combination products may in

mon ways that small businesses stay really, really small, and sometimes peeter out altogether. They don't ask for the business, or they don't ask fo

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

r it often enough to create a successful and sustainable business.

Here are 5 easy ways that you can ask for the business that if you implement on

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

consistent basis will guarantee that your business - and your bottom line - will grow.

1. Ask what they want...

The #1 way to grow a profitable b

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

Combination pro

siness is to offer what your targt market wants. And the best way to find that out is to ASK them.

At least once a year, survey your target market,

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

asking them specifically what their biggest challenges are and what products and services they are most interested in. Periodically ask your curren

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

clients and customers the same question.

Use their responses to develop your offerings and you'll practically guarantee yourself a source of stead

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

in^come.

2. Ask for the sale...

Once you've create the product or service that your target market has told you it wants, you have to put it out t

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

here and ASK for the sale.

Don't just stick it on your website and hope people will see it. Put together a promotion plan for each product or servi

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

e you put out, including email promotions, using your online networks, utilizing your affiliates, and even consider pay-per-click advertising.

Then

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

Following aspects would a

periodically ASK for the sale again. Plan a year's worth of regular promotions for each of your offerings and you'll increase your in^come.

3. Ask

dd to the challenges in developing combination products:

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

for the order...

A simple but oft-missed tip: Make sure that on your sales page for your product or service, you ASK for the order.

Just flat-out

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

SKing for the order can increase your sales dramatically.

Aside: Have you ever been on a website ready to buy something but you couldn't find the o

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

der link and ended up clicking away in frustration to go find what you wanted somewhere else? Don't do that to your customer. Make your order link o

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 buy button very obvious!

4. Ask for the referral...

Another way to build your business is to routinely ASK your current clients and customers to

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

Professional from academic institutions, pharmaceutical industries, health care indust

refer others to you. You can do this via a simple email that you send out periodically. You could also offer an affiliate program to entice people t

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

refer your products and services to others for a small commission.

5. Ask for the recommendation...

Make a request of a colleague whose offerings

.

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

complement yours to recommend you and your offerings to their list. Because the people on your colleague's list already know, like and trust him/he

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

Companies that provide selfless information through particip

, they are much more likely to follow his/her recommendation.

Now you have 5 simple ways to grow your business that you can put into practice today

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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Whether you keep track with a pencil and a pocket notebook, a PDA, create a spreadsheet, or use one of several software packages, keeping track of every penny coming and going will transform your finances and build your financial acumen faster than any ten books on the subject.

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