Main Subject - Business

Too many people ride the ‘feast or famine’ rollercoaster of clients, especially SUCCESSFUL entrepreneurs. Some months they have almost too many clients and are WAY too busy, and other months, t

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

hey’re feeling the pinch. The well is dry and they’re digging their well when they’re thirsty. I’ve been there in the past, and there’s nothing worse than experiencing those two extremes on a regular

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

Examples of combination products may in

asis. It’ll make you want to go back to Corporate for good! (NOT ME!)

You’ve heard me talk about my NO EXCUSES approach to getting clients. That means that the number one rule I have is that I

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

do SOMETHING to bring clients or client referrals towards me every single day. Otherwise, you’ll find that no matter how good you are, your pipeline will eventually dry up.

The key is to shoot for

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

OVERFILLING your prospect pipeline. Most people just shoot for having SOME people in it. That’s not enough. If you aim for something WAY bigger than what you’ve already gotten so far, you’re more

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

Combination pro

ikely to reach even a medium level, than if you were to aim low.

When I talk to my clients about this, the number one answer that comes back is, “But what if I get TOO many prospects? What do

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

I do then?” I’ve even heard, “What if I get TOO big? Then what?” That’s when I usually laugh out loud and say, “GOOD! That’s a good problem to have!”

There are at least 2 solutions for having too man

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

people wanting to work with you at the same time:

Put them on a waiting list. It’s OK to do this. What you’ll actually notice is the opposite of what you might think would happen. Ins

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

ead of leaving and saying, “I don’t want to wait,” most prospects will chomp at the bit to find out how high up on the waiting list they are and will want to see if they can do anything to start earli

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

r. It’s actually VERY Client Attractive.

Leverage your time and efforts by creating group programs and charging less than your regular one-on-one fee. You’ll end up being able to wor

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

with MORE people at once AND make more money per hour or project than you would with a single person. Leverage is one of the best things ever “invented” and having too many prospects is one way to se

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

Following aspects would a

t yourself up for this.

So, how do you get to this point? Discipline. I’ve often said that I wasn’t born a very disciplined person (or organized for that matter) but as a result

dd to the challenges in developing combination products:

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

of having a full practice and wanting to keep it that way, I’ve taken the NO EXCUSES approach to marketing. So, I’ve worked on setting up systems, being organized (or getting help with it) and

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

earning to master the discipline thing.

That means doing some marketing every single day, no matter how bogged down you are with work and existing clients. Get that newsletter out the door, ri

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

out the newspaper article and send it to an existing client or prospect, send that quick email to the association asking if they accept outside speakers or write a thank you note. Whatever! Just make

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

the time for it and do it.

The key is to do SOMETHING that stimulates future business and referrals because the reason that most entrepreneurs have financial problems is THAT, nothing else, es

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

Professional from academic institutions, pharmaceutical industries, health care indust

pecially the seemingly successful ones. They go to work and only do the work, while everything else gets backed up, especially the marketing.

YOUR ASSIGNMENT:

Make a list of the little thi

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

gs you can start doing DAILY for OVERFILLING your pipeline. Then, make the time for it. Yeah, yeah, I know you’re busy, but maybe it’s first thing in the morning, before you even open up Outlook t

.

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

check your emails. Maybe it’s right before you turn off the office light and close down your computer. Again, it doesn’t matter, as long as you make a commitment to doing this for the rest of your ca

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

Companies that provide selfless information through particip

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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Every person will have its own safety ink to sign its documents. Chemical components give absolute safety to signatures.

When you finish typing an email message, don’t forget to sign it. In email language, that doesn’t mean simply typing your name. The “signature block” contains a great deal more information.

Many Internet business owners know that marketing is the key factor in determining the success or failure of their online business but choose to ignore this area or minimize the importance of it. One could assume that they just don’t really care, which begs the question: Why are they in business?

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