Main Subject - Business

You just signed up for a scrapbooking or stamping direct sales company. You now start on the recruiting "train". It's not required, but it seems to 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

e the "thing to do". You hold workshops or parties and all through the workshop, you "sell" the idea of joining you

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

Examples of combination products may in

r company with the idea that if you can get people to sign up, you'll be home-free - making money on THEIR sales - WooHoo! Sounds like a good plan, d

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

oesn't it? Well, maybe not. Nothing can potentially kill a good business faster than recruiting. Huh? I'll say it again,
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

>nothing can potentially kill a good business faster than recruiting.

Let me show you how:

You sign up

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

Combination pro

li>You sell $200 a month to Customer A

You make $50 a month from the sales you make to Customer A.

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

Through your effective recruiting efforts, Customer A signs up to be a consultant but is really only in it to get the discount<

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

i>Customer A still buys $200 a month on average of products - only now, she buys them from the Multi-level company herself

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

Customer A enjoys her 25% discount off of the products she sells to herself. You now make 3% off of her sales as her "upline"

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

i>You now make $6 a month off of customer A

You lose $44 a month in revenue...
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
trong>End of story.

Keep in mind that the company doesn't lose anything. They gain another one of you who will "lather, rinse a

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

Following aspects would a

nd repeat". Pretty soon, everyone is buying directly from the company and there are no "customers" left. Not to mention that now the company can sing

dd to the challenges in developing combination products:

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

the praises of the fact that they have X number of consultants, when in fact, a large percentage of those "consultants" are just the former customer

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

s of another consultant who was too good at recruiting. This scenario is even WORSE if there is no downline and you get a one-time credit or perk for

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

recruiting. Then you lose a customer forever for a mere fifteen bucks or whatever it is. Building a business is all about creating revenue streams th

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

at keep flowing. If you are putting a dam on the stream, pretty soon, the stream will be dry.

Can you recruit legitimate business owners who are int

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

Professional from academic institutions, pharmaceutical industries, health care indust

erested in building a real business? Of course, you can. But, be careful when you blanketly throw out the "opportunity" at a workshop or party. What

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

if everyone in the room signed up? You would have to find new customers every time you held an event. And, then, whether they are selling or not, y

.

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

ou have to devote time to managing your new-found recruits. That takes time away from doing what you love - teaching your craft and selling your pro

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

Companies that provide selfless information through particip

ducts.

So, recruit carefully and thoughtfully. Signing up everyone to be a "hobbyist" who gets a discount is not a smart way to build your business

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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