Main Subject - Business

Are you frustrated because you’re juggling all the balls when there are not enough hours and there’s no energy left for you?

Do you spend a lot of time networking, yet do not get quality referrals

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

and sales?

Would it interest you if you could spend less time and get greater results; how about if you could work smarter, not harder?

Have you thought about how you could get more quality and

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

Examples of combination products may in

consistent referrals? Or have more time just for you? How would you like to increase your sales and once again feel focused on your strengths and passion? What if you could see profits and revenue

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

oaring at the same time? Sound interesting? What would that mean for you?

Let’s look at how to take your networking efforts to a higher potential. When doing so, not only do you network 24/7 but y

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

ou also use a focused, targeted approach; an approach that will pro-actively and selectively build a quality system of your own special partners. Such partners may include those that target the sam

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

Combination pro

or complimentary target markets as yours; they may offer the same or complimentary products and services, or they may focus on areas of your business that are not your strength or interest. And, t

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

hey could help you in the primary area of your business that continuously needs to be improved: your sales and marketing efforts, i.e. they can help you to build your list, promote your products an

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

services.

These partnerships are often created because:

• You really do not need to do it alone. Whether you are at home or at work, partnering with like-minded entrepreneurs allows you to focus

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

on your areas of strength, interest, and passion;

• You can solve the problem of too much to do and too little time; and

• Even if you hate sales and marketing or are tired of networking you can

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

still create a successful business or career.

Let’s look at the potential results of such a select team?

Hundreds of entrepreneurs, struggling to achieve a work/life balance and increased sales,

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

use a partnership solution to help them in both personal satisfaction and breakthrough business results that come from building three key partnerships. The first is:

Yourself. The key here is to

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

Following aspects would a

enter a partnership (or working relationship, if you will) to help you discover the foundation to living a life of joy and creating a “rock-solid business”. In doing so, you become better able to

dd to the challenges in developing combination products:

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

ocus on and exponentially grow your profits.

Next: Your Time. Crystallize your passion and purpose by being pro-active in your attempt to create a partnership. Before you contact potential partner

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

s, do your research and preparation. Who are all the players who may be involved in the decision to partner? What are their potential needs and pains? What can you offer them? How are you unique? W

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

at is the best way to reach this prospect? By taking this time to discover your specific gifts, you become even more valuable in the marketplace.

Third: Others. Know who you can best serve; ident

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

ify and make a list of your prospective partners. There are three types of partners to seek out:

• Those who can fulfill a business need you have, particularly in an area that is not your strength

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

Professional from academic institutions, pharmaceutical industries, health care indust

or interest;

• Those who can help you increase your sales and reach; and

• Those who can provide support and accountability to help you grow

Succinctly share the potential problems you can solve

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

or gains and benefits you can provide, and then ask them to explain how they perceive the value of your offerings.

Small business owners and entrepreneurs like you build and sustain relationships

.

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

when you each ask for feedback. How do they feel about the partnership? What are the areas of most interest and value? What is the potential joint impact? Are there any concerns or questions? Addre

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

Companies that provide selfless information through particip

ss each other’s needs. Then congratulate yourself for creating a mutual relationship that will lead to growth for all parties involved!

Doing so, you discover a new focus and the secret to success

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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When all is not well with work, what do you do? Do you quickly get frustrated and feel discontent? Do you look at each situation as a tiresome challenge or as an opportunity to learn something new? Theresa Castro, Executive Career Coach and author of The Secrets to Discovering Your Dream Job gives insight on how to handle difficult situations at work.

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