Main Subject - Business

Business Card Exchanges

You are using your conversational skills to initiate and continue a conversation with someone you meet at a networking event that you’ve carefully selected because your best c

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

lients, prospects, or referral and vendor partners are there. You do want to exchange business cards; however you want to do it the Wealth Networking way. You don’t want to be a careless Collector or Giver.

The first

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

Examples of combination products may in

step is to plan and prepare for the ritual of the exchange. Once you initiate the conversation (see Chapter Three) with questions that invite your conversational partner to talk about their reasons for attending the

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

vent and their biggest challenges, you continue to encourage them to elaborate.

During this time, your listening and respectful questions may prompt your partner to ask for your card. It is hugely important that you

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

handle the card exchange carefully.

When your partner pauses and asks “May I have your card?” you have a golden opportunity to move from a transactional to a relational conversation.

In advance of the event, you mus

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

Combination pro

t prepare for this question. First be sure that you have a professional quality card holder. You’re going to display it long enough to make an impression, so you want to make a good one.

Second, have a good place to

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

tore your card holder. Men can easily place it in the inside pocket of their suit coat. Women who have a jacket pocket at the hip can use that. If you don’t have a jacket pocket, carry a purse or other small bag that

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

has an outside pocket in which you can place your card holder. It must be hidden yet easily accessible.

Why all this planning for your business card exchange? The simple answer is this—your business card has a high v

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

alue and must be treated accordingly. If you throw them around, pull them loose out of a pocket or an envelope, or hold bunches in your hands, you are devaluing their importance.

Yes, business cards are pretty inexpe

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

sive to print. You get hundreds at a time. What is the big deal?

Your card has your company name and location on it. What resources went into building the company, creating its logo and brand name, and its reputation

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

? What does it cost to maintain your physical location; your telephone and your web presence? These investments make it possible for you to exist as a business. Don’t minimize the investment by thinking of your card a

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

Following aspects would a

s a cheap piece of paper that you can give away with impunity. Most importantly, when you value your card, the people who receive it will value it as well.

Your conversational partner has just asked you for your card

dd to the challenges in developing combination products:

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

What do you do?

1) Make eye contact while reaching carefully for your card holder.

2) Ask, “What did I say that makes you interested in having my card?”

3) Listen to the answer.

4) While

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

they are speaking, you are slowly and reverentially removing one of your cards from the holder. Once it is removed, you hold it in front of you in your two hands.

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

ul>

6) Repeat/rephrase what they told you, asking for their concurrence that you have it right.

7) Extend both hands and give them your card. At the same time, state that it is your pleasure to provide them

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 details of where they can learn more about your company and how they can reach you.

8) You may then ask for their card. Hopefully they will handle your request the same way.

9) If they don’t, you

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

Professional from academic institutions, pharmaceutical industries, health care indust

must do it for them.

10) Take their card in both hands, and hold it in front of you while you look at it. Stand firmly on both feet and don't fidget.

11) Read and comment on some of the information—t

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

heir location, their logo, their title or responsibilities. Let them know that you understand the value contained in the information on your card.

12) Hold their card in both hands until the conversation is co

.

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

pletely finished.This card exchange ritual has taken place after you initiated a conversation. You learned in Chapter Four how to smoothly end a conversation. You will do those same things after the card exchange

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

Companies that provide selfless information through particip

.

Wealth Networkers know that the first meeting at a specifically selected event is just the first step in building a connection that will grow the Wealth Net. Chapter Six elaborates on effective post-meeting actions

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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Employers and managers are often thrust into the spotlight when asked to lead an interview process for their organization, with little training or guidance. Getting the right person on board to your organization, in the right position, at the right time, is one of the most strategic business decisions today.

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