Main Subject - Business

How often do guests visit your networking group yet ultimately never join? Why do they come in the first place? What are they expecting? What are they leaving with each meet

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

ing? The last question is critical and that is where you should begin if your group is willing to try something new.

Start by giving your guests a printed “group bio” which

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

Examples of combination products may in

ncludes the group’s mission statement, members, activities, rules and meeting times. Make sure all your members have read these documents.

Since most guests leave their first

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

networking meetings without referrals you should send guests away with fresh marketing ideas. Your group likely has a few people bubbling with ideas to share, more than 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

hink, with valuable experiences. Begin by asking your guests how they market their businesses. Then let your members suggest new avenues for marketing. During the roundtable

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

Combination pro

of ideas, one of your members may offer to cross-marketing with the guest, increasing the likelihood of the guest returning.

Over 90% of the groups I visit feature a “15-20 mi

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

ute nuts-and-bolts showcased member”. During these speeches, I’ve consistently notice 50% of the audience focused elsewhere, particularly the longtime members who have heard

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

most of this information before. Why not take that approach with guests and apply it to your members?

Here’s a format I use which you may tweak as you wish:

For two weeks ev

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

ry month in your group, attendees sit 5-6 people per table. 45 minutes of meeting time are devoted to the roundtable discussions. Each table brainstorms for 15 minutes on one

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

business, then another business for 15 minutes and then a third business for 15 minutes (15 minutes x 3 businesses = 45 minutes). If you have two full tables, six businesses

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

3 business x 2 tables = 6) will leave that meeting with new marketing ideas in addition to any referrals members bring that week. Long-time members no longer feel guilty coming

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

Following aspects would a

to meetings without referrals since they may contribute in other ways.

To keep meetings within an hour, shorten introductions to start the meeting. Members could introduce t

dd to the challenges in developing combination products:

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

emselves in less than 15 seconds by following this order: fun tag line, first name, business name and then, business buzzwords. After introductions and announcements, dive int

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

o the brainstorming roundtables.

If you hold four meetings per month, spend the other two meetings doing various activities (reviewing each other’s business cards, improving e

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

ch other’s taglines, etc).

To share the nuts & bolts of each member’s industry I recommend one of two solutions. Either create a website with a page for each member (it helps

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

to have a web designer in the group yet Microsoft Frontpage is simple for many people and a domain name + hosting costs ~$50 year) or have each member fill out an application w

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

Professional from academic institutions, pharmaceutical industries, health care indust

th contact info, industry description, industry tips, testimonials, have one member type up the applications and then hand out in three-ring binders for reference when needed.

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

Either approach will look impressive to guests.

Lastly, I’m not big on fines or membership dues yet do think charging $5 per missed meeting (often less than the cost of atten

.

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

ing and paying for breakfast/lunch) is acceptable if the collected funds are used to pay for group marketing costs.

People join groups to get referrals, to get ideas on how to

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

Companies that provide selfless information through particip

grow their business, to help others and to socialize. You’ll find the above approach maximizes your group time to improve productivity and growth of the group and its members

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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This article is full of statistics and information on the relationship between the self employed and the banking industry.

JVing is an important part of business. But where do you start and how do you find them. Knowing these answers and being prepared is a key to success.

A company brochure, done correctly, adds legitimacy to any small business. With a word processing program, careful writing and attention to the tips below, you can produce professional looking brochures that will speak directly to prospects and win new business.

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