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Main Subject - What Makes A Compelling Elevator Speech: Escaping or Avoiding Pain
Imagine riding an elevator with strangers. One asks you, “What do you do?” You have until the elevator reaches the next floor to answer the question. If you answer compellingly, then you could get sales leads or referrals. The goal is to answer so that you are aske
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
d for your business card before the elevator stops.
To be asked for your card by a stranger after a self-introduction that lasts no longer than thirty seconds: that is the mark of a compelling elevator speech. That is also where most fail.
Good, but…
Co
To be asked for your card by a stranger after a self-introduction that lasts no longer than thirty seconds: that is the mark of a compelling elevator speech. That is also where most fail.
Good, but…
Co
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
nsider Jeff’s elevator speech: “I work with people who want to accumulate wealth by investing in undervalued stocks.”
This is what Brenda says: “I help couples to furnish and decorate their new homes in a style that’s all their own.”
Jeanette says, “I work with g
This is what Brenda says: “I help couples to furnish and decorate their new homes in a style that’s all their own.”
Jeanette says, “I work with g
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
rowing companies that need to find talented people so that they can continue growing and become more successful.”
Each of these is good enough that Jeff and Brenda and Jeanette can give out their business cards. They concisely describe their customers and the bene
Each of these is good enough that Jeff and Brenda and Jeanette can give out their business cards. They concisely describe their customers and the bene
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
fits they provide. Yet, these elevator speeches lack the power to compel most people to ask for a business card before the elevator stops.
For example, unless you are already somebody who wants to accumulate wealth by investing in undervalued stocks, Jeff might on
For example, unless you are already somebody who wants to accumulate wealth by investing in undervalued stocks, Jeff might on
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
y be remembered for his sharp suit and irrelevant career.
Empathy gives it power
That compelling power comes from describing with empathy the emotional discomfort or pain that you relieve. That is the core of a compelling elevator speech: pain relief.
H
Empathy gives it power
That compelling power comes from describing with empathy the emotional discomfort or pain that you relieve. That is the core of a compelling elevator speech: pain relief.
H
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
ere is Brenda’s elevator speech again, with pain relief added: “I help couples to furnish and decorate their new homes in a style that’s all their own – and they don’t have to do all of the shopping.” Many people would like relief from the chore of shopping for fu
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
rnishings and decorations. With only ten more words, Brenda honors that and offers relief.
Fluff is forgotten
At parties, mixers, wedding receptions, conferences, and a variety of other situations where people meet for the first time, people often forget
Fluff is forgotten
At parties, mixers, wedding receptions, conferences, and a variety of other situations where people meet for the first time, people often forget
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
others they meet. That’s how elevator speeches get condensed into simple impressions.
For example, Ed uses this elevator speech: “I help people just like you to get the car of their dreams. I’ve been with Paul’s Auto Brokers for eight years, now, and I still find
For example, Ed uses this elevator speech: “I help people just like you to get the car of their dreams. I’ve been with Paul’s Auto Brokers for eight years, now, and I still find
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
it amazing how we make car ownership dreams come true. We find deals on new and used wheels that you wouldn’t believe.”
To most people he meets, Ed’s elevator speech sounds too good to be true. He has considered adding more about his background, or the award-winn
To most people he meets, Ed’s elevator speech sounds too good to be true. He has considered adding more about his background, or the award-winn
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ng service department at Paul’s Auto Brokers, or that he had a record year last year. The trouble is, unless you can empathetically describe the pain you relieve, most people do not care about such things.
The simple impression that Ed creates centers around his e
The simple impression that Ed creates centers around his e
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
nthusiasm and possible overstatement. (Still amazing after eight years?) Ed needs to demonstrate relevance.
When it’s all fluff
Until you credibly mention emotional discomfort, and at least imply that you can help, most people do not care about:
When it’s all fluff
Until you credibly mention emotional discomfort, and at least imply that you can help, most people do not care about:
- •
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
the awards you’ve won.
- • how many staff you have.
- • how much experience you have.
- • how long you’ve been in business.
- • your education.
- • your business location.
- • your business hou
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
rs.
Pain relief = relevance
Relevance makes a compelling elevator speech and pain makes it relevant.
- • your basic business values.
- • the important people you deal with.
- • amusing rhymes about your company.
Pain relief = relevance
Relevance makes a compelling elevator speech and pain makes it relevant.
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
That’s why Jeannette would be wiser to say something like this: “You know, a lot of companies in this area are having quite a tough time finding good people to hire. Then, it can be frustrating to keep a good team together. Of course, letting people go can cause lo
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
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
t sleep, too. As a certified Human Resources Consultant, I help to make life easier for senior managers. Can you relate to that?”
If your babysitter’s parents had just divulged their hiring woes, would you ask Jeannette for her card? If your neighbour had recently
If your babysitter’s parents had just divulged their hiring woes, would you ask Jeannette for her card? If your neighbour had recently
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
lamented having to lay off workers, would you ask Jeannette for her card? If you were frustrated about office politics affecting performance among your own employees, would you ask Jeannette for her card?
It’s not about you
An elevator speech should com
It’s not about you
An elevator speech should com
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
municate:
- • Who you are (name with or without title or organization).
- • Three problems you solve (succinctly described in emotional terms).
- • That you can solve such problems (concisely stated in emotional terms).
- • A
.
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
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
hook question (e.g. Is this important to you?)
When people ask what you do, do not talk about yourself. Rather, describe concisely the emotional discomforts that you relieve – perhaps affecting your listener or people they care about. Then, state that you h
When people ask what you do, do not talk about yourself. Rather, describe concisely the emotional discomforts that you relieve – perhaps affecting your listener or people they care about. Then, state that you h
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
elp to stop or to avoid such pains. Now your business card is worth asking for.
After 30 seconds or fewer (before the elevator reaches the next floor) you should be asked for your card by a stranger. Until that happens, you do not have a compelling elevator speech
After 30 seconds or fewer (before the elevator reaches the next floor) you should be asked for your card by a stranger. Until that happens, you do not have a compelling elevator speech
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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