Main Subject - Business

You probably know by now that the more people who know about you and your coaching practice the greater chance you have of attractin

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

g clients. However, running a coaching practice from home can become an isolating experience with fewer chances for human interactio

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

Examples of combination products may in

. You need to get out more ;-)

You may have come to the point (begrudgingly or otherwise) that you need to do some networking to bu

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

ld your list of contacts and build business relationships. There are a wide range of options available if you want to network but I

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

elieve that few can compete with the professional networking groups run by BNI or BRE.

These groups have been specifically set-up t

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

Combination pro

exchange business referrals between members. Unlike the Chambers of Commerce or Business Link meetings, they have exclusive members

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

ip so normally you'll be the only coach in the group. They also meet up on a weekly basis (rather than monthly) so you have the abil

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

ty to develop strong relationships with the other members of the group more rapidly.

However, would BNI or BRE be right for you?

H

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

re are some questions to ask yourself:

1. Are you a morning person? - BNI and BRE meetings are held early in

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

the morning so you'll need to be there by 7am but the earlier the better. This means you'll be getting ready to rise by at least 6.3

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

am. Ouch!

You may have child care commitments to consider.

It may seem easier to get up during the light mornings of the summer bu

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

Following aspects would a

t think about the winter too when the dark mornings challenge your get-up-ability :-)

2. Are you committed? - The more you

dd to the challenges in developing combination products:

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

put into your group the more you'll get out of them. Are you committed enough to regularly attend the weekly meetings? Be prepared t

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

put in the effort and you'll reap the rewards.

To build strong relationships based on trust with the other members of the group yo

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

'll need to be a regular face at the meetings and meet the members outside too.

3. Are you connected? - A large part of be

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

ng successful in BNI or BRE is you being prepared to BRING business to the meetings for other members. It's not all 'take take' on y

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

Professional from academic institutions, pharmaceutical industries, health care indust

ur part.

Do you have friends, family and colleagues who could utilize the services of the members in the group? Don't worry too muc

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

about this as it's surprising how many chances you'll find to bring business to the meeting for other members when you get to reall

.

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

know what they are offering.

4. Are you crazy?! - In a liberal society the idea of getting up around 6am on a weekly basi

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

Companies that provide selfless information through particip

completely voluntarily (without the threat of punishment) may seem crazy at first. However, you may be crazy not to.

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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The Warren Buffet essays are as good for Corporate America as Milton Friedman's papers were for Free Markets or Henry Kissinger's essays for Foreign Affairs. The stuff Warren Buffet wrote about is timeless. They are old now, but could have been written yesterday. Remember he is old school not a stock flipper, although today you could say he is a market maker, as his investments move stocks and industries. Well, I guess Kramer on TV is too these days.

If you're anything like me, you're bombarded with ezines and emails that continually try to sell you something. Now, I strongly believe in marketing with consistency and conviction but sometimes it's a turn-off, right? That's because HOW you promote makes all the difference. And it all just comes down to authenticity and the ratio between value and promotion.

An online marketing consultant can help you in increasing sales, promoting brand recognition and gain an edge over your competitors and truly make you understand how to advertise to ensure returns.

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