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Main Subject - How NOT to be a Networking Numskull
What is networking? Are you going to meet a strange group of people, often in a strange place, to somehow get something you think will be of benefit. If you fit this definition in any way you are a Networking Numskull. So what about these people who go to 'networking' m
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
eetings.
If they go, they introduce themselves and hand out their business cards and collect cards from others. Most of these cards are soon lost or tossed, by both parties!
Everyone knows they should network, but have you? Between making your goals for the company, f
If they go, they introduce themselves and hand out their business cards and collect cards from others. Most of these cards are soon lost or tossed, by both parties!
Everyone knows they should network, but have you? Between making your goals for the company, f
; 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
mily and other important things in your life there just doesn’t seem to be any time left for networking. I hear this statement from people every day.
Would you make networking a hire priority if it meant an additional $700,000 in income?
It has been shown that by not
Would you make networking a hire priority if it meant an additional $700,000 in income?
It has been shown that by not
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
aintaining and building your network you will be leaving a significant amount of money on the table. More than 80% of all jobs come from networking.
Statistics show that the average person will have twelve or more jobs in their career with an average three year tenure
Statistics show that the average person will have twelve or more jobs in their career with an average three year tenure
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
n each. In addition, establishing a network when you are in transition typically takes at least 4-6 months. If you make an average of $100,000 a year and have to re-build your network for each new opportunity, you will be walking away from 48-72 months of income. That a
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ds up to as much as $700,000 of lost income, not including the potential investment income that could have been yielded.
Instead, let’s build a Career Networking Strategy to maximize the benefits for all.
Phase 1: the Introduction or Contact
What most people do not u
Instead, let’s build a Career Networking Strategy to maximize the benefits for all.
Phase 1: the Introduction or Contact
What most people do not u
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
derstand is that this is NOT networking, these are introductions or contacts. They are no more valuable than that person you met for the first time at the company Christmas party.
Phase 2: Get to Know the other person
So, what to do? Take the first, real networking st
Phase 2: Get to Know the other person
So, what to do? Take the first, real networking st
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
p and start contacting those people who gave you their business cards. You know, the ones you don’t remember! Set up a coffee or lunch meeting and start to “get to know” one another, the first step in networking.
Once you get to know this person you can make a judgment
Once you get to know this person you can make a judgment
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
if you should get to know them better. If you decide it would be mutually beneficial to go forward, then start building a relationship. Relationships are what make networking a valuable and rewarding process. We do business with those we have relationships with!
Phase
Phase
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
: I know the other person
This is when someone asks you about another person and you can say “Yes, I know him/her.” And, you can tell a little about their background and expertise. But, you wouldn’t put your reputation on the line for this person.
Phase 4: I recommen
This is when someone asks you about another person and you can say “Yes, I know him/her.” And, you can tell a little about their background and expertise. But, you wouldn’t put your reputation on the line for this person.
Phase 4: I recommen
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
this person highly
This is when you can honestly recommend this person to another and put your reputation on the line. This is when you are selling this person to another because you have taken the time to really know them, and they you. Now you are both comfortable i
This is when you can honestly recommend this person to another and put your reputation on the line. This is when you are selling this person to another because you have taken the time to really know them, and they you. Now you are both comfortable i
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
n providing the most powerful referral, a personal one.
The more people you get to Phases 2 - 4 then the more powerful your network will become!
And don’t forget a couple of other simple rules when networking. First, always ask how you might be able to help the other
The more people you get to Phases 2 - 4 then the more powerful your network will become!
And don’t forget a couple of other simple rules when networking. First, always ask how you might be able to help the other
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
erson. If you give, then you will receive. And, surprise, it is not as hard or time consuming as you may think.
Second, create interest in yourself when you first meet someone. How? Start by having a very short statement or ‘hook’ phrase that creates interest for the l
Second, create interest in yourself when you first meet someone. How? Start by having a very short statement or ‘hook’ phrase that creates interest for the l
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
stener. You know, the answer to the question ‘what do you do’? Why? You only have 10-15 seconds to capture their interest.
For example, a Vice President of Engineering could just say “I am a Vice President of Engineering”. This is possibly impressive to some but amongs
For example, a Vice President of Engineering could just say “I am a Vice President of Engineering”. This is possibly impressive to some but amongs
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
a group of executives, ho-hum, not at all interesting. But a friend of mine who is VP Engineering says, “I am a de-engineering expert”. Instantly he gets the question “what is that”? Now a conversation ensues and the other party will more likely remember this person ov
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
r most they have met.
Since most people can not come up with a ‘hook’ phrase, try creating a ‘value’ phrase. Determine what it is you really do, what value you bring to a given situation or problem.
Instead of that standard ‘title’ statement, use a statement about the
Since most people can not come up with a ‘hook’ phrase, try creating a ‘value’ phrase. Determine what it is you really do, what value you bring to a given situation or problem.
Instead of that standard ‘title’ statement, use a statement about the
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
value you bring to an organization or group. For example, “I establish engineering processes that are more efficient, easier to implement, and bring more profit to an organization”.
Isn’t that better? Someone said, “It is not who you know, but who remembers YOU”.
What
Isn’t that better? Someone said, “It is not who you know, but who remembers YOU”.
What
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
is an “elevator” speech? I used to think it was something you said while riding an elevator. It is really an expanded ‘value statement’!
Even if you think you never need or want to meet an engineering executive, you would still remember this person over most you meet.
Even if you think you never need or want to meet an engineering executive, you would still remember this person over most you meet.
.
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
If you want to establish business alliances and personal alliances…,
Get past introductions and start building relationships. You don’t have a network until you have relationships. Shaking hands at an event does not mean you have built a network. Take time to build rel
Get past introductions and start building relationships. You don’t have a network until you have relationships. Shaking hands at an event does not mean you have built a network. Take time to build rel
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
tionships that will add meaning to both your personal and professional life. Do not wait until it’s too late or you could be walking away from well deserved income.
Ask how you can help the other person, and, don’t forget to make an impression that others will remember
Ask how you can help the other person, and, don’t forget to make an impression that others will remember
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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