Main Subject - Business

I have always dreaded networking in the past. Since I worked for large companies and wasn’t primarily responsible for business development, it was something I could effectively avoid for the 18+ years of my career. When I decided to

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

go into business for myself, I have to tell you that I dreaded getting out there and networking.

I knew that networking would be critical to the establishment of my new business and was a major part of my strategic sales and marketing

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

Examples of combination products may in

plan. Since my business is entirely targeted to women, I researched women’s networking groups in my area and just started showing up with business cards. Something surprising happened. I started making connections at these meetings

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

with women I truly enjoyed, respected and admired. I attribute this positive result to the fact that instead of going out and bombarding people with my message, I entered the room determined to find out more about these other women.

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

Naturally, in the course of our conversations I was able to discuss my company and the services I provide, but it goes deeper than that.

To effectively network, you need to take an interest in the other person, listen to what they ar

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

Combination pro

e telling you and, eventually ask for what you need. So many people write off the person they are speaking to within a couple of seconds but keep in mind that you are not just communicating with that person, you are communicating with

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

their entire network…likely more than 200 people. Who knows who their sister, business partner, brother, husband, etc may be. Perhaps the one person who can take your business to another level?

The best networkers truly want to hel

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 their contacts. It’s not a manipulative thing. You don’t feign interest to get what you want. You truly engage and try to match make in a business sense. After all, most valuable business people are well known for their broad and

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

diverse network of resources. It is very valuable to be the one person people think of to call when they need a marketing research company, a professional organizer, a talented graphic designer, an awesome speaker, a top-notch meetin

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

g planner or a great attorney.

A phenomenal woman I know, Neen James is a dynamic, funny and truly gifted speaker and an expert on helping people increase their productivity. She also happens to be one of the authors of a fabulous bo

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

ok called, Network or Perish: learn the secrets of master networkers.

According to Neen’s book, there are some effective ways to find the right network and to get the most out of networking:

Choose the right network fo

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

Following aspects would a

r your business

Organizations can be expensive to join. Visit the meeting twice before joining

Commit to the events

Get involved—volunteer for a committee or to do a job during the meeting itself

dd to the challenges in developing combination products:

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

li>Never hand out cards with crossed out information. Always present a positive image

Schedule a follow up time and a 20-minute coffee meeting

Appear confident – even “fake it till you make it”

Be aware

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

of your body language—stand up straight and tall

Don’t fidget

Introduce yourself first

Shake hands

Use a person’s name several times when you first meet

Have some prepared questions pla

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

nned

Listen intently

Here are some of my own tips:

Have a :30 “elevator speech” prepared for when someone asks what you do
Work to think of connections you can make for the person to whom you a

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

re speaking. People will naturally want to connect you with prospects as well

speaking about what you do, focus on the benefits your customers receive as a result of working with you. For example, "as a result of my servic

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

Professional from academic institutions, pharmaceutical industries, health care indust

es, my clients achieve reduced stress and overwhelm, increased self confidence, increased earning potential and the ability to spend more time with their family without sacrificing work"

Be sure to express your positive thoug

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

hts about the person’s business. So many times we assume successful people know that they come across effectively, look fabulous or have created an amazing business. When you admire someone, tell them. They will truly appreciate it<

.

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

/li>

Remember, networking is a process. Chances are you won’t meet 10 potential clients at the next event. Your goal should be for others to get to know you, the resources you possess and the services you offer. People want to

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

Companies that provide selfless information through particip

do business with people they like. Realize that these events allow people to become acquainted with you and eventually utilize your services or recommend you to someone else

Just get out there and enjoy yourself!

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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If you don't have a clue about what to do career-wise, here's a unique approach to working it out.

Realize that what you put into your career you will get out of your career. Your integrity and work ethic are closely linked. Satisfying yourself and building trust with those around you, your work ethic will build your integrity.

Handling multiple customers is a juggling act that requires people handling skills. You don't want to offend or lose either customer, but by faltering in your juggling you run the risk of losing one or the other, or both.

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