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Main Subject - Nine Networking Tips For Your Next Christmas Event
This time of year is ideal for sharpening and honing your networking skills. There is not a better time to start building long-term business relationships. Christmas offers a chance to meet new people
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
in a relaxed and social atmosphere whilst maintaining a professional relationship level.
However it is important to uphold your professionalism to make optimum use of the networking opportunities.
However it is important to uphold your professionalism to make optimum use of the networking opportunities.
; 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
ine common mistakes people make when networking over the festive season include;
1. Not Planning Prior To The Event.
Work out what you want to achieve from going to the festive event. Is it just to
1. Not Planning Prior To The Event.
Work out what you want to achieve from going to the festive event. Is it just to
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
relax, have fun and unwind after a busy year? Is it to say thank you to your clients, meet new people or build long-term relationships? Your approach will differ in all these situations. Have a plan p
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ior to attending the event and try to reach set goals. An example might be to obtain three new key contacts or to reaffirm an existing relationship.
2. Running Out Of Business Cards.
There is nothin
2. Running Out Of Business Cards.
There is nothin
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
g more embarrassing or unprofessional than when someone asks you for a business card and you can't produce one. Always carry too many rather than too few. Being prepared gives you more confidence and
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
ntrusts confidence when developing new relationships.
3. Making A Beeline For People You Know
Most people have a great fear of walking into a room full of people they don't know. See this as a chall
3. Making A Beeline For People You Know
Most people have a great fear of walking into a room full of people they don't know. See this as a chall
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
enge rather than a handicap and avoid going for the easy option of meeting people you know well first. Certainly acknowledge these people but leave them until the end of the function to catch up with.
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
This will maximise your chances of meeting new people.
Make a goal to meet five new people at an event. Don't try and meet everyone of the 100 or so people at an event. Making a lasting impression wi
Make a goal to meet five new people at an event. Don't try and meet everyone of the 100 or so people at an event. Making a lasting impression wi
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
th a few rather than a shallow interaction with many is far more beneficial.
4. Talking Too Much
Avoid talking too much about yourself. This is probably the biggest turn-off for prospective clients
4. Talking Too Much
Avoid talking too much about yourself. This is probably the biggest turn-off for prospective clients
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
r alliance partners.
5. Not Listening
Business is all about providing solutions to people's problems. How can you understand their problems if you don't ask questions and listen? Use active listenin
5. Not Listening
Business is all about providing solutions to people's problems. How can you understand their problems if you don't ask questions and listen? Use active listenin
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
g skills to build rapport and gain a true understanding of their issues and concerns.
6. Hard Sell
Networking events are your opportunity to develop relationships. Avoid the hard-sell and get to kno
6. Hard Sell
Networking events are your opportunity to develop relationships. Avoid the hard-sell and get to kno
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 person you are speaking with. Once the relationship has been established the business will come. Initial hard selling may have the opposite effect and drive the person away.
7. Lack Of Clarity
7. Lack Of Clarity
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
Research shows that 95 per cent of business people are often asked, particularly at a networking function "what do you do?"
Many have difficulty articulating what they do, particularly in conveying t
Many have difficulty articulating what they do, particularly in conveying t
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
e benefits of their position to a prospective client. Having a 'personal branding statement' (PBS) really helps in this situation. It helps to clarify how you or your business can solve their problems
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
and takes all the stress out of answering this question!
8. Over Indulgence
As with all things in life, moderation is key. In this context it includes limiting consumption of alcohol to an acceptab
8. Over Indulgence
As with all things in life, moderation is key. In this context it includes limiting consumption of alcohol to an acceptab
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
e level and being mindful when introducing yourself to people. Remember you are a professional regardless of the situation or time of year. Respect those around you and your personal and professional
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
responsibilities.
9. Not Following Up
Many people simply fail to follow-up on the prospects or business leads they meet at festive networking events. Put in place a system to follow-up, otherwise ma
9. Not Following Up
Many people simply fail to follow-up on the prospects or business leads they meet at festive networking events. Put in place a system to follow-up, otherwise ma
.
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
y of your networking efforts will be wasted. This can be as simple as an email or phone call to acknowledge your interaction and does not have to be business related. A relationship which might not se
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
em to be initially good for your business may lead to you being referred on, one of the strongest marketing tools used to generate more business.
Good luck networking and building your social capital
Good luck networking and building your social capital
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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