Main Subject - Business

How do you, as a consumer, make your buying and purchasing decisions? When you need to buy a magazine, how do you decide which store to buy from? When you want a coffee, ho

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

w do you decide which coffee shop to go to? When you need a new pair of jeans, how do you find a jeans store? You don’t ask your friends or colleagues for recommendations o

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

Examples of combination products may in

r an introduction to the store owner. You already know where to find the proper store. Retail store owners get business by placing their stores in the proper places to get

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

edestrian or city traffic. You will find convenience stores to buy magazines from in strip malls, coffee shops on street corners, and jeans stores in shopping malls.

Retai

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

l store owners don’t engage in business networking to generate more business. A coffee shop owner doesn’t ask for introductions so that he can sell more coffee to more peop

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

Combination pro

e. He sets up shop at the busiest intersection that he can find so that as many passing pedestrians and motorists find him.

Retail does not engage in business networking,

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

so why does B2B? Business networking evolved from the concept of “six degrees of separation.” That is, you’re connected to anybody in this world, by no more than six degree

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

, through somebody that you already know. The concept evolved into the general thinking that being introduced to a buyer or decision maker inside a company that you would l

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

ike to sell to increases your odds of closing a sale because people will buy from people they know; an introduction from a friend or colleague extends the trust and, thus,

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

akes it easier to sell. This may be true but the time involved in getting introductions makes it impractical.

This further evolved into business networking groups created

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

to meet, usually monthly, to introduce themselves, to exchange business cards, and to pitch their products and services to each other. B2B salespeople would meet with other

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

Following aspects would a

B2B salespeople, usually over a meal like breakfast or dinner. There are, literally, thousands of B2B networking chapters across the country. These networking functions ar

dd to the challenges in developing combination products:

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

time consuming and a waste of your time. Think about it, an average networking group will consist of people like mortgage brokers, realtors, copier sales reps, financial p

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

lanners, accountants, and business consultants. They are all trying to sell their services to other people that are trying to sell their services. Salespeople are not buyer

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

, they are sellers. The buyers and decision makers don’t attend business networking functions. Why? Because buying is not difficult!

So think about this: selling is diffic

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

ult; buying is not. When a business owner or a decision maker in a company needs to buy something all he needs to do is open up the yellow pages or do an online search for

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

Professional from academic institutions, pharmaceutical industries, health care indust

hat he needs and he will find what he is looking for. So why do you continue wasting your time business networking? The top sales producers don’t; they become visible when

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

buyers are looking for their services. Just like the coffee shop owner that sets up shop where as many people as possible can find it, the top B2B sales producers are visib

.

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

e in the places where executives and procurement professionals are searching for their products and services. They are in the yellow pages, they have professional profiles

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

Companies that provide selfless information through particip

on internet websites, or they have their own website that are found through internet search engines.

The bottom line is business networking doesn’t work, just don’t do it

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 main principle behind the existence of facilities management is that businesses rely on a whole network of essential support services. From receptionists to the security staff, the business relies on a whole network of essential support services. Since facility management is multi-disciplinary, the jobs vary from project managers to cleaners. And since most of the services are not core to the business, many companies outsource such jobs. There are many companies which provide expert facilities. These mainly include building maintenance, cleaning facilities, catering, administration and security.

Before you prepare a business plan and start you own business, make sure you have enough money or will be able to raise whatever you need when you need it. However, the money needs for your business is variable and there are many ways you can reduce it.

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Main Subject - Business Networking: Just DON'T Do It

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