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Main Subject - Networking Your Way to Profits: Part 2 'Creating Your Elevator Speech'
At the end of ‘The Power of the Elevator Speech’ article I promised another example of an elevator speech and hot insights to making your elevator speech ‘hit the spot’- so here goes…
Have you ever been introduced to someone and when you ask what they do they’ve repl
Have you ever been introduced to someone and when you ask what they do they’ve repl
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
ied “Oh, I’m an accountant” or “I’m a solicitor/attorney” or “I’m a financial adviser”. Ya-awn! Bo-oring!
Did you know that there are different aspects to accountancy, finance and the law that can be quite fascinating. No, really! But only if they hit
Did you know that there are different aspects to accountancy, finance and the law that can be quite fascinating. No, really! But only if they hit
; 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
ng>your hot-spot. Because when someone says ‘accountant’ or ‘finance adviser’ it is so-oo easy to assume we know all we need to know, isn’t it?
But how about…
“Well, you know how some business owners are just too busy to keep an eye on the financial aspect
But how about…
“Well, you know how some business owners are just too busy to keep an eye on the financial aspect
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
s of their business, which means they are often paying too much tax or worse, missing the danger signs of the business heading for insolvency, don’t you?”
“What I do is keep an eye on the business finance, save on taxes and provide timely management reports, which me
“What I do is keep an eye on the business finance, save on taxes and provide timely management reports, which me
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ns the business owner can still keep their finger ‘on the profit pulse’ whilst driving their business growth.”
Don’t you think that sounds more interesting than “I’m an accountant”?
And once you’ve got your main ‘Elevator Speech’ sorted you can distil it down into a
Don’t you think that sounds more interesting than “I’m an accountant”?
And once you’ve got your main ‘Elevator Speech’ sorted you can distil it down into 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
1-liner like this!
“I stop companies over-paying on taxes”
Developing Your Own Elevator Speech
Find the answers to these questions and you have the start of your elevator speech.
Step 1: What is the real
“I stop companies over-paying on taxes”
Developing Your Own Elevator Speech
Find the answers to these questions and you have the start of your elevator speech.
Step 1: What is the real
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
> problem you can solve for people? If not a problem, how can you enhance their life or experience – home, personal, health, wealth or business?
If you’re not sure, ask your existing customers or clients what they were specifically looking for when they purchased fr
If you’re not sure, ask your existing customers or clients what they were specifically looking for when they purchased fr
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
m you.
Step 2: What was the consequences of this problem or lack of something? Were they losing sales? Friends? Income? Home comforts? Again, ask your existing customers if you are not clear about the ‘which means…’
Step3: Wha
Step 2: What was the consequences of this problem or lack of something? Were they losing sales? Friends? Income? Home comforts? Again, ask your existing customers if you are not clear about the ‘which means…’
Step3: Wha
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
t do you supply (product or service) that addresses this need? How can you resolve their problem?
Step 4: What benefits will people enjoy? What are the consequences of taking advantage of what you offer? Are they happier, richer, healthier, more
Step 4: What benefits will people enjoy? What are the consequences of taking advantage of what you offer? Are they happier, richer, healthier, more
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
profitable, more productive?
Now hone the answers you’ve got into short, succinct statements and precede each with the template words:
Step 1 “You know how…
Step 2 “Which means …
Step 3 “Well, what I do
Now hone the answers you’ve got into short, succinct statements and precede each with the template words:
Step 1 “You know how…
Step 2 “Which means …
Step 3 “Well, what I do
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
is…
Step 4 “Which means …
Nuances to Consider
A few things to keep in mind;
1) Always say “You know how some people/companies/businesses…” Nobody likes to be told they’ve got it wrong. You have to be subt
Step 4 “Which means …
Nuances to Consider
A few things to keep in mind;
1) Always say “You know how some people/companies/businesses…” Nobody likes to be told they’ve got it wrong. You have to be subt
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
le; saying some people or some companies implies it’s a problem other people or companies have – not you or the person you are speaking to. If he identifies with the problem you describe he can
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
sk questions and if he doesn’t, you haven’t insulted him by implying he does.
2) Being an observant sort of person, you probably noticed in the examples I included the words “don’t you?” at the end of the first ‘which means’, didn’t you? Including
2) Being an observant sort of person, you probably noticed in the examples I included the words “don’t you?” at the end of the first ‘which means’, didn’t you? Including
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
these words gets the other person nodding their head (or thinking “Yes”) in agreement with you. It involves them in what you are saying, starts to create rapport and opens them up for the ‘solution’ you are going to describe.
3) Be specific wherever possible. If y
3) Be specific wherever possible. If y
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
u can quote figures that catch people’s attention it makes your speech more memorable and people seek you out to find out more.
Let me give you my elevator speech to demonstrate what I mean…
“You know how some companies send out sales letters and get very low number
Let me give you my elevator speech to demonstrate what I mean…
“You know how some companies send out sales letters and get very low number
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
in response, which means they spend hundreds or thousands of pounds ($) on printing and postage with very little return, don’t you?
Well, what I do is increase the response to those letters by anything from 262% to 353%, or even more, without spending a penny (?) ex
Well, what I do is increase the response to those letters by anything from 262% to 353%, or even more, without spending a penny (?) ex
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
tra on print and postage, which means they get a substantial increase in sales and profits.”
The figures you quote, which must be truthful because you may be asked to substantiate them, makes your speech far more credible and intriguing.
Develop and Practice
The figures you quote, which must be truthful because you may be asked to substantiate them, makes your speech far more credible and intriguing.
Develop and Practice
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
/strong>
Work on the real solutions you offer, especially if you can identify something that is unique to you or your company. And use the speech whenever you can. At first you will feel awkward giving this little ‘speech’. But after practising and saying it a few
Work on the real solutions you offer, especially if you can identify something that is unique to you or your company. And use the speech whenever you can. At first you will feel awkward giving this little ‘speech’. But after practising and saying it a few
.
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
times it will become more natural.
At this stage you might be tempted to change the wording. Do be careful – the structure is important. You don’t want to lose the opportunity to intrigue new people you are introduced to, and getting the opportunity to expand your
At this stage you might be tempted to change the wording. Do be careful – the structure is important. You don’t want to lose the opportunity to intrigue new people you are introduced to, and getting the opportunity to expand your
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
network of contacts. Creating a very ‘woolly’ version of this powerful technique might do just that.
In the ‘Networking Your Way to Profit – Part 3’ article I reveal Your Hidden Marketing Opportunity… until then keep working on your Elevator Speech
In the ‘Networking Your Way to Profit – Part 3’ article I reveal Your Hidden Marketing Opportunity… until then keep working on your Elevator Speech
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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