Main Subject - Business

Developing win-win joint ventures is the fastest and most profitable way to skyrocket your online sales and boost your profits.

If you've been marketing online for any length of ti

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

me, I'm sure you've heard the term "Joint Ventures." Some of you may know what it means, some of you may not. So let's define the term and I'll share my simple four-step formula for

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

Examples of combination products may in

creating a win-win joint venture.

In the Internet Marketing world, a Joint Venture (JV) is a partnership between you and another business person to sell a product online by sending

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

an e-mail to a mailing list. Sometimes you have the product, and your partner has the list. Sometimes it's the other way around. And sometimes you both have your own products and li

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

ts and you cross promote each other's offerings.

In each case, it's a joint venture.

Sounds easy, right? It can be with the right product and the right partner... and the right ap

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

Combination pro

proach. If you follow the simple steps outlined below, you can be on your way to creating win-win joint ventures.

So what's the secret?

If you have a good idea, access or resale r

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

ghts to a great product, or a responsive mailing list (size really doesn't matter) you are a perfect candidate to create a winning JV.

Secret #1: Do It Now!

Just like Nike, you'll

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

never get anywhere if you sit in front of your computer with your great idea locked up inside you. Take a risk - ask the question. Identify potential partners and get in touch to sh

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

re your idea. The worst thing they can say is no. Just do it! You don't have to have a big name or million dollar reputation to approach someone on a JV. What matters most is the fi

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

t of your product or service to their list, or visa versa.

Secret #2: Approach The Right Partners

We all know the names of the big Internet Marketing players: Alex, Armand, Michae

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

... these are the guys with millions of names on their lists. "Wow... he has a huge list... I can make a fortune!" Not necessarily. While a big list is appealing, what matters most

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

Following aspects would a

s the fit.

So who do you approach? If you sell custom chia pet designs, don't approach Armand Morin. Chances are, your service isn't right for his market. If you sell wedding plann

dd to the challenges in developing combination products:

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

ng services, approach a wedding officiant. The trick is to approach people who offer products / services that complement, but don't compete with, your offerings.

Secret #3: Get Per

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

sonal

Getting up close and personal is the best way to JV success. Do your homework: visit the potential partner's website, try some of their products and find out the names of the

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

key players in the organization. Learn all you can about their business and don't ignore the human factor - learn about their quirks and personality. You can learn a lot about a per

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

on by the words they use to express themselves or by the words that others choose to talk about them.

When you're ready to approach, let your own personality shine through. Write y

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

Professional from academic institutions, pharmaceutical industries, health care indust

ur email in such a way to be personal, and to the point but make sure you stand out from the crowd. A form letter won't grab someone's attention.

Secret #4: Think Win-Win

The best

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

Joint Ventures are those where both parties win - professionally and personally. Don't get me wrong making money is good - making lots of money is even better; but great JVs are ab

.

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

ut more than just the bottom line. A GREAT JV is one that benefits both parties and starts a relationship that carries on to the next profitable project.

Remember: No matter what p

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

Companies that provide selfless information through particip

oduct or service you promote, you CAN find great JV partners to help you sell more in less time. And who knows, you may also create the foundation for a beautiful friendship as well

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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Email marketing can be used as an effective tool for communicating with customers. It is an effective medium of communication to boost sales by ensuring that your customers constantly remember you.

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