Main Subject - Business

The two most common complaints about networking are: 1) I never meet people I can do business with and 2) I am always so uncomfortable going to networking events. These two complaints are related and c

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

an be relieved with a three step approach to networking that helps even the most frustrated networking wallflowers.

The three steps are:

Know the right events to attend

Know exactly how t

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

Examples of combination products may in

start and continue a conversation

Know exactly when and how to end a conversation

1. Know the right events to attend. Business gatherings that typically provide networking opportunities

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

are:

Chambers of commerce or other organizations’ networking mixers; accelerated networking events; service organization meetings. There you will find people from many industries, and people a

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

various levels of decision-making authority.

Industry specific organizations’ activities, where all attendees are in the same industry; or provide services to that industry.

Annual con

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

Combination pro

ference/conventions/trade shows that attract providers and vendors.You’ll know the right events to attend when you are clear about your networking goals. The number one goal should be to meet

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

people to whom you can provide solutions. If your product or service is perfect for a narrow niche, then you should only invest in networking events that attract people from that niche. If your product

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

or service can benefit people in a broad range of industries, you should identify your top three and attend events that attract people from those top three.

2. Know exactly how to start and continue

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

o conversation. Craft a script for your networking activities. The script will set you free: once you have committed to memory what to say, you will be free to concentrate on the other person. When it’

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

s your turn to speak, you’ll automatically say the right things.

Be the first to ask a question. Ask only this question: “John, I’m wondering, what’s the biggest challenge you’re facing in your busine

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

s today?”

As John answers, give him cues that encourage him to keep talking. Cues include: nodding, smiling, and saying, “really, tell me more.”
After two or three of John’s answers, y

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

Following aspects would a

ou’ll know if you have anything that could help John meet his challenges. Don’t say anything about that yet!

Option A – if you don’t offer a service/product that can help John, you move to the

dd to the challenges in developing combination products:

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

ext step, which is gracefully ending the conversation.

Option B – if you do offer a service/product that could help John, you can continue this conversation with a few more questions.

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

3. Know exactly when and how to end a conversation. Ending the conversation depends on whether you have chosen Option A or Option B.

Option A – there’s no fit between John’s needs and your services.

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

Say, “John, it’s been great talking to you. I don’t have anything to help you; however, as I go around and meet others, if I find someone who does, I’ll send them to you.” And then make eye co

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

ntact, smile and shake hands and move to the next person.Option B - you do have a service/product that could help John. Your next question should be, “how important is it that you do somethin

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

Professional from academic institutions, pharmaceutical industries, health care indust

about this now?” Now is the key word here. If it’s not important enough to fix now, go back to Option A, end the conversation and move to the next person.

If it is important t

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

o fix now, you have the opening you need to ask for just one thing: that John will take a phone call from you in the next two days.

Come to a specific agreement on when this phone call will tak

.

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

place.

Make eye contact, smile, shake hands, and move on.

Repeat these three steps with other people in the room. Quality is more important than quantity. You want to build rapport wi

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

Companies that provide selfless information through particip

th two or three people, then have meaningful exploratory phone calls with them immediately.

Get away from the wall and get into the crowd and you’ll find profit in every networking investment you make

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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To be successful in marketing your business you need more than just a collection of marketing tactics, you need a strategy and a game plan.

My experience in negotiating with Arab Business men has been a lot of fun and it was quite a challenge at first due to the cultural differences. You see they like to sling a little bull now and again and are more similar to horse traders in the Old West in many regards. Some say that like to BS a lot and you often find yourself in a convoluted storyline

There are five very important factors, which must be adhered to in order to be successful in any home based business.

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Main Subject - Wallflowers Guide to Networking in a Crowd

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