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Main Subject - Jump Start Your Network
Networking is often identified as a key business building activity for small business owners, especially those just getting started. Often we think of networking as meeting as many new people as possible. However often, as was pointed out to me following
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
a recent presentation I gave on networking, we overlook a key group of people as we set out to develop our network. And that is those people we already know.
Incorporating the people you already know into your networking activities is crucial because you
Incorporating the people you already know into your networking activities is crucial because you
; 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
already have a relationship with them.
They are people with whom you already have credibility. They already know the quality of your work.
Therefore, you don’t have to go through the relationship and credibility building stages before these contacts ar
They are people with whom you already have credibility. They already know the quality of your work.
Therefore, you don’t have to go through the relationship and credibility building stages before these contacts ar
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e willing to do business with you or recommend you to others.
Many of the people you already know may be people you haven’t spoken with in awhile and most certainly if you are just getting started with your business, they have known you in another context.
Many of the people you already know may be people you haven’t spoken with in awhile and most certainly if you are just getting started with your business, they have known you in another context.
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
So how do you begin to develop an active network of these individuals?
Develop a list. Start by developing a list of everyone you have worked for in the past, everyone who has worked for you, and those people you have worked with. If it does not raise l
Develop a list. Start by developing a list of everyone you have worked for in the past, everyone who has worked for you, and those people you have worked with. If it does not raise l
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
egal or ethical issues, consider clients or customers you have worked with in former positions. Include family, friends and associates from other activities that you have participated in such as civic organizations, church or social/hobby groups. Go throu
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
gh your address book, both the one you currently use and any old ones you might have lying around; review membership lists of any organizations you belong to; if you have phone directories for any companies you used to work for or client listings from these
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
companies review those.
Prioritize the list. If you are like most people, your list will probably be pretty long and it may seem like a daunting task to begin reconnecting and re-establishing relationships with those you are no longer in contact with. P
Prioritize the list. If you are like most people, your list will probably be pretty long and it may seem like a daunting task to begin reconnecting and re-establishing relationships with those you are no longer in contact with. P
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ioritize the list with those who are most likely to have a need for your services or know someone who is likely to have a need at the top.
Gather contact information. It is likely that you have lost touch with at least some of the individuals on your list
Gather contact information. It is likely that you have lost touch with at least some of the individuals on your list
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
. Who do you have contact information for that might be able to provide you with a current telephone number or e-mail address for someone else on your list? The process of collecting contact information for those you have lost contact with is a great way
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to begin the process of reconnecting with those on your list that you do know how to reach.
Commit time to the process. Commit a set amount of time each week to re-connect and maintain contact with the people identified above. This is not about making a
Commit time to the process. Commit a set amount of time each week to re-connect and maintain contact with the people identified above. This is not about making a
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
phone call, shooting off an e-mail or sending out a letter to let these individuals know about your business. It is the process of re-establishing and maintaining relationships with these individuals.
Look for ways that you can assist and support them. B
Look for ways that you can assist and support them. B
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
fore you make a request for help from the person you are connecting with, think about ways you can be of assistance to them. When you contact someone from your list, especially if it is someone you have not had contact with on an ongoing basis, tell them y
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
ou want to update them on what you are doing and that you want to find out about what they are doing. Ask them what they need and how you might be of assistance. If appropriate based on your previous relationship, re-connect on a personal level as well as
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
a business level. Ask how the kids are and what they’re doing now.
Stay in touch. Networking is about relationships and relationships require ongoing contact and communication. The most effective way to maintain contact is to follow-up with referrals,
Stay in touch. Networking is about relationships and relationships require ongoing contact and communication. The most effective way to maintain contact is to follow-up with referrals,
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
information, or ideas that you can assist them with. It is not about calling once a month or once a quarter to see if they have any business or any referrals for you.
Don’t neglect those lower on your list. Don’t overlook those individuals who did not ma
Don’t neglect those lower on your list. Don’t overlook those individuals who did not ma
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 the top of your list, especially if they are people whom you have or had a strong connection with. These people may be able to assist you (and you may be able to assist them) in ways you never even dreamed of.
Incorporate everyone into your “Rolodex”.
Incorporate everyone into your “Rolodex”.
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
In this age of computerized address books and PDAs it is easy to maintain an up-to-date address book and carry it with you everywhere you go. You never know when you might be able to provide a referral for one of the members of your network and it is power
.
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
ful to be able to provide their name and contact information right on the spot. Add them to the mailing list for your newsletter, Holiday Cards, and any other mailings you might do. It’s just one more way to maintain ongoing contact.
Focusing on the peop
Focusing on the peop
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
le you already know to jumpstart your network can be not only profitable but also very enjoyable as you reconnect with old friends and re-establish neglected relationships.
© 2003 Strategies-by-DESIGN. May be reprinted with credits and contact information
© 2003 Strategies-by-DESIGN. May be reprinted with credits and contact information
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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