Main Subject - Business

In the old way of making cold calls, we offer a sales pitch to a perfect stranger, cross our fingers, and hope for the best... isn’t that right?

This really doesn’t work very well in building a business rela

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

tionship (or any other relationship, for that matter). This is done best by stepping into the world of the other person and finding a problem we can solve for him or her.

That’s how we begin a conversation w

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

Examples of combination products may in

th another person – talking about them rather than talking about ourselves. It’s just a very common dynamic that occurs in any human interaction. When you’re dating somebody, for instance, if you just talk ab

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

ut yourself, they’re not going to like you very much, right?

It’s the same in cold calling. Don’t talk about your solution for a while. Talk instead about their problems for a bit. It’s a movement of dialog

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

e. This dialogue is around talking about their world and not about your product. That’s the shift. All you have to do is identify three or four major problems that your product solves, and use those problems

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

Combination pro

s phrases to begin the dialogue of your cold call.

You see, this new cold calling approach has to be tied to a specific, real problem that the person experiences in their world. This is needed in order for t

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

em to feel comfortable having a conversation with you. When you’re relevant to them and their world, they trust you. They sense that you’re there to help them solve a problem – not sell a product.

So remove

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

ourself for a moment from what you have to sell, and think about what problem your solution solves for somebody. For example, if you’re in the coaching industry, think about what problem you’re solving for yo

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

r clients. You might say, “I’m just calling to see if your company’s open to the idea of using coaches to improve management performance.”

When you use the word “open,” people respond positively. Who would s

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

y “no” to being open? You’re not challenging them. You’re not forcing a solution. You’re not even saying what you’re offering to sell. You’re simply asking a question around whether they have a particular pr

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

blem.

This also invites a question back to you. Potential clients will often ask at this point who you are and what you do. They might say that they already have a service, but they may need some more help.

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

Following aspects would a

So it opens up even more conversation.

Here’s an example of how salespeople focus their cold calling around something that appears to be a need, but they haven’t tied it to a specific problem.

Let’s look at

dd to the challenges in developing combination products:

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

financial services. In this case, people who sell financial services start cold calls with a focus on the future of the person’s situation. They might say, “I’m just calling to see if you’d be open to some ne

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

ideas to help you increase your income.” The better approach here would be to problem solve. For example, “I’m just calling to see if you’d be open to identifying any gaps in your portfolio that might be ho

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

ding you back in some way.” It’s about problem solving and closing gaps, as opposed to promoting a beautiful future. “Hire me and I’ll make you a lot of money!” Everyone does that. That’s the problem. It gets

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

old and very stale

You see, there’s no push here. There’s no sales pitch. There’s no presentation. The conversation is focused on really seeing if the person has a problem, and if they want to solve it. Aft

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

Professional from academic institutions, pharmaceutical industries, health care indust

r the first few phrases, you have a natural conversation back and forth. They may say, “What’s your service?” “How much does it cost?” And that’s the time to begin to really tell about your service -- but no

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

before that.

If you don’t talk about your solution for a while and instead talk about their problems, you’ll find yourself having better and deeper dialogue, with more trust.

So be careful not to immediate

.

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

y go into a presentation and spend the conversation talking about your service. In this new way of cold calling, you’re asking in a very conversational tone whether the other person has a problem that you can

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

Companies that provide selfless information through particip

solve.

You won’t believe how this simple technique can make such a difference in the way potential clients receive your cold calls. Tension and resistance are vastly reduced, and results are greatly improved

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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Business process management tools are comprised of planning, organizing, staffing, leading, controlling and coordination. Planning involves selecting missions and objectives and the actions to achieve them; it requires decision making like choosing future courses of action from several alternatives. No real plan exists until a decision (a commitment of human or material resources or reputation) has been made. Before a decision is made, all that exists is a planning study, an analysis or a proposal. There is no real plan.

Wouldn’t it be great to have a year where your marketing efforts were streamlined and got the results you were after? None of us want to struggle with marketing, and yet this is the one topic that continues to be highest in the minds of small business professionals. Let’s really consider some of the reasons that can sabotage our marketing efforts, and how we can turn that around.

If you're tired of working way too hard for so little, have customers who are flocking to your competitors or just want to take your business to the next level, read on

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