Main Subject - Business

Business regardless of what type, will always be fueled by having the right people on the team. The biggest challenge many people face is where to find them. With the accelerated growth that the pet industry has enjoyed, luxury products for pets will propel the b

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

usiness to the next level. But once the products are in the store, it takes a talented team of people to understand how to sell the products to a high end client. The biggest challenge that many face is making sure that the team can relate to a luxury product.

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

he luxury customer expects to meet sales associates that are knowledgeable about the product and above all understands the client and how to cater to them. In business, there will always be tough decisions. No question that assessing your team is one of the tough

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

est challenges when changes have to be made because of the direction that you are moving into.

Many business owners with pet boutiques are constantly challenged to find quality individuals that can assimilate into a pets business that is targeted to a luxury custo

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

mer. In the luxury business, the relationship with the clients, the building of the relationships and referrels from clients will grow the business. A few things to note when staffing your store will make all the difference when running your business for profit.

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

Combination pro

1. Building your team will be inclusive of ensuring that the right personality and profile meet with the changing culture within your store. Interviews by other members of the team will help to determine if the potential candidate is a fit.

2. Your business is

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

evolving into a luxury environment and you need to upgrade your staff. How do you do this? First look within your team and ensure that each one of them shares the same passion for the business that you do. Difficult to do? No. The leader always sets the exampl

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

e and passion, energy and commitment to the overall goal is contagious. If members of the team do not share the same passion, then they are working for the wrong store. Always remember, that the longer you wait to make the change, the more missed revenue you are

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

missing. Does the image of your team attract high end clients?

3. Once you have assessed your team, train them. Bring in the vendors who always give great presentations because of their passion to host a morning meeting or give a product seminar. Knowledge is p

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

ower and knowledge breeds confidence. Make the meeting fun. Treat your team as you expect them to treat the client. Bring in breakfast on a silver platter, serve them with a cocktail napkin under their coffee or juice. Set the example and they in turn will set

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

he example for the client.

4. If you have determined a change may need to be made, hiring additional members of the team will be your number one priority. Where do you find them? Everywhere. If you are in business, looking for quality people is a 24/7 job. Ev

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

Following aspects would a

en when you are fully staffed. Remember that each member of your team should always carry their business cards as often times they can be your biggest ambassadors to finding the right people. If you are moving into the luxury arena, then it becomes even more impo

dd to the challenges in developing combination products:

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

rtant to go after people that are currently working in the luxury sector.

5. Great people to hire are everywhere you just have to look and be aware at all times. People who are currently working in cosmetics, luxury boutiques, upscale department stores, etc. are

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

excellent contacts because they already understand what it takes in working with a high end client. People that are working at 4 and 5 star hotels are excellent candidates to speak to. Sometimes, the best people to hire are the ones who may not have the most expe

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

rience, but they look the part, understand the luxury client because maybe they are one, are passionate about the business and can cultivate clients. Networking should be a constant practice.

6. Be confident when you are out recruiting. After all, you have taken

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

the big leap to start your own business and do what you love and are passionate about. People respect that and look up to people such as yourself. Often times, clients are great resources to tap into and get a referral as they understand what the business needs a

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

Professional from academic institutions, pharmaceutical industries, health care indust

nd what they want.

7. When you hire great people, they in turn attract great people because you have provided a fun and uplifting environment to work in.

8. Above all, always remember that the person that joins the team could also be the one that helps to train

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

and elevate your team. Meaning that if she has a client following already, that means that he/she knows and understands how to cultivate relationships, how to clientele, how to take care of the client which sometimes may mean delivering to their home or hotel.

W

.

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

here ever you are, remember that how you look, how you dress and how you carry yourself are important to attracting potential candidates. When you speak to people always ensure that you speak about your business with excitement and enthusiasm. Remember.......it i

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

Companies that provide selfless information through particip

s contagious. In life, people want to be a part of something great. That's what you have to offer. More importantly, people who love animals want to work in environments where they can work with other like minded people. Above all, remember that your team is YOU

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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Last Thursday I turned the subject of the article “The Medium vs. the Message” into a 20-minute speech, which I delivered to one of my Toastmasters clubs. At the beginning of the speech, I had everyone in the audience create a fake business card with their name and their current career listed on it. Then at the end of the speech, I had them do it again, and of course the results were different because people were thinking differently about their careers.

Radion and TV expert commentator, best-selling author, and President of Customersatisfaction.com, Dr. Gary S. Goodman, explores the disparity in earnings between inside and outside salespeople. This popular keynote speaker and sales authority finds no logical or economic justification for it.

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