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What if I told you I have a recipe to propel your business not only to the next level, but to the next stratosphere? Interested? Complicated? Not really. Have a plan. Yep, that’s it, create a

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

plan and map out a course for your business. It isn’t even that complicated to do. The hard part is doing these things everyday, and reviewing your plan to make sure you stay on course. Consider

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

Examples of combination products may in

the following:

What need are you meeting? Is there a market for it? For example, if you do consulting on the care and cleaning of adding machines, the world may have passed you by. But

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

f you consult on challenges faced in today’s highly technical, fast changing workplace, you may find yourself in demand.

Are you better than the competition? Check it out! Network with ot

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

her small business owners. Develop relationships. Get a mentor. Many successful business people are happy to share what has worked in their business. If you don’t know what’s going on in your m

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

Combination pro

rketplace, you may find yourself left behind. And the minute you are perceived as pass? by clients and prospects, business will dry up.

Are people willing to pay for what you do? If not, f

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

ind another line of work. The name of the game is bringing in new business. Look for ways to promote your business and products. Interview current clients: ask them for leads, ideas and thoughts

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

Always try to get referrals from people who have already “bought in” to what you do. Other ways to find customers? Purchase a list from a list broker. Be as specific as you can. Talk to some

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

clients of the broker and interview them about their experiences. Personal referrals by friends and colleagues are another great way to get business. Prospect on the Web. This has changed busin

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

ss marketing and selling profoundly! You must always be seeking ways to bring in new business.

Motivate prospects to take action. Find a reason to convince the prospect that you have what

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

they need. How do you do that? By being able to communicate effectively what you do, and why you do it. Have a “positioning statement,” which is nothing more than a benefit and outcome statemen

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

Following aspects would a

t. Essentially it states: “This is why you need me (benefit), and this is what you can expect if you buy my product or become my client (outcome).” If you become good at stating your benefit and

dd to the challenges in developing combination products:

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

outcome, and have marketing materials that reinforce this message, you have a better chance of making a deal.

Keep up communication—build the relationship! Are you good at building relatio

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

nships? People like to do business with people they like. Rocket science? No! However, many don’t realize that good relationship-building is an absolute requirement in business. Anything you c

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

n do to enhance your skills will help. After you have made an initial contact, the two most important words in your vocabulary must be “follow up!” Be creative with how you keep your name in fron

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

t of your prospect.

Getting the order. This is what it is all about! If you can’t do this, you can’t stay in business! Guess what the biggest mistake is that sales people make at this po

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

Professional from academic institutions, pharmaceutical industries, health care indust

nt? They never ask for the order! If you have spoken to the person who is the decision maker, supplied promotional materials that outline benefits and outcomes, follow up, have qualified the pros

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

pect in appropriate areas and you still can’t get a decision, compel a decision! Ask! “What else do you need from me?” “Are you ready to use my product?” “Should we put down the details on pape

.

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

to finalize your order?” “Would you like me to go ahead and send you a confirmation?”

Review the above steps and see how they could benefit you. How many of these things are you currently doing

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

Companies that provide selfless information through particip

? How many do you need to begin doing?

Success in business is about follow through and consistency. If you follow the above steps, you will get more business. And isn’t that what it’s all about

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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