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E-Folder - The Secret That Will Help You Make More Money On EBay
It was the middle of the afternoon and I was hungry. Nothing decent in the kitchen to eat so I have go to get some food.
There was a new book shop just opened in the mall, one of those massive places with a Starbucks and a caf? on the upper floors. Since I had not read a book for some time, I could kill two
There was a new book shop just opened in the mall, one of those massive places with a Starbucks and a caf? on the upper floors. Since I had not read a book for some time, I could kill two
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
birds with one stone ( I hate that saying) and go there to eat and read
I immediately hit the business section. After' getting past the pile of Trump books that are doing the rounds at the minute, I found my partner for the evening. The 80-20 Principle, by Richard Koch.
Reading the back cover, it says that
I immediately hit the business section. After' getting past the pile of Trump books that are doing the rounds at the minute, I found my partner for the evening. The 80-20 Principle, by Richard Koch.
Reading the back cover, it says that
; 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
... 80 per cent of the output of an activity comes from 20 per cent of the inputs.
So how can this help you make more money on eBay?
Well, if you think about it, you'll realise that there's tons of different ways it can help you.
Now, the applications of the 80-20 principle will depend on the approach towa
So how can this help you make more money on eBay?
Well, if you think about it, you'll realise that there's tons of different ways it can help you.
Now, the applications of the 80-20 principle will depend on the approach towa
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
rds eBay that you're using. Let's say that you are dealing in a 'niche' market, trading in antiques of a certain kind. I don't know much about antiques, but let's say you are buying and selling ancient Chinese antiques. Now, what you might find here is that you'll have the same people buying these antiques re
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
peatedly. In other words...
. ..80 per cent of your business comes from 20 per cent of your customers.
The implications of this? Firstly, suiting your products to these 20 per cent. If they're buying X, give them more of X. Plus, make sure you keep these customers very happy indeed, because they are where t
. ..80 per cent of your business comes from 20 per cent of your customers.
The implications of this? Firstly, suiting your products to these 20 per cent. If they're buying X, give them more of X. Plus, make sure you keep these customers very happy indeed, because they are where t
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
he biggest profits lie. So think more of what they want, more freebies just for them, constant communication just for them and so on.
Something else: you might also find that 80 per cent of your great products come from...
.. .20 per cent of your supplier base...
Furthermore, you might find that 80 per cen
Something else: you might also find that 80 per cent of your great products come from...
.. .20 per cent of your supplier base...
Furthermore, you might find that 80 per cen
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
t of your hassle comes from 20 per cent of your products, and within that figure, 80 per cent of the hassle comes from 20 per cent of the hasslers! Or, generally, 80 per cent of hassles come from 20 per cent of your customers. Also, you might find that 80 per cent of your profit in a given year comes from a
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
selection of items - maybe 20 per cent of your items produce HUGE profits, the rest only mediocre.
But here's the interesting thing.
You see, the intuitive thing to do - if you have products that are losing, and some that are winning - is to try and 'work' the losers so they come up to speed. Not so, accord
But here's the interesting thing.
You see, the intuitive thing to do - if you have products that are losing, and some that are winning - is to try and 'work' the losers so they come up to speed. Not so, accord
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ing to the 80-20 principle. Because rather than bothering with these losers, we'd want to do more with those few that are winning.
Sounds strange, huh?
Because most people would try and work with the losers...they'd try to bring them up to speed. Well, the author of this book says that, instead, you should
Sounds strange, huh?
Because most people would try and work with the losers...they'd try to bring them up to speed. Well, the author of this book says that, instead, you should
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
concentrate your efforts on what's working best... the 20 per cent that's producing 80 per cent of the results. That's right. You DON'T concentrate on improving the. 20 per cent... you simply work harder with the 20 per cent that is producing 80 per cent of the results!
That may sound a bit well, silly - and
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
counter-intuitive. You'd think that if you had ten products, and eight were performing badly... well, most people's natural reaction is to try and boost the results of the bottom eight. Uh-uh. Go the other way. Try and boost the results of your best two.
Or, in the case of suppliers, concentrate more on the
Or, in the case of suppliers, concentrate more on the
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
best two. Or, if you've got a mailing list of buyers, concentrate on the top 20 per cent. How? As I've said, by treating them right... maybe rewarding them with free gifts and so on.
And what if you're selling products wholesale? And what if you're selling the same product over and over? Then what? Do you
And what if you're selling products wholesale? And what if you're selling the same product over and over? Then what? Do you
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
concentrate on the losers and try and improve them? Uh-uh. Probably wrong. Try the winners... and try to boost the results of what's already working.
I'll give you a practical, real-world current example. I tried a listing for a product. It went pretty well. In fact,
it went really well- better than I expe
I'll give you a practical, real-world current example. I tried a listing for a product. It went pretty well. In fact,
it went really well- better than I expe
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
cted. Now, it just so happens that I was selling the same product over and over again - the wholesale approach. But what could I do to expand? The logical thing would be to get more products.
But no. Instead of doing that, I listed the same product AGAIN - right alongside the identical product!
That's right
That's right
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
. I simply listed the same product again, at virtually the same time (i.e. running them simultaneously) but with a different picture. And it sold nearly as well. It's all about getting more out of the winning 80 per cent.
See, instead of diversifying, the implication of the 80/20 principle is actually one of
See, instead of diversifying, the implication of the 80/20 principle is actually one of
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
anti-diversification. Because instead of going into new markets and the like, perhaps I should concentrate more on the current niche that's working very well for me, and yes - working with the current one product that's working so well. So after the current product is 'hammered', and I've listed it as many w
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
ays as I can (concentrating on what's working), then I can try other products in that SAME market that's already producing great results for me.
Make sense?
What we're doing here is the opposite of diversifying our eBay business. It's concentrating purely on what's most effective at the current time, and wo
Make sense?
What we're doing here is the opposite of diversifying our eBay business. It's concentrating purely on what's most effective at the current time, and wo
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rking out ways to boost the current good results.
What's your best performing listing right now? Try listing more of it. Try new categories, new approaches, different descriptions and pictures.
Who are your best customers now? Sell them more, and make sure they're well looked after. Where are your profits
What's your best performing listing right now? Try listing more of it. Try new categories, new approaches, different descriptions and pictures.
Who are your best customers now? Sell them more, and make sure they're well looked after. Where are your profits
.
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
the biggest right now? Instead of trying to expand out in the logical way, try a different approach and concentrate on what's currently most effective.
Most eBayers don't think about these things! Very few do! If you stop to think about it for a moment, you might be surprised. If you analyse it, you'll proba
Most eBayers don't think about these things! Very few do! If you stop to think about it for a moment, you might be surprised. If you analyse it, you'll proba
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
bly be even more surprised. You might find just ONE product
is carrying your business, and it's that product that deserves a great deal more attention.
So I'd urge you to think about the areas of your eBay business where the 80-20 principle might apply - and how to harness it so you make more money on eBay
So I'd urge you to think about the areas of your eBay business where the 80-20 principle might apply - and how to harness it so you make more money on eBay
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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