Subjects - Business

You simply have to have the will to do it--the will to self promote!

Over the years coaching with small business entrepreneurs, I find they often come to me with innate skills an

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

d ability, a vision of what they want, and a fairly clear picture of whom they will serve.

Some succeed, but for many their dream business seems to lose steam and die on the vine

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

Examples of combination products may in

.

Why?

Failure to launch!

Follow these three tips to help you kick your self- promotion into high gear. If you're already a great self-promoter, take these as reminders of the

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

basics to follow:

1. Before any meeting, networking event, or before you prepare any new Marketing collateral answer these questions:

Why me? In other words, why

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

should someone choose you over the many other options in your category?

Why now? Are you providing a compelling reason to have your audience take action today? If not, w

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

Combination pro

hat is a good reason for them to engage with you now.

2. Call everyone you know:

Share with them what you're doing and your value proposition (your unique selli

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

ng point). Don't be shy. Leveraging the relationships you already have is an effective way to get your promotional ball rolling.

Self-promotion is not obnoxious or rude - it is 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

ll in your delivery. It is however a NECESSITY in business.

If you are on the shy side and don't want to pick up the phone, zip off a quick letter describing your unique selling

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

point. In that letter you'll want to:

Ask if they have any need for your product or service.

Get referrals! Ask who they know that has a need for your product o

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

r service.

Ask them to make an introduction on your behalf before you get in touch with their referrals to you.

3. Network with a clear purpose:

There

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

are many ways to look at networking. My hope for you is that you choose to view networking as a simple, cost-effective way to promote your unique brand!

While we generally thin

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

Following aspects would a

k of networking as it relates to our business, it is also a great way to make personal connections and grow your sphere of influence in general.

You can network at targeted assoc

dd to the challenges in developing combination products:

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

iations and lead groups, or network with or through contacts and raving fans. Just get out there and network and remember:

Dress to impress - what you put on your back i

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

s your personal packaging so give it some thought.

Have a compelling elevator speech - if you can't articulate what you do then who can?

Ask LOTS of questions

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

and LISTEN for the answers - this is the starting point for establishing relationships.

Follow proper networking etiquette - handing out your business card or promotiona

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

l items without being asked makes you appear self-serving. Savvy networkers know that it's not about you...it's all about them.

Include a personal touch

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

Professional from academic institutions, pharmaceutical industries, health care indust

by hand writing thank-you cards to everyone you meet within five days of meeting them - while you are still fresh in their minds.

Be FEARLESS!

If you're wonde

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

ring if the ability to self-promote is something you're born with the answer is NO!

The skills towards becoming a master self-promoter is learned, the "will" to achieve wild succ

.

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

ess however, is quite another thing.

Not everyone has the "will," the ability to "focus," and the "desire" to do what it takes to create opportunities where business can boom. I

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

Companies that provide selfless information through particip

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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