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References - 7 Step Plan To Get Going With Networking
Whether you’re an introvert or an extrovert, feel like you have the gift of gab or just don’t know how to make small talk, networking know-how is very important for your business success. There is a notion in business that I believe most of us subscribe to that says “all things being equal, people will do
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
business with and refer business to those they know, like and trust.” And the key to this is obviously being able to develop relationships.
Think of networking as the cultivation of mutually beneficial, win-win relationships. In order to be win-win, there must be GIVE and take (notice the emphasis on give
Think of networking as the cultivation of mutually beneficial, win-win relationships. In order to be win-win, there must be GIVE and take (notice the emphasis on give
; 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
). Networking shouldn’t be viewed as “events” where you go to sell your business. When effective networking is taking place, the parties involved actively share ideas, information, resources, etc.
Ok, so you know that you should be networking because it is one of the most cost-effective lead generation ac
Ok, so you know that you should be networking because it is one of the most cost-effective lead generation ac
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tivities when used wisely, appropriately and professionally. But, maybe that seems easier said than done. Here’s a seven step plan to really get going with networking for your business.
1. Check out several groups to find the best chemistry and perceived value. Most groups will allow you to come and visit
1. Check out several groups to find the best chemistry and perceived value. Most groups will allow you to come and visit
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
at least a couple of times before you have to join. Go and ask around to find out why others have joined and what value they get out of belonging.
Resist the urge to just go join the Chamber of Commerce simply because everyone tells you that’s what you need to do. If that’s not where your target group can be fo
Resist the urge to just go join the Chamber of Commerce simply because everyone tells you that’s what you need to do. If that’s not where your target group can be fo
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
und, then you might just be wasting a considerable amount of time (and money).
I’m not telling you not to join the Chamber. Just be clear about what you’d like to get out of this or any other group. If it’s to find prospective clients or referral sources, then you need to be networking where those resources can
I’m not telling you not to join the Chamber. Just be clear about what you’d like to get out of this or any other group. If it’s to find prospective clients or referral sources, then you need to be networking where those resources can
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
be found.
2. When you find a group or two, join and go to all the meetings you can. Don’t go just once or twice expecting things to happen and then if they don’t quit. Building mutually beneficial, win-win relationships will take some time.
The contacts you make need to constantly see your face and hear
2. When you find a group or two, join and go to all the meetings you can. Don’t go just once or twice expecting things to happen and then if they don’t quit. Building mutually beneficial, win-win relationships will take some time.
The contacts you make need to constantly see your face and hear
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
our message. Continual contact with others over time will open up opportunities for you to go deeper and learn more about each others thoughts, ideas and capabilities in regards to your respective businesses.
Know, like, and trust generally only happens over time. Being regular and persistent will pay off.
3
Know, like, and trust generally only happens over time. Being regular and persistent will pay off.
3
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
. Get involved - be visible. Do as much as you can to make yourself more visible within the organization. Volunteer to help with meetings, be on committees, or become a leader or board member.
Being involved does a couple of things for you and your business. First, you’ll get more opportunities to establish
Being involved does a couple of things for you and your business. First, you’ll get more opportunities to establish
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
connections and get to know some of the contacts you’ve made even better. Secondly, the higher the visibility you have in the group, the less you’ll have to work to make new connections. Instead, as new people come into the group, they will likely seek you out because they view you as a leader within the organiza
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
tion.
4. Keep your circles of contacts informed. Don’t just assume that running in to someone once a month (or even once a week) will cause them to start doing business with you or sending it your way. You need to let them know what’s going on when you’re not at that particular group in order to inform an
4. Keep your circles of contacts informed. Don’t just assume that running in to someone once a month (or even once a week) will cause them to start doing business with you or sending it your way. You need to let them know what’s going on when you’re not at that particular group in order to inform an
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
d educate them.
Send them invitations to your events or open houses. Send them email or letters to share big news or success stories, especially anything of relevance to them or those in their networks of contacts. If you believe that you have valuable ideas, information and resources to share with others, then
Send them invitations to your events or open houses. Send them email or letters to share big news or success stories, especially anything of relevance to them or those in their networks of contacts. If you believe that you have valuable ideas, information and resources to share with others, then
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
doesn’t this just make sense?
5. Work at GIVING referrals and sharing valuable information. That’s right, you need to be willing to GIVE before you get. That means you need to get to know other members and what makes a good prospect for them. What kinds of information might you have access to that could b
5. Work at GIVING referrals and sharing valuable information. That’s right, you need to be willing to GIVE before you get. That means you need to get to know other members and what makes a good prospect for them. What kinds of information might you have access to that could b
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
e useful to them?
You may initially think you don’t have much of value to share with others (besides your business and what you provide). Part of the key to getting good at giving is to not make assumptions. For example, don’t assume that some basic resource (e.g., a web site) that you’re aware of is familiar to
You may initially think you don’t have much of value to share with others (besides your business and what you provide). Part of the key to getting good at giving is to not make assumptions. For example, don’t assume that some basic resource (e.g., a web site) that you’re aware of is familiar to
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
someone you might be talking to just because they are the “expert” in that field. Be willing to ask if they know about the resource and ready to share if they don’t.
Want to get better at actually giving referrals? Here’s a simple question to ask someone you’re connecting with. “How am I going to know when I mee
Want to get better at actually giving referrals? Here’s a simple question to ask someone you’re connecting with. “How am I going to know when I mee
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
t a really good prospect for you?”
Just the fact that you are willing to explore giving will elevate your know, like and trust factor.
6. Focus on Quality, not Quantity, Quantity, Quantity. It’s not necessarily about the number of connections you make, but about the quality of the ones you do make. Are t
Just the fact that you are willing to explore giving will elevate your know, like and trust factor.
6. Focus on Quality, not Quantity, Quantity, Quantity. It’s not necessarily about the number of connections you make, but about the quality of the ones you do make. Are t
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
hey mutually beneficial, win-win relationships?
Quality connections will be identifiable because all involved parties will be actively sharing ideas, information, and resources. Yes, it is true that you need to spend some time and effort getting to know the other person(s) and what’s important to them. But, you
Quality connections will be identifiable because all involved parties will be actively sharing ideas, information, and resources. Yes, it is true that you need to spend some time and effort getting to know the other person(s) and what’s important to them. But, you
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
also need to be clear and actively thinking about what information or resources you want and need.
Staying in touch with and following up with a smaller number of quality relationships will generally be much more productive than trying to follow up with a larger number of superficial contacts.
7. Be persiste
Staying in touch with and following up with a smaller number of quality relationships will generally be much more productive than trying to follow up with a larger number of superficial contacts.
7. Be persiste
.
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
nt, but be patient. The goal of a networking event shouldn’t necessarily be to come away with prospects every time you go out, but to come away with great connections. Networking usually takes time to get the relationships developed and nurtured.
Don’t approach networking as a scary proposition or a necessar
Don’t approach networking as a scary proposition or a necessar
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
y evil for being in business. Take the pressure off yourself and really focus on how you might be able to connect with someone you meet. Focus on them first and look for ways to be useful to them. As you become known as a connector you’ll eventually be ready to reap what you sow.
(c) - Kevin Dervin, KPD Marketin
(c) - Kevin Dervin, KPD Marketin
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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