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What are the different sources of revenue you have? You need to determine these and which one is your “money-maker.” There are fo

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

ur different types of revenue within the seminar business. Each has a different position to making you money. When I plan seminar

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

Examples of combination products may in

s, I take each of these four streams of revenue and determine where the money goes from each one.

You must determine these reven

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

ue streams to make money!

1. Registration (Gate)
Your registration fee should be high enough to cover the expenses o

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

your conference. You are NOT going to make money in this area! The goal of registration is to cover your overhead cost, NOT make

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

Combination pro

a profit.

2. Sponsors/Vendors
Sponsors and vendors are a great way to help cover some of your overhead costs, also.

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

Another way to use this money is to provide something you wouldn’t normally provide. For example: At the Family Ebiz Expo, if we

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

are able to get a sponsor or two, we will add food at one of our break-out sessions.

3. Product Sales (Back of the Room Sale

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

- BOR)
This is your “MONEY-MAKER!” This is where you will bring in profit. Speakers will sell products; this should incl

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

ude your invited speaker and you! Yes, you should speak at your event! When a speaker speaks at your event, you get a 50% commiss

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

ion. This should be in your contract! This is very important, so that you make money. One of the reasons you should speak is you

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

Following aspects would a

get a 100% commission. This is your pay-day. This is where you will make the most money. Later on, I will talk about seminar etiq

dd to the challenges in developing combination products:

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

ette but if you follow the etiquette secrets I share with you, you should have the most sales at your event!

4. After Event S

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

ales
The last stream of revenue is after event sales. This can be a pretty big money-maker, also. Make sure to record an

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

d/or video the event (video-taping depends on your budget). You can then sell these recordings to attendees and those who didn’t

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

get a chance to come. There are different ways to sell these; either as a big package or as individuals talks. Right after the ev

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

Professional from academic institutions, pharmaceutical industries, health care indust

nt, I would sell them as a package. Then once things die down a little start releasing them one-by-one. This becomes a more const

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

ant source of income.

Remember where your “money-maker” is: Back of the Room Sales! This is where your profit will come from; no

.

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

t your registration costs!!! This is a mistake many people make. They think they can make profit and cover all the expenses in th

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

Companies that provide selfless information through particip

e registration costs. This is NOT true! Don’t try it! This shows why choosing speakers is so important. They are your money-maker

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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In times of economic uncertainty, it is important to be creative with the benefits offered to employees. One of the best benefits that a company can offer to its employees is a credit union membership. Many credit unions will agree to give memberships to the employees of a certain company. For a company, this is just like offering a raise, but at no cost to the company. It is a valuable employee benefit that is effective on more than one level, as it not only provides financial advantages, but also offers an emotional connection to the company

The way that we use language reflects cultural preferences for some types of communicative behaviour while discouraging others. Culture will affect, for example, the extent to which we speak loudly and animatedly or quietly, whether we use lots of ‘I’ statements, whether we choose very explicit language or whether we are indirect.

If you’re a sales professional and have had at least on career misstep, how do you deal with that when you’re interviewing for your next great job? This is an important question because we interview top sales candidates all the time and while there are many people who have had a smooth career without any bad decisions or failed startups, inevitably, most people have probably encountered some difficulty in their career along the way, particularly if they’re risk takers.

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