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Just Other Articles - Booklet Sticker Shock - Getting Paid for Your Business Card
"My expertise is worth literally billions of dollars. Why would I put a $5 (or less) price tag on it?"
Yes, I completely agree that your expertise is absolutely worth plenty, and certainly a whole lo
Yes, I completely agree that your expertise is absolutely worth plenty, and certainly a whole lo
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
t more than $5 for a single copy of your booklet, and charging even less when filling a large-quantity order. There is no denying it, even for a split second, by anyone’s definition.
And this is some
And this is some
; 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
thing I hear at least several times a week from you as a booklet author or someone consider creating one or more booklets.
Follow me for a moment into a slightly different perspective and then tell m
Follow me for a moment into a slightly different perspective and then tell m
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e what you think.
When was the last time someone paid you $5 for your business card? Yes, your actual business card, the one you pull out of your wallet or snazzy business card holder. Or even $1 or
When was the last time someone paid you $5 for your business card? Yes, your actual business card, the one you pull out of your wallet or snazzy business card holder. Or even $1 or
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
less for your business card or glossy company brochure? I’m guessing that has yet to happen.
And then, at their own expense and effort they sent that 'business card' to thousands (maybe tens of thous
And then, at their own expense and effort they sent that 'business card' to thousands (maybe tens of thous
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
ands or hundreds of thousands) of people you have yet to meet.
And these people who got your 'business card' turns out are wanting to do business with you in a big way, people who can well spend tho
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
usands and thousands with you, who came to you through that 'business card' that you were paid $5 or less for.
And you turned several hundred percent in creating and distributing that 'business card'
And you turned several hundred percent in creating and distributing that 'business card'
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
in the process.
How do you feel when you look at it from that perspective? Quite a bit different, isn't it? Instead of paying out of your own pocket to reach beyond your current client base to gene
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rate additional business, someone else not only did it for you, they paid you to allow them the chance to do so. How does sit with you?
It turns out that booklets are more of an emotional experience
It turns out that booklets are more of an emotional experience
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
than you may realize when first getting started. You feel that your image is on the line. Understandably so. It is not uncommon to hear you say the content needs to represent everything you know or ev
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
er expect to know on your topic. You are not realizing a booklet is the entry point for the reader into your expertise, that you will develop other products to take the reader further.
You think the
You think 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
design of your booklet has to be a 4-color cover with photography, a glitzy interior design, include reference to every product and service you offer, and have not a single typo anywhere in it or it i
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
s nothing at all. Yes, image is important and excellence is the goal. There is no disputing any of that.
It is, however, more important to realize that overproduction of your booklet can make it too
It is, however, more important to realize that overproduction of your booklet can make it too
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
expensive for large-quantity buyers to bring into their budget, even with the current technology lowering the costs. Remember that those large-quantity buyers are your representatives. They want to pa
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
y you for them to reach a much larger fish bowl than the one in which you currently swim. If the large-quantity buyer wants a more involved or elaborate design, on a big enough quantity they can proba
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
bly do a good job of that within their own company's production activities by licensing specific print rights from you. When print is a large part of your buyer’s everyday business function, they can
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
do production less expensively than you can.
Find those large-quantity buyers. They are at the head of the sales or marketing departments of corporations. They might even be at the head of investor r
Find those large-quantity buyers. They are at the head of the sales or marketing departments of corporations. They might even be at the head of investor r
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
elations for the company. Several years ago a booklet author licensed a booklet to that department for $30,000. It was a wonderful transaction and that 'business card' reached some very important pros
.
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
pects for the booklet author's business.
Look also at associations. Have the association make the purchase from you so they can engage one of their sponsors in subsidizing it. The members of the asso
Look also at associations. Have the association make the purchase from you so they can engage one of their sponsors in subsidizing it. The members of the asso
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
ciation get your 'business card' and, once again, are potential clients for your business.
Do you still feel you are undervaluing your expertise by charging $5 or less on a booklet? I didn't think so
Do you still feel you are undervaluing your expertise by charging $5 or less on a booklet? I didn't think so
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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