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You are here: Home > Business > Entrepreneurialism > Free Agents -- Feedback is Important If You Want Success and Happy Clients |
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E-Articles - Free Agents -- Feedback is Important If You Want Success and Happy Clients
Even if we don’t always want to hear it, feedback can strengthen our businesses. In this article I discuss the value of feedback, how to get it and act on it, and when 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 to give it. I learned the value of feedback while working in the restaurant business. I started as a server at a Marriott Hotel where we were asked to give our guest ; 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 evaluation cards to fill out. At first I hated doing this, even though guests were thanking and praising my service along with leaving hefty tips. Then we had a contest to lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. reward the person who turned in the most cards (which I won, by the way). The feedback was mostly laudatory, but I also picked up some suggestions on how to be even bette here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe r. And, if a guest was unhappy about something besides my service, the hotel benefited by knowing. When I switched to a different restaurant, I learned even more about th d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro e value of feedback. We had "shoppers" who filled out a questionnaire from the moment they got out of their vehicle. It was eye-opening. You see, if no one is ever asked for 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 feedback, most will not complain, they will just leave, never to return. Other people to ask for feedback are those who are in the same or similar business as we are. 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 The Small Business Association has an organization called S.C.O.R.E. which consists of a group of volunteer, retired business people who will answer questions and share their nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically past experience and expertise with you. It is also a good idea to ask for a short interview with someone who is doing what you do, or want to do, and pick their brain -- eve 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 n better, treat them to lunch or breakfast. My one caveat is not to waste their time (see the following). Once we get this valuable feedback, it is important to take acti ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi on. If we just get feedback that either makes us feel wonderful or lacking and react positively or negatively without acting on it, then what was the point? Recently, I w ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a as part of a group who were asked by a young woman preparing to give a seminar at a regional conference to preview her presentation. We were to be "tough" with our comments a dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod nd tips. It was a dry and technical topic and she was OK but not very exciting. Trusting and knowing her and her sincerity, we gave her many suggestions on what worke cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin d and what didn't. Two weeks later, I witnessed the updated presentation at another meeting. She had taken all our suggestions, used them and even more. Her presentation was tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen rofessional, interesting and exciting. I give her a lot of credit for being willing to listen and act. We all gained from the experience! What about giving feedback? 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 Oftentimes, I am asked for feedback. First, I make sure that the person asking truly wants helpful feedback. There are some who ask for it, but will quickly become defensive ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust if you suggest any changes. Read how they are reacting -- if they are looking for polite praise, it is OK to tell them the good. Then there are those who ask for suggesti y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ons on how to improve, take up lots of your time and effort and then never follow through with any action. I see this often in the fitness classes I teach. I am always ha . 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 ppy to stay after class to discuss nutrition and/or how to get started with a fitness plan. As time goes on I see them gaining rather than losing fat and working out less and elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip less and finally disappearing (maybe returning a year later and asking the same old questions). So, be cautious when asked for feedback. Not everyone really wants it. 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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