Advice Pool - Home Based Business

Making money in this industry depends on a few fundamental factors: the soundness of the company, the quality and the market of the products, and your own enthusiasm, commitment, and hard work.

In every serious network marketing company, some peop

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

le are making six-figure incomes, and lots are making little or nothing. The latter are often people who dabble in network marketing with the "I'll try it for a couple of months" attitude.

That doesn't earn serious money. Serious money means seri

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

Examples of combination products may in

us work! Compensation plans also make a difference in your likely earnings. There are three prevalent types of compensation plans, each with a very different effect on group togetherness and potential earnings.

Binary Plans

Bina

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

y plans start with one center and a left and a right "leg." Each person receives commission on his group's sales volume in a given time period, often on a weekly basis. This type of plan encourages strong communication between upline and downline.

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

New distributors are continually placed underneath a distributor in the downline, regardless of whether he actually recruited the new person. Thus, you may receive income from distributors placed under you in your downline who were actually recru

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

Combination pro

ted by your sponsor. This is called "spillover." He recruited more than two people, and his extra recruits "spilled over" into your downline.

In the opinion of many professional network marketers, binary plans are the most equitable and lucrative

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

compensation plans around, but they are fairly new. Only a few companies feature them. This arrangement guarantees that you will always receive income on the sales volume of all distributors under you. There are no breakaway groups. Binary plans b

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

ild deep for long-term residual income. It is said, "Wide for show, deep for dough!"

Breakaway Plans

Breakaway plans are older and more common in this industry. In a breakaway, the sponsor recruits as many people as he can and p

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

aces them on his first level. They in turn recruit others under them who are placed on the sponsor's second level or below. Income is generated from retail sales margins, as well as from product discounts offered to the sponsor as he reaches each

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

successively higher "step." He also receives commission on his group's sales volume.

When one of these downline groups surpasses a specific amount of sales volume, that group "breaks away" from you and becomes independent. Generally, the original

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

sponsor then earns a much smaller commission on that breakaway group's future sales volume. This arrangement makes it much harder than does a binary plan for a sponsor to sustain a constant, high income.

Breakaways tend to form a diamond shape. T

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

Following aspects would a

hat is, you recruit a few people on your first level, each of them recruits a few more, and by the time you get to the 3rd or 4th generation, the lines are maximized. The structure then looks like a rough diamond, with the maximum number of distr

dd to the challenges in developing combination products:

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

butors on levels 3 and 4. The trouble is, the company probably pays out the highest commissions on levels 5-8!

Studies of commissions earned in this type of compensation plan show that most distributors never develop their lines "deep" enough to r

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

ach the highest payout levels. The second negative is that if someone in the downline is a booming business builder, it won't be long before he "breaks away" from your group and becomes independent, taking his downline along.

Matrix Plans

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

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Matrix plans are known as the 5 x 7 or 3 x 10 type plans. What that means is that you recruit five people on your first level, and you earn commissions on all distributors recruited by these first five down through the 7th or 10th level,

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

whatever the plan specifies.

Look at such plans very carefully. To make money, the highest payouts should be on levels 3 and 4, not deeper. Also, this type of plan does not particularly encourage group support or cohesiveness.

Conclusion<

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

Professional from academic institutions, pharmaceutical industries, health care indust

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Persuasion is the missing puzzle piece that will crack the code to dramatically increase your income, improve your relationships, and help you get what you want, when you want, and win friends for life. Ask yourself how much money and inco

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

e you have lost because of your inability to persuade and influence. Think about it. Sure you've seen some success, but think of the times you couldn't get it done. Has there ever been a time when you did not get your point across? Were you unabl

.

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

to convince someone to do something? Have you reached your full potential? Are you able to motivate yourself and others to achieve more and accomplish their goals? What about your relationships? Imagine being able to overcome objections before t

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

Companies that provide selfless information through particip

ey happen, know what your prospect is thinking and feeling, feel more confident in your ability to persuade. Professional success, personal happiness, leadership potential, and income depend on the ability to persuade, influence, and motivate others

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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