Tags |
|
|
Links |
|
|
Advice You - Booting A New Business - On The Software Development Highway
Background
Those amongst us, who were born at least before 1970, must have witnessed the dotcom boom of the late 1990s, as well as seen and been affected by the bust that followed soon enough. When the boom began, the media was inundated, day in and day out, with news of dream tie-ups between venture capitalists and just-out-of-college, still-wet-behind-the-ears young
Those amongst us, who were born at least before 1970, must have witnessed the dotcom boom of the late 1990s, as well as seen and been affected by the bust that followed soon enough. When the boom began, the media was inundated, day in and day out, with news of dream tie-ups between venture capitalists and just-out-of-college, still-wet-behind-the-ears young
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
twenty-something boys and girls. The entire dream was woven around what the internet could do for folks like you and me. And when the boom busted, boy! How it busted! A quick review of the top ten dotcom businesses that gobbled up millions of VC dollars and took them down the drain really makes interesting, if introspective, reading.
A few years down the line, and the next ge
A few years down the line, and the next ge
; 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
neration of entrepreneurs and businessmen are ready, yet again, to take the software highway. This time around, however, they have the power of hindsight with them. All the dotcom stories are now neatly chronicled in the form of case studies and enshrined in the libraries of business schools and available on the web to browse through and draw lessons from. Internet, the backbo
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ne which dotcom businesses based their strength upon, has quietly gone from strength to strength since the boom/bust. Newer technologies and newer hardware have made the internet more robust, more reliant, and more user-friendly than ever before. Software companies, most notably Microsoft, Yahoo, Google and their ilk, have realigned their manpower and restructured their produc
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ts, rejigged their business model to make internet their center of gravity, and have come up with far better ways to both transact and seek pleasure on the web than ever before. Blogs, RSS, Merchant Accounts, dropshipping, podcasting, adsense, online local advertising, are terms that have found coinage as a result of some creative footwork by technocrats and savvy businessmen
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nd women like you and me. Marketing channels and consumer strategies are creatively tapping into the newfound interest in computers and the web, generated by the convenience that they bring to day-to-day life. Entrepreneurs are veering once again towards Internet in general; and software development in particular, as a possible option around which to build a business and caree
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
r.
Bridging Entrepreneur gung-ho With Software
Yet, despite all the promise of business success and prosperity that Software Business holds out, there are still quite a few who find it beyond their reach. The moment you mention S o f t w a r e, the mind immediately visualizes a group of nerds who are furiously banging out some gobbledygook on their keyboard. Some entr
Bridging Entrepreneur gung-ho With Software
Yet, despite all the promise of business success and prosperity that Software Business holds out, there are still quite a few who find it beyond their reach. The moment you mention S o f t w a r e, the mind immediately visualizes a group of nerds who are furiously banging out some gobbledygook on their keyboard. Some entr
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
epreneurs simply fail to make the connect between their wealth-creating ability and software. Which is a pity, actually.
People who come to me for counseling on new businesses are invariably people with a lot of entrepreneurial vision and grit. They are people with an ingrained perseverance and stamina to withstand the rough and tumble of lean days that a career as businesspe
People who come to me for counseling on new businesses are invariably people with a lot of entrepreneurial vision and grit. They are people with an ingrained perseverance and stamina to withstand the rough and tumble of lean days that a career as businesspe
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
rson invariably involves. They are people who don't mind dirtying their hands and feet in the trenches, so that they understand the nitty-gritty of their business. These are the guys and gals for whom the golden cage of a cushy, nine-to-five job holds no meaning, and they yearn to fly the skies and test the limits of endurance of their wings. The breed of entrepreneurs is a br
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
eed apart. And yet, whenever I would broach the subject of this exciting new opportunity to them, they would baulk at the idea. "But, Software Business, Sanjay? Isn't it supposed to be so damn technical? Can't you suggest something that is more conventional? Something that is within my limits? Something that does not involve a steep learning curve, and where I can invest my ti
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e and money and begin to see results in the fastest possible time? Huh?"
Sigh. Here is one exciting opportunity - Software Business. At the time of writing this article, Microsoft is on the verge of launching its most awaited operating system, the Vista, E-commerce is elevating to the next higher level of operations, more and more customers are getting hooked up to computers
Sigh. Here is one exciting opportunity - Software Business. At the time of writing this article, Microsoft is on the verge of launching its most awaited operating system, the Vista, E-commerce is elevating to the next higher level of operations, more and more customers are getting hooked up to computers
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
and the internet, with even mom-and-pop stores looking for a piece of the cake .... And here are these entrepreneurs, the people who can make things happen - the people who have the ability to change the world. And they say - "Tell me about a more conventional business"!
There are so many things that you can do with a computer. The machine that sits on your desktop is like a
There are so many things that you can do with a computer. The machine that sits on your desktop is like a
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
monster that needs forever more work to do - and it is within the grasp of your ingenuity and creativity to think up things that you can make it do for you. When these "things" are something that positively affect the lives of thousands and millions of ordinary folk - boy, will they flock at your door on all fours! Such a mouth-watering thought! But - this Business of Software
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
development; this programming; this gobbledygook - how does one come to terms with this monster? Heck, I am an entrepreneur, not a programmer!
It was this quest to bridge the gap between a software-illiterate entrepreneur and the exciting, moolah-rich Business of Software, that made me scour the net. And scour I did. Quite a few of the solutions on offer were downright imbec
It was this quest to bridge the gap between a software-illiterate entrepreneur and the exciting, moolah-rich Business of Software, that made me scour the net. And scour I did. Quite a few of the solutions on offer were downright imbec
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
ile and premature, and quite a few others I dismissed as thoroughly impractical.
Insights From Ben Prater's Book
It is a book written in 2001. And it was crafted by someone who is already into the thick of the business of developing and selling software, and is willing to share his insights with the rest of the world. This man is Benjamin Prater. His sales page on the
Insights From Ben Prater's Book
It is a book written in 2001. And it was crafted by someone who is already into the thick of the business of developing and selling software, and is willing to share his insights with the rest of the world. This man is Benjamin Prater. His sales page on the
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
web actually begins with a blunt and hyped-up statement - "How to Create Hot Software - Even if you've never touched a line of code!" Marketing spiel, eh? The price tag said USD 97, and I bought it online.
The content has hype in its pages, which is something that I can forgive Mr. Prater for (he has to sell his book, after all). But once he settles down to the core content,
The content has hype in its pages, which is something that I can forgive Mr. Prater for (he has to sell his book, after all). But once he settles down to the core content,
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
the book begins to unveil, layer by layer, all that it takes to set up a neat business in the domain of software. Right from idea inception, through to developing the software, setting up a website, down to selling it and maintaining / upgrading it: in short, the entire works. And best of all, the entire content is presented in a very lucid style, without introducing any busin
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ess management mumbo-jumbo.
Test Your Entrepreneurial Skills
Which of the entrepreneurs who come to me will I recommend this book? As I mentally shortlist the probables, I think I am looking at the following qualities:
- You must really, _really_ want to build a career in software business, for you really, _really_ see the potential that this domain has in the years
Test Your Entrepreneurial Skills
Which of the entrepreneurs who come to me will I recommend this book? As I mentally shortlist the probables, I think I am looking at the following qualities:
- You must really, _really_ want to build a career in software business, for you really, _really_ see the potential that this domain has in the years
.
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
to come. Remember, the book acts as a guide. You are being shown the way; but it is you who has to do the walking!
- You must have the openness of mind to absorb new techniques of doing business. If you are used to your established methods of dealing with people and handling transactions, to the point that the thought of trying out something new gives you the goose bumps, the
- You must have the openness of mind to absorb new techniques of doing business. If you are used to your established methods of dealing with people and handling transactions, to the point that the thought of trying out something new gives you the goose bumps, the
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
n what to talk about software business, any new venture with its own model might be difficult for you to consider. I know I am putting it bluntly, but it *is* a cruel world out there.
If you think you fit the bill, go ahead. Your decision might really change your bank balance for the better; take care of the mortgage; help your kids through college ... fulfill your dreams ...
If you think you fit the bill, go ahead. Your decision might really change your bank balance for the better; take care of the mortgage; help your kids through college ... fulfill your dreams ...
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.adviceyou.org.ua/article/17266/adviceyou-Booting-A-New-Business--On-The-Software-Development-Highway.html">Booting A New Business - On The Software Development Highway</a>
BB link (for phorums):
[url=http://www.adviceyou.org.ua/article/17266/adviceyou-Booting-A-New-Business--On-The-Software-Development-Highway.html]Booting A New Business - On The Software Development Highway[/url]
Related Articles:
Hot Careers: Managing Your Career Choice When You Have Too Many Choices
Bookmark it:
|