Advice You - Business

This is a great, especially in this day and time, with a new business starting every 12 seconds. With the corporate down-sizing, raided retirement funds, and aging o

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

f America, it is no wonder you don’t want to work for someone else. You start thinking of all the things you won’t have to do anymore: you no longer have to ‘punch a

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

Examples of combination products may in

clock’, answer to someone else, spend countless money to upkeep a wardrobe, or fill you car with gas a couple of times a week. But, what kinds of things do you have

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

o do? Do you have the discipline to work for yourself in a home based business?

Let me tell you a story…this happened to a family member. He bought a service compan

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

. He felt great, owning his own company with his name on the door. He bought a new laptop, a wardrobe of casual clothes so he would look cool in the office, supplied

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

Combination pro

all his employees with walkie-talkie cell phones. His plan was to sit in the office and answer the phone while his ‘crew’ worked in the shop. He had no idea that he

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

might just have to get his hands dirty and help out in the shop occasionally. It wasn’t long before those ‘occasional’ stints out in the shop began to happen daily,

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

herefore his clothes were stained, and his employees abused the phone privileges. His idea of owning a small business was to be the ‘boss’ and let others work ‘fo

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

’ him. His business died in less than two years, and he lost over $120,000.00.

So, what did he do wrong? Mainly, he lacked the self-discipline and motivation needed

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

to see the bottom line in front of him. He thought the kind of money he spent to buy this business would be all he needed to do to be the ‘boss’. It was not that he

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

id not know how to do the business in that service field; anyone can learn that from books. It was that he wanted to work his eight hours and go home, (on the premis

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

Following aspects would a

es), and not think of the business until time to open the shop the next morning. He was not willing to dedicate himself with the hard work and exertion it takes to b

dd to the challenges in developing combination products:

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

at the competition. He let his focus stop at 5:00pm. When he stop focusing, he stopped being productive. He had no one to tell him to keep working; he felt he had pa

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

d big money for that privilege. But, to own a successful home business or any other type of business, you have to be willing work while others are not, while others

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

re sleeping or having a good time.

Being your own boss requires you to develop tremendous self-control if you want to be successful in your own business. You have 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

learn to say ‘no’ to unproductive actions, like watching TV instead of making that phone call, or taking a nap instead of listening in on that conference call. You

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

Professional from academic institutions, pharmaceutical industries, health care indust

should be willing to stay the extra hour at your desk in a home office to get the job done. Be willing to balance your family time with your work time. It can be lon

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

ly when you need to get something done, and your family goes to the movie without you. But, if you are a stay-at-home-mom, or a retiree, when you own your own busine

.

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

s, be it a home based business in direct marketing, or a home based business in a service sector, you are the one that dictates how much money your are going to gene

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

Companies that provide selfless information through particip

ate, by the time, devotion and discipline you have. It is up to you to decide to stay focused and determine your work habits that will build productivity and profits

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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You probably heard the same old BS from your upline that you must plug into the system and order their weekly motivational CDs if you want to be successful. And if you stop wasting your hard earned money on these useless audios, you will fail miserably with the company. Well, here is the REAL dark secret why your so called trusted upline pushes these weekly motivational tapes to you.

Dynamite comes in small packages... or in small ads in the marketing realm. Our natural instincts scream that BIGGER IS BETTER! Is it really true? Sure, the small advertisement doesn't have the luxury to of listing all of the benefits and cementing the deal. It does whet the reader's appetite for more information and clearly directs them to the desired info. Here are 4 easy steps to make small ads work for you

Add Value in Everything You do. That Manager knew all along, that I would most likely be asking myself “What’s in this deal for me? Is he going to over charge me for opening four hours early? Not only did he not over-charge, on the contrary he over-delivered and greatly surpassed my expectations.

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Advice You - So You Want To Own Your Own Business and Be Your Own Boss? Part 1

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