Cases - Business

People who talk about doing something, yet take no action end up frustrated. They have a tremendous idea, it germinates, and is fertilized a little bit. In the end; it dies. Why did it die? The "

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

art" of taking action was probably not understood. To build a successful business you must learn to take action. It is really a simple concept; however, it is not easy to accomplish.

Fear is the

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

Examples of combination products may in

biggest enemy. Fear paralyzes so many people. It robs them from the success they should be enjoying. It is much easier to "play it safe" and not take the next step. Taking the next step requires

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

action and the willingness to accept failure. Failing to take action day after day will ensure that the business will not succeed.

I learned the hard way. I thought success was inevitable - if

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

I only took the initial step. Once I beat the insecurities that lurked around the monster, fear, I took action. I fully expected success to follow.

It eluded me.

I became frustrated and stopped

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

Combination pro

taking any more steps forward. I became paralyzed now by a feeling of failure.

Why would I expect that taking the first step would ensure success? Nobody ever taught me that. Did anyone ever re

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

ally teach me that "slow and steady wins the race?" Well, yeah they did, but I wasn't really listening.

I didn't understand what taking action really meant. I didn't understand that it required

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

diligence and patience. I did not embrace incremental progress.

My mental model was centered around taking the first big step forward. Then, I would sit back and watch the rest fall into place.

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

I thought that I had to do everything at the front end of building a business. If I did everything possible right away, I was building a foundation that would support my entire business.

I faile

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

d. I started to blame everyone and everything for the failure to launch my first internet business. I started to discount the wisdom that was imparted to me by my mentors. I would lament to my wi

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

fe - "everything I try to do fails." Even though I had run a profitable consultancy for four years, my success was dwarfed by the failure to start an internet business.

I began to hear some of m

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

Following aspects would a

y mentors talk about taking action - one step at a time. They explained how they would write on an index card one thing that they were going to do to improve their internet business. Then each da

dd to the challenges in developing combination products:

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

y they did what was written on the card.

Doesn't this sound simple?

Actually it is. It has taken me some time to really take this advice to heart, but over time I finally started to believe it.

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

Why?

I started to do it. No matter if I saw any results from what I did; I began to take action everyday.

I actually took this giant leap after applying a concept that I had learned outside of

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

the walls of internet space. I knew that to sustain growth and experience success, I had to "hard-wire" taking action right into every part of my life. It had to be as natural as breathing. It h

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

ad to be as consistent as a beating heart. By taking action day after day, even if it was as simple as writing an article, I was beginning to make it part of my life.

I go to the gym 4 days a we

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

Professional from academic institutions, pharmaceutical industries, health care indust

ek. I have guys that hold me accountable. If I don't feel like "working out" on any given day, I get an email from one of my buddies asking me when I am headed to the gym. I immediately change my

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

direction and respond. Hours later I am bench pressing, building strength in my shoulders, arms and key muscle groups. I know I need muscle strength to help keep my body healthy. Muscles keep yo

.

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

ur joints working well, support your back and slow the aging process, including arthritis.

That is my model. I obviously assigned value to working out and keeping fit. Why shouldn't I do this in

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

Companies that provide selfless information through particip

my internet business?

The daily act of taking action is moving me faster and faster towards success.

Is it time that you hard-wire action into your life?

You will not regret making the change

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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How do I know that this can happen? Simple: It has happened to me! Let me show you the play-by-play-

Having a bad marketing strategy or business image is a lot like a piece of spinach wedged in your teeth, a bad-comb over or leaving your fly open – everyone sees it, it looks bad, but no one will tell you to your face. It’s tough to know when you look good and when you need a little help. Your business image is no different. So how can you tell when you might need marketing and design help? Reading this article is a great place to start.

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Cases - Conquer Fear, Take Action!

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