Cases - Business

I am going to write something that may not be popular, but if it offends you in anyway, it probably means that I’m writing this for you. I’m writing this to help you…not to criticize

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

or belittle you. I want every entrepreneur to continue to grow throughout his online career and sometimes when we don’t accept change…we stop growing. I don’t want that to happen to y

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

Examples of combination products may in

u.

Lately, I’ve seen a lot of online service-based business complain that cheaper alternatives are driving them out of business. I’ve seen virtual assistants angry that anyone would

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

work for US $10 per hour. I’m surprised by that anger because $10 is above the minimum wage in every single state in the U.S. and province in Canada (2005 statistics). Yes, I know run

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

ing a VA business carries expenses, but many people working online just want enough to be able to stay home, instead of trudging to a crappy job. Good for them for being resourceful.

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

Combination pro

I’ve seen article writers and article distribution services annoyed that new software and automated process are cutting into their bottom line and causing them to lose clients. It se

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

ms the hay days of getting paid $100 plus per article are gone…or are they?

If you’re letting your business die because lower cost services are coming in – it’s time for a wake up ca

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

ll. Complaining isn’t going to get you anywhere, except possibly bankruptcy. As more and more people come to work online, there’s going to be a lot of people working for what you thin

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

is chump change. As programmers get more creative with technology, more processes will become automated.

A smart business person will make competition irrelevant…or as irrelevant as

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

is humanly possible. If you are trying to get your typical “Internet marketer on a budget” to hire you for $25 per hour to answer his emails…you probably will lose out to the moms wh

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

just want to earn an hourly wage to stay home with their kids. But if you set yourself apart and target a market that doesn’t want to nickel and dime and perceives more expensive ser

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

Following aspects would a

vices as more professional --- your client list will grow. If you have satisfied clients paying $25 per hour, they can always refer more clients who will pay $25 per hour.

If you’re

dd to the challenges in developing combination products:

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

writer and you think it’s fair to charge $100 to write an article (and honestly…well written articles ARE that valuable), realize how much money you could be making by writing articl

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

es for your own use. Plus, you don’t have the headache of dealing with clients.

This is the realization I had to come to in 2003. I was a copywriter for hire. I didn’t charge top dol

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

ar (and a few copywriters complained to me about that)…but I wasn’t at the bottom of the heap, as far as rates went. I thought if somebody would pay me $75 to optimize one website pag

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

e for them…why was I wasting my time letting them earn the residual income from it? If someone would pay me $150 to write a short page of sales copy…just how much money were they earn

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

Professional from academic institutions, pharmaceutical industries, health care indust

ng from it to make it worth their while?

After thinking about that, I decided to quit taking clients and focus my efforts on using my own writing skills to earn me residual and passi

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

ve income. Now, I make about 5 times much as I did back then and I work a lot less. Best of all, I have no clients do deal with. You see, when hire yourself out for pay…you have to ke

.

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

p working to earn that pay and it can be a real drain on your time and energy.

If you’ve been complaining about external changes affecting your business, really think about how you c

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

Companies that provide selfless information through particip

an change your own approach to make it work for you. Every business has to evolve to keep up with changing times. After all, McDonald’s did once say they’d never offer a veggie burger

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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