Answers - Home Based Business

There are probably as many ideas on how to make money selling crafts as there are different crafts! Craft fairs and shows - locally, regionally or nationally - other local events, deals with local stores and now m

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

ore and more the internet - either through your own site, various co-operative ventures or auction sites like ebay.

But just because there are lots of options and outlets, doesn't mean it's easy to do. Nor does i

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

Examples of combination products may in

t mean it's easy to find accurate information - especially for those who are perhaps hobbyists who want to turn their passion into a full-time occupation - whether that's in a store environment or a business where

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

they can make money from home.

There are also the many questions which arise from running any business - legal entity, banking, tax, administration, registration... the list can seem daunting.

Internet search en

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

gines can offer a huge amount of helpful information - and may seem a great place to start - but the trouble is there are just so many sites. I wouldn't want to put anybody off of course, there are many excellent

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

Combination pro

esources online. The problem isn't the lack of information, it's knowing how to sift the diamonds from the dirt. How do you tell which is good information and which is just some slick marketing hype trying to sell

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

you something? There are dozens, maybe hundreds of sites trying to sell you directory listings or online stores or a guaranteed list of contacts for trading abroad (for a fee of course) or any number of "useful"

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

hings.

For my money the best first choice is always a book or two. Now I'm quite prepared to admit that I might be considered biased as I run a website reviewing craft books, but a good book about making money fr

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

om your craft is seldom trying to sell you something else. A few dollars invested in a good book and you get access to a wealth of information. It's usually from someone who has intimate knowledge of the craft are

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

a - but with no axe to grind - and isn't it best to learn from someone who has already done it or helped others to create their own successful enterprises? You aren't reading it online so there's no temptation to

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

buy anything on the spur of the moment. The information is there whenever you want to refer to it - whether you're taking your first tentative steps and thinking of starting a craft business or reflecting on an es

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

Following aspects would a

tablished business and planning ahead.

These days, with the availability of some excellent e-books you can buy online and have access to the information in minutes.

So what might you expect to get from such a bo

dd to the challenges in developing combination products:

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

k? As an example I'll use Chuck Smiths' excellent "How to Start Your Own Craft Business". Chuck doesn't waste any time and gets straight down to the nitty-gritty with "Where Do I Start" and then takes you through

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

reasons for starting a craft business, types of craft business, pricing and supplies, marketing, planning and keeping records. Along the way he delves in detail into practically every facet of running a craft busi

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

ess. No-one can guarantee you will make money selling crafts but this is invaluable information and could help prevent you from making expensive errors.

Of course Chuck's is just one of many and although I'm happ

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

y to recommend it to you I don't suggest it has all the answers for every situation. The key to success, as usual, is the correct balance and several viewpoints are always a better idea than one. Your local lendin

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

Professional from academic institutions, pharmaceutical industries, health care indust

library may well have books that can help, there are your local bookstores and of course the internet. Buying e-books online with instant delivery is without doubt the quickest way to get the information you need

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

but by no means the only one.

I'm fortunate that crafts is how I earn my living. To some extent I've already been down the path you may be thinking of taking. That doesn't mean I know it all and I'm always seeki

.

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

g out new information that can help me build my business. I have at least a dozen books that I refer to regularly - if not on a daily then at least a weekly basis - and dozens more in my collection. I don't imagin

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

Companies that provide selfless information through particip

e I will ever stop adding to them.

So when you're starting out down the road to make money selling crafts don't forget some of the less fashionable ways of learning, try a book or two. Good luck in your endeavors

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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