Answers - Home Based Business

When thinking about owning a business, automatically we see the dollar signs. Usually it takes a lot of money up front to start a b

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

usiness. With the building lease, supplies, insurance etc, it can really add up. Not everyone has that kind of money to take a risk

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

Examples of combination products may in

and start their own business.

If you have a tight budget, don’t think this is the end of your dream of working at home. There are

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

several business opportunities on the internet that require little money to start. You don’t even have to pay for advertising if y

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

u don’t want to. There are plenty of ways to advertise for free.

Think about it this way. What kind of business could you start wi

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

Combination pro

th one hundred dollars? I don’t think there is any brick and mortar business that could get up and running with just one hundred do

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

llars. It’s different on the internet though. You don’t need a building or office so there is no costs for leasing and insurance. A

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 that is really required is a good computer and a fast internet connection.

When I say fast internet connection, I mean cable or

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

something other than dial up. You’ll be sitting there all day waiting for the pages to load and in this business you want to be qu

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

ick and efficient. If you work diligently and quick you can get away with working a couple hours a day on your business.

Think of

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

the money being saved since your business is at home. No traveling, no meals to buy and no office to upkeep, which is the biggest e

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

Following aspects would a

xpense. With an online business it is possible to run it with little money. The normal costs of your home, internet connection, and

dd to the challenges in developing combination products:

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

if your business is a program of some sort there may be a monthly fee. If you choose to pay for some advertising that can be cheap

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

also.

If you have absolutely no money for advertising, don’t worry, there are several things you can do. Writing articles and subm

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

itting them is free. Traffic exchanges, link exchanges and link directories are all free. Use your own printer to make fliers or bu

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

siness cards with minimal cost. Blogging is hugely popular now. You can get away with just having a blog and selling products to ma

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

Professional from academic institutions, pharmaceutical industries, health care indust

e some extra cash.

Videos are becoming popular now too. Make a video about your business or product and submit it to sites on the

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

internet that accept this kind of advertising. Just do a search and there are thousands upon thousands of results.

So if you decid

.

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

e you want to try your hand at building a successful business, try the internet for a cost effective alternative to a brick and mor

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

Companies that provide selfless information through particip

tar business. Seeing a profit will come a lot sooner with an internet business, since the cost to keep the business going is so low

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 often have you heard this one (or said it?): “I don’t like sales, and besides… I’m no good at it.” Most of us have said it, no matter what our industry or profession, steering clear if possible of anything that smacks of sales. We prefer, instead the sweet smell of nearly anything else-- marketing, operations, management, engineering, accounting… anything else! “Just don’t ask me to go out and SELL something. No sir, no way, no thank you, ma’am. That’s just not me.”

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