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Subjects - Ladies, Is Your Never Ending To-Do-List Costing Your Small Business Money?
Life as an entrepreneur can be chaotic at times. You have meetings, deadlines, pay roll, damage control, and maintaining current customers, while trying to search for new ones. Dare I even begin to list th
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
e house hold responsibilities? If you are anything like me, I can waste a couple minutes a day trying to find my favorite pen!
Let’s face it, many of us have various responsibilities and we have to be hon
Let’s face it, many of us have various responsibilities and we have to be hon
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
st with ourselves in regards to our ability to perform each necessary task. The cruel reality is your current productivity may only be an illusion. Think about ways to delegate some of the items on your to
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
-do-list.
The to-do-list continues to grow, but how much is it costing you? Think of the desired salary you would like to make from your business. Please be realistic. Take that salary and divide it by 1
The to-do-list continues to grow, but how much is it costing you? Think of the desired salary you would like to make from your business. Please be realistic. Take that salary and divide it by 1
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
(months). Then take that number and divided it by 4 (weeks) and divide that number by 5 (or days of the week you work in your business). Lastly, take your answer and divide that by the daily number of hour
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
you work in your business. Now you have your desired hourly rate.
For example, you would like to make $100,000 a year. That equates to $8,333 per month, $2,083.33 a week, $416.66 day (if a 5 day work wee
For example, you would like to make $100,000 a year. That equates to $8,333 per month, $2,083.33 a week, $416.66 day (if a 5 day work wee
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
k), and $52.08 an hour (if 8 hour work day). Of course these are rough numbers, but you get the idea. Based on this example, you can potentially lose $52.08 an hour for each hour you spend on a task that co
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
ld have been delegated or simplified.
Here are some solutions I found that have worked me.
Grocery shopping on-line-- If you have never done it, don’t be afraid. I love it. If you use a commuter train to
Here are some solutions I found that have worked me.
Grocery shopping on-line-- If you have never done it, don’t be afraid. I love it. If you use a commuter train to
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
go to work, you can order your groceries while in route to work. You can order them on your lunch break, waiting in the doctor’s office, your abilities are limitless…unless you don’t have a laptop. I star
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
ted this because I was spending too much time in the grocery store and by the time I got to the register I had know idea how I spent so much money. Many times I didn’t even have a complete meal in my cart!
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
The truth of the matter is that I am a horrible grocery shopper, but that’s my own issue. The on-line grocery store has a running total to let you know how much you are spending. Not to mention you don’t
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ave to worry about taking the bags to your car. They deliver to your door! If you are a home based business or a fellow single lady, you will definitely appreciate this service.
Couple of draw backs I hav
Couple of draw backs I hav
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
e noticed. Sometimes they may not have one or two items and you may find yourself going to the grocery store anyway. Or the unthinkable, they may not offer this service in your area. Google “groceries on-
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ine” and see what you come up with for your local area.
Growing your business with local colleges or universities-- If you need to decrease the items on that to-do-list, consider recruiting at the local c
Growing your business with local colleges or universities-- If you need to decrease the items on that to-do-list, consider recruiting at the local c
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
lleges or universities. Many times you can find students that can run errands for you. If your business is discipline specific, consider contacting a professor in that discipline. Ask them if they know of
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
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
any dynamic students that can use some extra money to work in their field of study. In some cases you can offer a free internship with your small business.
If your business is not discipline specific, you
If your business is not discipline specific, you
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
can put flyers up in the various student
"hang out” locations. Clear it with the school first. The great thing about this option is that it is typically very affordable and college students have flexible
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
schedules to meet your demanding to-do-list.
What if you are limited on funds? You can always consider bartering your services with other small business, friends, or family. Let’s face it, many countries
What if you are limited on funds? You can always consider bartering your services with other small business, friends, or family. Let’s face it, many countries
.
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
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
where built on bartering services. Everyone was self employed and if they needed something they would exchange their expertise for the desired service or product. Now we have this concept that you have t
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
buy everything and that is simply not the case. Maybe you can provide an hour of professional advice or a free product in exchange for the ability to cross off one more item on that to-do-list.
Good Luck
Good Luck
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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