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Whoever said businesses were difficult to start, certainly had not discovered the service business. A service business, just

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

as the name implies, is a business where YOU provide an in-demand service to others. It can be anything from doing transcript

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

Examples of combination products may in

on work to starting a cleaning service to offering virtual assistant services – any business where you provide a necessary ser

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

ice. The service business is easy to start. You can usually start it with one person (you) and build it up as you go along.

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

If you’re really smart you’ll think BIG and do what many other great entrepreneurs have done and build a mega-service business

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

Combination pro

where you simply manage and delegate.

Here’s how it works: Say you offer transcription services to online marketers – You can

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

start by doing the transcribing yourself while you build trust with your clients and start getting repeat business. Once you

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

ee there’s more work coming in than you can handle or you simply decide it’s time you stopped typing and started marketing, th

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

n you can hire other transcriptionists to work you. And it’s easy! You hire them as subcontractors which means they’re respo

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

sible for their own taxes and all you do is outsource work to them at a lower rate than you make. You are ultimately responsi

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

le for the work, which is why you’ll take a cut of the service fee. You can start by outsourcing to one transcriptionist, th

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

Following aspects would a

n two, three and eventually you can end up with a huge team of trained quality transcriptionists. You can then hire a few edi

dd to the challenges in developing combination products:

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

ors (also as subcontractors) to edit the work and help relieve your work load even further. You then can concentrate on mark

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

ting, training, and keeping the team morale high.

Let’s take another example: You decided to start a ghost writing service.

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

ou start with a few clients you write for and find it fairly easy… but eventually those clients start recommending your fantas

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

ic services to all their colleagues! Well at this point you can politely decline and say you’re booked OR you can do the smar

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

Professional from academic institutions, pharmaceutical industries, health care indust

thing and hire other writers to help you out. You pay them a reduced fee so that you still make a profit. Hey after all it

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

is your name on the line and ultimately you are responsible. By thinking big you can take what was originally a one-woman (o

.

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

man) service and turn it into a huge success. The trick is to thing BIG and realize that a service business doesn’t necessar

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

Companies that provide selfless information through particip

ly mean you’re “trading your time for money”. By putting a few smart systems into place you can have your cake AND eat it too

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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Baseball players use stats to tell the story of their season and their career. Those of us in business could learn a thing or two from baseball players about using stats to size-up our careers and experience and to help us sell. Use these 10 questions to create your own awesome stats.

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Your eBay auction title is still an essential part of the eBay listing process, so don't underestimate its importance and follow the tips outlined in this article to ensure that you get a lot of traffic and potentially a lot of buyers to your eBay auctions.

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