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Never in history have more home business entrepreneurs launched more new businesses! In America, thousands of businesses open their doors every single day. Unfortunately, over

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

90% of them also close their doors within two years. Businesses are started with high hopes and financial dreams. It is easy to start a work at home business, but much more d

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

Examples of combination products may in

fficult to build it, to make it succeed, to avoid the traps and pitfalls and frustrations and enjoy the fruits of success over the years. In working with thousands of entrepre

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

neurs over the past 10 years, the following mistakes I see often: 1. Lack of Capital. Capital includes time, money and motivation. Some have one or two, but not all th

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

ee, and they fail because they cannot sustain growth in their business. All businesses need commitment of everything you have! It may be a small business, but this doesn't mea

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

Combination pro

part-time or passive.

2. Fear. Either a person has a sense of being overwhelmed by the business start-up or a refusal to master the work involved with being an entrep

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

reneur with a home business. You need specific skills to own and run a successful business at home. Learn them and you can master a home business!

3. No Planning. ...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

d too many random efforts. Some home business owners try some direct mailing, offer free samples, try a little radio, etc. and then state that they've tried everything. Pick o

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

nly one and stay the course. Become identified with your marketing techniques. Choose your logo, name, plan, and marketing techniques and stay the course!

4. Lack of Commi

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

ment. Building a work at home business is risky. Some people perceive the risk as huge...but home business risks are significantly less than other types of businesses. Man

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

ge your risks, limit your potential losses and understand your risks. Learn from your mistakes and go on. Stay committed!

5. Refusal to Target an Audience. No one can

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

Following aspects would a

sell their home business services to everyone. Your Internet marketing efforts that goes to everyone is unlikely to create sales to all. Physicians specialize...attorneys spec

dd to the challenges in developing combination products:

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

alize...So Should You!

6. Confusing Message. Be precise and specific on the exact benefits that your home business provides. And make it easy for people to contact you

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

.

7. Choosing Wrong Audiences. A market that cannot pay or an audience that is too small results in disaster. Poor people desperately need medical or legal services, b

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

t who is going to pay you? The same when attempting to reach people that are dispersed over a large area and not easily identified.

8. Too Little Relationship Building.
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
Advertising works well for products where customers see the results. Intangible services are difficult to advertise and are mostly purchased based on the quality of the relat
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
ionship. The more people know you, your professionalism and quality, the more business you will do. Build large networks of relationships.

9. Having a Product or Service t
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
at Fails to Product as Promised. Don't be incompetent. Use current technology and don't be sloppy in your delivery. Only one mistake can undermine client confidence and tr
.

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
ust. Do your best everyday and everytime!

10. Laziness and Greed. To succeed with a home business, you must serve your customers! Sure, you must make a profit to serve
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
them, but service is the key to success. The statement "I want to be my own boss with a business that supports me." may be true, but you still need to focus on customers first

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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