Digg It - Business

After spending 20 years in corporate America, I decided it was time for a change. It was time to step down from the long hours of laboring for someone else’s benefit, to say “no” to the business trips and after-hours functions, and to begin a

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

new career as a freelance writer. Finally, I’d be able to enjoy the fruits of my own labor, set my hours, and pick and choose my clients and assignments. For the first time, I would be in control, I would be my own boss, and I would write th

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

Examples of combination products may in

rule book by which I would play.

Sounds fantastic, doesn’t it? As I’m sure you can guess, becoming a successful freelancer wasn’t as easy as I expected it to be. Instead, it took a lot of patience, persistence and hard work. Whether you 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.

considering becoming a freelance graphic designer, Web master, writer or consultant, here are five points to think about when deciding if freelancing is right for you:

Consider what products or services you’ll offer.

If you enjoy making jew

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

lry, buying and selling real estate or finding priceless collectibles, you may, indeed, have a talent that can translate into a full-time business. If building ant farms or playing online poker is your passion, however, be sure to research th

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

Combination pro

income potential before quitting your day job. Do you have a marketable skill, talent or hobby that you’d like to share with others?

Evaluate your finances.

This step is a critical one, particularly if you are the primary breadwinner in yo

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

ur household. Is it your job that brings in the majority of the income and provides benefits to your family? If so, you can still start your own freelance business, but you will have to plan ahead to ensure your family’s needs are met during

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

he transition from your current job to your new venture. This will not only include managing your current bills, but setting funds aside to invest in your business for equipment, supplies, inventory, staff, marketing, etc. Are you financially

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

prepared to make the necessary sacrifices?

Enlist support.

If you choose to start your own business, you’ll obviously want the support of your family and friends. Take their “you can do it” attitude one step further. Ask for their help answ

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

ring the phone, sending out mailers, or sharing your business with their friends and acquaintances. In addition, seek out the support of professional groups and organizations in your community as well. Most cities have a chamber of commerce t

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

at will allow you to visit once or twice before joining. Other towns have a women’s professional network or marketing group you might join. Do you have a network of support available to you? If so, what will it take to put that network in pla

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

Following aspects would a

ce?

Assess your personality.

While businesses vary far and wide, the most successful business owners often possess similar traits. Many of us are independent, forward thinking, objective and analytical, while others are creative, passionate

dd to the challenges in developing combination products:

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

flexible and communicative. We know our products and services, and we know our customers. Above all, we are comfortable making difficult decisions and taking risks. The question is, are you?

Identify your strengths and weaknesses.

Through

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

ducation, experience, and heredity, we have each been blessed with strengths and saddled with weaknesses. It is crucial to each and every business owner to identify those strengths and weaknesses. I suggest getting out a sheet of paper and di

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

iding it in half. On one side, list your strengths – things like “good with people,” “business savvy,” “ability to make solid decisions.” On the other side, list your weaknesses such as “uncomfortable hiring and firing” or “mediocre bookkeepi

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

g skills.”

Once you’ve completed both of your lists, ask someone who knows you well (spouse, friend, peer, mentor, etc.) to objectively critique your lists and make adjustments. For example, maybe you don’t think your bookkeeping skills are

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

Professional from academic institutions, pharmaceutical industries, health care indust

up to par, but your wife knows your checkbook is always balanced to the penny.

Afterward, carefully consider your strengths and weaknesses. Make your strengths your greatest assets. If you are good with people, for example, you should be you

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

company’s key spokesperson. If you are creative, assist in the design of your Web site and marketing materials. If you are not particularly business savvy or if you just hate working with numbers, however, consider outsourcing some of those

.

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

anagement tasks to an outside firm. Let someone else hire key staff or perform regular bookkeeping. Are you willing to relinquish control enough to maximize your strengths while delegating the other tasks to professionals?

After carefully ev

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

Companies that provide selfless information through particip

luating these five points and assessing your resources, you should be able to make a sound decision about whether or not a freelance business is right for you. Best wishes to you for many years of freelance success!

Copyright 2006 Dana Blozi

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/2848/diggit-Is-Freelancing-Right-For-You.html">Is Freelancing Right For You?</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/2848/diggit-Is-Freelancing-Right-For-You.html]Is Freelancing Right For You?[/url]

Here's the Scenario: A Pain Management Physician's group with one Physician Assistant and two Physical Therapists. The Physician performs interventional pain management procedures in the following location: POS (Place of Service): 11 (Office) POS (Place of Service): 22 (Outpatient Hospital) POS (Place of Service): 24 (Ambulatory Service Center) What You Need: Your Pain Management group/practice/company must have its own NPI number The Physician must have its own NPI number The Physician Assistant and the two Physical Therapists must have its own NPI number

In the constantly changing world of stock market trading, online trading journals can be a valuable resource for the savvy investor. Online trading journals, unlike printed materials, can be easily updated to keep pace with the changes that occur within the market on a daily basis, and they serve as an important tool for evaluating current stock picks. However, there is a broad range of online trading journals available, and some are far superior to others. The best online trading journals will both evaluate the current market climate and provide substantiated historical data, rather than simply discussing market trends.

Logistics management is a science of planning, organizing, and executing activities for delivering the required goods or services in the right location at the right time. Modern technologies, communication links, and control systems are essential to manage materials, services, and financial goals. In today's complex commercialized world and for military operations, logistics management is used for effective and reliable performance.

Tags

Links

Digg It - Is Freelancing Right For You?

Related Articles: