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If you will stay with me a while, I am going to tell three related stories and then make a point...I promise!

Story number one goes back to the days when I was a truck driving instructor. Many new truck drivers are very cautious, and even frightened

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

at first. It is not unusual for a student driver to drive verrrry slowly. However, one young lady was going at incredibly slow speeds in all circumstances, and nothing I could do could get her to speed it up a little. She constantly spoke about ne

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

Examples of combination products may in

ver having made any real money in her life, and this gave me an idea.

One day, I said, "Shirley, how would you like a $4,000 a year raise?"

She said she'd love that, so I went on. "The company is going to pay you 25 cents a mile when you start driv

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

ing full time. Let's say you can safely improve your speed and efficiency by 10 miles per hour. You will easily drive 50 hours a week or even more. That's at least an extra 500 miles a week. Over the course of a year, even if you only did that 65%

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

of the time, and took a two week vacation, you would still make an extra $4,000.00 a year or more."

After that, Shirley speeded up quite a bit and turned into a fine driver.

Story number two happened a few days ago.

Several years ago, I put my dau

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

Combination pro

ghter, a single mother, in one of my downlines, created a couple of web sites for her, and from time to time promoted them as well. One means of promotion involved a Pay-Per-Click search engine. Normally, I would send all visitors to my sites, but a

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

t the start of each week, I would switch the traffic to one of her sites until she got a couple of sales, then I would switch back. Now, for various reasons, which would take too long to describe here, this cost me about $100 a week out of my adverti

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

sing funds. Her two sales would net me about $40 in commissions, so my net loss for doing this was $60 a week.

One day, it came to me that one of her sites was immensely popular at a certain traffic exchange, but she didn't have internet access and

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

I didn't have the time to get the requisite number of clicks needed weekly to generate the two sales. However, I WAS able to buy a sponsoring position for her at $35 a month. This made her two sales at a cost to me of a little over $8 a week. 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

ssions from those two sales was still $40, but now I made $32 a week instead of losing $60. Additionally, I used the $100 I had been spending on her on my own sites, netting two additional sales a week for me. I made about $60 per sale, so that was

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

$120 plus the $32 for an increase in revenue of about $150 a week. If this works only 60% of the time, I make over $4,000 a year more than previously, and still shove some business her way. Since over half the sales to new customers result in repeat

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

Following aspects would a

business, the raise is actually a lot more than that.

Story number three also happened recently.

A few months ago, I was looking back at some web sites I created back in 2000 and 2001, when I first began teaching myself html. They were pretty basi

dd to the challenges in developing combination products:

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

c, but had a lot of good content. I hadn't promoted them in a couple of years, so I loaded them into a search engine submission program I have, and fired them off. A couple of weeks later, they generated a nice little batch of inquiries, several of

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

which resulted in sales. After a few weeks, this tapered off, so I brushed them up and shot them off again. Again, more inquiries, more sales. The increase isn't all that big, but it's averaging about one and a half sales a week. Since I made $60

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

on average per sale, that's about $90 per week. That's a little over $4,000 a year more than before.

I said there was a point to all this, and here it is. Two points, actually.

First, in my own experience, and in all the internet marketing and net

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

work marketing courses and literature I've studied, the importance of testing, reviewing, and refining your advertising and marketing strategies is of paramount importance. Sometimes simply changing an attitude, a technique, a wording, a process, or

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

Professional from academic institutions, pharmaceutical industries, health care indust

something else may be what it takes to generate or rejuvenate a successful process.

Second, complacency is a killer. You must always continue to strive to achieve maximum performance. Sitting back and saying, "There. That's done. Now I can quit."

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

will eventually result in failure more often than not. My wife is a fairly successful, semi-professional online poker player, and every time she thinks she's got it all figured out, she realizes that she has to go back over everything she thought sh

.

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 knew and refine it even more to stay on top of her game. Every time she sits back and figures she's got it down to a system, she faces an opponent or situation that requires her to go back to the drawing board, despite her knowledge, skill, and suc

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

Companies that provide selfless information through particip

cess.

So, take a look at what you're doing. No matter how successful, or unsuccessful it may or may not be, review it, refine it, revise it, retry it...massage it and thump it. Who knows? Maybe it will give you a $4,000 a year pay raise...or more!

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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Technology is taking us into the future at a pace that is faster than we previously imagined possible. Our ability to conjure an image of what the world may look like five to ten years down the track is improving, thanks to new strategic planning theories and tools. However, it is our willingness to consider emerging, new categories of risk that is still a stumbling block for many business planners. Some executives and business owners are “risk adverse”, preferring to deal with a business interruption as and when it occurs. Yet it is through the discipline of Risk Management that we can improve our ability to survive in the cutthroat world of the modern economy. Risk management, when employed as an integral part of business operations, can improve both the quality and reliability of technology and how it is applied in real life.

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When I started off, it seemed like one of those new business opportunities that you read about. Things went slowly at first. I thought that owning a franchise would be a much better new business opportunity.

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