Digg It - Business

Hello again

Today we want to talk about how you find products to sell. There are a number of ways. Some will cost you a bundle, some will cost you a little and some will cost you nothing (except your time).

Finding products

We

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

discussed products in Article Two, but here the emphasis is different. Then I wanted you to think about your product as the second most important element in your business model. Here I want to talk in just a little more detail about how and where

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

Examples of combination products may in

you find products.

As we said, there are a number of ways to find products. You can:

Create them yourself
Pay somebody to create them for you
Buy a licence to sell somebody else’s product
Obtain them from free sou

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

rces

Run your business with no products at all – we shall defer this discussion until Article Twenty-Four – Affiliate Programmes

You can create products yourself if you have the skills and experience. If you are a writer, for ex

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

mple, you can write books, either printed or ebooks. If you are a programmer, you can create software. If you are experienced as a consultant, personal coach, trainer or public speaker, you can turn these talents to creating products.

Again, your

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

Combination pro

big advantage with products you have created is that you own them, full stop. You can do anything you want with them. Potential joint venture partners are usually only interested in products you wholly own.

You can pay somebody to create product

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

s for you. As we said, this is one best left until you have a little time and experience as a direct marketer. Here you will have to spend more than just a bit of money before you have sold anything. You will also need enough knowledge about this

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

business to be reasonably confident your market will want to buy.

If you have more money than time, or if you feel you simply don’t have the skills to create your own products, you can buy licences to other people’s products.

The downside of thi

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

is that it will cost you some money up front for licences to decent products. The advantage is that if you are dealing with products created by respected, well-known people, you can offer them to your list with confidence.

There are people in th

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

is business who make very, very good livings having never created any products of their own by selling products created by others.

There are also people out there making very, very good livings creating products to license others to sell. They wo

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

rk with very small lists of successful direct marketers. They are respected experts within narrow niches such as software development or running seminars, as examples.

If you discover you are very good at product creation, you may want to think a

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

Following aspects would a

bout this as a business model – another income stream (we shall talk about multiple income streams in Article Thirty-Eight).

You can also create information products using sources freely available. Written material that is out of copyright or has

dd to the challenges in developing combination products:

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

never been in copyright can be used at will. This information is known as ‘public domain’.

There are several things you need to think about when using public domain information:

Laws regulating use of material in and out of copyright vary from o

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

ne country to another. Copyright protection will be determined by the country in which the material was published. If in doubt, you need to check with Copyright Office for that country.

You may pick up a pirated copy of a work that carries no cop

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

yright notice, but is, in fact, still in copyright. Again, you need to check with the Copyright Office.

Some materials such as government publications are not copyright and are free to use as you wish. Also, check out 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.org">www.gutenberg.org There are over 19,000 downloadable publications on this site. They are all public domain and you may reproduce them at will.

If you plan to use public domain information, always give appropriate credit to the origina

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

Professional from academic institutions, pharmaceutical industries, health care indust

authors, whether for out of copyright material or that which has never has been in copyright. Presenting others' work as your own is thoroughly dishonest. None of the big players in this business ever do. If you want to be as successful as they a

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

re, and I assume you do :-), indicate your sources.

Finally, include your own copyright on everything you write, both hard copy and your web pages. You do this by placing ‘Copyright © Your Name 2006, All rights reserved,’ either at the top or bot

.

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

tom of the document.

When one person has viewed your text, you are ‘published’ and by including your copyright information, you then hold what is known as a ‘common-law copyright.’ This gives you legal protection and the right to be recognised as

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

Companies that provide selfless information through particip

the author of the material.

That’s all for this time. See you soon.

Next time we shall talk about autoresponders and opt-in mailing lists.

Thanks for listening :-)

Copyright © 2006 Mary Rice-Johnston & Golden Goose Direct. All rights reserved

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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