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In this article I'd like to talk about the first three steps I believe are vital in starting up your own import-export business.

The first and most important step is to determine your interests.

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

It goes without saying that the most successful businesses are those where it ceases to be considered work for the owner. We've all heard stories of people who started out very small and grew the

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

Examples of combination products may in

ir business into million dollar enterprises. It wasn't just luck or coincidence. They were involved with something they truly enjoyed doing and worked hard at it.

Choose something you are passion

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

ate about and you would pay to do. What things do you already pay for? What things are you already passionate about?

Now, not every interest can be turned into a business that pays the bills, but

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

it may lead you to another area that can. The key here is to remain open and just think of any interest you have - not matter how outlandish.

I really can't stress the importance of this enough.

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

Combination pro

Go with what you're interested in. How can you expect others to be passionate about your products, if they aren't exciting to you?

If wicker baskets don't excite you, then don't try to sell them

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

. Find what does excite you and sell that.

This is also going to he helpful if things get tough. In many cases when things get tough, people give up, but if you choose something you are passionat

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

e about, then you are less likely to follow the same path.

The most famous example of being passionate is Colonel Sanders. You don't get rejected 999 times unless you love cooking and chicken, wh

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

ich he did. It has to be something you are prepared to take that kind of rejection for and still keep smiling. The funny thing is, when you do have that passion, that edge, there is almost a sense

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

of inevitability about the whole thing. Sooner or later, massive success is going to visit you.

So then, what's the best way to determine your interests? Ask yourself this question: If you had a

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

day off, how would you spend it?

Then make a list of your hobbies, products you love, anything that provides enjoyment for you.

The second step is to take your list of interests and start gene

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

Following aspects would a

rating ideas for niche markets and possible products. Contrary to popular belief, people don't buy products for the sake of having them, they buy them because they are trying to solve a problem. W

dd to the challenges in developing combination products:

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

hen you are thinking of niche markets, you are actually thinking of problems and the types of people who have those problems. Your product, which is also your passion, is going to solve the proble

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

m for them.

In short, you need to become a passionate problem solver.

The third step is to work on some things to really get you motivated.

What do you REALLY want out of your own business? Wha

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

t do you REALLY want out of life? What do you REALLY want for your family?

I'm a big believer in writing down goals and flooding your subconscious with the right stimuli - pictures of mansions, e

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

xotic locations, cars, yachts, any and every material possession you've ever dreamed of having. Pictures help make your goals seem more real and tangible.

Start a goal scrapbook. For each of the

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

Professional from academic institutions, pharmaceutical industries, health care indust

personal goals you are working towards, find a picture and put it in your goal scrapbook. Want a Ferrari? Get several pictures of the exact car you want.

Want a successful import/export business

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

? Make up business cards with your business name and title of 'President' on them.

Want a new house? Find a picture of your perfect house.

Review your book each night and imagine yourself in the

.

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

pictures, experiencing the joy at having achieved those goals. You are seeing your future. You'll be amazed at how powerful a goal scrapbook can be in helping you achieve your goals.

So give it

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

Companies that provide selfless information through particip

a shot. Go after you interests, identify a niche, work on your goals, take action. This is the time to see what you are really capable of as your own Boss doing something you really love and enjoy

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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Having a good contract may be your only defense against a dishonest client, but only if you're willing to use it. Here's a classic and true example of that principle in action.

The role to the QP (Qualified Person) is to perform the regulatory practices that a company is required to uphold by EU directives for the release and manufacture of medicines and drugs to be used in clinical trials.

No matter what the size of your business, there is always too much work to do. If you build a good foundation, you will be able to grow through the addition of new people and products.

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Digg It - Three Steps to Your Own Import Export Business

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