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First of all, I'd like to personally congratulate you on your decision to seek, research and start your own home-based business. You've just made the decision that can, and will change your current life, as you know it.

Today, we're

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

going to talk about a day in the life of a home-based business owner. What can you expect your day to be like? How many hours should you be working each day? What equipment do you need to use everyday? Most importantly, how long sh

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

Examples of combination products may in

ould it take until you are profitable?

The day in the life of a home-based business owner can be as flexible and diverse as you are. If you've been in the 9 - 5 rat race, you will undoubtedly love your new found freedom. It's import

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

ant to remember not to get too selfish for personal time, and allow that to cut in to precious work time. The most critical part of working from home is when you are "on the clock," be productive. Each day, before I start working, I

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

make a list of 10 things I want to accomplish - in order of importance. I may only have two hours to work this day - so I can only finish 4 of the items on my "to do list." At the end of my time, I move the items I could not complete

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

Combination pro

up on the list. Then, prior to starting work the next time, I add more things I wish to complete, so that I, again, have 10 things on my "to do list."

Your scenario may be that you have a good, solid, 8 hours to work your business,

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

in one stretch. In this case, have 10 items on your to do list, and once completed, make a new list of 10. Continue this process until you are ready to stop working for that session. I have always found if I have a huge list of thin

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

gs to get done, I become overwhelmed - and I am not at my peak productivity. Attack your home-based business activities in small chunks - checking off the tasks you complete as you go.

Many entrepreneurs who have never worked at home

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

before have the misconception that they will be working 60+ hours per week. If you subscribe to this belief - I have some good news for you! Once you have everything set up, you should be devoting no more than 15 hours per week to e

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

arn a full-time income. If you are working more than 15 hours per week, either you are operating multiple businesses, or you are doing something wrong! Email me at chris@chrisarcherinc.com, tell me about your home-based business and

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

how many hours you are currently putting in. I'll email you a host of ways you can automate and save valuable time.

Let's move on to the type of equipment you need to operate your home-based business. I'm not talking about things yo

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

Following aspects would a

u use to manufacturer items for re-sale. I'm talking about the business side of your operation. You will need a computer; preferably a laptop for convenience and mobility, internet access, telephone with unlimited long distance, fax

dd to the challenges in developing combination products:

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

program, printer/scanner/copier, a quiet work environment, and a comfortable office chair/desk. If you're just starting out and don't have these items - consider purchasing used equipment. It will save you money, and most used items

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

will last long enough for you to earn enough with your business to replace them in a relatively short period of time. I purchased my first office chair at a garage sale for $5.00. I had seen the same "executive" chair for nearly $300

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

.00 at Office Depot. Here I am seven years later, and the chair still serves me well. If you take the time to look for deals - you'll find them.

When you have selected the business you wish to start, you should allow yourself approx

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

imately one week to get fully set up. From that moment on, you should be focusing 90% of your efforts on income producing activity - and the remaining 10% on record keeping and/or misc. activities. In general, you should see income p

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

Professional from academic institutions, pharmaceutical industries, health care indust

roduction immediately and be profitable within 60 days - in a home-based business. Many owners are profitable much sooner, but allow yourself no more than 60 days.

If you have been in business 60 or more days, and have not reached th

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

e break-even point, it's time to analyze the way you are running your operation, and make adjustments immediately.

Your goal is and should always be to earn money. Remember, owning a home-based business can be challenging, but the ben

.

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

efits far outweigh the risks.

Author, Chris Archer has been operating home-based businesses for nearly 15 years, and now donates her time to mentor others. She can be contacted at chris@chrisarcherinc.com. Her website is http://www.

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

Companies that provide selfless information through particip

chrisarcherinc.com, where entrepreneurs and home-based business owners can subscribe to her newsletter, for weekly advice and innovative ideas that can be incorporated into any business.

2006 © Chris Archer Inc. - 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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Is a Franchise a good option for you? Are you happy in your current job? Evaluation criteria to consider in choosing the right option that fits you.

Imagine, you have created something that is state of the art. The envy of the industry. You spared no expense and focused on every detail. Everyone says It's a can't miss smash success! Everyone applauds your launch, customers wishing they could be the first to use your product, and you are ready to make money by the vault-load. What could go wrong?

If you are a sales manager in charge of training aircraft sales people you need to be sure of a number of items. Aircraft sales should not be a high-pressure business and if you have people coming from the auto industry to sell aircraft you might be surprised if they do not do as well as you might expect.

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