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1. Trust Your Team – Delegation. Empowerment. Call it what you wish. You can’t do everything by yo

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

urself. Hire the best people, train them well, then get out of their way.

2. Communicate – You ma

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

Examples of combination products may in

y know where your small business is heading, but if your employees don’t, they can’t help you get there.

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

ake time to share with them on a daily basis.

3. Smash The Box – It’s a clich?…“think outside the

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

box.” What if there was no box? What could you do differently? Be innovative…and look for new ways to do

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

Combination pro

everything you do better.

4. Ask Questions – A good business philosophy to get to the root of an

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

issue is to ask “Why?” seven times. Ask a lot of questions…to your customers, suppliers, employees and yo

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

urself.

5. Make It Easy – Consider all the ways customers interact with your small business. Wher

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

are the barriers, and how can you remove them to enhance the customer experience?

6. Plan For Succes

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

s – A business plan isn’t something you do before opening, then stick in a drawer and forget. Take ti

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

e to update yours each year…focusing on new opportunities.

7. Stand On A Chair – In “Dead Poets S

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

Following aspects would a

ociety,” students stand on their desks to get a different perspective. Do this at your small business loc

dd to the challenges in developing combination products:

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

ation, and you’ll see lots of things…for the first time.

8. Follow The System – Stick with your p

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

oven business practices...and show your employees how to do the same. You’ll go farther faster.

9. Ed

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

ucate – Make time on a regular basis to train your team. They’ll appreciate your investment in their

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

ersonal and professional growth, and they’ll be more productive for you.

10. Take Five – Owning y

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

Professional from academic institutions, pharmaceutical industries, health care indust

our own small business means taking on a lot of challenges and pressures. Make sure you step away occasio

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

nally and refresh. You’ll be more energized when you return.

11. Get Close – Step outside the wal

.

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

s of your office/location, and “ground pound”…getting to know your customers and staying involved in your

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

Companies that provide selfless information through particip

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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Successful men-women seem to have basic personality and character traits that lead them to great wealth and accomplishments. Some of the men-women use one combination of skills to achieve their goals while others use a different combination. Despite these differences all of the men-women have basic skills that comprise the canvass on which the picture is painted. To know what these skills are is to know your own chance of becoming successful.

Successful managers have learned to put off making big decisions as long as possible. They can develop options; in the meantime time may solve the problem. Sucb controlled procrastination is a vital tool of management.

Business coach. As a business coach I show business owners how to become a better business person. In this article I explain several concepts that will help you successfully grow your business through emotions.

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