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When there is such an enormous choice of ways to make money at home, it seems strange that so many people fail when they try to start their own home business. Do they all choose the wrong business for them or is there some

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

thing inherently wrong with the idea of earning money working from home? The statistics produced in regard to home businesses say that 90% will come to an end within the first five years. Ninety percent is a frighteningly

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

Examples of combination products may in

high failure rate. If we assume the statistics are correct, should we let them deter us from working from home?

Some people quote a failure rate of 95% or 98% for Internet based businesses but, for now, let's assume the f

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

ilure rate is at the same 90% level for any home business (online or offline). One thing that the figures don't reflect is that five years is a long time for most of the people who start their own home based business. All

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

sorts of people, for all sorts of reasons, decide to have a try at making money working at home. However, the majority of the people who decide to start a business so they can work at home are mothers of young children. T

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

Combination pro

ey want to be able to earn money working at home whilst still meeting the demands of a young family. After five years, their circumstances can be very different.

Five years is a long time in childhood. In that length of

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

ime a child's needs will change dramatically. Just picture the difference between a newborn and a five year old, or a four year old and a nine year old. For a really dramatic example think about how a child will change in

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

five years from an eight year old kiddie to a teenager.

After five years working at home, the mother might feel comfortable in arranging for part-time care for the child outside school hours so that she can go back to a ca

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

eer she enjoyed before the responsibilities of motherhood took over. Alternatively the mother might decide to replace her home business with a more challenging one because she finds she has extra time she can commit to wor

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

ing at home. Maybe more children arrive and the mother simply does not have the time or energy to run a business while caring for several small children.

In either of the first two examples, if the business brought in a p

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

ofit before it ended, it can hardly be deemed a failure but, because the business ended, it will be lumped in with the doom laden figure of 90%. In the third example, it might be fair to say the business failed but again t

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

Following aspects would a

he figures don't tell us that the reason was not because there was anything wrong with the business itself.

Another work at home statistic tells us that 50% of home businesses fail within the first year. Although 50% does

dd to the challenges in developing combination products:

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

not seem as foreboding as figures of 90% and above, for half of all home businesses to end within their first year is still a huge failure rate. The reasons most home businesses fail within the first year are mostly due to

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

mistakes or unrealistic expectations on the part of the business owner.

Many people mistakenly think the freedom and flexibility to be enjoyed in having a home business means they won't have to do any real work to earn mo

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

ey. Other people fail to behave in a businesslike way: they treat their home business more like a hobby they can play around with when they feel like it. These people put a minimal amount of effort into their home busines

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

and then wonder why they don't make a profit. Other people make an unfortunate choice and, only when it is too late, they realise they are not going to be happy running the business they picked.

People from each of these

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

Professional from academic institutions, pharmaceutical industries, health care indust

three groups often get labelled with disparaging names like "quitter" because they drop their home business at a very early stage. Patience and persistence are key to succeeding with a home business but it is also true tha

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

there is nothing to be gained in applying the whip if your horse is deceased. If you have no real hope of getting anywhere, it is far better to take a realistic view, cut your losses and use the experience as a lesson.

P

.

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

rsonally, I have quite a bit of sympathy for the people in the third group who realise they made a bad choice and give up: it takes courage to admit to making a mistake. The people from this group who reassess their situat

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

Companies that provide selfless information through particip

on and pick another home business to work at often make good use of the lesson to be learned from their early failure. They account for many of the people who end up in the magic 5% - 10% who own a successful home business

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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