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I've always had trouble fathoming those that own businesses in low growth industries. I'm not being pious, or looking down on anybody--this is just my own thought processes--but whoever got

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

rich running a gas station, sandwich deli, low-priced hair salon, mini-mart, or any number of other such businesses? I'm not talking about the few that buy up multiples of such types of st

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

Examples of combination products may in

ores as an investment. That I get. But those that become content in an industry where they know it will never make them considerably more financially well off I don't get whatsoeve

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

r. Almost any place I go I'm thinking about the financial prospects of such a business, thinking about overhead, potential gross income, profit margins and I start to wonder if this is a bu

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

siness I would or could ever spend my life doing.

Don't get me wrong, I'm not a person driven by greed, or even primarily by "success"... I put God and family first, but I also don't shy a

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

Combination pro

ay from wanting to be successful in the traditional (American) sense. Someone asked me my definition of success recently and I responded: Life, Health and Happiness. Life and healt

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

h are easily determined, but happiness is pretty darn vague, and I deliberately answered that way. What makes me happy?

On a professional level, my job (usually) makes me happy. I enjoy th

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 struggle for success, which is, in my own mind, a destination that I will probably never fully achieve. But that's the way I like it, because no matter how successful I am, I'm content wi

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

th where I am but also not so content that I don't continue the struggle to be more successful tomorrow than I am today. That's why I couldn't survive in a no- or low-growth industry. I ha

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

ve to see the potential of being greater tomorrow than where I currently am today. And to get there, I must always be growing not just my business but personally as well.

The other day I r

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

ad these three reasons why growth should matter:

Gifting without growth produces ineffectiveness. You can be great--even the best--at something, but if you never try to

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

Following aspects would a

improve yourself beyond that it won't be long before you find yourself surpassed by others. Think of any world record that was achieved. All past world records, with the exception of the c

dd to the challenges in developing combination products:

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

urrent, have been beaten. The same with personal and business growth. As soon as you become complacent where you are someone will come a long who isn't and when they break the current recor

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

ds, or become better than you at what you do, they'll be the one that people turn to in stead of you.

Growth prevents stagnation. Everybody goes through down periods, bu

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

t if you are constantly striving for growth, those periods will come less often and disappear more quickly. Growth has its own momentum, you start growing its easier to keep growing. Only w

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

en you stop do you stagnate. Then it becomes much harder to start growing again.

Continuous improvement guarantees success! If you keep reaching for the goal you will ev

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

Professional from academic institutions, pharmaceutical industries, health care indust

entually reach it. It's inevitable. Practice may not always make perfect, but it gets you a lot closer to it than those that don't practice. You can never go wrong trying to improv

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

e. Never.

And while I may not see the growth potential in a gas station or a deli, those who do because that's what they love to do certainly can see the potential. You just ne

.

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

ed to decide if making a good sandwich is enough or if you want to strive to make the best sandwich... or provide the best customer service, the most cutting edge hair styles, etc. Where ev

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

Companies that provide selfless information through particip

er you are, whatever your niche, look for those opportunities for growth. Find them and attack them with vigor. I have no doubt that once you do, you'll see endless opportunities before you

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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Joint Venture experts have an entirely different approach than a typical business or salesperson. To REALLY soar financially, you're going to want to check this out.

As is often said, ‘wrong hiring is worse than no hiring’. Some pointers on how to go about hiring the right person for the job.

Learning from others experiences and mistakes is always a good idea. And for a sales person what better way to learn than from some of the most successful sales people. Some sales training and sales coaching classes bring in successful people to give a talk to the new batch of sales people. But, if you haven't got a chance to hear these people talk then, not to worry here are the 5 tips from the most successful sales people.

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