Useful Advices - Business

Running a home based cleaning business with your spouse can be a good way to combine business and family activities under one roof. But are you and your spouse the right match to work together as well as liv

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

e together? Before you invest time and money into starting up a cleaning business with your spouse there are several key questions you should ask.

1. Will your financial situation allow both of you to quit

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

Examples of combination products may in

your present jobs and go into business together? It may be necessary for one person to continue working on either a part-time or full-time basis until the business is profitable enough to provide the income

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

you need.

2. What is your mission statement? Before taking out any loans or buying supplies and equipment, decide on a mission statement and write a business plan. This will help you get the "big picture"

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

. While writing your business plan, remember to address how the business will affect your marriage. Make sure you separate work and family conflicts by setting boundaries - such as "No business discussions

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

Combination pro

during dinnertime".

3. Have you developed job descriptions? Running a cleaning business involves more than just cleaning. There is also marketing, bookkeeping, ordering supplies, and depending on the size

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

of your business, hiring and supervising employees. Clearly state the responsibilities for each job description, and then divide the jobs fairly to make sure that one person is not doing most of the work.

4

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

. Are you each doing what you love to do and do best? If you and your spouse have the same strengths and weaknesses, then you might have a problem. The best case scenario for working with your spouse is when

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

you both have different strengths and weaknesses. For example, if you love working in the office and taking care of the behind-the-scenes tasks, and your spouse truly loves to clean, loves being out in the fi

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

eld and marketing the business, then you're in a great situation. There's less chance of getting into disagreements and butting-heads when you can each take control of your portion of the business.

5. How wi

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

ll you solve disputes? Between business owners there will always be a "difference of opinion" on the best way to get things done. Before you and your spouse make the financial commitment in a business, make

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

Following aspects would a

sure you have a system in place for discussing and resolving business conflicts.

There will be business issues that come up daily - everything from scheduling to what supplies to buy to where to get your bu

dd to the challenges in developing combination products:

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

siness cards printed. As a couple, you must be able to work together and make compromises when necessary. Having a management meeting once a week is a good way to review how the business is doing, discuss i

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

ssues, and make plans for improvement.

6. Do you have a system in place to guide you through tough financial and legal decisions? A business can become paralyzed if you run into legal or financial difficult

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

ies and you have no experts to guide you. Before starting your cleaning business, create a support team that can help you if (and when) problems arise.

7. Have you set time aside for your private lives? St

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

arting a business is a time-consuming endeavor. If you're not careful, the business can take over your lives. You and your spouse need time to reconnect as a couple and not as just business partners. This

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

Professional from academic institutions, pharmaceutical industries, health care indust

may be as simple as a quiet lunch or a walk where there is no "business talk".

8. If you have children, what child care do you have in place? As small business owners you will have business responsibilities

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

pulling at you from all directions. Make sure that you have child care in place so the children are taken care of and you can devote the time you need to the business.

Before starting a home cleaning busin

.

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

ess with your spouse, it's important that you sit down and discuss these issues. If you have a good relationship with your spouse, put a good business plan in place, and know where your business is going, yo

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

Companies that provide selfless information through particip

u can start a successful cleaning business. Putting in time before-hand to plan properly will help to ensure that your cleaning business is on the right track to success!

Copyright 2006 The Janitorial Store

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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