Useful Advices - Business

What is continuity?

Well, I look it up in the dictionary. Did you know that looking words up in the dictionary is UNCOMMON. A great man named Michael York

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

taught me that. Not many people do that – you should try it frequently.

Here is the definition of continuity…

An uninterrupted succession or flow; a coh

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

Examples of combination products may in

rent whole.

So you are probably thinking what I am talking about? What does continuity have to do with my business? My answer to you…

…everything – that

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

is if you want to make a lot of money.

Continuity in your business means creating ways for uninterrupted succession of you collecting money from your cust

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

mers for something that is easy for you to deliver.

This concept is used in the information publishing business and mail order business all the time. Some

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

Combination pro

examples are magazine subscriptions, book-of-the-month, tape-of-the-month, Columbia House, BMG, Netflix and so on.

Recently I have seen THREE very good ex

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

amples of this done by regular businesses.

Big League Haircuts For Men: I don’t know if I mentioned this place before but it is a great example of picking

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

a very specific niche and being just for them. This is a haircut place designed around men. They don’t care about alienating women. They charge more for a

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

haircut but make it worth it for men to come in. Flat screen TVs at every hair cut station and then men get to hold the remote is just one of the ways they

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

accomplish this.

This place is truly sensational. BUT they are smart enough to implement a continuity product. They offer a yearly and monthly subscriptio

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

for haircuts. You can come in all the any time during that time and get unlimited haircuts. The subscription automatically renews itself unless you cancel

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

Following aspects would a

. Think about how that can revolutionize the business and the cash flow.

Info USA: This company deals in mailing lists. These are normally sold on a per n

dd to the challenges in developing combination products:

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

me basis – a few cents per name. Info USA has an annual continuity product that gets you something like 15,000 names for a set annual price and then additi

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

onal names for a low low cost. The subscription automatically renews itself every year unless you cancel.

Amazon.com: Amazon who sells books one at a time

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

just recently offered me a test membership in a new program they just launched – Amazon Prime. As a prime member I get free two-day shipping on all books I

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

order. Plus, overnight shipping on any order for just $3.99. They offered me a 3 month trial membership which then bills $79 annually. This auto renews ann

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

Professional from academic institutions, pharmaceutical industries, health care indust

ually until you cancel.

Think about how you can cannibalize this concept and offer a continuity product to your customers. Only a fraction of your custome

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

s will bite but you will create recurring revenue that you can count on. Not to mention the significant acceleration of cash flow. If the continuity produc

.

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

t is monthly you can develop a fantastic monthly base the can add significant revenue to your bottom-line.

The take-away here for you is that continuity p

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

Companies that provide selfless information through particip

oducts work and they can mean big profits in your business. It may take some non-traditional thinking and a little effort but the results are well worth it

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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Where do you see your business going? This article looks at how a furniture business has developed thanks to the philosophy of its founder, and how you could help your own business make more money by changing the way you think.

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Useful Advices - Small Business Profits: Exploding Profits With Continuity Products

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