Useful Advices - Business

I tried and I gave up. When we started out high-tech Merger and Acquisition Practice, I thought it a natural fit to also offer finder services for Entrepre

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

neurs seeking Venture Capital Funding. That service is no longer available. Why not you ask? We failed miserably. Our firm has successfully completed seve

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

Examples of combination products may in

ral small high tech M&A deals at great multiples, but finding venture capital turned out to be a very frustrating and unproductive experience.

Unfortunate

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

y many high tech entrepreneurs have eventually landed on our doorstep totally drained from their experience of trying to raise venture funding themselves.

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

Quite frankly, the process has caused several of these businesses to fail. According to venture industry statistics only 2% -3% of firms seeking venture ca

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

Combination pro

ital actually are successful in receiving funding. Only 2 out of 10 of those firms that receive funding provide the target returns for the Venture Firms. S

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

ince their failure rate is so high, they are looking for a 30 to 1 return on their money in their three or four year exit period.

It is generally not a go

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

d idea to alienate my readers, but the biggest problem that entrepreneurs have is that they are inexperienced about this whole process. They generally have

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

unbridled optimism about the value of their company, idea, product, or technology in the marketplace. These entrepreneurs are usually the inventor or the

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

uthor of the computer code and are not sales or business development guys.

They do not understand the sales process. After all, raising Venture Capital is

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

the ultimate sales job. These tech-focused individuals will be strung along by the Venture firms unless they have a track record of starting a company and

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

Following aspects would a

making investors rich. In that case the Venture Firms fight for their place in line to give you money. I would often speak with high-tech entrepreneurs wh

dd to the challenges in developing combination products:

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

just completed "a great meeting" with XYZ Ventures. They would excitedly tell me that XYZ asked them for a report on this, pro-forma's for that, projectio

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

ns for this, a competitive analysis of the major players, etc. They would then schedule another meeting.

Our entrepreneur is thinking they are on the verg

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

of landing the big one. My response is, "How much are they paying you for educating them on your space." The image that comes to mind is when you were a k

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

id and were using a magnifying glass to burn up ants on an ant hill - kind of sadistic torture.

For you tech guys out there, this is not Field of Dreams -

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

Professional from academic institutions, pharmaceutical industries, health care indust

If you build it they will come. It is business and the mantra is - If you sell it they will come. Get over your bias of not valuing the sales process and

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

go tap the best available sales and marketing person you can find to partner with you. Build a customer following that demonstrates a trend rather than a c

.

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

uple of isolated successes. Then go find a large strategic partner to acquire you at fantastic multiples. Work through your non-compete period and then lau

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

Companies that provide selfless information through particip

nch your next great idea. Go to the venture guys from your new-found position of strength and tell them to get in the queue to provide your venture capital

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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Advertising – we are all aware that it is a necessary part of doing business. Globalization not only offers liberalized market but also provides all possible opportunities to the advertisers and consumers. Satellite channels have also witnessed this wave of change. Advertisers have more channels to advertise their product or service than ever before. But hunting for an appropriate cheap media is equally important as to prepare a good advertisement. Globalization allows an effective media to the small marketers through cable advertising. Cable advertising has tried to ease the problem to some extent. Small marketers can now fulfill their dream to reach the defined target consumers. In this article, we have made an effort to cover some key points about cable advertising. How did cable industry enter the Indian subcontinent? What are the basic factors behind this? What are the advantages of using cable advertising? How do you place the cable advertising?

In the 21st century, there is a clear swift from hard systems approach of project management to soft factors, a demand for strategic thinking in project management, new success factors and project uncertainty management. Broader project management theory and more intense research efforts are also a trend in the field.

A group of people arguing and defending their ideas, is not effective brainstorming. How do keep this from happening with your brainstorming session?

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