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If you own investment property, you're immediately classified as an entrepreneur and - as it's a small business opportunity unto its own, you must have

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

a marketing plan in place in order to make the most of it. Unfortunately, this is one of the top reasons why statistically, 92% of all first time inve

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

Examples of combination products may in

stors fail in 3 months, and less than ten percent of those who do will survive the first year of their investment portfolio.

Here are a few should and

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

should not’s that you should follow:

First, your marketing plan should begin with an analysis your current situation and investment environment.

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

This means that you need to look at what you are doing with your investment property or properties. For example, evaluate where your leads come from,

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

Combination pro

how many leads contact you each month, and how many prospects you get each month that are worth following up on.

Secondly, it’s all about the metrics.

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

Determine how many qualified leads you get in proportion to the total number of leads that come in currently. Evaluate how many deals you close as a

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

result of the qualified leads vs the tire kickers, and how much money you generally average from each closed deal.

Finally determine how much it costs

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

you in total to get each close deal -- that is, determine how much you spend advertising, phone calls, overhead expenses, and other costs before you s

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

ee the actual money.

When you're looking at your investment property business this way, you'll be able to see how your small business opportunity is f

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

aring. If you're getting lots of leads but are getting very few closed deals, you know that you may want to make some changes.

One last point I’d like

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

Following aspects would a

to make is that you should be tracking each one of your lead sources. For instance, are you generating the most qualified leads through your ads in

dd to the challenges in developing combination products:

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

the newspaper? Off bandit signs? Through your website? From the call to action magnets on your car? Business cards? You get the idea.

Once you do

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

know where the top three to five sources of leads in your small business stands, then develop a solid marketing plan by setting some goals and allocat

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

ing a portion of business funds each month proportionate to these lead generation machines.

Write down your goals for total net income, your goals for

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

the total number of deals you want to sign up, and your goals for the number of leads and interested sellers you want to generate. Determine how much

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

Professional from academic institutions, pharmaceutical industries, health care indust

net income you need to or want to make from each closed deal.

Lastly, based on how your investment property business is doing right now, determine how

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

many prospects or leads you have to generate in order to reach your goal. For example, if you currently get one closed deal from every 10 leads that 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

ontact you, and you want to have ten closed deals at the end of the year, you know you need to get 100 leads to contact you.

Getting your marketing pl

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

Companies that provide selfless information through particip

an down on paper will help you see exactly what steps you need to take in order to take your business opportunity from small-time to successful.

Cheer

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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