Main Subject - Business

Ah, how exciting it is to start your own business and be free of the corporate life! Many women—to the tune of 10.6 million according to the Center for Women’s Busin

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

ess Research—have cut the strings to an employer’s schedule and agenda to set their own direction. By starting their own business they are their own boss and proud o

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

Examples of combination products may in

f it! You may know a woman who owns her own business or you may be one yourself. One in eleven adult women is an entrepreneur!

Every woman who follows her inner voic

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

and takes the plunge of starting a business is bodacious. Bodacious means to be bold, outstanding, and gutsy. From my ten years rising through the ranks at AOL forgi

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

ng my corporate career and now five years as an entrepreneur, I’ve come up with my own definition of bodacious: The courage to be in charge of your life.

It takes co

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

Combination pro

rage to start your own business and it takes courage to keep at it to make it successful. Here are three keys I’ve determined to being a successful, Bodacious Woman i

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

n business.

1. Figuring out what you need to know.

No one starts a business having all the knowledge they need to make their business successful. For example, if yo

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

u were an accountant at an accounting firm, you’ll know how to set up the bookkeeping system for your new tax business, but you probably won’t know much about marketi

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

g your services or finding prospective clients. It’s critical that you seek out the knowledge you don’t have, and quickly. Fortunately, there are many ways to learn i

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

ncluding books, seminars, Internet, and networking groups. A great way to get started is to simply asking questions. Bodacious Women know the answer is out there.

2.

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

Strive for sanity!

Starting and growing your business can also feel chaotic. You not only have the roles of CEO, service provider, marketer, saleswoman, customer ser

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

Following aspects would a

vice representative, and administrative assistant, to name a few, you also have personal life roles such as wife, partner, mother, daughter, sister, neighbor, friend,

dd to the challenges in developing combination products:

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

and more. It’s no wonder women feel stressed! In my own business and life I don’t aim for balance. Instead, my goal is sanity - feeling satisfied at the end of each

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

ay, believing that I spent my time and energy on the people and activities most important to me. To do this, you have to know what you want…from everyday business dec

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

isions to major choices.

3. Feed the motivation meter.

In addition to gaining knowledge and striving for sanity, successful Bodacious Women in business need one mor

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

thing.. One of the biggest killers of motivation is isolation. Since many women in business are “soloprenuers,” it’s mega-important that you create relationships wit

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

Professional from academic institutions, pharmaceutical industries, health care indust

h other entrepreneurs and reach out often. A great way to do this is to be part of a “mastermind” group. My mastermind group consists of four other women. Every two w

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

eeks we gather on the phone for the sole purpose of sharing our mini victories and asking for ideas to overcome our latest challenges. Just knowing these women are ch

.

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

ering me on motivates me to stay positive and energized.

Deciding to start your own business can be exciting and empowering. It’s bodacious! To keep that lovin’ feel

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

Companies that provide selfless information through particip

ing and make your business successful, keep these three keys in mind: knowledge, sanity, and motivation. Here’s to your bodacious success!

Copyright 2006 Mary Fole

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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Nevada is considered a haven for business owners who want to create a new corporation or a limited liability company or LLC. The state of Nevada offers complete protection to the officials, agents and members of the LLC, in case of a lawsuit filed against them. In order to operate a limited liability company in Nevada, an operative agreement is necessary. The operating agreement defines the nature of business, general operation and conduct of the affairs, of the company. This agreement also outlines the voting powers of each member and the buy-sell requirements that govern the stand taken by the company in case of members want to sell their interest.

Thrifts are thriving, consignment is in and the whole second hand business is booming. Never before has the used goods business so lucrative as now. Chains are expanding high and wide. See what has been driving and is driving this trend.

These 5 tips will not only help your Medical Spa or practice survive, but thrive in this time of increased competition.

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Main Subject - 3 Keys to Being a Successful, Bodacious Woman in Business

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