Advice Pool - Home Based Business

Little Susy is here for her lesson. John is on the phone about a great young thoroughbred for sale. One of the school horses needs st

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

itches. Oh, and on the other line is Mary calling to find out why none of your student’s entry forms have come in for the show this w

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

Examples of combination products may in

eekend.

Equestrian businesses have all of the same issues as other small businesses with many additional variables. Barn owners 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.

managers are forever running. You have so many hats to wear: trainer, teacher, on-call vet., sales expert, customer service manager a

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

d so much more. First and foremost though, you are running a small business.

The most successful people in the horse industry are th

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

Combination pro

ere because of their true love for the animals and the sport. However, like any other small business, to stay successful and frankly,

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

to stay in business, attention must be paid to the details.

The day to day operations of your barn’s office: bookkeeping, marketing

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

and communications with customers, colleagues, vendors, etc. are vital to your continued survival.

Many larger facilities employ an

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

office manager or administrative assistant. For the newer or smaller ventures, this is often impossible due to the huge investment o

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

f hiring on another employee. For every actual employee, you must deal with taxes, insurance, training time, and all the other human

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

esource issues.

A virtual office assistant (VOA) can be the solution to these paperwork nightmares for the equestrian entrepreneur.

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

Following aspects would a

You can hire a VOA to provide support in virtually any administrative area. There is a virtual assistant out there that can help you

dd to the challenges in developing combination products:

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

complete any task you can imagine.

You can hire VOA’s to complete single projects. They can do a one-time newsletter, marketing broc

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

hure, create a database of your clients, horses, vet records, etc. You can also hire virtual office assistants on a long term “retain

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

r” basis to handle a specific area of your business on an on-going basis.

Deciding to solve your administrative dilemmas in this man

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

ner is a very cost effective way to make your business more efficient. You do not have to worry about keeping track of any human reso

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

Professional from academic institutions, pharmaceutical industries, health care indust

urce information, spending money on additional office equipment, or even dealing with the hiring process. Virtual assistants work as

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

ndependent contractors or vendors. You define the relationship with them as you see fit and can choose to continue or terminate your

.

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

partnership at anytime.

The horse industry is an ever-growing, ever-changing industry which can sometimes leave your head spinning.

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

Companies that provide selfless information through particip

Hiring a virtual assistant can give you more time to focus on those things that made you enter the business in first place…the horses

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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