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Top Articles - The Four Stages of Real Estate Investing
As we go through life each of pass through four stages of learning over and over again. You will pass through
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
these stages as you learn to become a savvy real estate investor.
This article is to help you get started alon
This article is to help you get started alon
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
your investing journey. So, a look at the four stages of learning is critical.
Stage One: Unconscious Incomp
Stage One: Unconscious Incomp
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tence. In this beginning stage we don’t know what we don’t know.
That’s probably where you are in your real e
That’s probably where you are in your real e
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
tate investing learning curve. You don’t know what it is that you don’t know. You may even be blissfully igno
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
rant. Your confidence outweighs your knowledge and skill.
To move from this level to the next, you must reali
To move from this level to the next, you must reali
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
e that you are currently incompetent. That’s OK. It’s only temporary, right? After all, you are committed to
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
learning new skills.
Stage Two: Conscious Incompetence. This is the stage in which we now know what we don’t
Stage Two: Conscious Incompetence. This is the stage in which we now know what we don’t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
now.
We know that we don’t know how to find or go after foreclosures. We don’t know how to find and do a whol
We know that we don’t know how to find or go after foreclosures. We don’t know how to find and do a whol
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
esale deal. We don’t know how to find and rehab a fixer-upper. We don’t know how to select a good rental prop
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rty.
We may be amazed at how much we don’t know. Our confidence may fall as we realize that our ability is li
We may be amazed at how much we don’t know. Our confidence may fall as we realize that our ability is li
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ited. We feel uncomfortable because there is so much too learn.
We need knowledge, skills, and practice in or
We need knowledge, skills, and practice in or
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
er to move to stage three.
Stage Three: Conscious Competence. At this stage we can do it with limited success
Stage Three: Conscious Competence. At this stage we can do it with limited success
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
.
We have acquired the skill. We have become consciously competent. We know what we need to do, we can think
We have acquired the skill. We have become consciously competent. We know what we need to do, we can think
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
about it, and we can perform.
At this stage in your investing career you are doing deals, perhaps on a regular
At this stage in your investing career you are doing deals, perhaps on a regular
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
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
basis. You have acquired knowledge and skills. You can do deals without assistance. You are achieving succes
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
. You know what you are doing. You need more practice.
But, the real goal is to move to stage four.
Stage F
But, the real goal is to move to stage four.
Stage F
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
our: Unconscious Competence. At this stage your new skill is “automatic” and “second nature.” We do it almost
.
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
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
effortlessly.
In your investing career, skills have become habits. You no longer need to study about investin
In your investing career, skills have become habits. You no longer need to study about investin
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
; you have mastered your niche. In fact, you may decide to tackle new areas because you have mastered this one
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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