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Is your business in a post-holiday slump? It happens every year; service companies face a dip in business as consumers tighten the purse 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

rings to compensate for holiday spending. Coupons may help bring in some business, but they can only do so much to improve the bottom line.

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

Examples of combination products may in

So how do you keep your business in the black during the first months of the year? Try barter; it’s a great way to build your business, at

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

tract new customers, and fill downtime during slow months.

Barter is a way to effectively market your business. A new customer acquired fo

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

r a barter transaction can easily transition into an ongoing cash customer. Unless that customer offers a service that you routinely pay fo

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

Combination pro

r, then you can develop a deal for an ongoing exchange of services and lower the amount you pay out for services.

Barter is simple: you pe

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

rform a service for someone and they perform a service for you or give you product that equals the value of your service. It’s a powerful w

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

ay to build your business, in good times and bad, as long as it is used effectively. There are a few tips to leveraging barter wisely.

Fir

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

st, never barter for something you don’t want or can’t use. Barter for things you need to buy, such as product for your company, tax servic

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

es, cleaning services, or consulting. It’s also great to barter for things you want, but wouldn’t spend your hard earned cash on, like sewi

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

g machines, spa services, or that fabulous cashmere throw you just won’t buy for yourself. Remember, while it is better to barter than sit

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

Following aspects would a

idle, only make trades that provide you with something of value.

Second, set your barter appointments for when you have the most downtime.

dd to the challenges in developing combination products:

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

The idea is to bring in new business when you don’t have any, not turn away cash paying customers. Hair stylists often experience slow per

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

iods during the day at the beginning of the week; that’s a great time for them to swap a haircut for a new sweater or a highlight for a ful

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

l body massage. You can also schedule recurring appointments for slow periods, such as the personal trainer swapping a Tuesday afternoon ap

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

pointment with a CPA who keeps his books.

Third, barter, like any other financial transaction, requires solid bookkeeping and clean record

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

Professional from academic institutions, pharmaceutical industries, health care indust

s. The IRS treats barter transactions as income received for both accrual-basis and cash-basis clients, therefore your records and your tax

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

returns need to reflect it as such. It is easy to manage in a straightforward exchange, and can be a bit more complex when utilizing a bar

.

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

ter exchange where you accrue points. In those cases, follow the rules of the exchange and make sure you spend all your accrued points by t

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

Companies that provide selfless information through particip

he end of the year.

Give barter a try and you will be pleasantly surprised by the options available to you and the growth in your business

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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Do you recognize this. You arrive at the store for a new mobile phone and just the model you had targeted is not available... It is a simple example, but stock delivery could make all the difference in you business. For different part of the purchase process you may choose either a supplier or a partnership.

Do you find that you could probably double your craft output and therefore double your earnings – if you just had a little help? You may have considered hiring someone to help with your craft show business, but you don't know exactly how it is going to pay off in the end.

Drafting can be defined as a descriptive way to deliver an idea through the use of illustrations and drawings that show in detail the process of turning the idea into reality. This process dates back to thousands of years ago when primitive drafters illustrated on the walls of caves the processes by which they lived, hunted, worshipped, and died.

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Digg It - Barter - The Service Business Solution to the Post-Holiday Slump

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