By Chuck Groot

It’s no longer sufficient to make sure you have business plan in place, or a marketing plan, or an advertising plan - you need to take care of business. Think of the long haul, remember all the planning and research that went into starting your small business. Now, you need to maintain that momentum in investment in research and analysis and sustain your short-term success as you anticipate the future.

1. Talk to your customers

Customers' perceptions of your business can really make or break a business. Deliver quality experiences and products, and they'll quickly sing your praises on social media; mess it up, and they'll tell the world even faster. Fast growth depends on making your current and potential customers happy with their experience.

How do you do that? Ask them!
a.   Do surveys.
b.   Follow up immediately after a sale.
c.   Follow up a month after the sale.
d.   Ask them if there is something you can do better.

2. Look at the numbers

Keep a close eye on your financial statements because it provides you with insights into the health of your business. You can project future cash flow by several months based on current activity, expectations for sales and income, demand for your product and services, set overhead (e.g. loan payments utilities, and rent) and other factors. By comparing actual cash flow to projections, you can spot changes that will help improve performance

3. Innovate

Be willing to investigate new ideas and concepts. Where does innovation come from? Listen to unsatisfied customers. Your customers are a sounding board for problems that may exist and new concepts for change. Demographic changes in society. As the population gets older how is it going to effect your business? The new generation is more adapt to electronic games and devices, how will it effect your business?

Technology is changing the world we live in every day. In order to stay relevant, it is important to innovate, regardless of your industry, as well as want to get better. This could mean new programs, new thinking or new processes. I believe that you are either moving forward or you are becoming obsolete.

4. Spend time on Sales

How much time should you spend on sales? Well if you're running a new business you should devote at least 80 % of your day to it.
If you're an established business you should spend at least 30% of your day on the sales process or connecting with customers.
Does that sound too extreme? It shouldn't. What else could you be doing that is more important?

5. Joint Venture with another Company

Partnering with a company in a related industry is one of the cheapest and easiest forms of marketing that you can employ. If you make spa products, for example, you may be able to convince a local health club to carry them in its store by offering a discount to its members. Likewise, you can send a free, one-day health club pass to anybody who buys your lotions and scrubs.

These are just the first few areas to improve. We will go into these deeper in the next few articles and then on to more ideas.