In today’s competitive global markets and high tech innovations, being a small business owner continues to have many challenges. Everything from the cell phone to the latest marketing techniques have leapfrogged in innovation two or three generations over in the last several years. Branding and marketing of all products continue to change, be re-invented or repackaged to gain or retain market share.

How has your small business kept up? Do you have an updated website, new compelling product brochures, motivated and empowered employees, an updated physical plant or store front? Do you have a strong brand that represents your business?

As a small business owner, I'd like to share a few suggestions that may stimulate some thoughts and plans of action for your business. Below is a list of things to consider:

1. Plan a 4-5 hour “business re-do retreat” on a Saturday morning with all your employees, not just the senior personal. (IBM’s annual retreat has over 200,000 participants that includes thousands of their employees, customers and vendors…it’s no small wonder IBM is always one of the top 10 sales and profit companies in the world). Hire a professional moderator. Most moderators’ fees are $750 - $1000, a modest investment to make your retreat a success!

2. Improve your most valuable asset, your employees. Work patiently with new employees (train them well before expecting a lot). Give employees responsibility and the freedom to do the job. Lavish praise on successes and minimize criticism on mistakes...instead, use the mistake as a training opportunity. Seek training programs that moves your team from good to best! Again, invest in professional training. Newly inspired and empowered employees will offset the cost.

·         Advertise, advertise, advertise! Advertising is listed as an expense…but it's really an investment:  McDonalds spends 8% in advertising, Gallery Furniture 10%! Find out what the leader in your industry spends as a guide.

5. Remember, increasing your business always begins by expanding the sales of your current customer base. Ask your clients often, how can your company become more valuable to them and then exceed their expectations.

6. As the leader of your team, spend time on strengthening your leadership skills. Invest time and money to become a great leader, shoot for becoming the best in your industry.

7. Last but not least... learn to adapt to change. Seek it... embrace it and teach your employees to accept it, so your company can be ahead of the next new business curve. Be your industry's leader in creating or adjusting to change. For us as entrepreneurs this may be the hardest task of all as we tend to be an independent lot.

I am sure these are not all the things one must do as a small business to succeed, so send us some good practices that are working for you. As small business owners we need to stick together in a world that continues to be harder to succeed.

Entrepreneur / Author / Business Consultant

Mr. Garcia has started 9 businesses in the last 30 years and recently wrote and self-published an exciting first book, “Market Yourself Back to the Top!” He is also a career coach and an accomplished motivational speaker.  www.market2top.com

We invite all of you to get a discussion going.  Please submit your comments at the end of this article, Thanks.