As experienced business owners and bookkeepers, we have worked with multiple small business owners, partnering with them to help make their endeavors successful ones. We’ve learned there are fundamental items that successful business owners incorporate into their daily practices that less successful owners may not.If you are looking to expand your business and increase your income in 2013, you may want to implement some of the strategies that successful business owners have undertaken:

• They’ve implemented a sales and marketing plan. A marketing plan is a combined strategy that could involve Internet marketing, newsletters, direct mailing, social media strategy, newspaper, television, or radio advertising. Marketing generates leads and entices people to call your place of business. Sales come into play once you have gained their attention and they are receptive to what you have to say and what you are selling. Keep in mind that sales and marketing – and your sales and marketing team – are often separate entities and the practices for both activities are vastly different.
• Utilize indirect marketing practices. Indirect marketing involves meeting business owners at networking events, providing an on-site presentation of your goods and services, handing out business cards or business samples. Garnering word of mouth based on your indirect marketing methods is worth more than paid advertising.
• Keep your website up to date. Starting a blog is an excellent way to showcase your expertise and build a relationship with potential clients. A blog – one that is built into your website – will also keep your site current and more searchable. You can use your website or blog to notify clients of specials and coupon offers.
• Accounting and bookkeeping systems are in place from day one. If you don’t know how much, and from what sources, your income is being realized you will not know whether your efforts are truly making money. Conversely, as a business owner you need to understand your expenses, whether they are in line with your efforts, and if there are areas, in which you can cut back. Spending time with an accounting professional may offer insights into your business and receiving an in-depth analysis of your business’s books sets your business on the path toward financial success.
• Researching whom your competition is and what your business does differently helps set you apart. What value-added options do you offer clients? How do your prices compare to others? If you can articulate what sets you apart from the rest, it is easy to share that differentiating factor with potential clients and your staff.

These are just five of the many steps a business owner can implement to enhance current practices and help increase cash flow and draw in more clients.

What other successful practices have worked for you? We’d love to have you share them in the comments below.