10 expert tips to help you grow your business

From tiny acorns mighty oaks may grow – a sentiment that rings very true in the business world. Getting the small things right will help you create a solid foundation from which to build your business, so follow our 10-step guide to help you on your way

Make a thorough business plan and revisit it often - if circumstances change you might have to alter your sights more than slightly, and this isn't a bad thing. Recent financial hiccups might prompt a number of businesses to evaluate their levels of borrowing, for example, but reducing indebtedness is almost never a bad thing if there is a choice.

A related point is to keep communicating: if there's a problem, you're better off talking to your bank sooner rather than later.

Never be afraid to ask for the money. Lots of would-be salespeople fall down because when it comes to getting the money for a particular transaction they start to back down. It might be a particularly British thing but we do seem shy of asking people to hand their money over. This is serious at the point of sale but even more so in marketing materials and occasions - we're past masters at getting loads of enthusiasm, maybe even mistaking this for an actual sale, and then letting the customer go with a polite agreement to stay in touch. Ask for the money, or all those people on The Apprentice were humiliated in vain!

Do what you say, when you say: This means delivering services or goods and getting it right. Royal Mail offers services well beyond just the standard delivery service for businesses. For example, they can arrange to have your mail collected from your premises, arrange same day or signed for services for more urgent or valuable items which offer online tracking for peace of mind. Royal Mail also offer a range of services like ecommerce, warehousing and fulfilment solutions. Their new Mailshots Online service is a one-stop online facility that can help you create and distribute your mailings.

Never mistake an invoice for cash: Customers can unfortunately go down as well as anyone else in the current financial climate. It's easy to look at a strong order book and assume everything's going to be fine when the last batch of invoices is paid, and things might well be; there's also the chance, unfortunately, that a customer will be unable to pay. This will be worse for them than it is for you; at the moment it's probably as well to budget assuming a level of bad debt will arise. If you end up with extra cash in the bank as a result, too bad!

Be positive in your promotions and if you're writing your own website make sure it ends up looking like the rest of your marketing material. Loads of businesses make their sites look different, like some sort of add-on that they haven't really thought through. The good news is that this makes opposition easy to beat in the looking-professional stakes. Royal Mail offer a free web critique tool which gives businesses website consultancy to help improve the effectiveness of their websites.

Be objective. Your own enthusiasm for your product or service doesn't automatically translate into sales, but if a potential customer isn't interested in (say) an antique wind-up watch, it's not personal. They're rejecting the watch, not the seller. Likewise don't let your enthusiasm for a subject sway your pricing or even your ability to sell; a few years ago the Observer ran an interview with a second-hand and antiquarian bookseller who was doing very well but would have done better if he could have coped with selling rather than hoarding John Wyndham first editions. Your stock is your stock - if you can make a living selling something that appeals to you, great, but it's only ever something to sell.

Your equipment should serve you, not the other way around. It's easy to think you need the latest and the best, but first make sure you know how technology can help your needs. New smartphone devices, such as the Apple iPhone, are great for helping you stay in close contact with your customers (and your business) no matter where you are – making it easier for you manage your enterprise. But there's no point spending thousands on the latest high-spec computer equipment if all you use it for is to check and send the odd email. Do your research before you part with your cash and make sure everything you buy will add value to your business.

Likewise watch out for unnecessary spending on bits of marketing. In 20 years of journalism your correspondent has never spoken to any business owner who doesn't regret at least some sort of costly promotion. Make sure that every marketing pound is spent wisely in terms of getting maximum results for the outlay. Royal Mail's website has lots of useful information and tools to help make sure your campaigns work more effectively, including advice on customer targeting to help you make the right marketing decisions.

Finally, treasure your customer. Put in loyalty schemes - give them an incentive for coming back or recruiting new customers for you - and remember that a happy customer is your best advert! Also the cost of selling to someone you already know is vastly lower than finding new blood.