There comes a time in every businessperson's career when the tried and true practices we once swore by don't seem to work as well as they used to. While the economy plays a factor in the success of your business, so does keeping up to date with business trends and technologies that may be working for (or against) your company. That said, now would be an excellent time to take the temperature of your current functions and gauge whether its time to switch up your products and practices.

A fine first place to look is toward your competitors. It's worth seeking both local and nationwide businesses like yours in order to get a good grasp of the newest happenings in your industry. Find out where others stand in comparison to how you are doing, and then find out why. Are they offering something that you could also extend to customers? Learn what sets your biggest competitors apart and follow suit.

Next, remember the business plan you wrote at the start of your journey? It's time to pull out your original plan and compare it with the reality of your current status. Very often, a business takes shape differently than how it reads on paper. You may now be offering different products or services, working in a different climate and economy than when you began, or have established different goals. Reviewing and updating your business plan will give you a clearer picture of current ambitions and how you plan to reach them, lending more efficiency to your business practices.

Working hand-in-hand with updating your business plan is keeping yourself up with the times. It could be as simple as reading publications about your field, attending conferences or seminars related to your industry, or following the news and articles of relevant Web sites. Whatever you do, staying in touch with the changing face of your industry will make you a leader among the rest; this will not go unnoticed by others.

One of the common causes of less-than-stellar profits is a lack of marketing. While the term "marketing" conjures up an image of expensive advertising space and financial risk-taking, it doesn't have to be this way. Enter: social media. Many still think Facebook and Twitter are excessive social outlets for the younger crowds, but in truth, most successful businesses now have accounts on the major social networking sites. It's no longer just about posting photos and giving status updates; Facebook and Twitter are excellent avenues for interacting with, and reaching out to, new potential customers.

Speaking of the Internet, it may also be time to evaluate your company's Web site. Without knowing, it's possible that any Web site, though once suitable, will begin to appear outdated and, thus, unprofessional over time. Not surprisingly, this can easily scare off potential customers. Take some time to update your site and give it a welcoming appearance. While you're doing this, be sure to gauge how easy it is for visitors to navigate your site. Will readers quickly know which links will lead them to the information they seek? If your site is more akin to a maze than a linear path, potential customers may find it easier to go somewhere else. Make sure they don't with an easily navigable Web site.

With these simple pointers in mind, you may begin to see your business in a different light; one that shines brightly on the necessary changes to be made as well as trusted practices that should be continued. It only takes a few moments to put yourself on the path to success, so try out one, or all of these aforementioned tips and you just may find yourself at the head of the pack.