The first step to developing a successful business is to research your target market effectively. Doing so ensures that expectations are more realistic and focused. Without effective research a business won't be able to find out what customers want and what products and services they need. Nor will it know what competitors are doing; something that is vital if a business is to position itself successfully in the marketplace.

With the economy beginning to show signs of recovery, now is an excellent opportunity to market your firm and to make sure potential customers know about your products and services.

Becoming a great marketer involves taking a certain interest in psychology - why people behave the way they do. If you understand that, you're halfway to marketing successfully to them, because you'll understand how they think. Research empowers you with the kind of information you need to make such cognitive leaps.

Why should customers buy from you and not someone else? It is vital to emphasise something you offer that no-one else does. Don’t try to compete merely on price. Make your service excellent – remember the person who speaks on the phone may be the only contact the customer has with your company, so ensure all employees are trained effectively.

Marketing checklist for small firms by the Chartered Institute of Marketing:

• Research the market; find out what customers need and want
• Know what your competitors are doing
• Discover gaps in the marketplace where you can innovate
• Differentiate yourself from the opposition
• Identify opportunities
• Calculate potential profits
• Turn data into information, and information into knowledge
• Test the product out with real people
• Have a clear communications strategy