One of the most common shortcomings for many small businesses is the failure to adequately prepare for the future. This doesn’t just refer to ensuring that your business is on track for growth, but taking into consideration the various things that will change because of that growth. You need to ensure that the steps you take within your business today are not going to hinder progress later on down the track, and this requires a little bit of forward planning to make sure you don’t succumb to any common pitfalls. Market conditions are continually changing and the way that consumers interact with businesses is one of the major changes to plan for. For example, while existing clients may be relied upon for constant business at the moment, ensure you don’t limit your own prospects by catering too far towards a small group of customer needs. Being receptive to new opportunities can help to open doors which may be of immense use as your business grows. Furthermore, ensure that you have contingency plans in case something happens that affects your cashflow for a period of time. Installing a comprehensive business accounting software can be a good investment for a fledgling business. The CashManager range of software from Accomplish can help you project your business financials from the early stages, allowing you to plan ahead with budgeting and invoicing capabilities to ensure that you and your company remain on track throughout its growth. Complacency can be another huge business setback. By constantly revisiting and updating your ongoing financial plan, you can track where your company is exceeding budget and, more importantly, where there is room for improvement. For example, changing your material supplier to grow with your business as demand grows is something to consider as you grow. After all, as your business begins to thrive, consistent quality and reliability may become more important than simply securing the cheapest deal possible.