In the day to day of managing customers, generating leads or running a business, it’s easy to get comfortable. But just when you’re settling in or simply continuing to run at that same pace, change steps in. So, I like to remind the businesses I work with and even me in my own business – it’s important to remember the basics – the fundamental reasons you started and are in business today. They may seem fundamental but way too many companies fail to operate on these principles and far too many fail for the simplest reasons.

Buzz is Not Sales

Plain and simple: buzz is bull. It’s a word that means nothing. Without specific sales deliverables or expectations attached, buzz is like a whoopee cushion: a joke that has all the noise and none of the consequences for the real thing. Never talk about buzz as a synonym for sales. Always operate with clearly defined conditions of satisfaction and goals.

Never Ever Compete on Price—Ever!

Never develop a reputation for having the lowest price or fee and never sell or compete on price. This does not mean you can’t price fairly or offer package pricing. Just don’t undercut the competition or try to “compete” with big business (in quotes because if you are a small company you should never try to anyway). Figure out what you need to charge to make substantial built-in profits above your “nut” (cost of doing business). Most customers do not come to your business because they offer the lowest price. They come because they perceive VALUE. If your customers perceive your product or service is low quality and offers little value to them, they will leave, regardless of price. Worry more about value and personal connection to your customer base and less about competing on price.

Find Your Profit Center

Know which products, services or activities that make you the most money. Then devote your time and resources to them, sell the heck out of them to secure your present and future. Service them well and create new services for them where and when you can. This builds a layer of protection around your business in slower or leaner times.

Three Customer Nevers:

• Never take customers for granted
• Never assume you really know your customers
• Never stop selling your company to your customers

With fleeting loyalty, you must consistently and fiercely connect with your customers. You need to show them not what you did for them lately but what you will do for them tomorrow. The best business and customer relationships focus forward. Ask questions, listen to the response and note as many details as you can.

Know Your Competitors

This may seem strange after I just stressed the importance of never ever competing on price. However, you need to compete—but smartly. Your best weapon? Information. Know as much as you can about your competitors. Then ask yourself questions like:

• How much business is at stake?
• How do I get ahead?
• How do I compare?
• What are my strengths and what are the competitor’s weaknesses? How do I leverage both of these?

Information is power. Knowing your competition and how to out maneuver them and how to better build and run your business is key

Keep these five concepts in mind, review them often. I have a quarterly review of my business goals and objective – and reviewing these items is part of that. It will help you stay laser-focused and dedicated to the growth of your business and revenue.

Jeffrey Hayzlett is CEO of The Hayzlett Group. He shares his executive insight and commentary on his show "C-Suite with Jeffrey Hayzlett" on Bloomberg TV and on Fox Business. Jeffrey appeared as a guest celebrity judge on NBC’s Celebrity Apprentice with Donald Trump for three seasons. He is a turnaround architect of the highest order, a maverick marketer who delivers scalable campaigns, embraces traditional modes of customer engagement, and possesses a remarkable cachet of mentorship, corporate governance, and brand building.  Follow Jeff on Twitter @jeffreyhayzlett