Concrete will eventually chip and crack over time. Outdoor concrete is subject to the weather on top of everyday use; indoor concrete is subject to many years of use. Repairing chips in concrete is easy and not costly, just so long as the surrounding concrete isn't severely damaged or weakened.
Fixing Chipped Concrete
Clean the area around the chip by clearing away any debris. If there's a lot of dirt or dust in or around the chip, you may want to clean the area with water.
Load the caulk into the caulking gun. This can be done by first pulling the plunger of the gun all the way back, inserting the caulk tube, and then slowly pushing the plunger back. Most caulk gun plungers will snap into place when they are far enough in.
Cut the end of the caulk tube so that the tip is the appropriate size for the chip. The closer you cut to the base of the tube, the bigger the tip will be and the more caulk will come out at once. A utility knife is recommended because it will make a cleaner cut than scissors.
Slowly spread the caulk over the chipped area so that it fills the chip.
Wipe the filled chip's surface with a clean rag dampened with mineral spirits. This will clean away excess caulk. Let it sit for a few hours to ensure the caulk has set in. If the concrete is outdoors, you will want to cover the repaired area with a weighted sheet of plastic to ensure nothing damages the repair before it sets.