The real art in small talk comes in how you keep the conversation flowing. Good conversationalists don't monopolize the conversation, they orchestrate it. So ask a question of the other person and really listen to their response. Then elaborate on what they said with comments from your own personal experience and ask another question. The best topics for conversations are sports, books, theater, movies, food, museums and travel.
Good conversationalists are people who keep up with the news and are actively involved in life.
They read, have hobbies, take classes, try new restaurants and travel. The final step in small talk is the ending. A subtle way to signal that you're ready to end the conversation is to break eye contact and look off in another direction. If you've truly enjoyed talking with the other person, tell them so. I've really enjoyed talking with you.