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You've got an exciting new opportunity, or you just plain feel the need to make a change, whatever your reason - you've now got a business for sale. What can you do to make sure you get the best possible price for your business?

Taking a leaf out of the 'Guidebook to Selling your House' is not a bad place to start. Would be business owners are as likely to be put off by a poorly presented workplace as any home buyer. Get the maintenance done; look at low cost up-grades such as a spruce up paint job. First impressions count - don't lose them before they've barely stepped in

your door. Good presentation can go a long way.

Likewise, tidy up the internal workings. Document and formalise beneficial relationships where possible. The new buyer does not want key relationships to disappear when you do. Make sure intellectual property is protected and easily accessible. Tidy up customer databases - well documented systems make for a much easier transition of ownership and are an appealing and saleable factor.

Your buyer is going to want to see the accounts, including at least the past 3 years, and what future income can reasonably be extrapolated from that. And it's not just the buyer that needs to know. It's quite likely their bank will need that information as well. Ensure everything is going through the books. Do what you can to get your sales and margins up. Get rid of old or obsolete stock. Not only does it help de-clutter your business, you can often get a better price for it than selling it as part of the business, and from the buyers point of view, the price they have to pay comes down. Cut costs where you can, without causing longer term problems - you may still own this business a year from now.

For the same reason you should continue to build your business and your brand in the marketplace. Intangible assets are hard to put a price on but have real "off the balance sheet" value. Work to build the value of these.

If the business faces problems then put the energy into finding some potential solutions, implement them or devise plans to do so. Unaddressed or hidden issues may concern buyers - causing a loss of trust, and often, the loss of a sale with it.

The key to a successful outcome is no great surprise - have a plan. Know who your target buyers are, where to find them, and think about what they are going to want to know. Prepare and package your business for sale then market it well, using both on and offline mediums. Selling is a process that usually requires a fair amount of effort - put the work in, it's worth it.