pre-sale analysis 
Set goals
Anticipate value range, transaction terms, tax implications
Identify challenges ahead
What will you do after the sale

financial
Eliminate co-mingling of business and non-business assets
Get your books in order.
Prepare audited financials.
CPA financial statements: upgrade quality
Minimize certain discretionary expenses
Maximize the amount of unadjusted cash flow
Document profit performance.
Produce monthly profit reports.
Document capital expenditures
Tidy up debt load and debtors
Get a formal business valuation
Understand the true profitability of your business.
Receivables, Payables, Financial ratios. Get in line with industry.
Tidy up your creditors and even take those early-settlement discounts.
Tidy up your Balance Sheet.
Maximize the amount of unadjusted cash flow. ( Five million of EBITDA better than four
       million of EBITDA and one million of adjustments.)

operations
Keep normal operating hours.
Make yourself redundant.
Systematize the business.
Train others to work your system.
Reduce owner dependency.
Keep your eye on the ball.
Don't let your business performance decline.
Document the critical steps of Operational Processes Quality: document continuous improvement in business practices and performance
Document continuous improvement in On-Time Delivery
Recruit middle management if necessary

facilities & equipment
Repair non-operating equipment or remove it
Clean up Plant, Equipment, and Premises
Organize and clean facility Document, carefully maintain & upgrade computers and equipment.
Remove Non-Productive Equipment
Survey and correct potential Environmental Issues
Repair signs, replace lights, clean the premises and dress up your presentation.

inventory
Remove items that are not to be included in the sale.
Remove non-productive.
Maintain your inventory at a consistent level; keep it fresh and properly displayed.
Treat inventory in accordance w/ GAAP (Generally-Accepted Accounting Principles)
Inventory: upgrade accounting
Sell off obsolete or slow moving stock items.

relationships
Document business relationships
Train up staff
Consider management succession
Personnel: document job descriptions
Personnel Performance: document performance to unit production/output.
Benefit Programs: in-line with industry
Key Management: professional agreements
Suppliers and distributors: document agreements
Training and Development: creative programs
Remove Non-performing personnel

personal
Know your reason for selling.

Legal documents and issues
Organize your legal paperwork.
Incorporation papers, permits, licensing agreements, leases, customer and vendor contracts, etc.
Legal Issues: document potential impact and remove efficiently

sale
Disclose, disclose, disclose, and do it early.
Be reasonable in expectations on sales price and terms.
Get your advisory team in place.

growth plans
Document new product ideas for new owner, new marketing strategies
Survey for demand levels of New Products/Services
New Markets: survey for demand levels.
Promotional Programs: identify (advertising, trade shows, etc.) requirements to support new products and markets
Growth - Facility: room for growth? Growth - Equipment: identify requirements for growth
Growth - Personnel: identify requirements for growth