Does the business have equipment that is not needed? Sell it. Is there non-operational equipment? Fix it if it is needed, or fix it and sell it. Most buyers will want all equipment to be in working order. If you don’t need it, get rid of it.
If you have your third cousin or an old friend on the payroll and neither is needed, let them go. Give them a small severance to ease the transition.
If you have some old accounts receivable, consider discounting them to get them off of the books. If the company has some disputes with customers, why not settle them? If there are some legal issues hanging around, get rid of them even if it costs a few bucks. None of these issues look good to a potential buyer.
If you have your favorite easy chair and a valuable painting in your office, take them home. Acquirers will expect to get everything they see in the business. Take help of Mergers And Acquisition Brokers .
If the business owns the building or a corporate retreat, spin them off to a separate corporation. The lower the price, the easier it is to sell. Many buyers don’t want to invest in real property. Become a landlord. If you don’t own your building, check with the landlord to see if he or she will lower the rent or rewrite the lease with other more favorable terms.
Check with your accountant to find out how you can make the financials look better, cleaner, more profitable, etc.
One last point — if you don’t have operational and marketing manuals, create them. It will make your operation look a lot more professional.