There is an essential element of business ownership that frequently gets forgotten by many seasoned business owners – preparing their business for sale.Why do you want to be prepared to sell your business? Simply, being prepared adds tens of thousands of dollars to the value of your business. Lets take a look at a few simple things you can do today that will, over time, increase the value (and saleability) of your business.How dependent is the company on you personally?Can your business function without you? Do customers ask for you personally? Great value is added to a business who’s operation is not dependent upon the owner both from a buyers perspective and from a lenders perspective should buyer financing be required.How do you remove yourself from being integral to the business? There are several solutions from delegation of duties, creating processes and procedures to hiring a sales team and administrative staff. Start working at promoting the business and remove yourself from being integral to the day to day operation of the business.Do you have a business plan and marketing plan?Both Business and Marketing plans are critical documents to any business. These documents do not have to be complex. Unfortunately few businesses have these documents and even fewer actively maintain these documents.The business plan is commonly thought of when financing is required however it should be a document that is frequently reviewed. Software is available that can help you create and maintain a Business Plan.The marketing plan is essential to every business. Indeed, marketing can easily be a full time job in itself. I’ve seen businesses of all sizes with no marketing plan, all suffering from the illusion that customers and clients will simply pour through the door for product and or service. This attitude is typically the down fall for many a business. Do not underestimate the power of the marketing plan. Consider structuring your business to include an expert who can help you in this area.Do you have an operations / procedures manual?I was in a restaurant the other day and in the kitchen was a monitor above the prep table. Anyone in the business, could make a meal by pulling up the step by step instructions on the monitor – which included photos! The point is consistency even if key staff are absent.
Start creating an operations / procedures manual from the perspective of how to run your business, (based on the above example of preparing a meal, step by step). Your manual will then allow your staff complete mission critical activities consistently by following step by step instructions.Your EmployeesYou need to ask yourself some tough questions regarding your employees. If you do not, a savvy buyer will. Are all your employees critical to the operation of the business? Are they all pulling their weight? Certainly if there are one or two that are not, it is better to address these issues now before the sale of the business starts.Start cross training your employees, creating traditions and even implementing a long term incentive program. Each of these areas creates loyalty, significantly improves employer / employee relationships but most importantly, increases the value of your business.Financial StatementsAccountant prepared financial statements are important to have on hand. For any potential buyer, do take the time to explain any abnormal occurrences such as drops in revenue and any increases in specific expense items.Having your accountant prepare Notice to Reader financial statements are acceptable for some businesses but if you are considering selling, I would recommend your accountant prepare a Review Engagement financial statement instead. The reason is a Review engagement is viewed as being more credible than Notice to Reader financial statements. Certainly in this day and age, should a buyer be in need of financing, many lenders will only approve loans based on Review Engagement financial statements.

Sometimes we all need a little lift. Whether you’ve had a recent knock to your confidence, have been going through stress in your personal or professional life, or have always struggled with your self-esteem, music is an essential tool for lifting your spirits and making you feel better about yourself.

According to a study by Heriot-Watt University, the type of music you listen to not only influences your mood, but also your personality, with indie and rock/heavy metal fans reporting the lowest levels of self-esteem, while fans of jazz, blues, opera, classical, pop, rap and soul all reported high levels of self-confidence.

So if you’re having a ‘down day’, why not boost your spirits by listening to some powerful, uplifting tracks? Here are five perfect confidence boosters.

Britney Spears – Toxic
Britney’s own struggles with her mental health and conservatorship have made her an inspiration for many people across the world.

This classic song is timelessly sensual, and the heavy beats throughout make it impossible not to dance to. A welcome blast of nostalgia, this tune has filled dance floors across the globe with fans old and new.

The video features Britney as a female spy playing the sexy flight attendant, seducing her passenger before she makes her escape on a motorbike and breaks into a high-security facility guarded by a laser security system.

This track and video is a guaranteed way to feel invincible, and deserves a place on your playlist no matter your mood.

Kelis – Milkshake
A cheesy classic that is guaranteed to make you feel all warm and gooey inside, Kelis pumps up the heat in this 00’s RnB track. Underpinned by intricate drum beats and electric elements, Kelis’ self-confidence is infectious, and it’s hard not to find yourself smiling at the lyrics.

This track is a great way to get into a flirtatious mindset, making it a great choice before going on a date or heading out for the evening.

And if you’re staying in? It’s a great mood lift. But beware! You may find yourself craving a sweet treat.

Eve (ft. Gwen Stefani) – Let Me Blow Your Mind
This RnB classic will capture your attention with its assertive rhythm and powerful vocals from 00’s icons Eve and Gwen Stefani. Featuring a laid-back – yet self-assured – beat, and catchy guitar riff, this is a great track for driving, and its empowering feel is sure to help you feel motivated.

Got a job interview lined up, or thinking of asking for a raise? This anthemic number is a quick way to feel positive and more assertive.

The video features Eve and Gwen Stefani crashing an exclusive event on quad bikes, causing a stir among the privileged attendants, and shoving the performer off stage to perform their own music, before finally being arrested and taken to the station in a police van.

This ‘baddie’ track helps you to tap into the hidden ‘bold’ side of your personality, and lifts your mood while keeping you feeling calm and cool.

Fergie – MILF$
If you have kids, it can be difficult to feel sexy. When you’re running around cleaning the house, changing nappies, or up to your elbows in dishwater, you can easily forget your sensual side – leaving you feeling frumpy and lacking in confidence and motivation.

Thankfully, Fergie’s comeback track is a quick remedy to your low mood and lethargy.

Featuring attractive mothers dressed in curve-hugging latex and silky lingerie going about their daily life in a dreamy, colourful suburbia, this track is a quick way to transform your self-esteem and transport you to a world where you are not just a mother, but a goddess too.

Why not shake off the day and tap into your feminine energy with Fergie, your sexiest PJs, and a bottle of your favourite wine?

Marina And The Diamonds – How To Be A Heartbreaker
Low confidence after a breakup? You’re not alone. Having your heart broken can leave you feeling depressed, undesirable, and unmotivated. So flip the tables on your ex and become a heartbreaker with Marina’s catchy club classic.

This empowering dance track will make you want to move your body and get in touch with your bad girl side, with its heavy beat and pounding rhythms.

Plus, if your libido has suffered as a result of your low mood, take a sneaky peek at the video – it will get your blood pumping with its steamy shower shots and smoking hot male models.