It is very fortunate that most of the steps that will make your business more valuable to a potential purchaser will also make your business a stronger, more viable and profitable business under your ownership and management. They may just improve your business enough that you would not want to sell at all.
One sure way to diminish the value of your business is to quit focusing on developing and managing it. Not only will your revenues and customer retention suffer, but potential buyers will sense that your business is in decline and will be less interested. You will reduce your options as a potential seller. Nothing changes the dynamics of a business sale transaction as much as changing from a potential seller who might be interested in a sale on the right terms to a distressed seller who doesn’t have many choices.