Selling your business is a lot like selling your house. There are certain things you can do that will quickly up the value of the business without spending too much time, money, or effort. For instance, by fixing up the yard and changing the front door on a house, you can completely change its appeal and subsequent value.

Whenever I talk to small business owners, I try to learn about their goals for the future. What kind of sales increase to they expect to see? What major purchases do they want to make? Will they move their office or hire more employees? Most of the time, a business owner has answers to all of those questions. But when I ask "What's your exit strategy," it usually results in silence. I might as well ask, "Have you filled out your will yet?"