I’m planning to sell my business, so I want to cut back on expenses to show a better profit.

Absolutely, when business owners plan to sell their business, they want to show a good profit for prospective buyers.

One common mistake business owners make is cutting back on their marketing. When you cut back on your marketing, you actually make your business less visible. When prospective buyers don’t see the brand of the business they want to buy visible in the marketplace, they may question the value of that brand or company. When you cut back on advertising, you may actually diminish the value (and visibility) of your business. Instead, sharpen your marketing and branding efforts to make sure you are Brand A — the premiere brand in the marketplace. Along with showing prospects a history of solid profits, you’ll be able to demand a higher price based on the perceived value you have created.