Our Unique Process: Ten Steps From Discovery Meeting to Funds Wired

By Michael D. Rubin, CEO & Founder · Updated September 2026 · 730 words

MDR & Associates sells a company in ten steps: discovery meeting, engagement letter, marketing package and HD video, buyer screening, buyer and seller meetings, multiple letters of intent, offers reviewed with you in person, due diligence, legal documents, and closing with funds wired. The sequence is designed to do two things at once: keep the sale confidential and put several qualified buyers in competition for your company.

You make every decision that matters; the firm does the work around those decisions.

Steps 1 to 3: before any buyer is contacted

1. Discovery meeting. We learn your story, your goals and what makes the company valuable, review three years of financials and give you an opinion of value as a low-to-high range. We also decide honestly whether we can sell the company for maximum value. If we do not believe we can, we do not take the engagement.

2. Engagement letter. You and the firm sign an agreement setting out exclusive representation, the term and the fee, which is paid only if the company sells.

3. Marketing package and HD video. We prepare a confidential marketing package with a business profile and a financial recast, along with a professionally produced HD video. The package is the buyer's first real look at your company; see what goes in a confidential information memorandum.

Steps 4 and 5: finding the right buyers

4. Buyer screening. We take the company first to our own database of qualified individual buyers, capital groups and private equity groups, using a blind profile that does not name it. Only if needed do we place blind ads on the major business-for-sale marketplaces. Each interested buyer registers, signs a confidentiality agreement and completes a financial profile before seeing any details. We answer their questions from the information you have provided, and gather more from you as serious buyers dig deeper.

5. Buyer and seller meetings. Buyers who have studied the package and are close to an offer meet you, at a time and place that protects confidentiality. These meetings are about fit and understanding: how the company runs, what the buyer plans and what the transition would look like. Price and terms are left to the next step.

Steps 6 and 7: competition and your decision

6. Multiple letters of intent. A principal of the firm tells buyers what price, structure and transition you expect, and negotiates with several at the same time. Competition, not a single bidder, sets the price, and a clear message to every buyer keeps the back-and-forth from dragging on.

7. Offers reviewed with you, in person. We have a fiduciary duty to present every offer to you in person. We compare price, structure, financing and terms side by side, and you accept, reject or counter. The goal is the right price, the right structure and a buyer who will look after what you built.

Steps 8 to 10: from agreement to closing

8. Due diligence. Once a letter of intent is signed, the buyer verifies what it has been told, reviewing financial records, contracts, operations and people. We manage the requests and keep the deal moving. Our article on what happens after a letter of intent explains this stage in detail.

9. Legal documents. Transaction attorneys draft the purchase agreement and closing documents. We work alongside your own attorney and CPA so that what was negotiated is what gets signed. An attorney experienced in M&A matters here, since one unfamiliar with deals of this kind can slow the process or turn manageable points into disputes.

10. Closing and funds wired. Both sides sign, ownership transfers and the proceeds are wired to you.

How long it takes

Timing depends heavily on preparation. Companies whose records are organized before the engagement tend to move through due diligence faster, and a buyer with financing already arranged can close sooner than one still applying for a loan.

Most sales take three to nine months from engagement to funds wired. The fastest has closed in eight days and the longest took eighteen months, depending on the company, the buyers and the financing involved. The full detail is on our process page, and examples of the marketing videos are on our videos page.

Begin with step one

The discovery meeting is free and confidential, and it commits you to nothing. For a quick first estimate before we meet, request a valuation snapshot.

Where this fitsSell your business in Texas →

Questions owners ask next

Do I have to attend every buyer meeting?

You attend meetings with buyers who have been screened and are close to making an offer, usually a handful rather than every inquiry. Earlier questions are handled by the firm from the information you provided, so your time goes to buyers who are serious and qualified.

Can I stop the process after signing the engagement letter?

You are never obliged to accept an offer; you accept, reject or counter every one. The engagement letter sets out its term and how either side can end it, so read it with your attorney before signing. Because the fee is performance based, you owe nothing if the company does not sell.