Selling a business
When It Comes to Selling Your Business, Let Others Do the Heavy Lifting
Who does what in a company sale, why your job is running the business, and the few decisions only you can make.
By Michael D. Rubin, CEO & Founder · Updated September 2026 · 717 words
When you sell a company, your most valuable job is to keep it running as well as ever, and the best way to do that is to let a team of professionals carry the sale itself. An M&A advisor, a transaction attorney and a CPA each take a distinct part of the work. Owners who try to do it all tend to let the business slip, and slipping results are the fastest way to lose a buyer's confidence.
Selling a company is an intense, often emotional process layered on top of a full-time job. Dividing the work clearly, and trusting each professional to carry their part, is what lets you stay the owner buyers want to see: calm, available for the decisions that matter and focused on results.
Who carries which part of the load
Our answer on the advisors you need besides the M&A firm explains how to choose each one.
| Who | What they handle |
|---|---|
| M&A advisor | Valuation view, financial recast, marketing package, buyer search and screening, confidentiality, negotiating offers, coordinating due diligence |
| Transaction attorney | Letter of intent review, purchase agreement, representations and warranties, closing documents |
| CPA | Financial statements, tax planning on the deal structure, support during the buyer's accounting review |
| You | Running the company, the key decisions on price and terms, meeting serious buyers, supplying information |
| A trusted manager | Helping gather information and keeping operations steady, once told |
Your job: keep the company exactly as it was
Buyers watch monthly results right up to closing. If sales or earnings dip because your attention has shifted, they will question the price or the deal itself. Keep operating hours, service levels and inventory where they have always been. Keep the premises in good repair. Keep chasing new business and keep customers happy. Buyers notice the small signals, from slower response times to a thinner stock room, and read them as a company losing its grip.
It sounds obvious, but many sellers let things slide precisely because the sale is absorbing their energy. See how to sell without distracting your management team for practical ways to protect the business during the process.
Let professionals set the price
Most owners carry a number in their head, often built from years of effort and a sense of what the company ought to be worth. The market will pay what comparable companies with similar earnings and risk command, and no more. A price set too high slows the sale or stops it altogether, and leaves the company looking stale to later buyers.
A professional opinion of value, or a formal business valuation if you need a defensible figure, grounds the asking price in evidence and gives you a basis for judging offers when they arrive.
Let the advisor guard confidentiality
If employees, customers or suppliers learn of a sale too early, key people may start looking for other jobs, and customers or vendors may hedge their bets or end contracts. An advisor controls the flow of information: a blind profile first, a signed confidentiality agreement and proof of funds before any detail, and meetings arranged away from the workplace when needed. Your part is to keep the circle small inside the company.
A few decisions only you can make, and they should be settled early: whether you are willing to stay on for a period after closing, and whether you would consider carrying part of the price. Both affect what buyers will offer, and your advisor can use them only if they know your answers.
Preparation belongs on your list as well, ideally long before you go to market and while nothing is forcing your hand. Organizing records, settling litigation, dealing with any environmental questions and gathering leases and contracts in one place are tasks your CPA and attorney can help with, but only you can make them a priority.
How we take the load off
MDR & Associates prepares the recast, the confidential marketing package and the HD marketing video, screens every buyer and negotiates alongside your own attorney and CPA. Our VP of Client Engagement is your main contact during marketing, so your days stay focused on the business, and a principal of the firm is in every negotiation. The ten steps show where your time is needed. To discuss how it would work for your company, contact us.
Where this fitsSell your business in Texas →
Questions owners ask next
How involved should I be if the advisor does the heavy lifting?
Involved in decisions, not logistics. You set goals, approve the marketing materials, meet serious buyers and decide on every offer. The advisor handles outreach, screening, scheduling and coordination, and keeps you informed without pulling you away from running the company.
Should my regular attorney handle the sale?
Only if they regularly handle business sales. A transaction attorney knows what is standard in purchase agreements and what is worth fighting over, which keeps the deal moving. Your regular attorney can still advise on company history and matters they know well.