Sell Side

Michael Stanley
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Tune in to the Sell Side podcast for a comprehensive exploration of the business selling journey. Join host Michael Stanley from Keel Point as he engages with business owners, attorneys, wealth advisors, and other experts, offering you an immersive, panoramic perspective on the transaction process.

  1. 14H AGO

    Episode 26: From Bookkeeping to Strategy: A Fractional CFO’s View with Shelby Ashley

    On this episode of Sell Side, host Michael Stanley sits down with Shelby Ashley, founder of Optimized Financial Solutions, to unpack what small business owners often misunderstand about their finances—and how that confusion can limit growth, cash flow, and exit opportunities. Shelby shares her journey from corporate financial analyst to fractional CFO and explains why most businesses outgrow basic bookkeeping long before they’re ready for a full-time CFO. The conversation dives into cash vs. accrual accounting, why profit on paper doesn’t always mean money in the bank, and how forward-looking financial strategy helps owners regain clarity and confidence. Michael and Shelby also explore the M&A side of small business finance, including preparing a company for sale, internal succession planning, common valuation mistakes, and how buyers should evaluate cash flow, debt, and operational risk before acquiring a business. Along the way, Shelby offers practical advice on hiring, forecasting, and removing the owner from day-to-day operations so the business can truly scale—or sell. Whether you’re overwhelmed by your numbers, thinking about an eventual exit, or considering acquiring another business, this episode delivers grounded, real-world insight into what healthy financial leadership actually looks like. https://optimizedfinancialsolutions.com https://www.linkedin.com/in/shelby-ashley-mba-a72903b9/ https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/overlay/photo/

    33 min

  2. JAN 22

    Episode 25: Sell Side Short on LOI

    In this episode of Sell Side Shorts, Michael Stanley breaks down one of the most critical documents in the M&A process: the Letter of Intent, or LOI. He explains what an LOI is, when it shows up in a transaction, and why it represents a major turning point for business owners considering a sale. Michael walks through what an LOI typically includes, such as purchase price, deal structure, timing, exclusivity, and key contingencies. He also explains how an LOI differs from an indication of interest, why leverage often shifts once exclusivity is signed, and what happens during the pre-sale due diligence phase that follows. If you’re a founder or business owner thinking about selling your company, this short episode provides a clear, practical look at why the LOI is the first real commitment in a transaction and why it deserves careful consideration before signing.

    3 min

  3. JAN 8

    Episode 24: Maximizing Founder Outcomes in Platform and Add-On M&A

    In this episode of the Sell Side Podcast, Michael Stanley sits down with Wilbur Ellis to break down platform acquisitions, add-on strategies, and what they mean for founders navigating today’s M&A landscape. They unpack how private equity groups execute buy-and-build strategies, what makes certain markets attractive, and why many business owners are surprised by the value and flexibility these deals can offer. The conversation also dives into unsolicited offers, common pitfalls, and how running a professional, competitive process can significantly impact valuation. Whether you’re building toward a platform transaction or considering an add-on exit, this episode offers practical insight into preparation, timing, and maximizing outcomes for founders. https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

    31 min

  4. 12/04/2025

    Episode 23: Sell Side Short on EBITDA

    In this episode of Sell Side Stories, we break down one of the most fundamental concepts in business valuation: how EBITDA and multiples work together to determine a company’s true enterprise value. We explore why EBITDA—earnings before interest, taxes, depreciation, and amortization—is used to normalize profitability and reveal a business’s real free cash flow. From there, we dive into valuation multiples, unpacking how risk, industry dynamics, market trends, and strategic fit all influence where multiples land. We also discuss common EBITDA adjustments, including pro forma add-backs and one-time expenses, that can shape the final valuation picture. Whether you're preparing to sell, exploring acquisition opportunities, or simply wanting to understand how buyers assess value, this episode offers a clear, practical breakdown of the mechanics behind business valuation.

    3 min

  5. 11/20/2025

    Episode 22: Sell Side Short on Cash, Seller Notes & Earn-Outs

    In this Sell Side Shorts episode, we break down the real mechanics behind how small-to-mid-sized businesses are bought and sold beyond the simple “cash at close” model everyone thinks of. Michael walks through common deal structures, including: 💵 Cash at Close — the straightforward “check at closing” approach 🧾 Seller Notes — when sellers effectively finance part of the deal to bridge valuation or risk 📈 Earn-Outs — tying a seller’s payout to the future performance of the business You'll hear why these structures exist, how they allocate risk between buyer and seller, and the tax implications sellers should understand when evaluating their sale options. Whether you're considering selling your company or just want to understand how deals actually get done in the real world, this episode gives a clear, concise look at modern transaction strategies.

    3 min

  6. 11/06/2025

    Episode 21: Scott Smith - TRUE Network Advisors

    Michael sits down with Scott Smith, founder of True Network Advisors and executive at Patriot Growth Insurance, for a candid, deep-dive into how a “lifestyle business” became a 90+-agency enterprise—and what owners need to know before they sell. Scott traces his path from starving insurance salesperson in Atlanta to building Metro Benefit Consultants, returning to Alabama, and ultimately launching True Network Advisors in 2016 after a peer study-group inspired a bigger idea: a founder-run association laser-focused on helping independent agencies grow. They unpack the pivotal moment when True’s collaboration model evolved into an industry roll-up, culminating in the formation of Patriot Growth Insurance in 2019. Scott shares what he wishes he’d known going into private equity: why deal structure matters more than headline price, how to evaluate buyers (and their PE sponsors), the danger of “squeezing” a valuation you can’t operate to, and why sellers must protect operating room post-close. He also covers the emotional side of exit—deciding what you really want the next 5–10 years to look like, shifting from “me” to “we,” and taking quiet control of a process that can otherwise run you.

    47 min

  7. 10/16/2025

    Episode 20: Sell Side Short on Networking Capital Adjustments

    On this installment of Sell Side Shorts, we’re breaking down the essentials of working capital in a transaction. Using a simple car dealership analogy, we explore why buyers expect a business to come with “enough fuel in the tank” to keep running after the deal closes. You’ll learn: The basic formula behind working capital (current assets minus current liabilities. Why buyers look at 12-month averages to set a fair target. Common adjustments, like excess cash or deficits, impact negotiations. How escrow and purchase agreements address gaps between buyer and seller expectations. Whether you’re preparing to sell or just want to understand how working capital impacts deal value, this episode gives you a straightforward overview of a complex but critical topic.

    2 min

  8. 10/02/2025

    Episode 19: Wilbur Ellis - Keel Point

    In this episode of The Sell Side Podcast, host Michael welcomes Wilbur Ellis, a seasoned investment banker with deep roots in Huntsville. Wilbur shares his journey from speechwriting in Washington, D.C., to law and business school at the University of Virginia, and ultimately into decades of investment banking experience with firms like Morgan Keegan, Dane Rauscher Wessels, RBC Capital Markets, and Stephens. Together, Michael and Wilbur explore the unique challenges and opportunities facing family-owned businesses as they prepare for succession or sale. They discuss the differences between working with large public companies versus founder-led businesses, the importance of early planning, and how strategies like succession planning, pre-sale preparation, and understanding the buyer universe can maximize value. Wilbur also reflects on memorable deals, lessons learned, and why helping family businesses transition successfully has become his passion. The conversation highlights how their partnership is bringing expanded capabilities to Kill Point, offering family business owners not just transaction expertise but long-term advisory support designed to protect and grow value ahead of an exit. If you’re a founder, family business owner, or simply interested in the nuances of middle-market M&A, this episode offers valuable insights into preparing for a successful transition. https://www.linkedin.com/in/michael-k-stanley-jr-mba-cexp™-30916131/

    30 min
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About

Tune in to the Sell Side podcast for a comprehensive exploration of the business selling journey. Join host Michael Stanley from Keel Point as he engages with business owners, attorneys, wealth advisors, and other experts, offering you an immersive, panoramic perspective on the transaction process.

Information

  • Creator
    Michael Stanley
  • Years Active
    2024 - 2026
  • Episodes
    27
  • Rating
    Clean
  • Copyright
    © Michael Stanley
  • Show Website
    Sell Side