> I don’t draw a salary, so the total amount I earned from TinyPilot in 2023 was $236k.
and
> Result: I worked 35-40 hours per week, a reduction from previous years, and traveled more than any previous year.
This is a person who is effectively full-time CEO of this business and whose market salary is likely at least $236k. If they sold the business, the new owners would have to pay someone else to put in those 35 hours.
Maybe the new owner could employ a less-skilled manager and pay them less, or maybe there's still lots of potential growth or room to cut costs, but that's all quite speculative: right now the business has a profit, and therefore a valuation, closer to zero.
> I don’t draw a salary, so the total amount I earned from TinyPilot in 2023 was $236k.
and
> Result: I worked 35-40 hours per week, a reduction from previous years, and traveled more than any previous year.
This is a person who is effectively full-time CEO of this business and whose market salary is likely at least $236k. If they sold the business, the new owners would have to pay someone else to put in those 35 hours.
Maybe the new owner could employ a less-skilled manager and pay them less, or maybe there's still lots of potential growth or room to cut costs, but that's all quite speculative: right now the business has a profit, and therefore a valuation, closer to zero.