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Nice article. Well written and with just enough detail.

I am curious though if the team also had equity in the company?

(post author here): The team did not have equity but I paid out substantial bonuses voluntarily to all employees. There's a lot of work to be done on how to incentivize employees in bootstrapped startups tbh. Nathan Barry has some good posts on the topic but I don't think it's a problem with any best practices yet: https://nathanbarry.com/profit-sharing/ https://nathanbarry.com/equity/

Thanks for taking the time to answer. Yeah, you arrived at the root of my question which was how do you share with your team, especially in a closely held startup.. I probably would have been better served directly asking the question. ;)

I'd suppose any minority stake would be compensated the same way as a fraction? Similar to having stock options in a startup that's been sold.

Even if it's an asset only sale, those people still own X% of a company that now has $Y Millon on the books.

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