Sell, don't issue: a worked example

What it is for

It answers the expert founder's runway and salary question with the chapter's own arithmetic: paid now for years of underpaid work, with no part of the money buying the steering wheel.

How it is made

Drawn by admin/build/infographic_svg.py from admin/content/infographics/drawn/sell-dont-issue.json, as a numbers. Change the data and rebuild; the picture follows. It keeps the book's colours in every theme of this site, because it is a printed picture: the same file goes into the PDF.

Notes

Illustrative only and not legal, tax or investment advice, as the chapter says; the graphic must carry that line and 'UK figures for one tax year'. Tax check: 18% x £1m = £180,000 plus 24% x £1m = £240,000, total £420,000. The chapter gives no numbers for the normal round beyond 'keeps 80% either way'; draw that side qualitatively.

Checked against the source

Every line below is on the drawing or behind it, and the build found each one word for word in v2/content/6-start-the-company/21__fund-it-or-do-not.md. A line changed in the chapter and not here stops the release.

• “A worked example, illustrative only: a UK company worth £10 million, a founder who owns all of it, an investor writing £2 million. The founder keeps 80% either way.” ✓
• “In this model the investor buys 20% of the founder's shares” ✓
• “about £420,000 in tax (18% on the first £1 million under Business Asset Disposal Relief from 6 April 2026, if its conditions are met, and 24% above)” ✓
• “has about £1.58 million, lends £0.75 million back and keeps about £0.83 million; the buyer pays 0.5% stamp duty” ✓
• “not legal, tax or investment advice; the UK figures are for one tax year and other countries differ” ✓