This works for me and my clients. What about for you? redacted

You should be backing into a valuation based upon a return target (20% a year, 30% a year, etc.) that you've determined makes sense for risk profile (illquiid, small business, levered, etc.) and determine the growth you need in the business to justify it, the compounding you can reasonable get based on current business levers, and determine valuation. While comps can be helpful, for smaller businesses they do tend to break apart because quality of business varies so wildly