Whitey - 1:08 pm on Mar 11, 2010 (gmt 0)
It depends on the situation and the motivation of the buyer , in my view.
For example small business people often consider the value of personal income. So if your website is a small proposition a seller and buyer will look at the profit / loss plus personal income + the value of the assets .
The seller and buyer may then factor in " potential " and work out how they can increase the value in a negotiation.
More structured business' will work along similar lines. Personal income is more likely to be recognised as a cost of running the business and not considered , unless there are above market rate benefits flowing back.