I think it’s worth emphasizing that if you have any plans on doing an equity round (meaning, literally, selling equity for funding) down the road, then it’s really important that you get a good grasp on how your equity will become whittled down over time. Not fun to think about, but what you sign up for.

Here’s a really helpful simulator that allows you to plug in some numbers and it will simulate your ownership after each round.

http://www.ownyourventure.com/equitySim.html

If feeling the pain of giving up ownership is bad, then being surprised at how little your left with after dealing with the investors is downright torture. It’ll help to know well in advance what each founder’s situation will look like. No surprises!