Three sentence history: I was brought in on an opportunity by the original "idea" person. After trying out a few others, there ended up being a total of three of us. The initial project was going to require significant capitalization from external sources (none of us had real money for the materials needed), and being my first negotiation I accepted a very small stake (with strings for a couple more points if profitability didn't turn in the first two years).
After a few months we realized the idea just wasn't going to work and settled on one that requires (related to the first project) trivial startup money.
- Original idea person holds almost all of the startup.
- We've all put in about the same amount of time.
- We'll all be investing about as much as each other.
My question: As we're settling into researching and codifying a business plan, I feel I should be renegotiating my stake in the startup before we get too far along. Should I be shooting for a third of the company or is that unrealistic?