My first funding round, of my first company was entirely mistake ridden. I will share my experience though as an example of what not to do. The company that I

My first funding round, of my first company was entirely mistake ridden. I will share my experience though as an example of what not to do. The company that I had started basically thrived on who you knew in terms of manufacturing and processing in a given area. The larger the manufacturer the larger the paycheck, no up front cost to the company, only back end at time of payment. Basically I had two business owners approach me with a rolodex of large manufacturers, any of which would net a larger amount of revenue than my entire previous year of pavement pounding that I did on my own. I "sold" 50% of my company to these two in hopes that we would all have the same passion and drive that I had (I was a college student so money was a big deal.) As you have already assumed, they wanted nothing to do with the operations or effort involved, or even introductions to these manufacturers, only profits which came from my efforts. Long story short, 49% should be the limit no matter what since I was unable to rid my company of the leeches and ended up selling my share to them, just to get out.