[curiousgeorge]

When you are not profitable you pay people as little as possible and deal in cash. Give work to friends and friends of friends at below market rates. Do not give out equity or anything that requires paying lawyers to do things. Don't make promises you cannot cash.

Don't get trapped by socialized norms of what it means to be a founder or how one goes about starting a company. Simply launch the business and iterate towards profitability - identify issues and fix those one-by-one. If you need cash to fix some problems, that's a challenge in and of itself. Get a job. Unless you are getting a lot of cash taking investment can be a bad move - see the point above about lawyers.

In my experience dealing with other people is time-expensive and making commitments to others significantly reduces flexibility in how products can be positioned and sold. You will know how valuable your company is after you understand the problems and time needed to execute. And then you will understand that the notion of fairness is defined by what different parties bring to the table. If you can quantify this and know its value then you know your limits for negotiating. Treat people with respect but ensure you get results for what you give up and that you're trading resources for something that will get you growth and profitability.