This famous quote by the renowned financier Suze Orman holds particular significance for early-stage entrepreneurs. If you find yourself leading an early-stage company, the instinct to safeguard your equity and maintain absolute control is common. Don’t stress about it. Often, early-stage founders are driven by the desire to retain complete authority over the company, even in the absence of a product or revenues. This is often explained by the fact that you consider this your baby.

This inclination often arises from a founder’s unwavering belief that they possess the world’s best idea and a determination to guard the shares at any cost, keeping the “secret sauce” under wraps and not opening up to anybody. Unfortunately, this approach can limit the company’s operational launch and hinder founders from securing the necessary capital and skills to translate the “secret sauce” into a viable venture.

Instead, consider being open to relinquishing equity to individuals with skills you may lack, including key team members who will stick with you even more if you provide them with the right financial incentives to be part of the long-term plan. In terms of investors, seek the strategic ones who can contribute expertise and bring clients to the table. Do not neglect family and friends types of investors or other angel investors that you may have easier access to, but make sure you also tap into institutional types like VC, family offices, and whoever else can write you a check and bring “growth” value. Be prepared to give away 25 percent of your company, and don’t forget that it boils down to the type of share you issue. There are those with voting rights, there are the ordinary ones with no voting rights, and there are also those with super “power.” For this to be done right, it is a good idea to allocate some resources to hire a corporate lawyer who can help you make the right decision from the beginning.

This proactive approach can accelerate your company’s growth and transformation from a concept into an actionable venture.