I suggest founders start with a low cap and only raise it once they have 1 year of money. A lead can come in later and perhaps set a higher price but I agree with you — dangerous to start high by yourself, as you can exclude investors unnecessarily.

Pre-seed Investor. Email: ash@sterlingroad.com. B2B, US only. I work with founders for 3 months before investing. More info: http://SterlingRoad.com/process

Pre-seed Investor. Email: ash@sterlingroad.com. B2B, US only. I work with founders for 3 months before investing. More info: http://SterlingRoad.com/process