I've worked with several startups and young companies and assisted others that have found themselves in similar circumstances. I think it's wise to simplify the decision. In other words:

Do you want to be the majority owner of a stable and profitable small business...

...or one of many minority owners of a rapidly growing business that will be acquired or sold in the future?

If you choose the later, you'll be working for a reasonable pay check until the company is acquired or sold. If you want to make bigger paychecks sooner rather wait for a big payoff all at once, get stable and profitable ASAP and accrue your big bucks along the way.