Sharing equity with business partner

Hey HN. I am relatively new to the site and have been reading for the past 4 months or so. As Im in the process of forming my startup, I came across a question I felt was worthy. I brought a business partner on board and we have been working together on my idea. My idea was already created before him and he had signed an NDA. He has been there now for about 2 months helping bounce back ideas. He brings strong connections and a great wealth of knowledge. He's also a good friend, however we have no agreement on compensation. I know there will be a day when we receive funding and he will probably ask for equity or something but I was curious if this is something I should try and settle now or later?