a) Make of list of what "jobs" need to be done in order to make the company run.
b) Make a list of what kind of work you are both good at, both inside the company and for hire.
c) Make a list of what you are not good at, or don't like doing, but still needs to be done
d) Assign each task to a person, either yourselves, or an outside person
e) Set yourselves up as a C corp with stock ownership, not a partnership.
f) Assign a pay for each type of job that needs to be done. Give higer value work a higher pay rate than lower value work.
g) Be willing to pay yourselves in a mix of cash and stock. Don't imagine for a minute that the ownership will remain exactly 50/50 forever.
h) Try to focus on keeping the higher value work, and subcontracting out the lower value work, or work you don't like.
i) Try to imagine that you are competing against virtually free labor and what it means to how you value your own work and service offerings.
Given the economy, I think it makes more sense to try to buy out an existing shop than to start one from scratch.