My friend and I spontaneously launched a marketing agency a few months ago. He owns 2 small ecommerce brands and is an expert marketer. I was looking for a new opportunity, have equity in 1 small ecommerce brand, have similar marketing strengths, have run a large service company, and worked at a marketing agency.

We closed 2 clients, and after initial deliverables, they liked the work and wanted more services. I did the business development and sales to close both clients; however, we leveraged his brands as work examples. For the client work, I've been 100% full-time, and he's been ~25%. Also, I've built out the whole agency operation - how to manage clients & projects both internal and external.
The goal is to grow the agency to offer all the services to run marketing for ecommerce brands: creating content strategy, sending emails, running PPC ads, organic/paid social, managing blog, etc.

Here's our dilemma: How do we structure a partnership that accomplishes the following:

• We grow a team of marketers who are doing work for the agency's clients his 2 brands.
  • The brand I have equity in will eventually become a paying client at a discount.
• I'm currently doing 100% client work, but as we grow, it will start to cross into his brands.
• We want to share agency profits, since we're both working to service the clients and manage the agency.

Examples of why we're stuck:

Example A

• Client A hires us to write 10k words a month for $4000
• We hire a PT employee at $3000 a month to do writing for Client A his two brands
  • I manage the employee for the client's strategy and needs. My partner manages them for his brands.
• How do would we split the $1000 profit since he's gotten value out of the employee and the work he's done is 100% on his brand?

Example B

• Client D hires us to run ads for them for $3000 a month. My partner builds the whole campaign and manages the spend every month.
• What should he keep vs what should the agency keep?

Example C

• We hire a social manager to service one client do social for both his brands. I manage them and build the strategy. We work together to proof posts before they are published.

These are just some examples. You can image how everything is going to be mixed together.

We need to figure out how to split agency profits, equity, workload, responsibilities, etc.

Any thoughts are appreciated.