First of all, you should think over your practices in advance: you must decide whether your company will be a boutique or a multi-service one from the very beginning. "The latter is more suitable for large-scale projects, as engaging experts with new areas of expertise creates synergy for further development of the company", says Korelsky. On the other hand, if you choose narrow specialization, you shouldn't try to seize the unseizable.
"Choose your practices basing on market demands", suggests Anastasia Astashkevich, the Managing Partner of "Astashkevich and Partners" Bureau. If the chosen practice has lost its topicality, don't be too quick to abandon it: it is possible that as the economic situation changes, it will have a good thing going once again.
Decide on the type of partnership in advance. If you choose the "Russian way" - a way of a closed partnership, then you should bear in mind that such variant will be less appealing for your potential partners than the possibility to achieve an equal position in the company. In any case, the partnership agreement should be concluded before starting the business, take your time to do it. You should also think of a name. The experts present have agreed, that though most companies in Russia are named by the founding partners last names, in practice abbreviations or short names are not only more convenient, but also more appealing to new partners.
A major component of success lies in planning your budget in advance. Take care while spending your money: don't be too quick to waste your money on the office with a Kremlin veiw. "It is better to invest in people, not in offices", - says Andrey Korelsky. Anastasia Astashkevich and Aleksandr Aronov, the Managing Partner of "Aronov and Partnes" company, suggest that a "Regus"-like office will quite suffice to start wth. However if you are not too limited in resources, it is better not to cut costs on the back-office.