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Here you can find the answers of our community experts to the questions related to business development, as well as ask your questions on marketing, sales, HR or strategic planning.

How do I choose a name for my business?

To begin with, you must agree that it is difficult. Start with the first brainstorming with a bunch of different names. Then google them thoroughly to see what has already been done and throw 95% of them away. Make your name easy to pronounce. Make it interesting. Do not choose a meaningless name that doesn’t reflect the nature of your business in any way (with all due respect to brands such as Google and Yahoo). Perform a trademark search by name, then make sure you can get a domain name. Good luck!

Does having a business partner increase a chance to succeed?

Having a business partner does not guarantee success. It is worth to consider teaming up with a partner if you need additional management skills or startup capital. In this case, you should pay attention to their personal qualities, as well as their ability to provide technical or financial assistance, as this will determine the success of your partnership. A successful partnership usually occurs when the partners complement each other so that one partner's weakness is another one's strength.
If you still believe that getting a partner is a good idea for your business, ensure that each of you has a clear understanding of roles and responsibilities.

I have to make a major shift in the business direction. Which decision to take on employees?

You will agree that it's hard to let half of your team go and start recruiting new professionals, especially if your team are good people. You don't have to replace specialists if their skills are not enough to implement new business tasks - why not retrain them instead?
If you find good people, learn how to manage them, inspire them, and most importantly - hold on to them. After all, these people are what makes your business.

I want to start own business and try myself as an entrepreneur. What kind of business should I create, given the lack of experience?

I'd suggest you starting a business which:

- Will be truly inspiring you
- Does not require an insane startup capital
- Has the scale-up potential within a reasonable time
- Is related to the field in which you have some experience or expertise
- You’d like to develop day-to-day (and not get bored in a week)
- Can significantly improve customers’ lives.

How many employees do I need as a minimum to open a small bakery?

As a minimum? I would say two. You can not manage your retail business efficiently on your own. What to do if one day you feel sick or have to attend a dentist? Two people who will be able to stand your back would be enough for a start. In the future, you will figure out the needed number of employees depending on your everyday tasks.

Is a website necessary for a small local business?

In my opinion, there is no excuse for not having a website, even if it's not used for doing business directly. Clients use the internet primarily when looking for products and services. If you do not have an online presence, your potential customers will have no choice but to go to the websites of your competitors. This is especially true for small local businesses competing for the share of the local market.

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