Normalize story point estimation:
Find a small story that would take about a half-day to develop and a half-day to test and validate, and call it a “one”
Estimate every other story relative to that “one”
Establish velocity before historical data exists:
For every full-time developer and tester on the team, give the team 8 points (adjust for part-timers)
Subtract one point for every team member vacation day and holiday in the iteration