Set Up Your Office 365 Team Site
Your Office 365 subscription automatically provisions a default team site for your organization. If you need a separate site for your team, you can easily create a subsite with its own unique permissions. You need to have at least Full Control privileges on the Team Site to be able to do this.
From the Microsoft Online Services Portal, click Visit SharePoint Home below the Team Site link or click Team Site from the Top navigation.
At your Team Site, click Site Actions at the top-left corner and then select New Site.
The Create window appears.
Select Team Site from the templates available in the Silverlight carousel.
Enter the site’s title and URL on the boxes below the selected template and click Create.
That’s it! Your Team Site is ready to go with a shared documents library, a team calendar, a task list, a discussion forum, and a Wiki.
When you share links to files from a SharePoint document library, please note that spaces are converted to %20 in the links. Use underscores rather than spaces as separators because, as you can see from the examples, underscores enhance readability. This is true for site names, libraries, lists, and documents. You can always edit the title to remove the underscore from your sites, libraries, and lists through the Settings section.
Example: Underscores as separators
Example: Spaces as separators