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Showing posts from May, 2011

Kacharagadla Featured Article

5 Ways to Validate a Business Idea, Right Now

Don't let your day job or lack of capital stop you from finding and testing a business idea. Here's how.
Last year, I embarked upon a personal challenge to validate a business idea in 30 days. To make it even more difficult, it was a random idea chosen by my readers. They asked me to do it without using my existing website, traffic and business connections and without spending more than 20 hours per week on the project. On top of that, I limited myself to spending no more than $500 validating this idea. The experiment was a success.In just two weeks, I built an email list of 565 subscribers without having an actual website. Then, I reached out to a handful of those subscribers and pre-sold 12 copies of a book that didn't even exist yet, all in less than 30 days. I wrote about the experiment in real-time with in-depth weekly updates, successes, failures and lessons learned along the way, right here in my validation challenge. Today, I want to share with you the five most effect…

8 Ways to Turn Partnerships into Profits

Every potential partnership has two customers and every successful partnership delights them both. Very few companies have the resources and know-how to successfully produce products and also distribute them. While this constraint weighs most heavily on cash strapped start-ups, even a behemoth like MicrosoftMSFT +0.11%sells through distributors and Heinz relies on Kroger to pump out its best-selling ketchup.
In a marketplace gone global, productive partnerships are more crucial than ever. Partnering has become so critical that the word “coopetition” had to be coined to describe companies that partner in some areas while competing in others. Yet very few partnerships ever deliver on their symbiotic promise. Why? The single biggest mistake we make in our partnership efforts is selling potential partners as if they were end users. While the interests of partners and end-users must overlap they are seldom if ever identical Back in the 1980s, Data Broadcasting Corporation (DBC) developed a…