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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…

Even as Tim Cook says Apple is focussing on India for the long term, it’s facing consumer heat given high costs of iPhone 6S and 6S Plus

Not only consumers but even Apple is quite unhappy about the pricing of its iPhone 6s and 6s Plus, which launched in India on October 16.

The high cost of the phones, given foreign exchange fluctuations, have had an impact on their sales.

However, Apple said it wants to make long term investments in the country.

A reason why, the impact of the high costs of the new models and their harsh impact on demand is being viewed seriously by the company top brass. "We've adjusted some prices around the world for the launch of iPhone 6s and 6s Plus... Obviously when we increase prices around the world, it's normal to see some impact on sales rates," Apple's CFO told ET.

The iPhone 6s and 6s Plus are available in India between Rs 62,000 and Rs 92,000 depending on memory and model.

This pricing is nearly Rs 9, 000 more than the last year's launch price of iPhone 6 and 6 Plus and also Rs 14,000-16,000 costlier than their prices in global markets.

So why are the prices surging? Experts say it is due to two reasons, firstly due to depreciation of the rupee against dollar and higher tax, with imported smartphones attracting 11.5% more tax than locally assembled ones while this difference was just 5% last year.

But Apple has long-term investment plans in India. Apple CEO Tim Cook said the company was investing for the long term in a few markets like India where factors like currency were "transitional kind of thing". "I was really impressed last quarter with our progress in Vietnam and Indonesia and India among others," he said.

Meanwhile, as per Apple, iPhone sales in South Asia, including India, during the July-September quarter was up by 35%.

This push was mainly due to festive sale season.

However, last year's sales cannot be compared because some retailers say that this time there was around 20% lower demand compared with last year's demand for iPhone 6 and 6 Plus.

Cook said the company achieved this despite "very strong headwinds" from foreign exchange rates. Apple also posted largest absolute revenue growth ever, growing by 28% at $234 billion, or about Rs 15,18,000 crore.