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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…

India may become second largest emerging market after China: Report

India is offering relative value in a slow growth world and it's faster growth is allowing the country to emerge as the second largest emerging market after China, noted a recent report by Bank of America Merill Lynch. 

"India is a rare economy in today's world in that it is not in stagflation. It is poised to overtake Brazil this year after having overtaken Russia last year in nominal GDP terms to emerge as the second largest emerging market after China," the report added. 

The country is expected to register a GDP growth of 7.4 per cent this fiscal, according to the global brokerage firm. 

"India still offers relative value in a slow-growth world. In our view we see a shallow recovery at home, we estimate growth at 5.5 per cent in FY16 and 6.5 per cent in FY17 (old GDP series)," BofA-ML said in a research note today. 

According to the old series, the base year for calculation of national accounts was 2004-05. 

The Central Statistics Office has now adopted the new series of National Accounts with 2011-12 as base year and subsequently revised the Gross Domestic Product (GDP) growth rate to 6.9 per cent in 2013-14 from 4.7 per cent and 5.1 per cent in 2012-13 from 4.5 per cent. 

The report noted that India's slow recovery was largely because of delayed global revival and lending rate cuts. It expects a turnaround in GDP numbers next fiscal assuming better rains and lending rate cuts. 

The report also noted that lending rate cuts hold the key to cyclical recovery and reforms remain important but more from a medium 5-10 year perspective. 

On the Reserve Bank's policy stance, BofA-ML said that the RBI is likely to cut another 25 bps in February after it meets its under-6 per cent January 2016 inflation mandate. 

RBI Governor Raghuram Rajan on September 29 effected a more-than-expected interest rate cut of half a per cent to boost the economy.