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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…

Kumar Birla takes over as Vice Chairman of Century Textiles

Kumar Mangalam Birla
In a move widely perceived as the formal takeover ofby the Aditya Birla group, the board of the company has appointed Kumar Mangalam Birla as its Vice Chairman with immediate effect. Kumar is grandson of company's chairman BK Birla.

The company's stock was trading flat at Rs 552 a share. Kumar's mother Rajshree Birla is also a director on the company's board and joined the board in May this year. The move was a foregone conclusion as had made it clear that Kumar will takeover the company from him.

Apart from textiles, Century has a sprawling cement business which, analysts believe, will be ultimately merged with Aditya Birla group owned Ultratech. Ultratech is India's biggest cement company with 67.7 million tonnes per annum of capacity.  BK Birla group companies  -- Century Textiles has 12.8 million tonnes of cement capacity while Kesoram Industries has 7.25 million tonnes.

The Aditya Birla group have also increased their stakes in Century Textiles to 50 per cent from 45 per cent after conversion of a preferential offer of shares issued to the promoters in July 2014. BK Birla is unwell and is currently living in Mumbai.

In a note dated April 14, global brokerage firm Credit Suisse had said Ultratech could improve the profitability of BK Birla’s cement assets by 50 per cent and a merger with Ultratech would be a win-win deal for all stakeholders. Approval by the Competition Commission of India for the deal might be needed in Maharashtra, Karnataka and Madhya Pradesh.

According to a plan prepared by Axis Capital, Century Textiles and Kesoram Industries could merge their cement units with Ultratech in an all-stock transaction. The Birlas have not confirmed this plan.