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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…

Zuckerberg spills beans on what the ideal elements of a startup should be, says mistakes are bound to happen

Mark Zuckerberg's Townhall also saw questions on the startup culture in India and what is takes to start a new venture and build a separate entity.

To this, Facebook founder said, "Building a company is a hard task but if you decide to start a company and begin hiring, you lose flexibility.

The idea is to first start building something that you really care about and once you are confident it can turn into something good, that's when you start hiring. That will allow you the flexibility to growth and build the way you want to."

Talking about elements of an ideal startup, he said, "You need to care. Focus on what you want to do and the impact of what you want to change." 

He also spoke about challenges and mistakes.

"No matter what you do, you will make mistakes. Even I made them. Mistakes in hiring, mistakes while setting up the company, the product, anything that can be done wrong, I have committed those mistakes. I was a college student and no one is born with those skills. You learn from mistakes, from trial and error. But if you do it together with your team, you get the power to wade through a lot mistakes. If you are building something that is valuable for people, they will forgive you for all the mistakes. Do as much good as you can," said Zuckerberg.

He said there will be many cultural biases and differences that any one individual will find almost impossible to deal with. However, if one faces these very challenges with partners that are building the company along with him, then the results are infinitely better.

"That is why you need co founders, partners to help you through. To help you run the business successfully. There is no way a person can face all these challenges, two-three partners and a good team can power you to overcome rough patches," said Zuckerberg.