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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…

‘Digitisation to open up more opportunities for women’

E-commerce is having a transformational impact and there are opportunities emerging in areas such as made-to-order meals, handicrafts and others, which women can capitalise on.

The growing digitisation and mobility would open up more ways for women to participate in economic activity and help in gender diversity, ICICI Bank CEO Chanda Kochhar said.
“There are so many new e-commerce opportunities around very small cottage entrepreneurship, which can enable more and more women to participate,” she said on the sidelines of a CII HR summit on diversity and inclusion.

In her keynote speech, she said e-commerce was having a transformational impact with opportunities emerging in areas such as made-to-order meals and handicrafts among others, which women could capitalise on.

Ms. Kochhar cited various studies showing that women contribute to only 17 per cent of India’s GDP, below the global average, despite accounting for 50 per cent of the population and having the potential to represent a much larger part of the workforce.

A report by McKinsey Global Institute said that bridging the gender gap could add $700 billion to India’s GDP by 2025. The report titled ‘The Power of Parity: Advancing women’s equality in India’ said 70 per cent of the increase would come from raising India’s female labour-force participation rate to 41 per cent in 2025 from 31 per cent at present. This would bring 68 million more women into the economy over this period, it said.

“Women are such a large part of talent pool available in the country, that in order to use our talent pool fully we need to make sure women participate in economic activity. I also think a large part of India’s consumers are going to be women, so having women in decision making makes the decision much more comprehensive,” she said.
 TH

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