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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…

Investing in cities ahead of demand, says Naidu

Keen on developing cities by design,not demand

Chief Minister N. Chandrababu Naidu has reaffirmed his Government’s commitment to invest in the cities in anticipation of future requirements and give them freedom to raise substantial investment resources by monetising their land assets.

The Chief Minister said the Government was exploring opportunities with companies across the world to find partners to develop state of the art urban solutions. “Andhra Pradesh does not want to under invest in its cities,” he averred. The Chief Minister was addressing the participants of the World Economic Forum meeting in Tianjin in China on Monday.

He elaborated the State Government’s efforts to build a world-class city in Amaravati which had historical background and said “we are keen on developing cities by design not on demand”. Accordingly, the Government was striving to invest in network of the cities — integrating the smaller towns around the core region. It had taken adequate care to ensure participatory planning involving stakeholders at all stages.

Mr. Naidu explained how he could pool over 33,000 acres through the land pooling scheme for the development of Amaravati. Plans for the capital city region, capital city and its seed capital were all ready with international participation and local advice. The Government, at the same time, had taken steps to build capacity and governance in the urban bodies and had undertaken reforms in the process of building cities which could compete to attract investment to generate economic activity.

Mr. Naidu had also participated in a meeting on food security wherein the agriculture sector was faced with the challenge of producing more food, more efficiently and more sustainably. This would require the four pillars — namely food availability, access, use and overall stability — that determine the food security. The process was, however, fraught with challenges, among others, in the form of land use change, population growth, global water crisis, land degradation and climate change.

The agriculture sector faced problems like inadequate adoption of technology, inadequate infrastructure for transportation and storage and lack of remunerative prices. He explained about the emphasis given by his Government for the development of agriculture sector which was categorised into primary sector.

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