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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…

Andhra govt starts acquisition of 600 acres for Kia Motors facility

Hyundai Motor Company’s sister concern Kia Motors is all set to establish its first Indian manufacturing facility in Andhra Pradesh as the state government has initiated the process for acquisition of land meant for the company’s operations.

Recent reports cited Sri City as the possible location in AP for its close proximity to Tamil Nadu, which is the base for Hyundai Motors’ manufacturing operations and its vendor ecosystem. However, Kia has chosen a place that is closer to Bengaluru city.

In its orders issued on Thursday, the AP government has directed the Anantapur district collector to acquire 600 acres in Erramanchi village near Penukonda on the national highway connecting Bengaluru for an “industrial park”. Sources told Business Standard that the acquisition was meant for Kia’s upcoming manufacturing facility.

The government has even mentioned the survey numbers of the land having a total extent of 599.38 acres for the acquisition besides fixing Rs 0.5 lakh per acre as the acquisition cost. The identified land is nearly 120 km from Bengaluru city, according to sources.

Having decided to set up its manufacturing plant in India, Kia had scouted for a suitable location in Gujarat, Andhra Pradesh and Uttarakhand. The company finally zeroed in on the south Indian state, according to sources.

Besides locational advantage, AP was found to be an attractive destination for the company as the government has been offering big incentives besides acting fast on such investment decisions in its pursuit to attract large-scale investments in the automobile sector. Japanese four-wheeler maker Isuzu had already starting operations in Sri City and HeroMotoCorp was given a large plot of land in Chittoor district for the proposed bike manufacturing plant.

Recent reports suggested that the government had offered reimbursement of sales tax one-and-a-half times of its capital expenditure on plant and machinery, external connectivity among other things, to Kia Motors.

According to these reports, Kia is planning to invest around Rs 5,000 crore on this facility in phases to start with a production of 20,000 cars per annum. Seoul-headquartered Kia Motors is the second largest car maker in South Korea.

First steps
  • The AP government on Thursday directed the Anantapur district collector to acquire 600 acres in Erramanchi village near Penukonda on the national highway connecting Bengaluru for an “industrial park”
  • The identified land is nearly 120 km from Bengaluru city, according to sources.
  • Recent reports suggest the AP government had offered reimbursement of sales tax one-and-a-half times of its capital expenditure on plant and machinery, external connectivity among other things, to Kia Motors.
  • Kia is planning to invest around Rs 5,000 cr on this facility in phases to start with a production of 20,000 cars per annum

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