5 Ways to Validate a Business Idea, Right Now

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.

Want to Wow Potential Investors? You Have 19 Seconds.

What do you do when you sell a company for $100 million? Make another one, of course.

That's what Barry Hinckley, who co-founded and sold the HR software company Bullhorn for $100 million, just did. Last month marked the official launch of his new app, Yotme, a kind of Linkedin for nightlife that allows pre-approved members of similar demographics to combine and conquer various get-togethers throughout their respective cities.

In one business-oriented application, it has been adopted by publicists who are tasked with getting members of the media to attend event-promotions showcasing the latest sneakers, handbags, booze, etc. Yotme lets them efficiently connect with the kind of influencers and reviewers they hope will be eager to spread the word. (A recent event in Boston sponsored by Makers Mark and Effen Vodka, sold out within hours of posting).

8 Mindset Shifts to Build Your Business on the Side

Not everyone is capable of building a business on the side because, let's be honest -- it's so damn hard. People fail at building a business when they're working on it full time, so imagine how difficult it is when you're doing it on the side.

But still, some people are able to crack the code and make it. And they have the same 24 hours as you. Their unfair advantage? They have the right mindset, and they build everything based on that. In today's post, I want to give you the same thing -- the mindset of people who succeed. And to help you apply what I share here, I've created a simple cheat sheet.