Discy Latest Questions

  1. There are many examples of cottage industries like pottery, handcrafts, blanketmaking, weaving, carpentry. These are typically small scale home based business, usually such industries operate in rural areas. Although these days there is no limit to these industries, they are growing and could be fouRead more

    There are many examples of cottage industries like pottery, handcrafts, blanketmaking, weaving, carpentry. These are typically small scale home based business, usually such industries operate in rural areas. Although these days there is no limit to these industries, they are growing and could be found anywhere. For example, I had a neighbor, back in my hometown. She had a farmhouse and guess what she used to sell pickle, firstly in the neighborhood and then with time she kept on expanding her business and now it has a big production house in their farm house, selling over more than a thousand jars per month.

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  1. To come up with a solution for a problem or a new idea by thinking through as an individual or as a group is known as brainstorming. Here are some examples of brainstorming: 1. You coming up with an idea for new business 2. Trying to come up with new marketing campaign ad

    To come up with a solution for a problem or a new idea by thinking through as an individual or as a group is known as brainstorming.
    Here are some examples of brainstorming:
    1. You coming up with an idea for new business
    2. Trying to come up with new marketing campaign ad

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  1. If you have known anybody in your area selling handicrafts from their houses having their own unit, then you do know what it is. By the definition: cottage industry is a small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility. Generally, coRead more

    If you have known anybody in your area selling handicrafts from their houses having their own unit, then you do know what it is. By the definition: cottage industry is a small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility.
    Generally, cottage industries are defined by the amount of investment required to start, as well as the number of people employed. They often focus on the production of labor-intensive goods like handicrafts or baked food etc.
    In simple terms we can say a cottage industry is a small manufacturing operation, often run out of a person’s home.
    These industries play a significant role in the economies of developing countries as these are an important source of employment, especially in rural areas.

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  1. "To be able to do the process of brainstorming accurately, you can follow the following 4 rules: 1. Quantity matters: More the number of ideas coming out of brainstorming session, the better it is. 2. No idea is silly: Think creatively and put across any idea that comes to you because no idea is silRead more

    “To be able to do the process of brainstorming accurately, you can follow the following 4 rules:
    1. Quantity matters: More the number of ideas coming out of brainstorming session, the better it is.
    2. No idea is silly: Think creatively and put across any idea that comes to you because no idea is silly.
    3. Don’t judge: As mentioned in the above point, no idea is silly. Hence let everyone put across their ideas. Don’t judge anybody’s idea.
    4. More brains better than one: The outcome of a brainstorming session is always better if there are more number of brains thinking or ideas or solutions. This also supports the first point which mentions that quantity matters.

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  1. Following are some of the steps you can use to conduct survey: 1. Determine your target audience (The people you want your business idea to appeal to) 2. Decide on the mode of survey (online or offline) 3. Finalize the questions for survey 4. Reach out to the target audience with the survey (onlineRead more

    Following are some of the steps you can use to conduct survey:
    1. Determine your target audience (The people you want your business idea to appeal to)
    2. Decide on the mode of survey (online or offline)
    3. Finalize the questions for survey
    4. Reach out to the target audience with the survey (online or offline as decided in step 2)
    5. Analyze your responses and come up with conclusions.

    To know about the tools that can be used to conduct surveys you can read this article: https://www.feedough.com/startup-resources/the-5-best-survey-tools/

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  1. Proof of concept need not be a final product. It is just an exercise which can be in the form of surveys, demos, and landing pages. Its main job is to validate the hypothesis of the problem-solution fit. A pilot, on the other hand, is the initial rollout of the product into a limited segment of theRead more

    Proof of concept need not be a final product. It is just an exercise which can be in the form of surveys, demos, and landing pages. Its main job is to validate the hypothesis of the problem-solution fit.
    A pilot, on the other hand, is the initial rollout of the product into a limited segment of the market. Its job is to validate the hypothesis of product-market fill and to get feedback on the acceptability of the product so changes can be done before releasing the product fully.

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  1. "Here is a list of some brainstorming techniques that can come in handy while having a brainstorming session: 1. Brainwriting: In this method people write down ideas or solutions on a piece of paper. Once all are done, they then create variations of existing ideas. 2. The negation technique: This meRead more

    “Here is a list of some brainstorming techniques that can come in handy while having a brainstorming session:
    1. Brainwriting: In this method people write down ideas or solutions on a piece of paper. Once all are done, they then create variations of existing ideas.
    2. The negation technique: This method involves thinking of how your idea can fail and coming up with preventive measures for the same.
    3. Reverse brainstorming: Here you start thinking about solution in the reverse fashion. Like thinking about the don’ts in business so that you don’t do them.
    4. Starbusting: To reach a solution ask multiple question.
    5. Rolestorming: Participants are assigned roles to be able to look at the problem from different perspectives.
    You can read in depth about these techniques in this article: https://www.feedough.com/brainstorming-techniques/

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  1. I won't really call them disadvantages, maybe we can say that what are the problems faced by a cottage industry. Starting with a very basic problem, competition. Its difficult for a cottage industry to resist and sustain in this competition with big manufacturing units producing almost same productsRead more

    I won’t really call them disadvantages, maybe we can say that what are the problems faced by a cottage industry. Starting with a very basic problem, competition. Its difficult for a cottage industry to resist and sustain in this competition with big manufacturing units producing almost same products, maybe better. Hence cottage industries may be seen as “hobby” businesses rather than legitimate small-business operations, which means owners must work to establish brand recognition and build a solid reputation for quality products and services.
    It is also difficult for them to do marketing for their product as they are operating on a small scale, they can’t put all their money into advertising. Hence they must use some creative ideas for marketing of their product.
    It’s a home based industry which takes us up to another problem of finances, cottage industries may face difficulties securing financing for business start-up and expansion.

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