If you have a startup idea and want help turning it into a strong business plan, ChatGPT has answers. Start by giving it a prompt that sets out your business idea in a summary paragraph: I need help with a startup business. Here’s a summary of my business idea: [summary]. Having started the chat this way, I’ve found there are 10 questions where ChatGPT can provide helpful ideas:
What are the 5 biggest weaknesses that you see in this idea? You’ll get some obvious answers and maybe a few surprises you hadn’t thought of. You can follow up with:
How can I modify my idea to overcome [selected weaknesses]?
What customer segments should I pursue as the highest priority based on their size, need, discretionary income, and being overlooked by competitors? Be as specific as possible.
What are 10 free data sources that I can use to do market research to determine the size of these customer segments and total industry revenue? This will give you more reliable results than asking for the numbers directly.
Who are the main competitors for this business, thinking expansively, within the time period covered by your training data?
Write out 15 questions that I can ask potential customers in a market research survey. Recommend specific text I should use in each survey question, as well as the suggested question format, such as multiple choice, short answer, ranking, and so on.
What are all of the categories of costs that I will encounter in the first three years of building this business? When the chatbot replies with categories, do deep dives such as: Within marketing spend, what are the specific channels and tactics that I should use to reach the target segments that you named earlier?
For each target customer segment that you named earlier, what are some ideas for advertising copy and slogans that I can use? The chatbot tends to forget its own customer segment ideas, so if you liked them, you should spell them out again here.
What are the key performance indicators that I should use to track the forward progress of my business, as well as the KPIs for keeping track of risks?
What would the day-to-day operations of this business look like? Describe in detail 5 of the main workflows, such as [onboarding a new partner, having a customer set up a new service, or customer cancelling account].
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