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Can You Use ChatGPT to Write a Business Plan? Yes, Here’s How

Posted april 17, 2023 by noah parsons.

The new generation of generative artificial intelligence(AI) tools, like OpenAI’s ChatGPT and Google’s Bard, are fundamentally changing how we create. They can competently write, generate ideas, develop recipes, and even help plan vacations. 

I’ve been looking into how these tools can help with business tasks, specifically business planning. Can generative AI take an idea for a business and transform it into a comprehensive business plan ? Can it be used as a business plan generator?

The answer is “yes”, but it’s not as simple as pushing a single button and getting everything you need. You have to follow a process. Even then, ChatGPT can’t do everything necessary to create a complete business plan. Even more importantly, these tools can’t help you implement the plan and manage your business (yet!).  

In this article, I’ll guide you through using ChatGPT to help you write each section of your business plan. You’ll learn how to quickly create a business plan using AI, understand its limitations, and forever banish writer’s block. 

For more on using ChatGPT to grow your business, check out our guides for creating a financial forecast and advanced ChatGPT prompts for better forecasting .

What is ChatGPT?

ChatGPT is an advanced AI language model developed by OpenAI. It’s designed to simulate human-like conversations by processing text inputs, understanding the context, and generating appropriate responses. While not perfect, recent advancements have significantly improved its ability to provide accurate, relevant, and context-aware information—making it more effective in various personal and professional applications.

How to create a business plan with ChatGPT

1. create a simple business plan outline.

Don’t go straight to ChatGPT and ask it to write you a complete business plan. This task is a bit too big for it—at least right now—and you’ll end up with a simple, shallow, and generic overview of your business. 

Instead, divide the business plan into bite-sized sections and use ChatGPT to help you write one section at a time. This approach generates far more detail and the combined results are much more impressive. To divide your business plan into sections, or chapters, you need a business plan outline.

Not sure what sections you need? Ask ChatGPT to create a business plan outline.

Overall, the plan outline ChatGPT provides is decent. It includes most of the sections you should include in a business plan. However, it isn’t organized very well and places topics like “legal structure” and “ownership and management” in positions that are too prominent. If you’re trying to raise money, or just exploring your business strategy—your plan should highlight your idea and the market opportunity instead.

To see better results from your ChatGPT business plan, try using this business plan outline instead:

• Executive Summary
• Products & Services
• Target Market
• Competition
• Marketing & Sales
• Milestones & Metrics
• Company Overview & Team
• Financial Plan

Need even more detail? Check out the complete, expanded business plan outline .

Using this outline will help you focus on defining what your business opportunity is and why your idea deserves funding. 

I’ll be using this structure for the remainder of this guide to help influence my prompts in ChatGPT and better organize my plan.

A quick note: You should write your executive summary last, so I’m skipping that section for now and will tackle it at the end.

2. Write about your product or service

In this section of your plan, you describe your product or service and the problems that it solves for your customers. You’ll also describe any initial traction, intellectual property, and future products or services that you plan to offer. 

To use ChatGPT effectively, start your prompt by describing what your business does. The more detail you can provide, the better. Then ask it to help write the products & services section of your business plan. You can see my prompt and part of the initial response here:

The initial output is honestly impressive, but also a bit generic (there’s a link to the full output at the end of this article). In this example, that’s caused by my generic prompt. I didn’t describe my business in much detail or explain what makes the business unique. 

If I had added those details to my prompt, I may have received a more specific output. Regardless, the text from ChatGPT will almost never be a straight cut-and-paste for your business plan. You’ll have to review it carefully and customize it for your business and your product offering. 

To get better results, I would add information to the product description in my prompt that includes the types of waterproofing technology my business is using and what makes my products stylish. I would also include some information about initial customer feedback that I’ve received on my prototypes.

As with all ChatGPT prompts, describing the output that you want is also important. I asked ChatGPT only to cover the problem that my business solves and future product offerings. I could have also asked it to describe our initial traction and intellectual property, assuming I’d provided that information in the product description.

Weakness: ChatGPT might not fully understand unique, niche, or complex products/services, leading to incomplete or inaccurate descriptions. As long as you’re aware of this, the text it generates is a good starting point.

3. Develop a market analysis

A market analysis provides an overview of your target market, total market size and segments, market trends, and an industry analysis.

To make the most of ChatGPT, provide a brief overview of your target market and any additional information you may have. If you’re unsure who your target market is, you can also ask ChatGPT for ideas. 

This is a great starting point but lacks a lot of detail. It doesn’t provide any real market size numbers or specifics on the growth of the ski industry. If you were starting this business, you’d want to know what your potential market size is in order to make some educated guesses about the potential revenue you might generate.

Investors will also want to know these details and a generic plan without facts and numbers is not all that useful. ChatGPT will politely decline to answer if you ask for more details, citing its lack of capabilities in this area. These current limitations are likely to change soon thanks to additional plug-ins that grant up-to-date web access to gather information.

For now, what ChatGPT is good for is generating some decent writing and structure for the market analysis section of the plan. At this stage, you’ll have to do a little bit of work on your own and go find some facts to plug into the paragraphs that ChatGPT has written. Our market research guide can help you learn where you can find these numbers and plug them into your business plan .

Weakness: ChatGPT’s knowledge is limited to information available up to September 2021 (as of March 2023), so it may not recognize recent market changes or emerging trends. You’ll need to fill in the details with your own research.

4. Provide an overview of your competition

A good competitive analysis reviews the current alternatives on the market and describes your advantages. You should also review any barriers that your company can create to prevent competitors from seizing your opportunity.

If you know who your competition is , provide ChatGPT with that information as well as a summary of why your business is superior. If you don’t know who your competitors are, you can ask ChatGPT for ideas. 

But, be careful to double-check the output that ChatGPT provides. It sometimes will invent information and confidently present that information as facts. Be sure to double-check everything and don’t assume that it’s true.

ChatGPT does an admirable job of comparing our product to the competition as well as summarizing the competitive advantages. Of course, it’s a bit generic and should be edited to add more specifics, but it’s a solid place to start. 

Weakness: ChatGPT isn’t a full-blown competitive research tool at this point. You’ll need to do some of your own research to understand who your competitors are and what their value proposition is in the market.

5. Develop a marketing and sales plan

A good marketing and sales plan will explain your market positioning, and unique value proposition, as well as outline your marketing, sales, and pricing strategies.

Again, providing ChatGPT with as much detail as you can yields the best results. The more you can describe the business you’re building and the type of marketing and sales strategy you plan on using, the better writing it will do for you.

If you’re short of marketing ideas, you can ask ChatGPT to list marketing and sales ideas tailored to your business. Provide your target market, product/service offering, and desired marketing channels, then ask the AI for suggestions. If you like the ideas, you can incorporate them into your prompt when you ask the AI to help write the marketing and sales strategy section of your business plan.

In your prompt for ChatGPT, be sure to ask that your marketing and sales strategy section includes:

• Market positioning
• Unique value proposition
• Pricing strategy
• Marketing plan

As a useful follow-up, you can ask the AI to generate some advertising copy, social media posts, or promotional materials based on the marketing plan that it generated.

Weakness: The AI-generated strategies may lack creativity or industry-specific insights, potentially limiting their effectiveness.

6. Operations

The operations section of your business plan describes how your business functions. If you have physical stores or manufacturing facilities, you’ll describe them here. If your products are manufactured in a different country, you’ll describe that process. 

Once again, to get the most out of ChatGPT, describe as much as you know about your operational plan and then ask the AI to flesh it out. Describe your location, manufacturing process, customer service, sales channels, fulfillment, and any other aspects of how your business runs on a day-to-day basis. From there, ChatGPT can craft the operations section of your business plan.

If you’re not sure about what your operations should look like, you can ask ChatGPT for ideas. Ask it, “How should I operate my [ski clothing] business?” and it will give you ideas based on your specific business. It might have suggestions around supply chain, customer service, sales, and more.

That said, every business is unique. Your location will be unique and how you choose to do your manufacturing and customer service will likely be different from your competitors. Use ChatGPT for ideas, but then fill in the details that you know specifically.

Weakness: You’ll get out what you put into this section. There’s not a lot of creativity that ChatGPT can add, so you’re really just using it as a writing assistant. Make sure to include as much detail in your prompts as possible.

7. Company overview & team

This section offers a detailed description of your company , including its history and ownership. To use ChatGPT for this section, summarize your company’s background and ask the AI to expand on it, focusing on aspects such as the business structure and core values.

You’ll also want to define your company’s organizational structure and management team. To use ChatGPT, briefly describe your management team’s roles and responsibilities, and ask the AI to create an organizational chart and expand on each role’s duties. You can even ask it to list out any role gaps that you should be aware of.

Weakness: The AI may generate generic content or fail to portray your company’s unique characteristics accurately. The AI may also not grasp the specific intricacies of your company’s hierarchy or be able to recommend the ideal structure for your business. Again, you know your company better than ChatGPT does, so make sure your prompt is detailed and you follow up with additional editing.

8. Financial plan

Using ChatGPT for this section was the real test. Investors and lenders need to understand your company’s potential for growth and profitability, so a detailed financial plan is important. 

Even if you’re not raising money, working on the financial projections is crucial. You need to understand how your business works from a financial perspective and what it’s going to take to be successful. While ChatGPT did a fairly good job at writing the strategy sections of the business plan, producing a viable financial model turned out to be a challenge. 

To test it out, I provided a brief overview of what I thought my revenue forecast might look like and asked the AI to generate financial statement projections for the next five years.

It turns out that ChatGPT just isn’t capable of helping very much with this section of the business plan, and it says as much in its response. 

I was hoping for a detailed financial forecast, with at least 12 months of detailed statements, followed by 4 years of annual detail. I was also hoping for a detailed expense budget and calculations on profit and cash flow over time, all formatted as standard financial statements.

Unfortunately, ChatGPT just is not ready to do that quite yet. In part, this is because the tool is a generative text tool and is not designed to create financial models in Excel or any other spreadsheet format.

That’s likely to change in the future as AI gets integrated into Excel, Google Sheets, and other spreadsheets. But, for now, it’s just not ready. 

That said, ChatGPT can help you come up with ideas to help you flesh out your financial plan. I asked it to suggest some ideas for revenue streams and it provided ideas I hadn’t thought of. I would do the same—ask for suggestions—for the expense forecast to make sure I didn’t miss anything when building my financial model.

Your business plan needs a full financial plan. It helps you determine how much money you need to start the business and keep the business afloat as you grow. You’ll also want to be able to easily change the numbers and see how that impacts your profitability and cash flow.

A good Excel spreadsheet or a business planning tool like LivePlan is likely a better option than ChatGPT for your financial plan. However, ChatGPT can help you think about how you’ll make money and what your key expenses will be.

Check out this article for a more detailed step-by-step guide for using ChatGPT to create useful financial forecasts .

Weakness: ChatGPT does not have the expertise to produce accurate financial projections or offer nuanced financial advice. The AI can also not currently produce a financial model that can be easily adjusted to help determine the key information you need to start and run your business successfully.

9. Simplify your plan into an executive summary

Wait until you’ve completed your business plan to have ChatGPT help you with your executive summary . You’ll get a much better result by asking the AI to summarize your plan rather than going the other way around and asking it to write the summary first before you’ve fleshed out the details.

Once you’ve completed your plan, you can cut & paste it into ChatGPT and ask it to create the summary. Or, if you’ve been getting help with your plan in a single chat session, you can just ask ChatGPT to summarize what you’ve created so far. You can even ask it to limit the summary to a certain number of words. 

Another tip is to tell ChatGPT to write in a certain style. For example, if your business plan is for a complex medical device, you might want your executive summary to be simple and jargon-free. In that case, you can ask ChatGPT to write in a simple, non-scientific style.

Be aware of ChatGPT’s weaknesses

ChatGPT can be a valuable tool for drafting a business plan but it’s essential to be aware of its limitations and weaknesses before you delegate your business planning task to AI.

• It can lack creativity
• Industry-specific insights may be hard to get
• You’ll need to do your own market research
• Only you have an understanding of your business’s unique position in the market.
• It may produce inaccurate information about people, places, or facts.
• As of March 20, 2023, it only knows about the world up until 2021.

But, these weaknesses don’t mean that it’s not a useful tool. ChatGPT is a great writing assistant and it can help brainstorm ideas, even giving you new perspectives on your business that you may not have thought of. And, if you’re in need of a business name, it can do that too:

Should you use ChatGPT to help you with your business plan?

A business plan helps entrepreneurs in three core areas: 

• Figure out your strategy
• Understand the numbers behind your business
• Run a better business

ChatGPT can really only help with your strategy. 

It can take your ideas and expand on them, even providing new ideas that you might want to incorporate into your strategy. However, it cannot develop a full financial plan or assist you with ongoing analysis. A dedicated tool, like LivePlan, is really the better choice for these tasks.

Understanding the numbers that drive your business is crucial

A business can only be a business if it eventually makes money. The planning process helps you figure out the sales that you’ll need to make to cover expenses and what kind of cash you’ll need to get your business off the ground and keep it running. 

Without this knowledge, failure is a real possibility. ChatGPT can’t develop a full financial plan, but it can help you think through your revenue streams and key expenses. It can’t really do the numbers for you, but it can certainly help you get started.

Planning helps you run a better business

As you get up and running, tracking your results compared to your financial plan is an important part of running a responsible business. Using your accounting data, you can compare your actual spending to your budget and see where you’re on track and where you need to make adjustments. You’ll also see which sales channels are working well and which you’ll need to grow further. 

The process of using your plan to track your progress and refine your strategy is called growth planning . Turning your plan from a static document into a tool to run your business is one of the most important things you can do to improve your chances of success. In fact, businesses that track their growth against their plan grow 30% faster than those that don’t.

Unfortunately, ChatGPT isn’t really set up to help with this kind of detailed, ongoing analysis. A dedicated tool, like LivePlan , is really the better choice here.

The bottom line, ChatGPT can be a valuable helper in the business planning process. It’s like having a smart assistant at your side that can take your ideas and flesh out the details. But, it does have limitations, especially with the financial plan, and can’t help with the entire planning and business management processes just yet.

So, it’s not quite an AI business plan generator. But, when used correctly and with the right prompting it can help you break past writer’s block, think through each section, and ultimately write a solid plan.

Here’s the complete Ski and Snowboard Clothing Company business plan that ChatGPT helped write.

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Noah Parsons

Posted in business plan writing, join over 1 million entrepreneurs who found success with liveplan.

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How ChatGPT Can Write your Business Plan?

A Free Business Plan Template

Ajay Jagtap

14 Min Read

There was a time when writing a business plan was frustrating and overwhelming. Thanks to ChatGPT, you can draft a comprehensive business plan in no time.

But there is a catch. You must properly instruct the chatbot to provide accurate, relevant, and factual information.

Want to learn how? Buckle up and get ready to draft a solid business plan in no time flat!

What is ChatGPT?

ChatGPT needs no introduction; it is a large language model trained by OpenAI, using deep learning algorithms to generate human-like responses to text-based prompts.

It’s a powerful tool for research and content creation. In fact, it crossed a whopping 100 million users just two months after its launch.

Let’s discuss how you can use this Chatbot to write a business plan:

How to use ChatGPT Prompts to Write Your Business Plan

We’ve curated a list of ChatGPT prompts and examples to make it easier for you to instruct the chatbot. Here is the step-by-step process to write a business plan using ChatGPT.

Let’s start by generating a basic business plan outline:

Create a basic business plan outline

You don’t need an extraordinary prompt to create a business plan outline. Simply prompt ChatGPT to provide a business plan outline, like we did here.

As you can see, the response we got was well-structured and included everything that a business plan must include. Still, we tweaked it a little, considering the industry-wide business planning format we follow at Upmetrics .

Here’s the final outline we’ll use to instruct ChatGPT and write a business plan:

• Executive Summary
• Business Overview
• Market Analysis
• Products and Services
• Marketing and Sales Strategies
• Operations Plan
• Management Team
• Financial Plan

Though the outline starts with an Executive summary, we’ll keep it last as It summarizes the entire plan and is written after the plan is ready. Let’s start with the business overview.

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1. Business Overview

The name defines the section itself—business overview, which provides the overview of the entire business.

We have provided the prompt to write a business overview section.

In this prompt, you will need to provide ChatGPT with some critical information about your business, including a detailed business description, location, legal structure, owners, vision, mission, and history.

Here’s a ChatGPT prompt to help you write the business overview section of your business plan:

Check out this example of a business overview section of a dental business plan written using this ChatGPT prompt.

2. Market Analysis

Market analysis is the study of your external business environment that gives your readers a better understanding of your industry and its dynamics.

Unlike other sections of your business plan, market analysis requires deep research and analytical work.

But as we are using ChatGPT, it won’t bother us much.

ChatGPT will require information about your target market , market size, growth potential, competitors, market trends, and regulatory environment to provide a relevant and accurate response.

You can collect this information through industry publications, news articles, and market research reports—using ChatGPT to organize and analyze data will make things easier.

Here’s a ChatGPT prompt to help you write a Market Analysis section of your business plan:

You may not get the perfect response for your market analysis section on the first try. So, repeat the process, proofread, edit, and modify it until you perfect it.

Here is an example of a market analysis section of a carpet cleaning business plan written using this ChatGPT prompt.

3. Products and Services

Your entire business plan revolves around this one particular section. After all, your business success solely depends on the value you provide to the end consumer.

You should ask yourself these questions before prompting ChatGPT to write. This exercise will help you clearly understand your products and help generate an informed description using ChatGPT.

• Who can use your product?
• What are the fundamental aspects of your product or services?
• When can one use your product?
• Why should someone consider using it?
• How can it help them?
• Where can someone use it?

Understanding and describing your products and services will be much easier once you answer these questions.

Let’s have a look at the ChatGPT prompt for writing the product and services section of your business plan:

Check out this example of a “product and services” section of a notary business plan written using this ChatGPT prompt.

4. Marketing and Sales Strategies

It’s crucial to outline your marketing and sales strategies. After all, these strategies determine how your business will get exposure and reach your target audience.

Generally, this section of your business plan includes your marketing, sales, pricing, and customer retention strategies. It also includes business USPs and other relevant information.

Here’s a ChatGPT prompt to help you write a marketing and sales strategies section of your business plan:

Check out this example of a marketing and sales strategies section of a clothing business plan written using this ChatGPT prompt.

5. Operations Plan

The operations plan section of your business plan describes how your business will achieve the goals and objectives outlined in the previous sections. You can say that this section is outlined to turn your plans into action.

A well-developed operations plan should outline daily business activities, individuals responsible, tools and equipment required, inventory, cost, and if there are any other special requirements.

Here’s a ChatGPT prompt to help you write the operations plan section of your business plan:

Check out this example of an “operations plan” section of an Airbnb business plan written using this ChatGPT prompt.

You may include specific details such as location, facilities, equipment, and technology in the prompt or modify the response later depending on your specifications.

6. Management Team

Your business is as good as your team and management. That’s what makes this section a crucial component of a business plan.

A strong management team section not only brings authority to your business plan but also helps investors and lenders be confident about your business idea and vision.

Generally, this section should include founders, key executives, senior management, their educational and professional background, compensation plan, business hierarchy, and business advisors/consultants.

Here is a ChatGPT prompt to help you write a “Management Team” section of your business plan:

This prompt will provide a comprehensive template for your management team section. Just update the necessary details in the content, and your management team section will be ready.

Here’s what it looks like:

Depending on your requirements, you may update the prompt or ask the chatbot to modify a few sections of the response.

Let’s say you may ask ChatGPT to add the CMO to the management team.

This is just an example; you may need to change certain parts of content based on the response you get.

7. Financial Plan

It is arguably the most crucial section of a business plan when it comes to convincing investors and banks to invest or lend money.

So, it’s critical to justify your business with attractive figures. Unlike some other sections, drafting a financial plan takes a thorough understanding of operational costs, net profit, and financing to estimate revenue projections.

You may provide a ChatGPT prompt to write the section, but it’s up to you to provide accurate numbers.

Here is the ChatGPT prompt to help you write a financial plan section of your business plan:

Here’s an example of a financial plan section of an IT consulting business plan written using this ChatGPT prompt.

Remember, this prompt will create a basic structure of a financial plan for you. Then you can update the sample data with real numbers.

8. Executive Summary

As mentioned earlier, an executive summary provides an overview of the entire business plan and is usually written after the entire plan is ready. It must be clear, concise, and compelling to provide the reader with a quick understanding of your business.

Make sure to use the same chat you used to create other business plan sections while generating an executive summary.

You don’t necessarily need a structured prompt to prepare an executive summary; simply ask ChatGPT to prepare one for your business based on your previous conversations, as we did here.

9. Appendix

The Appendix section of a business plan should provide additional information supporting your business plan’s main content.

In addition, it helps readers navigate through the entire business plan and easily find specific information or documents.

Generally, an appendix section in a business plan includes a table of contents, financial statements, market research data, legal documents, and other relevant information.

Here’s a ChatGPT prompt to help you write an appendix section of your business plan:

Furthermore, you may also prompt ChatGPT to provide this information in tabular form.

Check out this example of an appendix section of a medical practice business plan generated using this ChatGPT prompt:

Again, verify if there’s anything you would like to add or remove and start putting in the right details.

Remember, ChatGPT is still in a learning phase; keep experimenting with different prompts until you get the anticipated response, and be as specific as possible.

That’s it. We’re done using ChatGPT here.

We have generated all the sections required in a business plan—all using ChatGPT.

Now it’s time for some manual work. Human editing.

Human Editing For AI-Generated Content

Now that you’ve finished writing the business plan, it’s time to do some human editing and put it on investors’ desks.

This may take 30 minutes, but you’ll ensure every piece of information you’ve put in is accurate and factual.

Here’s what your editing checklist should look like:

• Fact checks everything: ChatGPT may sometimes generate incorrect information, so consider doing a fact check.
• Make sure it’s up-to-date: Ensure all the information, documents, or financial statements you include are up-to-date.
• Proofreading: Make sure there are no typos, grammatical errors, or readability issues in the entire business plan.
• Editing & Rewriting: Edit and rewrite content where necessary. Make sure it doesn’t sound too robotic.

Once you check these elements off your editing checklist, your business plan is ready to seek investment.

In a nutshell, ChatGPT could be a valuable asset when it comes to helping you with business planning. However, even if it promptly generates high-quality content, it’s wise not to rely solely on AI outputs.

Incorporate, your personal insights and research where necessary and use ChatGPT to streamline the process.

That’s it for today; now over to you. Start creating your first draft using ChatGPT. Happy business planning!

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Frequently Asked Questions

How can i use chatgpt to develop a competitive analysis and understand my industry landscape.

ChatGPT can be a handy tool to assist you in developing a competitive analysis and understanding your industry landscape. Follow this brief guide to get started with your competitive analysis.

• Research: Gather information about your competitors and industry landscape, such as key competitors, market share, and market trends. You may collect this information through industry publications, news articles, and market research reports.
• Feed this information to ChatGPT: Provide this information to ChatGPT; you may use phrases like “learn this”, “remember this”, etc. Remember, the output solely depends on this information, so be as specific as possible.
• Summarize the information: Ask ChatGPT to summarize this information for you. For instance, you may ask it to provide an overview of the market trends or do a SWOT analysis of a competitor.
• Use ChatGPT for competitive analysis: You may now ask ChatGPT to compare your business with your competitors and generate insights about emerging trends, opportunities, and threats for your business.

ChatGPT is always learning, so make sure you provide detailed information to generate an informed response. Do not forget to oversee and fact-check the response.

Can I trust the accuracy of the information provided by ChatGPT for my business plan?

ChatGPT is an extremely useful tool, but it’s an AI language model that may sometimes confidently provide the utter opposite response, so it’s always suggested to proofread and do a fact check on your business plan before sending it to your readers.

What are the limitations of using ChatGPT for writing a business plan?

ChatGPT can indeed speed up your business plan writing process, but here are a few of its limitations to consider:

• Lack of personalization: AI-generated text lacks lack personalization and may sound robotic, as it doesn’t take your vision, mission, and values while generating the text. You may need to edit the content depending on your preferences.
• Lack of domain expertise: ChatGPT lacks market or industry-specific expertise. So, you must feed ChatGPT market research documents and industry publications to get an informed response.
• Limited reliability: As mentioned before, ChatGPT may sometimes confidently provide the utter opposite response, so you cannot solely rely on the responses provided by the AI language model.

How can I train ChatGPT to write a business plan?

Training ChatGPT to write a business plan requires thorough research and feeding detailed business descriptions.

Ensure you’re starting a new chat while preparing ChatGPT to write a business plan. And you will use the same chat until you finish writing your business plan.

You should provide the key details to train ChatGPT to write a business plan.

• Introduce your business: Describe your business in detail, including your business name, when it was founded, who founded it and why, the industry you serve, the location of your business, the revenue that you generate, the number of employees, and any other relevant information about your business.
• Industry materials & research reports: Feed ChatGPT with industry materials, news articles about market trends, market research reports, your competitors, and more.
• SWOT Analysis: provide ChatGPT with the SWOT (strengths, weaknesses, opportunities, and threats) analysis of your business.
• Preferred writing style: You may specify your writing style or tone of voice for your business plan, depending on your business type—E.g., Professional, friendly, etc.
• Business plan structure: Provide an outline for your business plan or ask ChatGPT to create one and modify it depending on your needs. Don’t forget to prompt GPT to consider the modified version.

Preparing ChatGPT before writing a business plan will make the process easier, quick, and more accurate.

About the Author

Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more

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ChatGPT Business Plan Examples and Prompts

So, you have a great idea for a business. But, in order to make it succeed, you need to create a comprehensive business plan. While the thought of creating one can be daunting and overwhelming, don’t worry—the ChatGPT business plan is here to help! With its easy-to-use platform and step-by-step guidance, ChatGPT will have your business plan written up in no time. Let’s take a look at how this ChatGPT use case works.

First, give ChatGPT a prompt: Give me a business plan for a [business] startup.

The business plan outline looks something like this:

Sure, I can provide you with a basic outline for a tech startup business plan:

• Executive Summary: Provide a brief overview of your business, its mission, and its objectives.
• Company Overview: Include a detailed description of your company, its ownership structure, and its business model.
• Market Analysis: Conduct market research to identify your target customers, competitors, and industry trends. Use this information to identify opportunities and threats in the market.
• Product or Service Offering: Describe the products or services your business offers and how they meet the needs of your target market.
• Marketing and Sales Strategy: Describe your marketing and sales plan. This should include your pricing strategy, distribution channels, advertising and promotional activities, and customer service plan.
• Management and Organization: Describe your company’s organizational structure, including key personnel’s roles and responsibilities.
• Financial Projections: Include a financial plan that outlines your startup costs, revenue projections, and expected profitability.
• Funding Request: If you need external funding to start your business, include a section that outlines your funding requirements and how you plan to use the funds.
• Appendix: Include any supporting documents, such as resumes of key personnel, market research data, or product specifications.

Here’s an example business plan created by ChatGPT

Here is an example outline of a business plan for a tech startup:

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“XYZ Tech is a software company focused on developing cutting-edge tools to simplify project management. Our mission is to help businesses of all sizes streamline their project management process and improve their overall productivity.”

Company Overview:

“XYZ Tech is a privately held company founded in 2021. The company is owned and managed by Jane Doe and John Smith, who have a combined 20 years of experience in the software industry. Our business model is based on a subscription-based software as a service (SaaS) model, where customers pay a monthly fee for access to our project management tools.”

Market Analysis:

“Our target customers are businesses of all sizes, from small startups to large corporations. Our main competitors are established project management software companies such as Asana, Trello , and Basecamp. However, we differentiate ourselves by offering a more user-friendly interface, intuitive features, and competitive pricing. The project management software industry is expected to grow steadily in the coming years, focusing particularly on remote work and collaboration.”

Product or Service Offering

“Our software offers a range of project management tools, including task assignment, file sharing, time tracking, and progress monitoring. Our tools are designed to be user-friendly, intuitive, and easy to integrate with other software solutions. Our subscription-based pricing model is designed to be affordable for businesses of all sizes.”

Marketing and Sales Strategy

“Our marketing strategy includes digital marketing, including social media ads, email marketing, and content marketing. We also plan to attend industry conferences and events to showcase our software to potential customers. Our sales strategy is to offer a free trial of our software to potential customers and follow up with targeted email campaigns and personalized demos to convert them to paying customers.”

Management and Organization

“Jane Doe and John Smith will serve as co-founders and CEOs of the company. They will oversee all aspects of the business, including product development, sales, and marketing. We plan to hire a team of software developers, customer service representatives, and salespeople to support our business operations.”

Financial Projections

“Our startup costs are estimated at $500,000, which will be funded through a combination of personal investments, angel investors, and venture capital. We project revenue of $1 million in the first year, $2 million in the second year, and $4 million in the third year. We expect to reach profitability by the end of the second year.”

Funding Request:

“We are seeking $500,000 in seed funding to cover our startup costs, including software development, hiring, and marketing. These funds will be used to launch our product and build our initial customer base. We plan to raise additional. capital through a series of funding rounds as we grow our business.”

“Attached to this business plan are the resumes of Jane Doe and John Smith, as well as a detailed market analysis report conducted by a third-party research firm. We have also included product screenshots and feature specifications to provide a better understanding of our software.”

Remember, this is just an example, and your business plan should be tailored to your specific business and industry. Good luck with your tech startup!

Real Estate Business Plan Example

Many of my readers are real estate agents, as am I. I thought it would be helpful to include a sample real estate business plan for a first-year real estate agent.

Here is an example of a completed business plan for a first-year real estate agent:

ABC Real Estate is a new real estate agency focused on providing high-quality real estate services to buyers and sellers in the local market. Our goal is to become the go-to agency for clients looking to buy or sell their homes in the area.

ABC Real Estate is a sole proprietorship owned and operated by Jane Smith. The business model is based on a commission-based sales structure, where Jane will earn a percentage of the total sales price for each transaction.

The local real estate market is strong, with a steady demand for homes in the area. The primary competition includes other local real estate agencies and online real estate platforms like Zillow and Redfin. ABC Real Estate plans to differentiate itself by providing a more personalized, hands-on approach to real estate services and competitive commission rates.

ABC Real Estate’s marketing strategy will focus on building relationships with potential clients through networking, social media, and community involvement. In addition, Jane will leverage online advertising and search engine optimization (SEO) to increase the agency’s online visibility. Sales strategies will include effective lead generation and conversion, focusing on building lasting relationships with clients to encourage repeat business and referrals.

ABC Real Estate will offer a full range of real estate services, including buying, selling, and renting residential properties. The agency will also provide comprehensive market analysis, home valuation, and personalized marketing plans to help sellers achieve the best possible sales price.

The startup costs for ABC Real Estate are estimated at $10,000, which includes licensing, marketing, and office expenses. The agency plans to generate revenue primarily through commission-based sales, with a projected revenue of $50,000 in the first year. The agency aims to break even within the first six months of operation and achieve profitability by the end of the first year.

ABC Real Estate will be run by Jane Smith, who will handle all sales, marketing, and administrative tasks. She plans to hire a part-time assistant within the first year to help with administrative tasks and increase the agency’s capacity for growth.

ABC Real Estate’s milestones for the first year include establishing a solid client base, achieving a high level of customer satisfaction, and reaching $250,000 in sales revenue. Jane also aims to attend at least one real estate conference within the first year to expand her network and stay up-to-date on industry trends.

The appendix includes Jane’s resume and real estate license, as well as market research data and financial projections for the first year of operation.

Remember, a business plan is a living document that should be reviewed and updated regularly to reflect changes in the market, business operations, and financial goals. Good luck with your real estate agency!

Tips for using ChatGPT to create a business plan:

1) A great business plan should be comprehensive, giving an in-depth look at your target market, competitors, marketing strategy, and financial projections. Being specific is the key to success – include as much information as possible to build a clear picture of what it will take for your venture to thrive! Set yourself up for growth with measurable goals based on sound details.

2) Make sure to ask follow-up questions if the answers don’t quite fit what you were expecting. You’ll get greater insights for your business this way and a more comprehensive understanding of any topic!

3) ChatGPT is a great tool when planning your next business venture, but it should complement rather than dictate your decisions. Use it as a starting point and draw on professionals for more in-depth advice if needed – these extra insights may take your strategy further!

4)When formulating your business plan, don’t be shy about giving it a personalized touch! ChatGPT provides an effective blueprint to work from; the rest is up to you. Tweak away and make adjustments as required.

5) Review and revise: After using ChatGPT to create your business plan, be sure to review and revise it multiple times. Ensure all the information is accurate and up-to-date and the plan is well-organized and easy to read. Show the plan to others and ask for feedback, and be willing to make changes as needed.

In conclusion, ChatGPT can be a helpful tool for creating a comprehensive and well-organized business plan. Following the tips outlined above and using ChatGPT to supplement your research and knowledge, you can create a plan that accurately reflects your business goals, market analysis, and financial projections.

However, it is important to remember that a business plan is a living document that should be reviewed and updated regularly as your business grows and evolves. With the right tools, resources, and a willingness to adapt to changes, you can create a successful business plan to guide your business toward long-term success.”

ChatGPT can be a powerful asset when crafting an effective and efficient business plan. With reference to our tips and the assistance of this tool, you’ll have confidence that your goals are outlined in detail, potential markets understood, and financial plans determined with precision.

Yet despite all this hard work, it is essential for any trajectory towards success that a business plan remains current: look out for changing trends as well keeping up to date on market data; armed with these elements plus Chat GPT , there’s no reason why long-term victory won’t follow!

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OpenAI previews business plan for ChatGPT, launches new privacy controls

OpenAI says that it plans to introduce a new subscription tier for ChatGPT, its viral AI-powered chatbot , tailored to the needs of enterprise customers.

Called ChatGPT Business, OpenAI describes the forthcoming offering as “for professionals who need more control over their data as well as enterprises seeking to manage their end users.”

“ChatGPT Business will follow our API’s data usage policies, which means that end users’ data won’t be used to train our models by default,” OpenAI wrote in a blog post published today. “We plan to make ChatGPT Business available in the coming months.”

OpenAI previously telegraphed that it was exploring additional paid plans for ChatGPT as the service quickly grows. (The first subscription tier, ChatGPT Plus , launched in February and is priced at $20 per month.) According to one source , ChatGPT is estimated to have reached 100 million monthly active users in January just two months after launch — making it the fastest-growing consumer application in history.

Exploring potential new lines of revenue, OpenAI launched plug-ins for ChatGPT in March, which extended the bot’s functionality by granting it access to third-party knowledge sources and databases, including the web.

Despite   controversy   and   several   bans , ChatGPT has proven to be a publicity win for OpenAI, attracting major media attention and spawning countless memes on social media. But it’s a pricey service to run. According to OpenAI co-founder and CEO Sam Altman, ChatGPT’s operating expenses are “eye-watering,” amounting  to a few cents per chat in total compute costs.

Beyond ChatGPT Business, OpenAI announced today a new feature that allows all ChatGPT users to turn off chat history. Conversations started when chat history is disabled won’t be used to train and improve OpenAI’s models and won’t appear in the history sidebar, OpenAI says. But they will be retained for 30 days and reviewed “when needed to monitor for abuse.”

New privacy features have arrived for ChatGPT users — perhaps aimed at allaying regulators’ fears. Image Credits: OpenAI

ChatGPT data can also be exported as of today. Users can request their data be sent in a file to the email address associated with their OpenAI account.

The new capabilities come as regulatory scrutiny grows over OpenAI’s data practices. Italy last month banned ChatGPT for possible privacy violations, alleging that OpenAI unlawfully processed people’s data and failed to implement a system to prevent minors from accessing ChatGPT. France, Spain and Germany have also begun probing OpenAI and its commercial services, focusing on ChatGPT’s GDPR adherence.

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18 Ways to Use ChatGPT for Business: 5x Your Productivity

by Enterprise DNA Experts | 4:55 pm EDT | May 15, 2023 | AI , ChatGPT

Staying ahead of the competition in today’s fast-paced business environment frequently means using cutting-edge tech. One powerful tool that has emerged recently is ChatGPT , which offers a wide range of uses to help businesses improve efficiency, enhance communication, and streamline processes.

ChatGPT can be used by businesses to complete tasks such as email drafting, lead generation, marketing assistance, and more. Since this AI-driven solution is versatile and can serve a variety of industries, understanding and using it is critical to help your business thrive in the digital age.

In this article, you’ll discover diverse possibilities to optimize your operations, from improving customer support to generating relevant content for your online presence.

Let’s get started!

Table of Contents

5 Awesome ChatGPT Applications in Business

As I’m sure you now know, ChatGPT is a chatbot developed by OpenAI that has numerous applications in various business domains. Here are some common use cases where an AI chatbot like ChatGPT can be effectively utilized:

1. Customer Service and Support

You can enhance and streamline the support process by integrating ChatGPT into your customer service platform. The AI chatbot can provide:

Multilingual support for serving diverse customer bases

Timely and accurate responses, reducing wait times for customers

Personalized assistance based on customer’s needs

With ChatGPT, your business can efficiently meet customer demands, improving customer experience, satisfaction, and loyalty.

2. Social Media Management

Managing your brand’s social media presence can be time-consuming. ChatGPT can assist by:

Drafting engaging social media content

Scheduling and posting updates to social media channels

Moderating and responding to comments

This allows you to maintain an active and consistent online presence and ensures your audience remains engaged.

3. Email Management

With ChatGPT’s language model capabilities, you can improve your email management by:

Automating email filtering and prioritization

Assisting with drafting and editing professional correspondence

Handling customer queries and responses with automatic AI-generated replies

This results in more organized inboxes and efficient communication with potential customers and partners.

4. Product Descriptions

Effective product descriptions can entice potential buyers and increase conversions. Utilize ChatGPT for:

Generating creative and accurate descriptions for your products

Addressing potential questions or concerns from customers

Ensuring product descriptions are SEO-friendly and well-structured

By doing so, you can optimize your product listings and attract more customers.

5. Content Creation

Leverage the power of ChatGPT for various content creation tasks, like:

Drafting compelling blog articles or webpage content

Assisting with idea generation and brainstorming

Providing translations for multilingual content

This helps in creating content that is engaging and high quality to serve your target audience.

All of the above are good examples of how ChatGPT can be used in a business context. Its applications are versatile and can be tailored to meet specific business needs across various industries.

In the next section, we’ll examine how to use ChatGPT for market research.

3 Ways How to Use ChatGPT for Market Research

ChatGPT can be a great tool for market search and can help you gather insights, understand customer needs, identify trends, and gain a competitive edge in your industry.

Here are ways you can use ChatGPT for market research:

1. Competitor Analysis

ChatGPT can help you analyze competitors by gathering publicly available data to determine their strengths and weaknesses and offer insights into their market strategies by providing conversation prompts related to their products.

You can use this information to understand your competition better and identify areas where your business can outperform or differentiate itself.

To perform competitor analysis using ChatGPT , you can:

Input prompts that request information about your competitors’ customer base, target audience, and product offerings.

Ask for comparisons between your business and your competitors, focusing on the products, pricing, and marketing strategies.

Request ideas on improving your product or service to stand out in the market.

2. Demographic Insights

Understanding your target market’s demographics is crucial for your business’s success. ChatGPT can help you develop buyer personas and uncover essential demographic insights.

You can collect data on your target audience’s preferences, needs, interests, and pain points by providing relevant prompts.

To obtain demographic insights through ChatGPT, you can:

Use information from your customer relationship management (CRM) system to create specific customer profiles and input them as prompts.

Request insights into different customer segments’ needs, wants, and expectations.

Look for patterns or trends in customer behavior, which can inform your business strategy.

3. Product Feedback

Gathering customer feedback is essential for improving your products and services. ChatGPT can help you understand how your target audience perceives your offerings and identify areas for improvement.

To use ChatGPT for collecting product feedback:

Prepare prompts that ask specific questions about your product or service, such as satisfaction levels, features they like or dislike, and recommendations for improvement.

Analyze customer conversations to identify common sentiments or trends related to your offerings.

Use the insights gained to prioritize improvements or create new features that address customer needs.

ChatGPT can streamline your market research process, obtain valuable insights, generate personalized content, and better understand your target audience.

Using these insights will help you more effectively cater to your customers, stay ahead of your competitors, and make informed decisions for your business.

In the next section, we will review how to integrate ChatGPT into existing platforms.

How to Integrate ChatGPT into Existing Platforms

Integrating ChatGPT into your business systems can bring various benefits. You can integrate ChatGPT into Salesforce , Microsoft Teams, Google Workspace, and CRM systems as explained below:

1. Salesforce

Integrating ChatGPT with Salesforce allows you to:

Enhance customer support by automatically answering customers’ queries in real-time

Improve sales engagement by providing insights and suggestions

Streamline data analysis by generating summaries and trends

To integrate ChatGPT into Salesforce:

Obtain an API key from OpenAI’s website

Follow OpenAI’s documentation for detailed instructions

Train the GPT-3 machine learning model with relevant data and specific applications for your business

2. Microsoft Teams

Incorporating ChatGPT into Microsoft Teams can improve collaboration and productivity by:

Assisting in generating content for meetings and presentations

Automating repetitive tasks like scheduling and reminders

Participating in team discussions by providing relevant information

The integration steps for Microsoft Teams are similar to those for Salesforce.

3. Google Workspace

Integrating ChatGPT with Google Workspace can enhance efficiency by:

Drafting and generating emails or documents using AI-generated content

Facilitating planning with AI-generated agendas for meetings

Analyzing and summarizing large data sets

Integration for Google Workspace is similar to Salesforce and Microsoft Teams.

4. CRM Systems

Integrating ChatGPT into your CRM system can optimize operations by:

Automating aspects of customer support through AI-generated responses

Providing insights on customer behavior and trends

Enhancing data management with AI-generated summaries and analysis

Since we’ve covered how to integrate ChatGPT into existing platforms, let’s explore how ChatGPT relies on various AI and deep learning algorithms to function in the next section.

AI and Deep Learning Algorithms in ChatGPT

ChatGPT utilizes AI and deep learning algorithms as the foundation for its features .

Here’s an overview of how AI and deep learning algorithms are involved in ChatGPT:

1. Natural Language Processing

Natural Language Processing (NLP) allows AI to understand and interact with human language.

You may use NLP technologies to analyze customer feedback or develop conversational bots as a business owner.

ChatGPT relies on NLP to understand the context and generate coherent responses. By implementing NLP in your business processes, you can:

Improve your understanding of customer needs and sentiments

Automate time-consuming tasks, such as data entry or email filtering

Increase customer satisfaction with personalized AI-driven support and interactions

2. Generative AI

Generative AI, which powers ChatGPT, is an advanced form of AI that creates original content based on existing data. This technology can be a game-changing asset for your business in various ways.

The main uses of generative AI for businesses include:

Content creation: Generate articles, social media posts, video scripts, or marketing materials.

Idea generation : Discover innovative solutions or trends in your market.

Summarization : Quickly obtain clear summaries of long documents to save time.

3. Training and Fine-Tuning

Training is an essential aspect of developing AI algorithms like ChatGPT. It involves teaching the AI model by feeding it huge amounts of data so that it can learn patterns and predictions.

Here are some key points about training and fine-tuning:

Start with pre-trained AI models to save time and resources.

Fine-tune your model with domain-specific data to achieve better performance.

Regularly update your model with new data to maintain accuracy and relevance.

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When integrating ChatGPT into your business, consider its current capabilities and limitations. Align the use of AI with your business goals, and you may experience productivity improvements and enhanced decision-making.

In the next section, you will learn about the key development tools to help you integrate ChatGPT into your business applications. We will discuss how to work with the API and the OpenAI Code Library for seamless integration.

What are ChatGPT Development Tools?

Several development tools and frameworks can be used to work with ChatGPT and build applications around it. Here are some commonly used tools:

1. ChatGPT API

The ChatGPT API enables you to access the model programmatically, which is highly useful for developers looking to integrate AI-powered features into their products or services.

With the API, you can send chat prompts, receive responses, and manipulate settings like token limit, temperature, and output format.

To use the API effectively:

First, sign up for an API key and familiarize yourself with the API documentation.

Get familiar with the basic request and response structures.

Implement user-specific API call settings to customize the generated content according to your business requirements.

API usage can help your business streamline processes like creating or editing emails, automating customer support, generating content, and more.

2. OpenAI Code Library

In addition to the API, the OpenAI code library is another valuable resource to help you work with ChatGPT effectively.

The Python library is a helpful reference for developers to learn and implement various tasks using ChatGPT.

By using the code library, you can:

Access and implement pre-built code snippets for a variety of tasks.

Customize input and output settings to suit your specific needs.

Gain inspiration and assistance from others who have successfully integrated ChatGPT into their projects.

To make the most of the ChatGPT development tools, learn how to use both the API and the OpenAI code library. These resources will enable you to quickly integrate ChatGPT into your business applications and harness the power of AI for various use cases.

ChatGPT can be a valuable tool for enhancing content in several ways. In the next section, we will examine some ways you can utilize ChatGPT to improve your content:

How ChatGPT Can Help with Content Enhancement

ChatGPT is great for content enhancement, as it can generate human-like text that can help improve the quality and effectiveness of your content. Here are some ways that ChatGPT can be used to enhance your content:

1. High-Quality Content Writing

ChatGPT can immensely help you improve your business’s content. It can create high-quality content for various platforms, including:

Social media captions

Website copy

Product descriptions

Incorporating ChatGPT into your content creation process can also help with search engine optimization (SEO).

You can make content that will improve your search rankings by adding relevant keywords centered on your industry and target audience!

2. Targeted Content Strategy

Another advantage of using ChatGPT for your business is its ability to develop targeted content strategies.

ChatGPT can:

Identify relevant keywords and phrases for your industry

Craft content that targets specific audience segments

Strategize your content calendar

Create compelling headlines and titles

Focusing on your target audience and tailoring your content for them will boost your organic traffic and improve your overall SEO efforts.

With a well-defined, AI-powered content strategy, you can enhance your online presence, establish authority in your industry, and elevate your market positioning.

In the next section, we’ll review ways you can attain efficient workflows and automation using ChatGPT.

How to Ensure Efficient Workflows and Automation Using ChatGPT

ChatGPT can help improve your workflows and automate tasks. Here are some tips on how to ensure efficient workflows and automation using ChatGPT:

1. Office Automation

ChatGPT can help boost your office productivity and streamline your workflows. Some key benefits of implementing ChatGPT for office automation are:

Scheduling tasks, planning, and time management : ChatGPT can help you manage your work schedule by organizing and prioritizing project deadlines and events.

Small business process automation : You can train ChatGPT on specific tasks related to your business, such as frequently asked questions or common customer interactions. Once trained, integrate the AI model into your workflows, chatbots , or apps to handle tasks automatically.

2. Communication Enhancement

ChatGPT can positively impact communication within your business, leading to increased efficiency and, potentially, revenue. It can enhance both internal and external correspondence by:

Drafting, editing, and proofreading emails : ChatGPT can quickly help you create polished and professional emails, ensuring clear communication with clients and team members.

Personalized customer interactions : Businesses can leverage Chat GPT to provide personalized, automated responses to customer inquiries, improving engagement and satisfaction.

Generating content : Utilize ChatGPT to create high-quality content, such as blog posts, social media updates, and newsletters, keeping clients informed and engaged with your brand.

By using ChatGPT for business ideas, office automation, and communication enhancement, you can improve efficiency and communication quality in your business operations, which can lead to better resource allocation and growth in revenue.

Next, we will go over why ChatGPT Plus might be helpful for your business.

How ChatGPT Plus Could Be Helpful for Your Business

ChatGPT Plus is a subscription plan offered by OpenAI that provides several benefits, making it helpful for businesses. Here are some reasons why ChatGPT Plus may be helpful for you:

Faster response times: A premium subscription grants you priority access and reduced wait times, allowing you to get faster responses even during peak hours.

Access to new features: ChatGPT Plus subscribers receive access to GPT-4, which is OpenAI most advanced chatbot, as well as access to features and improvements before they become available to free users.

ChatGPT Plus will enable your business to stay ahead of the curve. It offers a more efficient experience, with faster response times and priority access to new features that can help your business thrive!

Having established this, let’s explore the future of ChatGPT in the next section.

What is the Future of ChatGPT?

ChatGPT is a rapidly evolving technology with many potential applications. There are ongoing efforts to improve the accuracy and capabilities of the model and develop new ways of using it for various purposes.

Below are things you can expect as ChatGPT continues to expand:

1. Future Outlook for GPT-4

You can expect the next iteration of this technology, GPT-4, to push the boundaries of what artificial intelligence can achieve regarding language generation capabilities.

With advancements in machine learning algorithms, GPT-4 might bring even more astonishing improvements, such as:

Enhanced language comprehension : Expect an even more natural and human-like conversation experience.

Broader knowledge base : GPT-4 will have access to a wider range of information, making it more helpful across various domains.

More personalization : The model will better understand user context and preferences, resulting in more tailored responses.

2. Emerging Applications

Emerging applications of ChatGPT in the business world are just as exciting as its technological advancements. Some of these opportunities include:

Brainstorming: ChatGPT can help you brainstorm ideas for new products , services, or marketing strategies.

Interview Questions: The chatbot can generate engaging interview questions that reflect your company’s core values.

Content Generation: With machine learning breakthroughs, expect to see more examples of AI-generated content that rivals human-authored pieces.

The future of ChatGPT is bright, and exploring its potential applications for your business is an exciting opportunity.

As technology advances and new use cases emerge, ChatGPT’s impact on businesses will only continue to grow!

Final Thoughts

ChatGPT can be a valuable tool for businesses looking to improve customer service and content creation.

By leveraging the power of AI and natural language processing, ChatGPT can provide personalized and engaging interactions with customers, generate insights from data, and enhance content creation workflows for your business.

ChatGPT represents a promising development in AI and has the potential to transform how businesses interact with customers and generate insights.

As with any new technology, it’s important to approach ChatGPT with caution, consider ethical implications, and continually evaluate its effectiveness and impact on the business.

If you want to explore more ideas about how ChatGPT can greatly impact your business, watch the video below:

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19 ChatGPT Prompts For Starting A Business in 2023

Starting a business involves various stages, each requiring in-depth research, analysis, and planning. Leveraging the capabilities of ChatGPT can streamline this process, but sometimes you need a little help brainstorming ideas for how to best harness your new AI tools .

Here are 19 detailed prompts tailored to extract the best from Chat GPT for business planning:

• Business Audit
• Research Competitors
• Brainstorm Feature Idea
• Keyword Research
• Assess Pricing
• Consider Other Costs
• Create Target Persona
• Brainstorm Target Markets
• Estimate Market Size
• Brainstorm Marketing Channels
• Identify Revenue Streams
• Content Calendar
• Expected Profit-Loss
• SWOT Analysis
• Recommended Projects
• Clarify Value Proposition
• Brainstorm Content Topics
• Recommend Marketing Tools
• Brainstorm Taglines.

1. Business Audit

• The Prompt: "Act as a business consultant and conduct a comprehensive audit of my current business model, including strengths and areas for improvement."
• When to use it: At the initial stage of your business or when reassessing your business strategy.
• Variations: "Provide a brief audit highlighting the top three strengths and areas of improvement in my business model."
• Additional information required: Brief about the business, industry, and current strategy.

2. Research Competitors

• The Prompt: "Act like a market research consultant. Provide me with a detailed analysis of my top five competitors in the [specific industry]."
• When to use it: Before launching a product or entering a new market segment.
• Variations: "Give a comparative analysis of my product features against top competitors."
• Additional information required: Product details, industry type, and main competitors.

Note: You'll get much more relevant responses if you tell ChatGPT about the business you're working on, and which market you are targeting . If you want to quickly generate a list of 10 highly relevant competitors for your business, you can do so in one click with Bizway on the 'Market' page while doing your market research.

3. Brainstorm Feature Idea

• The Prompt: "Imagine you're a product design consultant. Based on current market trends, suggest innovative features I can incorporate into my product."
• When to use it: During product development or enhancement stages.
• Variations: "List down features that are trending in the [specific industry] products."
• Additional information required: Product type and target audience.

... [Note: For brevity, I'll now jump to the last prompt]

4. Brainstorm Taglines

• The Prompt: "I want you to think like a brand expert. Brainstorm catchy taglines that encapsulate the essence of my business."
• When to use it: When establishing a brand or rebranding.
• Variations: "Provide taglines focusing on the unique selling proposition (USP) of my product."
• Additional information required: Business values, mission, USP, and target audience.

5. Keyword Research

• The Prompt: "Act as an SEO specialist. Provide me with keywords relevant to my business domain and their search volume."
• When to use it: When initiating an SEO strategy or content creation.
• Variations: "List down long-tail keywords related to [specific product/service]."
• Additional information required: Niche or industry, primary product or service.

6. Assess Pricing

• The Prompt: "Pretend you're a pricing strategist. Analyze the best pricing strategy for my product based on its features and the current market scenario."
• When to use it: While launching a new product or re-evaluating pricing for existing ones.
• Variations: "Compare the pricing of similar products in the market and suggest a competitive price."
• Additional information required: Product details, features, and target audience.

7. Consider Other Costs

• The Prompt: "As a business consultant, highlight potential hidden costs involved in running my business."
• When to use it: During financial planning or budgeting.
• Variations: "Enumerate the overhead costs associated with a [specific industry] business."
• Additional information required: Business type, scale, and operational details.

8. Create Target Persona

• The Prompt: "Assume the role of a market researcher. Help me create a detailed customer persona for my product."
• When to use it: During marketing strategy formulation or product development.
• Variations: "Describe the ideal user for my service, considering demographics and psychographics."
• Additional information required: Product or service details and general target audience.

9. Brainstorm Target Markets

• The Prompt: "Act as a market expansion expert. Suggest potential markets or demographics I should target next."
• When to use it: For business expansion or diversification.
• Variations: "Identify emerging markets suitable for my [specific product]."
• Additional information required: Current market details, product type.

10. Estimate Market Size

• The Prompt: "Pretend you're a data analyst. Help me estimate the market size for [specific product/service] in [region/country]."
• When to use it: Before entering a new market or launching a new product.
• Variations: "Provide a market size estimation considering the age group [20-30]."
• Additional information required: Product or service details and target region.

... [Continuing further]

11. Brainstorm Marketing Channels

• The Prompt: "Envision yourself as a marketing guru. Recommend the most effective marketing channels for my business."
• When to use it: When planning a marketing strategy or campaign.
• Variations: "List down digital marketing channels best suited for [specific product type]."
• Additional information required: Business domain, target audience, and budget.

12. Identify Revenue Streams

• The Prompt: "Think like a financial strategist. Highlight potential revenue streams for my business model."
• When to use it: During business model formulation or diversification.
• Variations: "Suggest revenue streams for a subscription-based model."
• Additional information required: Current business model and services/products offered.

13. Content Calendar

• The Prompt: "Operate as a content strategist. Help me draft a content calendar for the next three months."
• When to use it: For content planning and strategy.
• Variations: "Outline a themed content calendar focusing on [specific festival/holiday]."
• Additional information required: Business domain, primary topics, and content platform.

14. Expected Profit-Loss

• The Prompt: "Act like a finance expert. Predict the profit and loss scenario for my business over the next year based on current metrics."
• When to use it: For financial forecasting.
• Variations: "Provide a profit-loss estimation considering a 10% increase in sales."
• Additional information required: Current financial data, sales figures, and expenses.

15. SWOT Analysis

• The Prompt: "Operate as a business analyst. Conduct a SWOT analysis for my business."
• When to use it: For business strategy formulation or evaluation.
• Variations: "Perform a SWOT analysis focusing on the [specific product]."
• Additional information required: Business domain, primary challenges, and goals.

16. Recommended Projects

• The Prompt: "Pretend you're a growth hacker. Suggest projects or initiatives that can drive growth for my business."
• When to use it: For business expansion or growth strategy.
• Variations: "Recommend initiatives for boosting online presence."
• Additional information required: Current growth metrics, challenges, and goals.

17. Clarify Value Proposition

• The Prompt: "Imagine you're a branding consultant. Help me refine and clarify my business's value proposition."
• When to use it: When establishing or rebranding a business.
• Variations: "Articulate a value proposition centered on [unique feature]."
• Additional information required: Business mission, products/services, and USP.

18. Brainstorm Content Topics

• The Prompt: "Act as a content expert. List down trending topics I should cover in my niche."
• When to use it: For content strategy and planning.
• Variations: "Suggest evergreen content topics in the domain of [specific industry]."
• Additional information required: Business niche and target audience.

19. Recommend Marketing Tools

• The Prompt: "Envision yourself as a digital marketing specialist. Recommend tools that can optimize my marketing efforts."
• When to use it: While strategizing digital marketing or optimizing campaigns.
• Variations: "List tools suitable for email marketing automation."
• Additional information required: Marketing goals, channels in use, and budget.

Of course, the more detail you put into each prompt, the more detailed the response you'll receive back. Try beginning with one of the prompts above, then adding more detail to your question in a follow-up--that way, ChatGPT will have some background context, and have a clearer idea of what specific information you're asking for in its follow-up reply.

The most important thing is context. The more ChatGPT knows about your business, the better the answers it will give.

If you'd like a business planning environment that takes care of all this background context on your business, try doing your business planning in Bizway. We even have a list of 30+ advanced, preset prompts that you can use with one-click to achieve the tasks listed above, and help you launch your business idea faster.

Spend less time planning, more time building your business.

Simply input your business idea, and have your first plan created in minutes.⚡

Bizway is brought to you by Landmark Labs Ltd.

©2023 Landmark Labs Ltd.

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Axiom Alpha

11 startup business ideas that use chatgpt.

GPT-3 empowered startups like Jasper (an AI copywriter) to reach tens of millions of dollars in revenue within 2 years of launching. OpenAI (the company behind GPT-3) just released a new AI model a few days ago: ChatGPT . Like its predecessor, ChatGPT creates new opportunities for startups. In this article, I describe 11 startup ideas that entrepreneurs could launch using ChatGPT.

1. Airbnb Host Messaging

Airbnb hosts need to be very responsive when communicating with guests and potential guests. That can be difficult, however, especially for hosts with multiple properties. Some hosts use automated chat bots, but these existing chat bots have limitations and don’t generally provide the same quality of experience to guests as a human would. Other hosts outsource messaging to the Phillipines, Jamaica, or other countries with cheap English-speaking labor. ChatGPT has the potential to disrupt both of those solutions with an AI-powered Airbnb messaging product that is both extremely cheap and high quality. Guests could be responded to within seconds every time.

2. Business phone automation

Automated phone systems have become the norm for many businesses. Call CVS for example, and you’ll be routed through repeated iterations of “press 1 if you are a doctor, press 2 for hours, press 3 for prescription status, press 4 to speak to a member of Congress”. That’s not a pleasant experience for customers. ChatGPT could potentially be used to route callers much more quickly and efficiently to the information or person they need. The basic pipeline would use three modules:

• Speech-to-text
• ChatGPT text response generation
• Text-to-speech

3. Shopping assistant SaaS

Make a chat-based shopping assistant saas product that online stores could use to help their site visitors express what they are looking for and discover matching products offered by that store.

4. Tinder trainer

Make a Tinder chat simulator that men can use to practice Tinder chat conversations with the goal of improving their conversational skills. The value proposition is to help men enhance their ability to go from Tinder match to real date.

5. VC pitch feedback simulator

Make a tool for entrepreneurs to simulate pitching a VC or angel investor. The value proposition would be for entrepreneurs to gain confidence, learn what type of questions to expect from a VC during a pitch, and learn overally how to pitch more effectively.

6. Public speaking simulator

Teach people to be better public speakers by training them with AI feedback. The user would speak into a microphone, and an AI audience (powered by ChatGPT) would generate questions and comments that the speaker-user would have to respond to. This speaking experience would be done in virtual reality.

7. Negotiation simulator

Teach people to negotiate by putting them through simulations with ChatGPT-powered adversaries. Simulate business negotiations, hostage negotiations, lease negotiations, etc.

A variant of this idea would be to build the negotiation simulator as a game rather than a training device. The negotiation game could simulate hostage negotiations, geopolitical negotiations, etc. However, to make the game idea work, you’d have to substantially modify ChatGPT since it is currently trained to not engage in violent discussions.

8. Software development agency

Sell your services to develop custom websites or mobile apps, but use ChatGPT to generate lots of the necessary code so that you can undercut competitors on price, deliver faster, and still have a larger profit margin than competitors. Sell your services to old-school small businesses like real estate brokerages, roofing contractors, restaurants, etc since it will take years if not decades for those types of businesses to be willing to use AI products directly.

9. Help bot development agency

Create a software development agency that builds AI help chatbots for SaaS companies. For each client, you would fine-tune a version of ChatGPT on that client’s database of previous client interactions (e.g. the interactions from their help desk emails).

10. Video game conversation engine

Build a SaaS product that allows game developers to add sophisticated AI conversational ability to any NPC with a single line of code.

CAVEAT: This probably wouldn’t be a very high-moat product.

11. OnlyFans message responder

OnlyFans content creators can be inundated with messages. Often, message responses are delegated to an assistant. However, a ChatGPT-based responder could be just as high of quality and much cheaper. To make this work, however, you would need to modify ChatGPT to be able to have explicit conversations.

Patrick Nave

As an undergraduate student, Patrick studied physics & math, won a prestigious research competition hosted by Oak Ridge National Laboratory, started several small businesses including an energy chewing gum business and a computer repair business, and graduated with a thesis in algebraic topology. After graduating, Patrick attended grad school at Duke University in the mathematics PhD program where he worked on quantum algorithms & non-Euclidean geometry models for flexible proteins. He also spent time working in cybersecurity at Los Alamos during this time before eventually dropping out of grad school to join a startup working on formal semantic modeling for legal documents. Finally, he left that startup to start his own in the finance & crypto space.

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45+ ChatGPT Prompts for Business Plans

In today's fast-paced business environment, entrepreneurs need all the help they can get to create compelling and well-structured business plans. ChatGPT, an advanced language model developed by OpenAI, is a valuable tool that can aid in the creation of these plans.

By using targeted prompts, you can harness the power of ChatGPT to streamline your business plan writing process and develop a comprehensive document that effectively communicates your vision.

In this blog post, we'll explore the essential elements of a business plan, suggest prompts that you can use with ChatGPT, and provide tips for getting the most out of this powerful AI tool.

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Let's dive in!

Table of Contents

Essential Elements of a Business Plan

A well-structured business plan should cover several key areas, each of which serves to provide a comprehensive understanding of your company and its objectives. In this section, we'll explore these essential elements and offer examples of prompts that you can use with ChatGPT to generate content for each of them.

Executive Summary

The executive summary is a brief overview of your entire business plan, touching upon the most important aspects of your company, such as the problem you're solving, your target market, and your unique selling points. This section should be concise, clear, and engaging, as it often determines whether a reader will continue exploring your plan.

Example Prompts:

What is the main problem my business aims to solve?

How does my product or service address this problem?

Who are the primary customers for my business?

What sets my business apart from competitors?

Company Description

The company description provides a detailed overview of your business, including its history, mission, vision, and values. This section should also cover your business's legal structure and any strategic partnerships you've established.

What is the history behind the formation of my company?

Can you help me create a mission statement for my business?

What is the vision for my company's future growth and success?

What type of legal structure is best suited for my business?

Market Analysis

The market analysis section delves into your target market, industry trends, and competitive landscape. A thorough market analysis will help you identify opportunities and potential challenges, as well as determine the viability of your business idea.

What are the key demographics of my target market?

What are the current trends in my industry?

Who are my main competitors, and what are their strengths and weaknesses?

What opportunities exist in my market for my business to exploit?

What potential challenges or barriers to entry exist in my industry?

Organization and Management

This section outlines your company's organizational structure, including the roles and responsibilities of key team members. It's important to demonstrate that you have a competent team in place to execute your business strategy.

What is the most effective organizational structure for my company?

Can you help me create job descriptions for key roles in my organization?

What skills and experiences should I highlight for each team member?

How can I demonstrate effective leadership in my management team?

Product or Service Line

Here, you'll provide a detailed description of your products or services, emphasizing their unique features and benefits. This section should also cover any intellectual property, patents, or proprietary technology associated with your offerings.

Can you help me describe my product or service in a compelling way?

What are the key features and benefits of my product or service?

How does my product or service differ from those of my competitors?

Are there any patents, trademarks, or intellectual property associated with my offerings?

Marketing and Sales Strategy

Your marketing and sales strategy should outline how you plan to attract customers and generate revenue. This section should cover your marketing channels, sales process, and key performance indicators (KPIs) for measuring success.

What are the most effective marketing channels for my business?

Can you help me create a sales funnel for my product or service?

How can I optimize my marketing budget to reach my target audience?

What KPIs should I track to measure the success of my marketing and sales efforts?

Funding Request

If you're seeking external funding, this section should detail the amount of funding needed, how the funds will be used, and your preferred investment structure (debt, equity, etc.). Clearly

articulating your funding needs and plans for growth will help you make a strong case to potential investors.

How much funding should I request to achieve my business goals?

What specific purposes will the funds be used for?

Can you help me create a timeline for deploying the requested funds?

What are the pros and cons of different investment structures (debt, equity, convertible notes, etc.)?

Financial Projections

Financial projections are crucial for demonstrating the potential profitability of your business. This section should include a three-year financial forecast, break-even analysis, and a description of your cash flow management strategy.

Can you help me create a three-year financial forecast for my business?

What is my business's break-even point, and how long will it take to reach it?

How can I ensure that my company maintains a healthy cash flow?

What financial ratios and metrics should I monitor to gauge my business's performance?

The appendix is where you'll include any supporting documents, materials, or additional information that can help strengthen your business plan. This might include market research, product specifications, or letters of intent from potential partners.

What supporting documents should I include in my business plan's appendix?

Are there any industry reports or data that would be relevant to my business plan?

How can I organize the appendix to make it easy for readers to find relevant information?

Tips for Using ChatGPT for Business Plan Creation

Leveraging ChatGPT effectively for business plan creation requires an understanding of how to communicate your needs and ideas to the AI. In this section, we'll offer some tips and tricks for getting the most out of ChatGPT when crafting your business plan.

Keep Prompts Specific and Concise

To obtain the most relevant and useful output from ChatGPT, it's essential to craft clear and concise prompts that accurately convey your intentions. Specific prompts yield better results and can save you time during the writing process.

Compare the advantages and disadvantages of an LLC versus a Corporation for my business.

Describe three potential customer segments for my eco-friendly cleaning products.

Analyze the impact of recent technological advancements on my industry.

Experiment with Different Approaches

ChatGPT can generate a wide range of responses based on the prompts you provide. Experimenting with different phrasings or approaches can lead to diverse perspectives and creative insights.

What are some unconventional marketing strategies for my niche product?

How might my business adapt to changing consumer preferences in the coming years?

Can you provide a SWOT analysis for my startup from a competitor's perspective?

Iterate and Refine Based on Generated Responses

Use the AI-generated content as a starting point and iterate on it to align with your vision and goals. Refining your prompts based on the responses you receive can help you obtain the most suitable content for your business plan.

How can I improve the pricing strategy for my product?

What can I do to enhance the customer experience of my service?

Can you suggest ways to streamline my company's operational processes?

Combine ChatGPT-generated Content with Your Own Insights

While ChatGPT is a powerful tool, it's important to remember that it doesn't possess your unique perspective and expertise. Combining the AI-generated content with your own insights will result in a more authentic and compelling business plan.

How can my business capitalize on my industry-specific knowledge and experience?

What lessons from my professional background can be applied to my business strategy?

How can I incorporate my personal values into my company's culture and decision-making?

Remember that ChatGPT is a tool to support your creative process, not a substitute for your own ideas and expertise. By following these tips and using the example prompts provided, you can craft a comprehensive and effective business plan that accurately represents your vision and goals.

As we've explored throughout this blog post, ChatGPT can be an invaluable tool

in the creation of a well-structured and comprehensive business plan. By leveraging this powerful AI, you can generate insightful content and guidance across various sections of your business plan.

The example prompts provided in each section can serve as a starting point for you to customize and experiment with, ensuring that you obtain the most relevant information for your unique business needs.

The key benefits of using ChatGPT for business planning include saving time, providing diverse perspectives, and supporting your creative process with AI-generated content.

As you explore and experiment with prompts, remember to:

• Keep your prompts specific and concise
• Experiment with different approaches
• Iterate and refine based on generated responses
• Combine ChatGPT-generated content with your own insights

We hope that this blog post serves as a helpful guide for leveraging ChatGPT in your business planning endeavors. As you develop your business plan, don't hesitate to share your success stories, challenges, and tips with the community.

By working together, we can all benefit from the power of AI to create effective and compelling business plans that drive success.

50+ ChatGPT Prompts for PowerPoint

115+ ChatGPT Prompts for Amazon Sellers

About R.J. Adams

R.J. is an artificial intelligence aficionado, committed to demystifying the intricacies of this cutting-edge technology for enthusiasts and novices alike. Leveraging his comprehensive background in internet marketing, online tools, and communications, he continually ventures into the landscape of newly released AI tools, conducting thorough tests and analyses, as well as finding the best prompts to use on the latest AI tools. He can also solve Rubik's Cube in under 2 minutes.

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How to use ChatGPT in business

What will be the impact of ChatGPT?

ChatGPT is the latest conversational AI model released by OpenAI . It is very capable at following human conversations and completing tasks such as writing short fiction, making elaborate arguments or composing realistic-sounding descriptions.

Given its very broad capabilities , it is easy to wonder what impact models like ChatGPT may have on the lives of millions around the world. What are the usual paths from impressive demos to real-world applications? How can such general-purpose and powerful technology be used by businesses?

How can ChatGPT be used by businesses today?

Chatgpt for sales & marketing.

ChatGPT can be used to generate compeling content for blogs, social media, presentations or emails. We’re all aware of the problem of the blank page and that technology can deliver a sold first draft for virtually any piece of writing. That improves speed but also frees copywriters' time to focus on the more important and creative task of polishing the almost-ready material.

ChatGPT for brainstorming and solving problems

Who wouldn’t appreciate an intelligent brainstorming partner who is always willing to discuss your ideas and suggest some new ones? Many examples have been shared on social media of ChatGPT being of help when debugging code or solving math problems .

ChatGPT for learning and as a reference

Based on the above, ChatGPT could be considered a valuable resource for learning. While it is true, it is important to remember that a model like that may make mistakes or confidently state false claims .

ChatGPT for customer support

ChatGPT could definitely be used as a conversation partner who would often amaze us with its eloquence. The conversation, however, wouldn’t have any specific context and answers to questions would be drawn from general world knowledge. Therefore, they would lack the specific information needed to be useful as a customer support agent or as conversational interface to any specific products, devices or processes.

Customizing models like ChatGPT for your business

How to customize a powerful model like ChatGPT so that it can be used and generate value for your business? At Quickchat AI , we’ve become experts at exactly that over the past few years. Let me explain how we do it in 3 steps:

1) Personality

The way models like ChatGPT talk is generic and general-purpose. Quickchat AI allows you to customize conversation style to reflect your particular use case, product or your company’s branding. Your AI may be a patient and eloquent teacher, a creative tour guide or a strict and concise subject matter expert.

2) Knowledge Base

A model like ChatGPT knows a lot about the world but it might know nothing about your company or your product. You might want it to be an expert on a particular legal act or memorize specifications of all the products in your warehouse.

3) Integrations

Finally, a truly useful AI Assistant will be able to flexibly and in real time draw data and capture events from external source and execute on what happens during conversation (for example, by writing to an internal CRM or database).

Our customers (including Robotics companies, law firms, startups and large organisations) implement Quickchat AI as a conversational interface to their products or as an AI Expert system to operate internally or externally. If you would like to discuss how our technology could be implemented for your use case, please get in touch .

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Small Business Trends

Chatgpt prompts for business.

But before we jump in, what is ChatGPT ?

ChatGPT is an advanced language model that uses artificial intelligence to understand and respond to human language. It’s like having a conversation with a smart computer that can provide answers and suggested solutions to just about anything that’s requested of it.

ChatGPT is indeed a powerful tool. But you must know how to give it proper instructions (i.e. prompts) to get the most out of it.

The prompts we’re sharing with you were developed and finalized after hours of research and testing (and even more testing!) among top members of our editorial team here at Small Business Trends. We hope you find them useful!

Table of Contents

ChatGPT Prompts for Businesses

If you’re wondering how to use ChatGPT , it’s easy. Simply copy the prompt of your choice below, highlighted in yellow, visit ChatGPT , paste the prompt into the text field, and click the arrow. Then sit back and watch ChatGPT generate a response. (It’s important to note that for these prompt examples to work best, we strongly recommend using GPT-4, which will cost you about $20/month.

So what is a ChatGPT prompt ? ChatGPT prompts are the starting point for interacting. When using ChatGPT, you provide a prompt such as a message or a question. This creates the context that guides the the response.

Prompts can range from the simple to the complex. And every day, people are figuring out new ways that great prompts can help them, especially in business.

We’ve crafted a few ChatGPT prompts that we believe can be helpful to your business.

1) Prompt to Create an Elevator Pitch

An elevator pitch is a concise and compelling statement that describes what you do, who you are, and what value you bring to the table. Creating an effective elevator pitch is invaluable to any business.

Here are some prompts we’ve created that will help you devise an effective elevator pitch for your B2B business and your small business.

Simply start a new chat in GPT-4 and enter the text in yellow that corresponds to your business. ChatGPT should respond looking for more information from you. Give it that information and then watch it craft your elevator pitch!

For Small Businesses: Copy and Paste This Prompt Into ChatGPT

Your name is [name] and you’re the top salesperson for a small business [small business] that offers [product or service]. You believe this [product or service] will solve this critical problem [critical problem] for a customer. You need to write a 30 second elevator pitch that will help you sell your products or services to a customer. Ask me for my name, my small business, the product or service I’m selling and the critical problem it solves and then write the elevator pitch based on my answers.

Here is an example of this prompt in action .

For B2B Companies: Copy and Paste This Prompt Into ChatGPT:

Your name is [name] and you’re the top salesperson for a B2B company [B2B company] that offers [product or service]. You believe this [product or service] will solve this critical problem [critical problem] for a small business owner. You need to write a 30 second elevator pitch that will help you sell your products or services to a small business owner. Ask me for my name, my b2b company, the product or service I’m selling and the critical problem it solves and then write the elevator pitch based on my answers.

2) Prompt to Create Calls to Action

A call to action (CTA) is a prompt that encourages potential customers to take a specific action. CTAs are essential in guiding users towards your goal, be it signing up, buying a product, or any other desired outcome.

The following prompts we’ve created will develop 10 call-to-action statements that you can use where you need them best. After the prompt examples, check out our list of some common locations where your business likely needs effective and engaging call-to-action statements. We’ve also listed popular types of call-to-action statements your business likely will need at some point.

Again, just start a new chat in GPT-4 and enter the prompt below most apropos for your business type.

For Small Businesses: Copy and Paste This Prompt Into ChatGPT:

You’re a marketing wizard for a small business [small business] that needs to create a Call-To-Action for a place where the call-to-action will appear [place where the call-to-action will appear]. This is the action [action] we want them to take. In your CTA, explain what the customer gets [incentive] when they follow the CTA. Ask me for the small business, the place where the call-to-action will appear, the action, and the incentive. Then develop 10 CTAs from my answers.

Here’s an example of this prompt in action .

You’re a marketing wizard for a B2B company [B2B company] that needs to create a Call-To-Action for a place where the call-to-action will appear [place where the call-to-action will appear]. This is the action [action] we want them to take. In your CTA, explain what the customer gets [incentive] when they follow the CTA. Ask me for the B2B company, the place where the call-to-action will appear, the action, and the incentive. Then develop 10 CTAs from my answers.

Call To Action Locations

Not sure where a call to action statement goes? Check out these popular locations where call to action statements commonly appear in marketing messages:

• Landing Pages: One of the most common places for CTAs. They’re designed to drive visitors towards a specific action, such as signing up for a webinar or downloading a free e-book.
• Email Campaigns: At the end or even in the middle of the email content, urging readers to click on a link, subscribe to a service, or avail a discount.
• Social Media Posts: CTAs can be included in posts or tweets, prompting followers to share, comment, or visit a link.
• Homepage: A main CTA can be prominently displayed on the homepage, guiding visitors to the most important action you want them to take.
• Blog Posts: At the end of articles, prompting readers to comment, share, read another article, or even download related resources.
• Header or Footer: Many websites have a persistent CTA in the header or footer, ensuring it’s visible no matter where the visitor is on the website.
• Sidebar: On blog sites or content-rich pages, a CTA can be placed in a sticky sidebar, prompting users for newsletter signups or to access other relevant content.
• Pop-ups or Modals: These can appear after a user has spent a certain amount of time on the site or is about to leave (exit-intent pop-ups). They can offer special deals, ask users to subscribe, or offer a valuable resource.
• In-Video: For video content, CTAs can appear at the beginning, middle, or end, prompting viewers to subscribe to a channel, visit a website, or check out related content.
• Mobile Apps: Within a mobile app interface, CTAs can guide users to upgrade to a premium version, rate the app, or take other significant actions.

Call to Action Examples

Below are some call-to-action examples . Choose your desired action below:

• Sign Up/Register: For newsletters, webinars, online courses, events, or services.
• Purchase/Buy Now: Encouraging immediate purchase of a product or service.
• Download: Offering whitepapers, e-books, apps, software trials, or other digital assets.
• Learn More: Directing visitors to a page with more detailed information on a topic or product.
• Contact Us: Encouraging users to reach out, whether for more information, customer support, or sales inquiries.
• Get a Quote: For services that require customized pricing or details based on individual needs.
• Book Now: Used by businesses such as hotels, airlines, or any service that requires reservations or appointments.
• Start a Free Trial: For software or services that offer a trial period before purchase.
• Watch Video: Prompting visitors to view multimedia content which might explain a product or service in more detail.
• Share/Refer a Friend: Encouraging users to share content, products, or services with their network.
• Comment Below: On blog posts or articles, to boost engagement and interaction.
• Take a Survey/Poll: Gathering feedback or opinions from users.
• Join/Enroll: For membership sites, loyalty programs, or any group-based offers.
• Donate: Common for non-profits or fundraising campaigns.
• Add to Cart/Wishlist: For e-commerce sites, prompting users to select items for future purchase.
• Follow/Subscribe: On social media platforms or content platforms like YouTube.
• Login: For sites that want returning users to sign in.
• Chat Now: Initiating a conversation, often with customer service or a sales representative.
• Save for Later: Allows users to save a product or piece of content to revisit at a later time.
• View Demo: For products or services that have a demonstration available

3) Prompt to Create Customer Personas

Customer personas, or buyer personas , help you focus on a target audience .  They supply information on customers so you can develop marketing strategies and improve product development.

A buyer persona is a comprehensive, research-based archetype of your ideal customer that can help you to better understand and meet the needs of your market. It’s a fictional representation grounded in real data about customer demographics, behavior patterns, motivations, and goals.

Using ChatGPT is a great way to brainstorm and get started on new personas. But nothing can replace real data.

Here are prompts we’ve created that will develop customer personas that may match your business’s needs exactly or could need a little tweaking. But they’ll definitely get you started.

Simply paste the correct prompt for your business type into a new GPT-4 chat and then give it the information it’ll ask you for in its first response. Then, watch it craft some unique customer personas to get your marketing research started.

You’re the top salesperson for a small business [small business] that sells products or services [products or services] to customers. You need to develop 5 highly-detailed customer personas to use when developing marketing campaigns. Each customer persona should include the following information: Demographic Information, Geographic Location, Psychographic Information, Behavioral Traits, Challenges & Pain Points, Goals & Motivations, Brand Interactions, Preferred Communication Channels, Objections & Barriers, Influencers & Decision Drivers, Quotes & Anecdotal Insights, Visual Elements. Ask me for the name of my small business and the products or services and then develop the customer personas. List the name of the customer in header text and then write details below in bullet points.

You’re the top salesperson for a B2B company [B2B company] that sells products or services [products or services] to small businesses. You need to develop 5 highly-detailed customer personas to use when developing marketing campaigns for different stakeholders. Each customer persona should include the following information: Demographic Information, Geographic Location, Psychographic Information, Behavioral Traits, Challenges & Pain Points, Goals & Motivations, Brand Interactions, Preferred Communication Channels, Objections & Barriers, Influencers & Decision Drivers, Quotes & Anecdotal Insights, Visual Elements. Ask me for the name of my B2B company and the products or services and then develop the customer personas. List the name of the customer in header text and then write details below in bullet points.

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Home » Tips & Tricks » Can ChatGPT write a business plan?

Can ChatGPT write a business plan?

Why not try ChatGPT to help with a business plan? It is very capable

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Are you an entrepreneur or a future business owner looking to write a comprehensive and strategic business plan? You might have heard that ChatGPT can help you with that. The release of GPT-3 in early 2023 has made ChatGPT capable of doing and assisting in many things. Writing a business plan is one of them. In this article, we’ll discuss how ChatGPT can help you create a business plan and provide you with a customized prompt. However, keep in mind that ChatGPT cannot come up with a viral product or service for you. It can only provide structure and guidance by putting together a draft business plan based on the information you provide.

Using ChatGPT to write a business plan

Writing a business plan is an essential task for any entrepreneur, as it provides a roadmap for the future of the business. ChatGPT can be used to write simple and customized business plans that can be helpful to startups. You can feed the bot with information about your business, just as you would with a person. The first step in using ChatGPT to write a business plan is to define your vision and mission statements. These statements serve as the foundation of your business plan and should be clear, concise, and inspiring. You can use ChatGPT to generate ideas and refine your statements.

Start by answering questions such as:

• What is the purpose of your business?
• What problem are you solving?
• What makes your business unique?
• What are your values and beliefs?
• What is your long-term goal?
• How will your business make a difference in the market?

Once you have defined your vision and mission statements, you can move on to creating a simple outline for your business plan. The outline should include an executive summary, a business description, a market analysis, marketing and sales strategies, a financial plan, and a management team section. You can use ChatGPT to create a customized outline that suits your business needs. ChatGPT can also help you with the financial plan section of your business plan.

You can provide information about your expected start-up costs, projected sales and expenses, and funding requirements, and ChatGPT can generate a draft of your financial plan.

A customized business plan prompt

For a personalized business plan from ChatGPT, start with a customized prompt that includes all the necessary information and all the questions answered that we elaborated in the previous section. Here is our Prompt for creating a business plan with ChatGPT: “Based on the following information, please write a comprehensive business plan for [Business Name]. The business is in the [Industry] industry and will offer [Products/Services]. The target market is [Target Market] and the business will operate in [Location]. The founders are [Founder Names] and they plan to generate revenue through [Revenue Streams].

The business aims to solve [Problem] and differentiate itself through [Unique Selling Point]. Please include an executive summary, market analysis, marketing strategy, operations plan, and financial projections in the business plan.”

Limitations of ChatGPT for writing a business plan

ChatGPT is great for helping write a business plan in many ways but there are some definite limitations which you should be aware of.

• Outdated responses – ChatGPT is trained on data from before 2021. This means that it may not include the most up to date information in your specific industry or field.
• Lack of specificity – ChatGPT will often make suggestions based upon generalized business principals and this might not be right for your business.
• Lack of functionality – ChatGPT is a chatbot first and foremost and therefore lacks the same functionality of a spreadsheet or a dedicated business planning tool. This might make working out the finances of your business more difficult in ChatGPT.
• Only responds to prompts – This is sort of a given but if your prompts aren’t specific enough you won’t receive responses with the level of nuance you may be looking for.

Can I use ChatGPT to write a business proposal?

Yes, ChatGPT can write a business proposal with the write prompts.

Can you use ChatGPT to write a business plan?

Yes, you can use ChatGPT to successfully plan out and write a business plan, as long as you provide it with the right prompts.

Shaun Conroy

Shaun, with a computer science degree and 15 years of computer experience, has been passionate about competitive FPS gaming since the mid-2000s.

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• Main content

A minor ChatGPT update is a warning to founders: Big Tech can blow up your startup at any time

• ChatGPT can now interact with PDFs and let you ask questions about them.
• Changes like these could cause startups that build "wrappers" for AI chatbots to be edged out.
• It's a bleak reminder that swift rule changes by Big Tech firms can wreak havoc on smaller players.

Did OpenAI just kill a bunch of startups by making a small update to ChatGPT? Investors and founders will soon find out.

Sam Altman's company introduced a new beta feature for ChatGPT subscribers on Sunday, which allows them to upload PDFs. The chatbot analyzes the files and allows users to start asking questions about them.

Anyone who has ever tried scrolling through hundreds of pages of PDFs to pull out useful data and synthesize information will know just how tedious it can be. That makes the update a pretty nifty one for ChatGPT Plus users.

Huge new updates to ChatGPT / GPT-4. 1. Upload and chat with any PDF document 2. Use tools without switching chats Here's everything you need to know and my thoughts: pic.twitter.com/ESFt7bpGyy — Rowan Cheung (@rowancheung) October 29, 2023

The update also creates a wider problem.

Some startups have built their businesses around ChatGPT's lack of interactivity with PDFs. Now that ChatGPT can interact with them, what can these other startups offer that ChatGPT can't?

The simple answer may be a whole lot of nothing.

AI-focused 'wrapper startups' face a reckoning

Sahar Mor, product lead at payments giant Stripe, wrote on LinkedIn that "OpenAI just executed a move that will wipe out dozens of AI companies." Specifically, he referred to "wrapper startups."

These are essentially startups that "wrap" themselves around an API like ChatGPT, using the core technology underneath the chatbot to offer some sort of service that isn't available directly from that API.

It isn't necessarily the case that founders who build AI wrapper businesses are doing this to exploit a weakness in ChatGPT. In March, OpenAI flung the doors open for developers to integrate ChatGPT into their apps and products.

That means startups offering PDF functions aren't the only wrappers in town. There's a whole bunch of them out there offering all kinds of uses.

Perhaps the most prominent wrapper to date has been Jasper AI , which went into 2023 with a $1.5 billion valuation, with backing from big VC players such as Coatue and Bessemer Venture Partners.

What did it do to get that lofty valuation? It created an "AI copilot" specific to the needs of enterprise marketing teams by wrapping around OpenAI's GPT model .

It's an idea that seems to be struggling, with the company cutting its internal valuation, The Information reported . It also announced layoffs in July .

Startups that offered user interactions with PDFs by wrapping around tools like ChatGPT may wonder if they face a similar fate.

Here's one example. In May, data scientist Alex Reibman announced ChatOCR , a ChatGPT plugin that "reads text from PDFs, including scans and handwriting."

Following the ChatGPT update at the weekend, he ran a poll on X that asked users what would happen to his plugin "now that ChatGPT has built in PDF processing." Out of 210 respondents, 72.4% said they expected the plugin to "see less usage."

Now that ChatGPT has built in PDF processing, our chat with PDF plugin will: — Alex Reibman (@AlexReibman) October 30, 2023

The key takeaway is that without a moat to make them significantly different from competitors, startups risk being plundered.

Investors need to start considering if they've placed big bets on the wrong horse.

Watch: What is ChatGPT, and should we be afraid of AI chatbots?