Virgin Group founder Richard Branson once said, “If your speech can’t support a coaster, a napkin, or the back of an envelope, I’d pay attention to someone else’s speech who can. ” He believed that intelligent concepts can be expressed. very succinctly.
There’s a sure romance in those corporate stories where inspiration arises in the middle of a crowded bar and the founder jots down his concept on a napkin. In reality, starting a business requires more than making plans than just a brilliant concept. Whether it’s looking to secure an investment or simply creating a roadmap for your team, a well-thought-out business plan deserves to be very well organized and strategic, more so than it can simply have compatibility on a towel. Entrepreneurs who write formal plans are 16% more likely to achieve viability than those who do not plan.
Fortunately for today’s aspiring marketers, the barriers to starting and making business plans have never been lower. Thanks to AI teams like ChatGPT, founders have effective and affordable resources at their fingertips. If ChatGPT had existed just two decades ago, when I started my online bureaucracy business, I might have left my homework sooner. Here are nine ChatGPT activations that marketers today can use to draft a business plan.
Think of your executive summary as your elevator pitch, where you concisely summarize your business plan, describe the concept, and detail key monetary data. This is news to your business for your reader, so you need to make a first impression. Like the blurb at the end of a book, the purpose of your summary is to convince the reader to continue reading.
It’s probably more effective to write a summary after you’ve prepared the other sections of your business plan. In this way, they can serve as a guide. With that in mind, here’s a spark you can use once you’re in a position to write your resume.
“I am in the process of putting together a business plan for [my business/the business I plan to launch]. Below I will provide the key main points about the company, adding its mission, [products/services], target market, advantages competitive, expansion objectives and monetary plan. With this data, can you write a compelling summary? If any information is missing or can simply be expanded, highlight those spaces and recommend any other main points you can provide to make the summary more impactful and. complete.
It’s time to review your business. What is the legal structure? What is your product or service? What exclusive price will your product or service offer to your customers? Where is the company located? Is it physical, online or both? Who are the key stakeholders?
In this section, you want to paint a more detailed picture of how your business will operate on a daily basis. Give this prompt a try:
“I’m running the Business Overview segment of my business plan and want to write a detailed description. Below are some facts about the company:
Legal structure: [LLC, corporation, etc.]
Product/service: [brief description]
Unique Proposal for Customers: [Short Description]
Business Location: [physical address, online, or both]
Key stakeholders: [list key personnel]
How the Will Will Will Work: [Brief Description]
Can you help me write a corporate review of this information?If any vital main points are missing, create a bulleted list and recommend how I can make the description more complete. “
Your project deserves to explain why your company exists and its core values. Here you can also explain what your company needs to achieve in the future.
You can simply write your project and ask ChatGPT to review it and offer suggestions. Another option is to have ChatGPT rewrite your project in a certain style, even channeling another company’s voice. For example, here is an edit of the JotForm project:
“JotForm is a powerful online form builder that makes it simple to create physically powerful forms and collect data. JotForm is a gateway to gathering greater insights to drive your business.
Here is a way to rewrite the project declaration:
“I am writing the mission statement of my business plan. Can you rewrite the below mission statement in the style of [Apple/Tesla/Canva/etc.]?”
To demonstrate, here’s how ChatGPT rewrote our mission statement in the style of Apple:
“JotForm allows companies to effortlessly create a transparent bureaucracy and collect valuable data. It’s the intuitive tool that transposes the way you gather information, allowing you to make smarter decisions and achieve success.
Tesla:
“Jotform is revolutionizing the way businesses collect and harness data. With powerful, intuitive tools, we empower you to create dynamic forms that unlock smarter insights, driving progress and pushing the boundaries of what your business can achieve.”
Cloth:
“Jotform makes it easy for anyone to create powerful, customizable forms and gather meaningful data, all in one place. We’re simplifying the way businesses collect information, helping you work smarter and unlock new possibilities.”
The market analysis part of your business plan begins with defining the target market and audience. Here, you want to describe your business’s current and/or future target audience: the group of people or businesses you plan to sell to and the number of people or businesses who fit that description. This section should show that you understand your target market and how you’re meeting their needs. While ChatGPT can lend a hand in editing, it can also help conduct your research at this juncture. With that in mind, here’s a prompt you can use.
“I am executing my business plan and I want to identify and describe my target market. These are the key main points of my business:
Product or service description:
Single price or get the benefits you offer to customers:
Existing data on market or visitor demographics:
Geographic location or regions I plan to serve:
Current Competitors:
Pricing and product positioning:
With this data, could you describe the ideal visitor profile and target market segments for my business?Also recommend any additional data that can make the target market research more accurate.
Military strategist Sun Tzu said, “Keep your friends close and your enemies closer. » As a business owner, by knowing your festival you will be able to perceive its strengths and weaknesses and how to profile yourself.
This segment of your business plan informs readers about the competitive landscape and highlights opportunities in the market. It includes a list of competitors (direct, indirect, and ambitious) and summarizes who they are, what they offer, and who they serve.
To make a request from ChatGPT with this section, see the following message:
“I’m working on the competitive analysis section of my business plan and need help identifying and analyzing competitors. My business offers [briefly describe your business]. My customers are [brief description, including geographic location, if relevant]. I’d like you to help me identify the following:
Direct competition (companies offering products/services) and provide a brief summary of your strengths and weaknesses.
Indirect competitors (businesses offering alternatives to my product/service) and outline their strengths and weaknesses.
Ambitious competition (companies that I haven’t competed with lately but that I aspire to be) and what makes them successful.
Lastly, can you identify market opportunities based on this competitive analysis? »
In this segment, you craft your exclusive promotion proposal and how you will stand out from the competition. As I tell apprentice entrepreneurs, a crowded market doesn’t mean you deserve to avoid trying, as long as you’re exploiting a hole in that market. Here, you deserve to highlight the products and services, or for visitors to delight in the facets that will make your business stand out. While this segment may be brief, it actually guides each and every aspect of your business strategy. Here’s a spark you can use to continue the above discussion with ChatGPT:
“I would like to paint the segment of my business plan where I differentiate my business. My company offers [briefly describe your company], and I stand out because [list the key points that describe your company, such as exclusive products, excellent visitor service, state-of-the-art technology, etc. ] Can you help me refine this?Comparing these differentiating points against the strengths and weaknesses of the competition that we know before?I would also like to know how to best showcase my exclusive price proposition in the market, taking into account what my competition offers.
This section provides a more detailed roadmap of how your business will execute its mission and meet its larger objectives. How will you get from point A to point B on your map? You want to identify your goals and key performance indicators (KPIs) that you will use to measure whether the business is succeeding at each step in the journey.
You can set both short- and long-term objectives, spelling out where you want to be in 1, 5, 10 years, etc. Goals should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound). Try this prompt:
“I’m working on setting SMART goals for my business plan. My company offers [short description]. Could you help me formulate SMART resolutions for short-term (6-12 months) and long-term (3-5 years) purposes? Make sure the purpose is specific, measurable, attainable, actionable and time-bound. Can you also give me advice based on the following spaces I need to focus on: [revenue growth, visitor acquisition, product development, market expansion, etc. ]? Can you also create a list of missing data that can help me refine my SMART resolutions? »
To expand the goals and KPIs segment of your business plan, you can use this message:
“I’m working on defining key functionality signs (KPIs) for my business plan. My company provides [short description] and me on tracking progress in spaces like [list spaces, such as profit growth, etc. ]. Can you help me identify:
Relevant KPIs for [previously indexed areas]?
Are benchmarks or targets suggested for KPIs based on short-term (6-12 months) and long-term (3-5 years) goals?
Also describe how I can use those KPIs to measure good luck and make data-driven decisions. »
The fundamental elements of your company’s monetary plan are the source of the income statement, the monetary projection and the balance sheet. This might be the least sexy component of your business plan, but it’s also one of the most important. This shows that you are not just presenting the spark of an idea, but rather a viable business.
ChatGPT can provide a template so you can provide this monetary data in the most transparent and organized way possible. Here’s a spark to try:
“Can you provide a template that I can use to create a clear, organized financial plan for my business plan?”
This alone will generate a thorough template, but feel free to add any information to tailor the template to your business. As always, the more context you can give ChatGPT, the more refined and relevant the answer.
A community. Many voices. Create a free account to share your thoughts.
Our network aims to connect others through open and thoughtful conversations. We need our readers to share their perspectives and exchange ideas and facts in one space.
To do this, please comply with the posting regulations in our site’s terms of use. We summarize some of those key regulations below. In short, civilized.
Your post will be rejected if we notice that it seems to contain:
User accounts will be blocked if we notice or believe that users are engaged in:
So how can you be a user?
Thank you for reading our Community Standards. Read the full list of posting regulations discovered in our site’s Terms of Use.