GPTAnalyst: Idea Analysis to Business Plan Framework (Part II)

Hey — It’s Hussein 👋

It feels like just a few days ago, I was planning for 2023 and exploring the idea of starting a newsletter. It’s hard to believe that we are already in November, and the time to think about 2024 goals is here. Time flies when you are having fun! 🤩

Welcome to part two of how you can use ChatGPT to analyze an idea and create a business plan from it - all with the help of 21 prompts. Here’s where we’re at:

• Part 1: Business Analysis and Strategic Planning

• Part 2: Tactical and Operational Planning ← This post

Let’s get into it.

Before we begin… a big thank you to:

I tried to keep these prompts generic and universal, so they apply to as many business ideas and types as possible.

Use these prompts as a starting point and a guide. As you work through them, you will get insights that would be valuable to include in subsequent prompts. Make sure to include them.

Also, don’t shy away from going back to a previous prompt and rerun it, given any new insights you got from a prompt. Business plans and strategy docs are living documents that should be updated as the business progresses.

Start a doc and update it with answers from these prompts as you go. This works in Google Docs, Apple Notes, Evernote, Notion, Pages, or your preferred doc tool.

21 prompts to analyze your business idea (part II)

In case you missed it: Part 1: Business Analysis and Strategic Planning

Why this prompt?

1. Understand your competitive landscape and know what you’ll need to do to tackle it.

2. Think about who your stakeholders will be, which helps you tailor your strategies to meet the needs and expectations of each group.

3. Porter’s and CATWOE analyses are a great way to align business strategy to market conditions, stakeholder needs, and internal capabilities.

Why this prompt?

1. Proper resource allocation helps create smoother operations.

2. It helps in identifying areas where cost efficiencies can be achieved.

3. Ensures that resources are aligned with key strategic initiatives.

Why this prompt?

1. Starting with an MVP is a good way to test your idea or market before scaling.

2. Your MVP section can help you plan for what resources and help you need for each stage of your business. Starting with market validation and launch.

3. An MVP can help you establish early credibility with customers, investors, and partners.

Why this prompt?

1. A good process for capturing customer feedback is critical for minimizing churn.

2. It helps your business be more adaptable to market changes quickly.

3. It helps you maintain and improve the quality of your business, product, or service.

Why this prompt?

1. Get clarity on who your target audience is, what your unique value propositions are, and how you will reach your customers.

2. The results can help you identify potential challenges, competition, and market conditions. With that in hand, you can prepare for them to reduce any risks.

3. A strong go-to-market strategy can instill confidence in investors and any partners or employees you plan on bringing on.

Why this prompt?

1. At this stage, there are many unknowns, but showing investors and partners that you are thinking about financials from day 1 goes a long way to establishing your credibility and the credibility of your business.

2. Putting numbers together and having a financial plan in place early on will help you make better decisions throughout the life of your business.

3. Not capitalizing a business idea well is one of the top reasons it could fail. Use this as a guide to know how much funding you need to get the business going.

Why this prompt?

1. Set clear milestones and next steps for the business.

2. Provides a roadmap that can be shared with investors to track progress.

3. It helps the team understand priorities and work towards achieving them.

Why this prompt?

1. World domination ;)

2. It helps you identify additional revenue streams and tap into new markets.

3. You can potentially have a first-mover advantage in untapped markets.

Why this prompt?

1. It's a great way to do good and build brand equity at the same time.

2. Attract investors and partners that are sustainability-focused.

3. Pre-empts potential future regulations related to sustainability.

Why this prompt?

1. Be aware of potential risks to your business and have a plan on how to mitigate them. Being prepared early helps reduce fires you’ll need to fight along the way.

2. Show investors that you have thought through potential problems.

3. It helps you allocate resources to areas that need it the most for problem-solving.

Why this prompt?

1. Get clarity on the big picture and future of the company. Investors and employees will want to know what the ultimate goal is.

2. It helps keep your team focused on what the long-term objectives are as they start making decisions.

3. It can help you understand what you need to achieve to meet your business valuation goals.

With the responses from these 11 prompts and the ones from part I. You’ll have everything you need to think through a business idea and get it off the ground.

Remember, launching and running a business is not easy. These prompts are meant to help you think through various aspects of the business and get you on your journey faster and better equipped.

Good luck! If you kick anything off using these prompts, let me know. I would love to highlight them.

See you next week — Hussein ✌️

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