Nailing your Business Niche with AI PART 3 – Finding Your Niche

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Hey Prompt Entrepreneur,

You’ve done a lot of hard soul searching over the last two Parts.

Today you get to relax and let ChatGPT do some of the hard work!

We’re going to pull in the work you’ve done so far and have ChatGPT crunch all the data to start generating business ideas.

Let’s get started:

Getting Clear on your Motivations

1. Business idea generator

First up we’re going to draw on all our previous work in this mega-prompt.

If you’ve done all of the previous work in the same chat you should be able to copy/paste this directly in.

Otherwise replace the [elements] with your information from past prompts.

Here’s the prompt :

Act as an entrepreneurial advisor

Provide 10 distinct business ideas based on the provided information.

My skills: [skills]
My strengths:[strengths]
Tasks that engage me: [flow tasks]
My reasons for starting a business: [reasons]
My required income level per annum: [required income before tax]

Provide in a table:
Business idea , description, main revenue drivers, income breakdown, fit with skills/strengths/engagement, fit with reasons for starting a business.  

💬 Prompt Output:

Here are the first 5 business ideas:

Copy/paste the details of ideas that appeal to you into a document.

Re-run the prompt if you need more ideas. Keep going until you have 5-10 ideas that you are excited about.

They don’t need to be your absolute passion. Instead just find ones that you think you’d enjoy setting up and running. Once up and running there will be more flexibility towards passion – first we need stability.

We’re now going to go into depth with these exciting ideas in the next step.

2. Business report

We want to delve into detail with each of the business ideas we have so we can better assess it. The first pass was very high level – now we’re looking into each idea more.

Use this prompt on each idea, one at a time, to generate a more in-depth report.

Act as a business startup advisor

[paste business idea]

Review this business idea and give me: -team required -capital required -assets required A detailed list for each with estimated costings As well as : -time to revenue -competition level -market demand Design everything so that it generates the required income of [required income] for the founder. Keep everything as lean as required to hit this prime objective.

💬 Prompt Output:

Here’s an example for the ed-tech platform:

ChatGPT will generate a complete business breakdown of what you’ll need to get in place to make this business work.

Generate these breakdowns for each of the businesses that excite you until you have 3-5 left.

In the next Part we’re going to analyse those 3-5 and gauge market demand so we know it’s a business idea worth progressing with.

3. Premium Prompt – Bootstrapping

Free Trial – Premium

We’re providing a free trial of the Premium Prompts. Premium Prompts will be available for members only once our community launches. Stay tuned.

The business breakdown created by ChatGPT above is a reasonable plan. It gives you all the required team, assets and capital required.

This is how most “normal” businesses start.

You start by pulling everything together upfront and then plan to generate revenue months or years down the line.

This may or may not be on the table for you personally. And it’ll depend on your particular niche and whether there’s any investment cash available.

If not then here’s an additional prompt to take an existing business breakdown and winnow it down to solopreneur essentials:

Act as a solopreneur expert

Take this business breakdown and adapt it for:

Team of one, with no-code tools and freelance contractors
No significant starting capital 

Assume bootstrapping, reinvestment of revenue into growth. 

Retain focus on founder's income target as primary concern.

💬 Prompt Output:

This strips out the main cost centres (team and capital) of the business and replaces with methods to allow you to bootstrap growth.

If you are having trouble with all your ideas seeming to cost too much to implement then try this prompt and see if they become more palatable.

Again, go with the most exciting ideas for now. In the next Part we’ll start to test whether there is a market.

Pulling it together

In this Part we pulled in all our hard preparatory work into a handful of powerful mega prompts.

These crunched the data and gave us starter business ideas. We’ve chosen a few that excite us for now.

Next we’ll begin to see which are the most realistic to build based on market demand and conditions.

A reminder of what we’re covering this week :

Part 1: Exploring Your Interests and Skills

Part 2: Getting Clear on Your Motivations

Part 3: Finding Your Niche

Part 4: Validating and Refining Your Idea

Part 5: Planning Next Steps

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