If you’re missing a plan of attack, the blank input box can feel daunting and you can feel silly. But when the possibilities of what you can ask and retrieve are endless, how do you decide how to narrow your search and get some business-changing insights?
Entrepreneurs are using ChatGPT to co-create and ideate, to make more money and save time. They’re using it to write their emails, training it to be their personal AI business coach and finding out how to outrank their competition with SEO-optimized articles. They test various prompts to engage with ChatGPT and seek assistance. According to ChatGPT itself, here are five that they commonly use.
What entrepreneurs are asking ChatGPT
1. The business idea prompt
By their very nature, entrepreneurs are ideation machines. They have brainwaves at their laptop, on the train and in the middle of the night. They spring into action, scribbling down ideas, convinced this is the next big thing. Ideating with ChatGPT ramps up their output, as they go back and forth to dream bigger, refine and narrow down its suggestions. Whether it’s ideas for their existing business or a new potential niche, ChatGPT will have something ready, inspiring faster action with bigger payoffs.
Here’s the prompt they are using. Paste it in, edit as you see fit and see what comes out. "I'm looking for business ideas in [describe your industry or area of expertise] within the parameters of [describe the essential elements of the idea]. Can you suggest some innovative and profitable opportunities?"
2. The marketing strategy promptWhen they have the right product but they’re not sure how to get it noticed, entrepreneurs are turning to ChatGPT to get a steer in the direction of success. By using this prompt, they receive insights into proven marketing strategies, including digital marketing, social media advertising, content marketing, influencer partnerships, and more. Yes, they could ask a colleague, an agency or the internet, but when the answers can arrive with such little energy, it makes sense that they give it a whirl.Use this prompt for initial ideas, then add follow up questions for more detail. "What are the most effective marketing strategies to promote my [describe your product or service] that solves the problem of [describe the problem it solves]? We have a target audience of [add information about your target audience] and want to achieve [explain the outcome you are looking for]."
3. The efficiency prompt
Artificial intelligence can compute many things faster than humans, so we expect answers in an instant and get antsy when they don’t arrive. Entrepreneurs looking to get more done are asking ChatGPT about operational best practices, automation, outsourcing, supply chain management, or any other aspect of their operations they wish would go faster. Maximizing productivity and profitability is the name of the game. Now hurry up and use this prompt to get the same results.
This prompt is simple, but comprehensive context will make it super valuable. "How can I optimize my business operations, which involve [describe your business processes and how you make money] and increase efficiency, specifically in the areas of [describe the business areas where you suspect efficiency can be made]?"
4. The raising money promptIn order to make their dreams come true, entrepreneurs need cash. Hiring the right people, investing in the best software and taking audacious risks involves a flow of money that might not yet be there. Enter ChatGPT. With a clever prompt, and internet access, entrepreneurs can get ideas on which funding sources to approach and how to approach them. They can understand the basics of seeking investment, including their pitch, valuation and negotiation tactics.
If you’re raising capital now or in the future, personalize this prompt and get some ideas. "What are the key factors to consider when raising capital for my startup? My business does [describe what your business does] for the benefit of [describe your target audience]. Can you give me potential sources of funding and suggest how I approach each one?"
5. The expansion promptWith every prompt so far, entrepreneurs have their business idea, their marketing strategy, their productivity plan and investment roadmap. They are equipped to go big, and want help with the how. Here’s where ChatGPT is used as an ambitious business partner, suggesting new areas of market research, product diversification, international expansion, partnerships, and other growth-oriented approaches. Even if they don’t carry any forward, it’s useful to know the options in advance.
If expansion is your next mission, here’s the prompt to try: "How can I scale my business and expand into new markets? My business is [describe your business] and most of our customers come from [describe how you get your clients]. We want ideas of new ways forward, potentially including new customer bases, product lines and partnerships. Please suggest some in order or priority."
Emulate the strategies of many entrepreneurs and use the prompts they are using to make progress. Tailor them based on your specific needs, industry, and business stage to get the most relevant and valuable insights from ChatGPT.
