AI Quick Tips 226: Use AI Tools to Create a Business Plan

A lot of people choose to skip writing a business plan. Technically, you don’t need one.  

With modern AI tools like ChatGPT, Gemini, Claude, etc., you can give the high-level information and delegate the heavy lifting.

Here is a prompt template that you can use to get started -

Your task is to help me create a comprehensive business plan that is detailed, well-structured and covers the essential aspects of a new opportunity.

Work through this step-by-step

• • Craft an executive summary that outlines the business concept, mission, and key objectives.

• • Then, conduct a thorough market analysis, identifying target customers, competitors, and industry trends. 

• • Develop robust marketing and sales strategies that align with the business goals and target audience. 

• • Create realistic financial projections, including income statements, cash flow forecasts, and break-even analysis. 

• • Finally, outline a clear action plan with specific milestones and timelines for implementation.

Key Information:

• • Type of business: {description of the type of business}

• • Target market: {description of the target market}

• • Differentiator: {description of how we are different from others in the market}

• • Initial investment: {estimated amount of initial investment}

Output a professional structured format with clear headings for each section of the plan

If you are able to add a few details, you can get a really useful business plan that can either become your north star or, at least, give you some ideas that you didn’t consider.  

Consider getting multiple plans and picking elements that you like from each and/or using a deep research model for more detailed results.