“Bro, have you used ChatGPT?”
“Yeah bro, I’m worried it’s gonna take my job.”
“Damn bro, it’s pretty cool tho right?”
Yeah. It is pretty cool. But I bet you don’t realise how cool it can actually be, especially for a young entrepreneur like you.
Starting a business can be daunting, especially when you’re riding solo. It’s even harder when you’re working on a project after a long day at your 9-5. You have to wear so many hats as a new business owner, how can one person do a teams-worth of work?
ChatGPT is an AI bot created to generate human-like responses, with a brain that has the whole of the internet (up to 2021) inside of it. Like a friendly internet wizard.
But you don’t need to panic that AI will take your job. You want a business, not a job, right? Use it to your advantage!
Here are some eye-opening things that ChatGPT can do to help your business venture get ahead of the rest, quickly and easily.
1. Business planning, made easy.
Coming up with your business idea is the fun part. Daydreaming about what sort of boss you’ll be (obviously a great one), what collaborations you might do, or how much moolah you’ll be making.
But planning how you’ll get there? That’s a big leap.
Enter: ChatGPT, aka your pocket business guru. Feed it your ideas, objectives and goals, and it can blend it all up into a digestible business plan. Then you just follow, grow and gain.
Here’s 2 prompts to ask ChatGPT to help create a well-rounded business plan:
“How do I create a business plan that is both compelling and feasible?”
"What are the most important metrics to track in a business plan?”
2. Marketing and advertising, done for you.
Well, you still have to hit the ‘publish’ button, but ChatGPT can do the heavy-lifting.
There’s more to marketing and advertising than just pretty pictures. A tonne of strategy is needed to make a successful campaign. Without hiring a full marketing team or agency, it can be overwhelming.
But pop these questions into ChatGPT, and you’ll have the hard-work done for you.
"What are the key components of a successful marketing plan?”
“How can I create compelling ad copy that resonates with my target audience?”
Make sure to describe your ideal audience for an accurate answer. For example: “My audience is small business owners in the construction industry looking for support with accounting.”
You can even take it to the next step and get ChatGPT to write or design the content for you.
Beware though that without telling ChatGPT about your business in detail, the content will come out generic and vague. Be clear about your tone of voice, target audience, brand values etc. The power is in your hands!
3. Financial management, sorted.
If you prefer the creative side of business, this part is especially daunting. Taxes, aah!
ChatGPT can help you create budgeting and forecasting strategies that you’d usually pay an accountant a lot of money for.
It can also suggest handy platforms that would be best for your specific business type, so you don’t have to spend 10 hours scrolling through google reviews.
Here’s some Q’s to ask:
“What are the most effective strategies for managing cash flow?”
“How can I develop effective financial statements?”
So, feeling a little more excited about the possibilities of ChatGPT and AI?
Have a play around, think of a task that’s been winding you up and see if ChatGPT can help you out. It probably can!
By Indiana Williams
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