The method
Use this prompt to rigorously test your startup idea. Input the idea and target market details. Then use the generated prompts by copying and pasting them into ChatGPT. Analyze the AI’s feedback to refine your business model.
The prompts
Prompt 1
I have a startup idea: [Describe your startup idea]. Our target market is [Describe your target market]. Please generate a list of 10 critical questions that I should answer to determine the feasibility and potential success of this idea. These questions should cover market demand, competition, operational challenges, and financial viability.
Prompt 2
Given the following startup idea: [Describe your startup idea] and target market: [Describe your target market], conduct a SWOT analysis. Identify the Strengths, Weaknesses, Opportunities, and Threats associated with this venture. Provide specific examples and explain the potential impact of each factor on the business's success.
Prompt 3
Considering the startup idea: [Describe your startup idea] targeting [Describe your target market], outline a customer acquisition strategy. Detail specific channels and tactics to reach potential customers, and estimate the cost and expected return on investment for each channel. Also, identify key performance indicators (KPIs) to measure the effectiveness of the customer acquisition efforts.
Prompt 4
Assess the competitive landscape for the startup idea: [Describe your startup idea], which targets [Describe your target market]. Identify at least three direct and three indirect competitors. Analyze their strengths and weaknesses, pricing strategies, and market share. Based on this analysis, suggest how our startup can differentiate itself and gain a competitive advantage.