Using AI to Craft your Business Plan

As a follow-up to my last article on using AI to validate your business idea, we will take a step further and leverage ChatGPT to craft the business plan for our financial education business.

Let's get to work…

Step 1: Ask ChatGPT to explain how you can write a comprehensive business plan. The idea is to first learn what makes a good business plan before using AI to speed up the writing process.

Prompt Sample:

"I want to write a business plan for my financial education business. Describe the different sections I need to include to make my business plan comprehensive."

Step 2: You can add insights you gained from your idea validation phase. The idea here is to feed ChatGPT with information that is relevant to your business needs. You can ask ChatGPT to respond YES, so you are sure it understands you.

Prompt Sample:

"I will provide drafts of research insights I have for my business so you can leverage them to create a detailed business plan for me. Please type YES if you understand."

Step 3: Add this prompt and watch ChatGPT do its magic.

Prompt Sample:

"Assist me in crafting a business plan for my financial education startup. Utilize the relevant information above to fill every section of the business plan and make it as accurate as possible."

Final Steps: Refine and add relevant data points

At this phase, you should have a comprehensive framework to guide your business plan writing process. Keep in mind that a detailed business plan is more technical than article writing; hence, there is a limit to how much accuracy AI can provide.

Do well to leverage AI in your research process and cross-check especially your facts and figures.