- I asked the ChatGPT artificial intelligence tool to help me start a business.
- The chatbot’s responses were generic and lacked important details.
- But when I asked more specific questions, he catered his answers to the type of business.
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If you’re unfamiliar with the tool, imagine typing a question into the Google search bar, but instead of sending it to a highlighted answer followed by search results pages, you answer in a private chat window. It uses stored information from books, articles, and websites to give you an answer, in complete sentences and paragraphs.
ChatGPT, which is free to use, was released in November as a research prototype. Professionals have used it for write cover lettersand students have used it to write your papers – after New York City banned the app from public school devices and networks.
ChatGPT can write an essay in English, but there are some things it can’t do, like help you start a business.
While very smart, ChatGPT is just a chatbot; I knew that I couldn’t physically start a business for myself. But I was wondering if you would at least guide me through the initial steps.
So I asked this AI program a series of questions about starting a business.
That’s how it was.
8 generic steps to start a business
When I first visited the site, ChatGPT sent me a 404 page – Regular interruptions are a secondary effect of his sudden popularity. I refreshed the page a few hours later and was finally able to log in.
ChatGPT doesn’t do much of the heavy lifting. Their answers tend to be formulaic and broad, uninspired, and leave out a lot of useful information.
When I asked ChatGPT how to start a business, it gave me the following eight generic steps:
Starting a business can be a challenging but rewarding process. Here are some steps to help you get started:
- Develop a business idea: Identify a problem or need in the market that your business can solve. Conduct market research to validate the demand for your product or service.
- Create a business plan: Develop a detailed business plan that includes financial projections, marketing strategy, and a plan for establishing your business.
- Increase capital: Determine how much capital you will need to start your business and secure financing through investors, loans or personal savings.
- Register your business: Register your business with the appropriate government agencies and obtain the necessary licenses and permits.
- Build a team: Hire employees or contractors to help you run your business, if necessary.
- Set up your business operations: Establish the legal structure of your business, obtain any necessary business insurance, and set up your accounting and financial systems.
- Develop a marketing plan: Develop a marketing plan that outlines how you will reach your target market and promote your business.
- Launch your business: Start your business and be prepared to adapt your business plan as you learn more about the market and your customers.
Starting a business requires hard work, dedication, and the ability to adapt to change. It also requires a good understanding of the market, competition, and legal requirements. It’s important to have a solid plan, a clear vision, and the right team to increase your chances of success.
ChatGPT can attend your responses to the type of business
After asking the chatbot how to start a business, I tried more specific questions like “How do I start a vending machine business?” and “How do I start a laundry business?”
These prompts led to slightly more detailed answers tailored to the type of business, although they still follow the same eight-step format. He suggested identifying potential vending machine locations and hiring laundry staff.
Finally, I tested ChatGPT’s knowledge of startup costs. He outlined six overhead costs, such as equipment, legal fees, and renovation.
In conclusion, ChatGPT isn’t a great source of answers to your deepest business questions, but it could be a useful starting point for brainstorming, cost estimates, and outlining your business plan.