Find your profitable startup Plan
Use these prompts to generate innovative ideas grounded in solid reasoning. Simply copy, paste, and edit the content within the square brackets in ChatGPT, and keep the same chat window open to maintain context.
Find profitable startups Ideas
Find Audience problem
Defining your startup's target audience is the first crucial step. Maybe you already serve this audience with another service, are part of this audience yourself, or know many people with specific commonalities. By defining your audience, you can identify a pain point your startup can address. No pain, no profit. Use ChatGPT to help identify both the audience and their pain points.
“I’m starting a business and want to clearly define my target audience
and their pain points. Acting as a business coach, ask me questions one by one about the type of people I am familiar with or already have in my network. Start by asking me to describe them, then proceed to ask about the pains they experience that I am aware of. After seven questions, provide a description of this audience and list their top 20 problems. My task is to select the top three problems, which will form the basis for the next steps in generating startup ideas. Do not generate any startup ideas until I give the go-ahead.”
Set Your Parameters
You’ve identified the problems you want to solve for a specific group of people. Now, ensure your business doesn't create issues for you. The next step is to define your parameters to find ideas that align with your goals. Before launching Coachvox, I established seven rules for my next venture, such as it being location-independent, focused on personal development, beneficial to the planet, and having the potential to become a $100 million business. Establish your own criteria before generating ideas.
Now we will define the parameters that our business ideas should meet. Acting as a business analyst, ask me questions about the type of startup I want to create, covering aspects like its potential, location, delivery, and industry. After 7 questions, generate a set of 7 parameters (also known as rules or boundaries) that our business ideas must adhere to. Do not generate any ideas until I give the go-ahead; only establish the rules.
Solve the Problem
Now, let's combine the previous steps. Find solutions for your target audience's top three problems within the boundaries you’ve defined. Ask ChatGPT to run the experiment and generate potential solutions. As you read through the list, imagine yourself running that business, announcing it to your network, and working on it every day. Pay attention to how each idea makes you feel and visualize the daily experience of managing that business.
Filter Bad Ideas
In theory, you have six good ideas. Keep these in mind for later. But first, let’s dive into a thought experiment. ChatGPT can generate bizarre and outlandish ideas, including ones that are outright terrible. By exploring these bad ideas, you can get your brain working in a different way, potentially sparking some great ideas of your own. Plus, recognizing these terrible concepts will help you avoid similar pitfalls in your ventures.
Thought Experiment:
Your task is to combine:
1. The target audience description
2. The top three problems identified
3. The parameters outlined
Use these elements to create six absolutely terrible startup ideas. These ideas should be so bad that they have no chance of succeeding. Have some fun with this challenge and present each awful idea with a value proposition aimed at the target audience, followed by a brief description of the startup and its function.
This exercise will not only entertain but also inspire you to think creatively and critically about what makes a startup idea truly viable.
Link Ideas to Revenue
Now that you have six good ideas and six bad ones, it’s time to dive into the details of your favorite idea and figure out how to turn it into a lucrative venture. Identify which idea you like the most and explain why, then brainstorm how it can generate significant revenue. Consider aspects such as capacity, pricing, and crafting compelling sales copy to start generating interest immediately. You don’t need to build anything right now—focus on gathering expressions of interest from potential buyers.
Revenue Exploration:
From the ideas you suggested, let’s explore these ones further: [specify which you want to expand]. For each one, suggest the offer. Your task is to:
1. Create a detailed description of what is for sale.
2. Identify the absolute perfect customer.
3. Explain the reason someone should buy.
4. Describe how it’s delivered in terms of time or other resources.
5. Estimate the potential revenue in the first year.
This exercise will help you pre-sell the startup before it’s built and provide you with the motivation to begin.
Here are five profitable startup plans By ChatGPT
1. Eco-Friendly Packaging Solutions
Description:
Provide sustainable, biodegradable packaging alternatives for businesses aiming to reduce their environmental impact.
Perfect Customer:
Eco-conscious businesses in the food, retail, and e-commerce industries seeking to minimize their carbon footprint.
Reason to Buy:
Consumers increasingly prefer brands that demonstrate environmental responsibility. Eco-friendly packaging can enhance brand image and appeal to a growing segment of eco-aware customers.
Delivery:
Packaging solutions are delivered on a subscription basis, ensuring a steady supply to customers. Orders can be customized and delivered monthly.
Revenue Potential:
Pricing:$0.10 per unit for biodegradable packaging.
Capacity:500,000 units per month.
First-Year Revenue: $600,000 (assuming 500,000 units sold per month).
2. Virtual Health Coaching
Description:
Offer personalized virtual health and wellness coaching services to individuals looking to improve their lifestyle, fitness, and mental well-being.
Perfect Customer:
Busy professionals, remote workers, and health-conscious individuals seeking convenient, personalized wellness guidance.
Reason to Buy:
Access to expert advice, tailored fitness plans, and mental health support from the comfort of home. The rise of telehealth makes virtual coaching a practical and desirable option.
Delivery:
Coaching sessions are conducted via video calls, with follow-up support through a dedicated app. Clients can choose from monthly, quarterly, or annual plans.
Revenue Potential:
Pricing:$150 per month per client.
Capacity:200 clients per month.
First-Year Revenue:$360,000 (assuming 200 clients per month).
3. AI-Powered Market Research
Description:
Develop an AI-driven platform that provides businesses with real-time market insights, trend analysis, and consumer behavior predictions.
Perfect Customer:
Small to medium-sized enterprises (SMEs) and marketing agencies needing affordable, data-driven market research solutions.
Reason to Buy:
AI-powered insights enable businesses to make informed decisions, optimize marketing strategies, and stay ahead of competitors.
Delivery:
The platform is accessible through a subscription model, with different tiers based on the depth of analysis and number of users.
Revenue Potential:
Pricing: $500 per month for premium access.
Capacity:100 businesses.
First-Year Revenue: $600,000 (assuming 100 subscriptions sold monthly).
4.Remote Team Building Experiences
Description:
Create and facilitate engaging virtual team-building activities and workshops designed to enhance collaboration and morale among remote teams.
Perfect Customer:
Companies with remote or hybrid workforces looking to maintain team cohesion and employee engagement.
Reason to Buy:
Maintaining a strong company culture and team spirit is challenging in remote settings. Fun and interactive team-building activities can boost morale and productivity.
Delivery:
Workshops and activities are conducted via video conferencing platforms, with packages available for one-time events or ongoing engagement programs.
Revenue Potential:
Pricing:$2,000 per event.
Capacity: 10 events per month.
First-Year Revenue: $240,000 (assuming 10 events per month).
5. Smart Home Energy Management
Description:
Offer a smart home system that monitors and optimizes energy usage, reducing utility bills and promoting energy efficiency.
Perfect Customer:
Homeowners and property managers interested in reducing energy costs and adopting sustainable living practices.
Reason to Buy:
Smart energy management systems provide cost savings, environmental benefits, and the convenience of automated home control.
Delivery:
The system is sold as a one-time installation with ongoing support and updates available through a service contract.
Revenue Potential:
Pricing: $1,200 per system + $10/month for service contract.
Capacity: 50 installations per month.
First-Year Revenue: $720,000 (assuming 50 installations per month and service contracts).
Conclusion:
Turning a great idea into a profitable startup is a journey that requires creativity, strategic thinking, and a deep understanding of your market. By exploring both good and bad ideas, you can sharpen your vision and avoid potential pitfalls. The key is to focus on the most promising concept, thoroughly analyze its revenue potential, and craft a compelling value proposition for your target audience.
Remember, the path to profitability involves meticulous planning of capacity, pricing, and delivery methods. Engaging potential customers early and gathering expressions of interest can validate your idea and fuel your motivation. By pre-selling your concept, you not only test the market but also build a foundation for future growth.
In conclusion, the process of transforming a startup idea into a profitable venture is challenging yet rewarding. Stay focused, be adaptable, and continuously refine your approach. With dedication and the right strategy, your startup can achieve remarkable success and generate substantial revenue in its first year and beyond.
