I asked ChatGPT how to start a business and it gave me 8 steps which weren’t very helpful

  • I asked the artificial intelligence tool ChatGPT to help me start a business.
  • The chatbot’s responses were generic and lacking in important details.
  • But when I asked more specific questions, he tailored his answers to the type of business.
  • For more stories, go to www.BusinessInsider.co.za.

Everyone is asking ChatGPT to do something for them – which is no surprise, as artificial intelligence is set to be a game-changer for businesses in 2023.

If you’re unfamiliar with the tool, imagine typing a question into Google’s search bar, but rather than sending you a highlighted answer followed by pages of search results, it answers in a pop-up window. private discussion. It uses information stored in books, articles, and websites to give you an answer, in full sentences and paragraphs.

ChatGPT, which is free to use, was launched in November as a research prototype. Professionals used it to write cover letters, and students used it to write their articles — then New York City banned the app from public school devices and networks.

ChatGPT may be able to write an essay in English, but there are some things it cannot do, such as helping you start a business.

Although very smart, ChatGPT is just a chatbot; I knew he couldn’t physically start a business for me. But I was wondering if this would at least guide me through the initial stages.

So I asked this AI program a series of questions about starting a business.

Here’s how it went.

8 Generic Steps to Starting a Business

The main page where you can request information from ChatGPT.

When I first visited the site, ChatGPT served me a 404 page – the regular crashes are a side effect of its sudden popularity. I refreshed the page a few hours later and was finally able to log in.

ChatGPT doesn’t do a lot of heavy lifting. His answers tend to be formulaic and general, 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 difficult but rewarding process. Here are some steps to get you started:

  1. Develop a business idea: Identify a problem or need in the market that your business can solve. Conduct market research to validate demand for your product or service.
  2. Create a business plan: Develop a detailed business plan including financial projections, a marketing strategy and a plan for building your business.
  3. Raise funds: Determine how much capital you will need to start your business and obtain financing through investors, loans or personal savings.
  4. Register your business: Register your business with the appropriate government agencies and obtain the necessary licenses and permits.
  5. Build a team: Hire employees or contractors to help run your business, if necessary.
  6. Configure your business operations: Establish the legal structure of your business, obtain any necessary commercial insurance and configure your accounting and financial systems.
  7. Develop a marketing plan: Develop a marketing plan that outlines how you will reach your target market and promote your business.
  8. Launch your business: Launch 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 in place to increase your chances of success.

ChatGPT can adapt its answers to the type of business

ChatGPT answers how much it costs to start a laundromat business.

After asking the chatbot how to start a business, I tried more specific questions, like “How to start a vending machine business?” and “How to start a laundromat business?”

These prompts led to slightly more detailed responses tailored to the type of business, though they still follow the same eight-step format. He suggested identifying potential locations for vending machines and hiring laundry staff.

Finally, I tested ChatGPT’s knowledge of start-up costs. He described six general costs such as equipment, legal fees and renovation.

In conclusion, ChatGPT isn’t a great source for your deepest business questions answered, but it could be a useful starting point for gathering ideas, getting cost estimates, and defining your business plan.

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