We’re now going to pull together these two lists (what you’re good at and what you love doing) and combine them in another prompt.
This prompt will ask for both the lists that we’ve just generated and then combine them along with what people will pay for and what the world needs. Basically it’ll complete the ikigai process for us using our inputs.
Here’s the prompt:
Act as an ikigai coach, helping me to define my business niche.
first step: request a list of what I am good at (skills) and what I love (interests)
second step: combine this with what people will pay for (market) and what the world needs (impact)
to create a list of 25 potential business niches I could explore.
priority = market, skills, interests, impact
This will take all the work you’ve done and generate a list of 25 potential business niches. Here’s an example:
Nice. I already see some good potentials here.
But now we have a problem. We have too many ideas!
That’s not what we want. Some of you already have the problem of having too many ideas. And we just created another 50. Disaster!
First go through and remove any that you are simply not interested in. Manually cleaning the list now will help with the analysis.
For best results use GPT-4’s Advanced Data Analysis tool. This is available in the premium version of Chat GPT. If you do not have this then feed 10 ideas at a time into the prompt then compile all the outputs manually afterwards.
Here is the prompt:
Act as a market researcher. I'm going to provide you with a list of business ideas.
Rate them in terms of Market size, Market Demand, Competition, Cost to start, Profitability, Scalability.
Give each component a score out of 100.
Calculate a composite score for each.
Return result in tabular format.
[copy/paste list of business ideas]
This prompt will process each of the business ideas and analyse their feasibility as businesses.
It will give each a score - you can use these scores to gauge the ideas against each other.
Combine ChatGPT’s results with your own knowledge - we’re using the AI to help the process, not take over from us.
The main thing here is we want to narrow down our list to 2-3 possibilities.
Once you’ve got just a small handful use this prompt:
Act as a business strategist.
Based on the scoring criteria how could I increase the score of the idea [name of the idea]
For each individual score give me details of how best to increase the score.
Provide an improve descripton of the business niche that would result in this higher score
This will take the business idea and apply improvements.
Here is an example of the idea “Entrepreneurship mentoring with a focus on AI innovations” being improved:
ChatGPT takes each criteria (market size, demand, competition etc.) and devise improvements.
Use these to further refine the business idea. The more precise and focused the better.
In this example the idea gets improved to:
We’ve come a long way from the generic “Entrepreneurship mentoring with a focus on AI innovations”!
The idea is now fully fleshed out, has a target market and suggestions for its products and services.