OK! You’ve got a business idea. It’s based or skills, strengths and what you enjoy doing. It’s been through the gauntlet of confirming market demand. It’s ready for the limelight.
We’ll now look at how to transition from an idea to actually launching.
Building a business is a complex task. There are lots of moving parts and it’s easy to become overwhelmed by it all.
For this reason I constructed the BATON framework.
It’s a useful tool for providing structure to an otherwise impossibly complex task.
BATON stands for:
Business
Audience
Tribe
Offer
Network
Any venture can be broken down into:
Business – creating a product or service people want or need
Audience – attracting attention to your product or service
Tribe – establishing demand for your product or service with a smaller subset of the audience
Offer – selling your product or service to your tribe
Network – scaling the business to increase revenue
Over the last few Parts you’ve covered the basics of Business, the first component of BATON.
The next steps are to build an Audience, build trust and demand by focusing on a smaller Tribe, make sales of your Offer and then scale via Network effects.
Use this prompt to give you BATON steps for your idea:
Act as an expert business consultant.
Use the BATON framework to suggest structured next steps for my business idea.
BATON includes
Business – creating a product or service people want or need
Audience – attracting attention to your product or service via social media, advertising, events etc.
Tribe – establishing demand for your product or service with a smaller subset of the audience via newsletter, membership community, email marketing etc.
Offer – selling your product or service to your tribe
Network – scaling the business to increase revenue either by selling more to the same customers or selling to more customers.
I will provide you with the Business component.
Use this framework to build the next steps following the Business component I provide., suggesting ONE suggested action plan for Audience, Tribe, Offer and Network.
Business = [copy paste business idea, description]
I ran the prompt with
AI-Driven Sustainable Urban Farming Kits
Description: Develop a DIY urban farming kit, complete with sensors and an AI-driven app. This would allow city dwellers to grow their food sustainably. The sensors would monitor plant health, soil moisture, light levels, and more. The AI app would teach users how to care for their plants, troubleshoot issues, and optimise yields.
Potential Revenue Streams: Sales of the kits, subscription to premium app features, selling additional accessories and add-ons (like seeds, soil enhancements), and partnerships with organic suppliers.
Benefits: This encourages urban agriculture, reduces the carbon footprint associated with transporting food, and educates users on sustainable farming practices.
ChatGPT uses the framework to suggest alternatives for each stage of BATON.
Obviously you can do many strategies at each stage. For example for Audience you could use Facebook, X, LinkedIn, Pinterest or any other social media platform. You could also rely more on a blog and SEO (search engine optimisation) so that Google sends you traffic. Or you could use direct advertising and cold outreach.
There are a multitude of options - regardless of the option though they fit within the stage by stage framework of BATON, making the whole process more structured.