I asked ChatGPT how to start a business and she gave me 8 steps that weren’t helpful

  • I asked the ChatGPT AI tool to help me start a business.
  • The chatbot’s answers were generic and lacked important detail.
  • But when I asked more specific questions, she catered her answers to the type of work.
  • For more stories, go to www.BusinessInsider.co.za.

Everyone is asking ChatGPT to do something for them – which is not surprising, as AI is expected to be a game-changer for business in 2023.

If you’re not familiar with the tool, imagine typing a question into the Google search bar, but instead of sending you a highlighted answer followed by pages of search results, it speaks back in a private chat window. It uses information stored from books, articles, and websites to give you an answer in complete sentences and paragraphs.

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

ChatGPT might be able to write an article in English, but there are some things it can’t do, like help you start a business.

While very smart, ChatGPT is nothing more than a chatbot; I knew he couldn’t actually start a business for me. But I wondered if he would at least lead me through the initial steps.

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

Here’s how it went.

8 general steps to starting a business

Home page where you can ask ChatGPT for information.

When I first visited the site, ChatGPT gave me a 404 page – the regular outages 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 the heavy lifting. Her responses tend to be formulaic and broad, lack inspiration, and leave out a lot of useful information.

When I asked ChatGPT how to start a business, it gave me the following 8 general steps:

Starting a business can be a challenging but rewarding process. Here are some steps to help you get started:

  1. Develop a business idea: Identify a problem or need in the marketplace that your business can solve. Conduct market research to validate the demand for your product or service.
  2. Create an action plan: Create a detailed business plan that includes financial projections, marketing strategy, and a plan to establish your business.
  3. Capital increase: Determine the amount of capital you will need to start your business and secure financing through investors, loans or personal savings.
  4. Your work history: Register your business with the appropriate government agencies and obtain the necessary licenses and permits.
  5. Team building: Hire employees or contractors to help you run your business, if necessary.
  6. Set up your business operations: Create the legal structure for your business, obtain any necessary business insurance, and set up your accounting and financial systems.
  7. Develop a marketing plan: Create a marketing plan that outlines how you will reach your target market and promote your business.
  8. start your business: Get your business started, and be prepared to adapt your business plan as you learn more about your 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 is important to have a solid plan, clear vision and the right team to increase your chances of success.

ChatGPT can cater to its answers by type of business

ChatGPT answers the cost of starting a laundry business.

After I asked the chatbot how to start a business, I tried more specific questions, such as “How do I start a vending machine business?” and “How do I start a laundry business?”

These prompts led to slightly more detailed answers that fit the type of work, though they still fit within the same eight-step format. It suggested identifying possible locations for vending machines and hiring staff for the laundries.

Finally, I tested ChatGPT’s knowledge of startup costs. It identified six overhead costs such as equipment, legal fees, and renewal.

In conclusion, ChatGPT is not only a great resource for getting answers to your deep business questions, but it can be a useful starting point for gathering ideas, getting cost estimates, and outlining your business plan.

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