10 AI Prompts for Business Plan Brilliance

Guest Blog by Sean Makulowich, IdeaFire

December isn’t just about ugly sweaters, stuffing your face with candy canes, or rewatching Elf for the 147th time – it’s also National Business Plan Month! As the holiday season reminds us to be merry and bright, there’s no better time to get your entrepreneurial ducks in a row before the new year than by writing or revising your business plan. If writing one feels about as exciting as going to the dentist for a cavity, you’re not alone. Fear not – IdeaFire and Generative AI are here to serve as your trusty sidekicks and help you transform your vision into a well-structured plan that can impress investors, business partners, and even your most skeptical relatives.
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A business plan is not just another business document –  it’s your playbook, pitch deck, and financial compass all rolled into one. It is imperative that your business plan is well-written, highlights your business in all the right ways, and includes some critical information so that anyone reading it takes you and your business seriously. Before we dive it, I’d be remiss if I didn’t strongly suggest that you have an experienced attorney review your business plan once it’s complete to make sure that you have all the required language included and presented properly.

Ok, now for the fun part. Below, I’ll break down the essential elements of a business plan, explain how Generative AI tools such as ChatGPT, Gemini, Claude, etc. can simplify each section with specific prompts, and I’ll even give you a few tips to sprinkle some Shark Tank magic into your masterpiece. Lastly, wherever you see brackets “[ ]” in a prompt below, this is where you need to add specific information about your business. Are you ready? Let’s go!
 
The Essential Elements of a Business Plan (with AI Prompts for Each Section)

1. Executive Summary
   The elevator pitch for your business.
   • What’s Included: A concise overview of your business idea, mission, vision, unique selling proposition (USP), and key goals.
   • AI Prompt:
     “I am developing a business plan for [my company/the company I plan to launch]. For context reference, my company website is [website URL]. Write an executive summary for a [specific business type] targeting [audience]. Emphasize the unique selling proposition, growth objectives, target market, and competitive advantage while maintaining a professional and engaging tone. Summarize key financial metrics and milestones. If any information is missing or could be expanded, please highlight those areas, and suggest what additional details I can provide to make the executive summary more impactful and comprehensive.”
   • Pro Tip: Think of this as your LinkedIn bio, but with fewer buzzwords and more substance. Investors need to be hooked here, so make it memorable and compelling.
2. Company Description
   Who you are and why you exist.
   • What’s Included: Your company’s name, structure, history, mission, and vision. Highlight the problem you solve and how you’re uniquely positioned to solve it.
   • AI Prompt:
     “I am working on the company overview section of my business plan and need help crafting a detailed description. Here is some information on the company:
     • Legal structure: [LLC, corporation, etc.]
     • Product/service: [brief description]
     • Unique value proposition for customers: [brief description]
     • Company’s location: [brick-and-mortar address, online, or both]
     • Key stakeholders: [list key personnel]
     • How the business will operate: [brief description]
     • Can you help me draft a company overview using this information? If any important details are missing, please create a bulleted list and suggest how I can make the description more comprehensive.”
   • Pro Tip: Add a touch of humanity. Share the why behind your business and reinforce your passion in building this business – it resonates with your audience more than you think.
3. Management Team
   Your dream team in focus.
   • What’s Included: Your leadership team and key roles. Include short bios for top leaders and why they’re uniquely suited for their roles.
   • AI Prompt:
     “I am working on the management team section of my business plan. Highlight key team members such as [list key personnel], their expertise [include short bios], and their roles in achieving the business’s mission and goals. Include why this team is well-equipped to succeed in the market.”
   • Pro Tip: Think Ocean’s Eleven – show how each team member has a special skill that brings the whole operation together.
4. Products or Services
   What you offer and why it matters.
   • What’s Included: A detailed description of your products/services, benefits, pricing, and how they meet market needs.
   • AI Prompt:
     “I am working on the Products and Services section of my business plan and need help crafting a product/service description for [specific offerings]. Focus on the unique features, benefits to the customer, and how it solves a specific problem. Include competitive advantages and a pricing strategy.”
   • Pro Tip: Use vivid language to describe your offerings. You’re not just selling coffee; you’re offering “handcrafted, ethically sourced, flavor-packed brews that kickstart mornings with purpose.”
5. Market Analysis
   Prove you know your market top to bottom.
   • What’s Included: Detailed insights into your target market, customer demographics, industry trends, and potential opportunities for growth.
   • AI Prompt:
     “I am working on the market analysis section of my business plan and need help identifying and describing my target market. Here are the key details about my business:
     • Product or service description:
     • Unique value or benefit it provides to customers:
     • Existing research or insights about the market or customer demographics:
     • Geographic location or regions I plan to serve:
     • Pricing strategy and product positioning:
     • Using this information, can you help me describe the ideal customer profile (ICP) and target market segments for my business? Please also suggest any additional information that would help make the target market analysis more precise.”
   • Pro Tip: Use AI to identify trends you haven’t considered – like untapped customer segments or emerging competitors.
6. Competitive Analysis
   How you stack up against your competition.
   • What’s Included: Your list of competitors—direct, indirect, and aspirational—and summarizes who they are, what they offer, and who they serve.
   • AI Prompt:
     I'm working on the competitive analysis section of my business plan and need help identifying and analyzing competitors. My business offers [briefly describe your business]. My customers are [brief description, including geographic location, if relevant]. I’d like you to help me identify the following:
     • Direct competitors (businesses offering similar products/services) and provide a brief summary of their strengths and weaknesses.
     • Indirect competitors (businesses offering alternatives to my product/service) and outline their strengths and weaknesses.
     • Aspirational competitors (companies I’m not competing with now but aspire to be like) and explain what makes them successful.
     • Finally, can you help identify any market opportunities based on this competitive analysis?
   • Pro Tip: This section of your business plan should inform readers about the competitive landscape and highlight opportunities in the market.
7. Marketing and Sales Strategy
   How you’ll get customers and keep them.
   • What’s Included: Marketing channels, customer acquisition tactics, and retention strategies. Don’t forget pricing and distribution plans.
   • AI Prompt:
     “I am working on the marketing and sales strategy section of my business plan. I need help creating a detailed marketing and sales strategy for a [business type] targeting [specific audience]. Include innovative marketing campaigns, customer acquisition strategies, retention methods, pricing models, and distribution channels.”
   • Pro Tip: Don’t just follow trends – leverage AI to uncover marketing ideas and growth hacking tactics that fit your brand and audience. TikTok is not for everyone, but a clever YouTube, or email campaign usually works well for most business types.
8. Financial Projections
   Show me the money.
   • What’s Included: Revenue forecasts, cost estimates, profit margins, and funding requests. Show how you’ll use funding to grow.
   • AI Prompt:
     “Generate a detailed three-year financial projection for a [specific business type]. Include revenue streams, operating expenses, gross profit margins, and funding requirements. Highlight how these projections align with industry standards and growth targets.”
   • Pro Tip: Even if your math isn’t your forte, AI can help turn rough guesses into polished projections. Just make sure they’re grounded in reality.
9. SWOT Analysis
   Your business at a glance.
   • What’s Included: A clear breakdown of strengths, weaknesses, opportunities, and threats.
   • AI Prompt:
     “Generate a SWOT analysis for [business type]. Focus on internal strengths and weaknesses, external opportunities, and threats, and provide recommendations for addressing weaknesses and leveraging opportunities.”
   • Pro Tip: Treat this like your reality check. Use it to plan ahead for challenges and double down on strengths.
10. Appendices
    Supporting documents and extras.
    • What’s Included: Charts, graphs, legal docs, resumes, or any other supporting material.
    • AI Prompt:
      “Create a list of suggested appendices for a [specific business type] business plan. Include supporting documentation such as charts, resumes, legal agreements, or detailed product specs.”
    • Pro Tip: Keep it neat. Appendices are for reference, not clutter.

 
Tips for Making the Most of Generative AI

• Don't just copy & paste: Use AI-generated content as a starting point to craft your business plan outline – not as the final draft. Always remember to review, revise, and customize anything that a Large Language Model (LLM) generates for you so that it uses your ‘voice,’ tone, brand personality, expertise, and insights to make it uniquely your own.
• Give specific prompts: The more details you provide, the better the AI can tailor its output, and the less time you’ll have to spend iterating with the robots to get it just right. Include specific details about your business, audience, and goals.

• Review for accuracy: Double-check facts, especially numbers and industry trends. AI is brilliant, but far from perfect and still prone to hallucination. Reminder: have an experienced attorney review your business plan.

 
When in Doubt, Call In the Experts – IdeaFire Is Here to Help!
Still feeling stuck? That's where IdeaFire comes in. At IdeaFire, we specialize in helping entrepreneurs, startups, SMBs, and global enterprise organizations leverage the power of Generative AI and the latest digital marketing tactics to grow their businesses. From helping clients craft compelling business plans and investor pitch decks, to building tailored marketing and advertising strategies that fuel growth and success, IdeaFire’s got your back!
Visit us at IdeaFire.com to learn more about how IdeaFire can help ignite your brand and leverage the latest generative AI tools to grow your business, boost productivity, and enhance operational efficiency.

This National Business Plan Month, remember: a great business plan is the first step to great success. With AI as your co-pilot and IdeaFire as your guide, you'll be properly equipped for rapid growth.

So, grab your coffee, tea, or a cocktail (no judgment), fire up that laptop, and let's make some magic happen! After all, failing to plan is planning to fail – and you're not about to let that happen… are you?