70 ChatGPT Prompts For Spotting Lucrative Business Ideas

You want to embark on your entrepreneurial journey but don’t know where to begin?

ChatGPT is the world’s most potent sparring partner, allowing you to figure out what industries and products to go after.

In fact, I used it myself prior to starting Bot & Human (and now I’m one of those poor writers barely scraping by LOL). But enough about me – let’s talk some business.

Here are 70 ChatGPT prompts to help you ideate on businesses you could start while figuring out common pitfalls to avoid.

Prompts To Identify Customer Pain Points

The best businesses in the world solve pain points, which customers are ideally willing to pay for.

Here are 12 prompts to identify common pain points businesses and consumers face:

List common daily challenges faced by a wide range of people that haven't been adequately addressed by current market offerings.

Explore recent shifts in consumer habits and preferences and how they could lead to new business opportunities.

What are some inefficiencies in current business operations across various sectors that a new solution could eliminate?

Consider global challenges facing people today; what business ideas could contribute to solutions?

What are common complaints about services in industries like [insert industry] that a new business could solve?

What are common complaints about services in industries like [insert industry] that a new business could solve?

Where do consumers face complexity in [insert system or process] that could be simplified?

Explore sectors with notoriously poor customer service experiences and how a business could significantly improve [insert aspect].

In what areas do consumers feel [insert product/service] lack personalization, and how could a new business offer a tailored solution?

What are the shortcomings in current feedback and communication channels within [insert industry], and how could a new business improve this interaction?

What are common barriers people face in achieving their health and wellness goals with [insert product/service], and how could a business help overcome them?

Where are there gaps in educational resources for [insert topic/subject], and how could a new business address this need?

Prompts To Discover Emerging Industries

Another method to come up with winning business ideas is to surf waves of emerging and society-altering technologies (think Bitcoin in the early 2010s).

Here are 12 prompts to find industries and technologies that are growing at a rapid pace:

Identify ways emerging technology can be applied to traditional industries to revolutionize products or services.

What are the latest tech trends emerging in sectors like [insert sector] that show promise for disruption?

Identify growth areas in technology that could impact industries such as [insert industry] in the next few years.

Where are the opportunities for innovation within [insert industry] that could be driven by new technology?

What emerging technologies are beginning to play a significant role in sectors like [insert sector]?

Identify technologies developed in one industry that could be revolutionary if applied in another, such as [insert industry].

Conduct a market analysis to identify emerging industries with significant growth potential in the next five years.

Identify industries that are benefiting from current global economic trends and project their growth trajectory.

What industries have seen growth acceleration as a result of the increasing trend towards remote work?

Identify industries that are being propelled by recent innovations and analyze the potential for future growth.

How are demographic changes, such as aging populations or urbanization, driving growth in specific industries?

Which industries are attracting significant investment and funding, indicating potential for rapid growth?

Prompts To Match Ideas With Your Strengths

Alright, now that we’ve loosely identified the problem that we want to tackle, it’s time to validate whether you are the right person to solve said issue.

Here are 11 prompts to designed to assess your strengths and weaknesses when it comes to a particular business idea:

Given my idea to [describe idea], what essential skills do I need, and how can I evaluate my current strengths and weaknesses in these areas?

For my project involving [mention technology/problem], what skills are critical for success, and how can I identify any gaps in my skillset?

What are the key factors I should consider when evaluating potential co-founders' compatibility with me and my vision for [describe business idea]? How can I assess alignment in values, work ethic, and vision?

Considering the skills required for implementing [describe idea], which skills am I missing, and how should I go about finding the right collaborators or team members?

How relevant is my background in [mention your background] to successfully executing an idea related to [describe idea/problem]? What additional skills should I focus on?

For my idea focusing on [describe idea/problem], what type of mentorship or guidance should I seek to complement my existing skills and knowledge?

What are the potential risks in pursuing [describe idea] due to my current skill limitations, and how can I mitigate these through personal development?

What are my strongest skills relevant to [describe idea/problem], and how can I leverage these effectively in the development and execution of my idea?

Given the rapidly changing nature of [mention industry/technology], how can I assess my adaptability and continuous learning capability to stay relevant?

Considering the need for [mention specific skills] in my project on [describe idea], how can I engage with communities or networks to develop these skills or find partners?

What qualities and skills should I look for in a co-founder that would complement my own abilities for a project focused on [describe project/idea]?

Prompts To Validate Business Ideas

You’ve found a problem potentially worth solving and aligned it with your strengths.

Now it’s time to validate the idea in the real world using data from a variety of different sources.

Here are 15 prompts to validate business ideas:

How can I conduct a survey or poll to assess market demand for my business idea related to [describe idea]?

What steps should I take to perform a comprehensive competitive analysis for [describe business idea] in the [specify industry]?

Can you help me create a guide for conducting customer interviews that will validate the need for my [describe product/service]?

What are the key elements I should include in a test landing page to validate interest in my [describe product/service] idea?

How can I develop a prototype of my [describe product/service] and collect feedback from potential users?

What resources or tools can I use to analyze current market trends relevant to my [describe business idea]?

How can I identify and engage with early adopters for my [specify product/service]?

Which social media validation techniques are effective for gauging interest in [describe business idea]?

Can you guide me on setting up a crowdfunding campaign to validate and fund my [describe business idea]?

How can I use SEO and keyword research to gauge market interest in the [specify industry/sector] for my [describe product/service]?

What is the best way to form a focus group for my [describe product/service], and how should I interpret the feedback?

How can I explore partnership or collaboration opportunities to validate and support my business idea in [specify industry]?

Which online forums and communities are best for discussing and validating ideas related to [describe industry/field]?

Can you provide guidance on setting up Google Ads to test market interest in my [describe product/service]?

What methodology can I use to analyze potential sales channels for distributing my [describe product/service]?

Prompts To Identify Business Model Strategy

After validating the feasibility and attractiveness of your idea, it’s time to figure out how to make some money.

Here are 10 prompts to come up with a profitable business model strategy:

What potential revenue streams should I consider for my [describe business idea], and how can I evaluate their viability?

Can you help me analyze the cost structure of delivering my [describe product/service], including fixed and variable costs?

What factors should I consider when developing a pricing strategy for my [describe product/service] to balance competitiveness and profitability?

How can I ensure operational efficiency in delivering my [describe product/service], and what tools or processes should I implement?

What are the core components of a successful business model for a venture like mine in [insert idea]?

Which revenue model (subscription, freemium, direct sales, etc.) best aligns with my [insert product/service] and target market's preferences?

What strategies should I consider for scaling my [describe business idea] and ensuring sustainable growth?

What are the most efficient and cost-effective distribution and delivery channels for reaching my customers with [insert product/service]?

What tools and methodologies should I use for financial planning and projections in my business model strategy?

What are the key considerations for scaling and expanding my business model geographically or into new market segments?

Prompts To Identify Limitations & Risks

Lastly, you also want to be aware of any potential problems your business idea may encounter.

Here are 10 prompts to identify risks and limitations of your business:

What market risks could potentially impact the success of my [insert product/service], and how can I mitigate them?

Are there any technological limitations or challenges that could hinder the development or scaling of my [insert product/service]?

What factors might prevent my target customers from adopting my [insert product/service], and how can I address these concerns?

Are there any supply chain or logistics limitations that could affect the delivery of my [insert product/service]?

What financial risks are associated with launching and scaling my [insert product/service], and how can I plan for financial stability?

How can I ensure that my [insert product/service] doesn't infringe on existing intellectual property, and how can I protect my own?

What risks are associated with my [insert product/service]'s dependence on specific technologies or platforms?

Is there a risk of market saturation for my [insert product/service], and how can I ensure it stands out in a crowded market?

What are the potential challenges in retaining customers for my [insert product/service], and how can I build loyalty?

What operational risks should I be aware of when planning to scale my [insert product/service]?

Wrapping Up

If you loved these prompts for validating business ideas, why not check out some related content?

Here are other business and branding-related prompts:

• 100 actionable ChatGPT prompts for marketing activities
• 30 clever prompts to create brandable business names

Let me know if you used any of the prompts listed here and how they helped you in coming up with a suitable business strategy.