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Questionnaire

Respond to a series of targeted questions about your business goals and objectives.

AI Business Plan Generator

The engine analyzes your responses and generates a business plan tailored to your vision.

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WHO BENEFITS FROM Plannit?

Aspiring Entrepreneurs

Analyze your ventures through extensive business plans aligned with your vision and goals.

Business Owners

Back your business with a solid plan that aligns with your vision and goals. Perfect for startups and small businesses.

Educational Institutions

Develop your business understanding and vocabulary by analyzing your business idea and creating a plan.

Startups Accelerators

Work alongside your founders as they build their plan to ensure they have a solid roadmap for growth and scalability.

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Funding ready business plan, executive summary, company overview.

Problem Statement

Business Description

Mission Statement

Business Model

Products and Services

Additional Features

Revenue Model

Market Analysis

Target Market

Market Size and Segments

Unique Value Proposition

Risks and Mitigations

Identified Risks

Mitigation Strategies

Financial Overview

Income Statement

Marketing and Sales Plan

Focus On Your Vision

Key features & benefits, ai editing companion.

Modify and regenerate sections of your business plan using premade or custom prompts. Our AI will help you refine your plan to perfection.

Multi-User Collaboration

Invite team members with easy sharing to collaborate on your business plan in real-time. Communicate and make changes together. Collaborate with your partners in real-time as you perfect your plan.

Education Center

Immerse yourself in a rich library of articles, tools, templates, webinars and resources for continuous business and professional growth. Learn all about the key aspects of starting, running and growing a business.

Powered by Chat GPT

Our algorithms are powered the latest in AI technology to ensure the most accurate and relevant output. We use OpenAI's GPT 4 and 3.5 engines for the perfect blend of accuracy and speed.

Business Resources

We recommend a variety of useful tools and resurces that help sustain your growth. We only recommend the best in the business. Filter your needs and equip yourself with the best tools.

Plan Samples

Explore a library of sample business plans we generated to get the idea of what to expect. Currently able to generate viable plans for 50+ industries.

Financial Projections

Take an additional questionnaire about your financial trajectory and get a detailed financial projection + 3 year income statement for your business.

Tools and Templates

Plannit's comprehensive suite that accompany business planning. From pitch decks to financial models, we have you covered.

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PLANNIT BUSINESS ECOSYSTEM

Frequently Asked Questions

What is a business plan and why is it important.

• Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
• Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
• Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
• Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.

How to Write a Business Plan?

• Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
• Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
• Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
• Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
• Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
• Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.

Who Can Benefit from Plannit AI?

• Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
• Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
• Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
• Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
• Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
• Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
• Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
• Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
• Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.

Why is Plannit AI the best choice for an AI business planning software?

• Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
• Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
• Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
• Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
• Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
• Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.

How can ChatGPT help me to create business plans?

• Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
• Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
• Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

Take The First Step Towards Success With our AI-Generated Business Plans

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A Comprehensive AI Business Plan for Startups

• Key Takeaways

According to Gartner, 73% of marketers consider data analytics to be crucial for their marketing strategies in 2024.  

Statista: In 2024, influencer marketing is projected to grow by 20% globally, reaching a market value of $15 billion.  

SEMrush reports that businesses using data-driven marketing strategies experience an average 20% increase in sales conversions.  

Niche influencer marketing, powered by big data analytics, drives targeted audience engagement and boosts sales effectiveness.

Introduction to AI Business Plans

In today’s rapidly evolving business landscape, artificial intelligence (AI) has become a pivotal tool for driving growth and innovation. Businesses across industries are leveraging AI technologies to streamline operations, enhance customer experiences, and gain competitive advantages. As AI continues to reshape the way businesses operate, having a well-structured business plan that incorporates AI strategies is essential for long-term success.

• A Brief Overview of AI in Business

AI encompasses a range of technologies and applications, including machine learning, natural language processing, robotics, and data analytics. In the business context, AI is used to automate repetitive tasks, make data-driven decisions, personalize customer interactions, and improve overall efficiency. Businesses that harness the power of AI can gain valuable insights, optimize processes, and unlock new opportunities for growth.

• Importance of a Well-Structured Business Plan

A well-structured business plan serves as a roadmap for businesses, outlining their goals, strategies, and action plans. When incorporating AI into a business plan, it’s crucial to assess the current state of AI adoption in the industry, identify relevant AI applications, and define clear objectives for integrating AI technologies. A comprehensive business plan not only guides decision-making but also helps secure funding, attract talent, and align stakeholders around a common vision.

Understanding the Startup Landscape

• Current Trends in the Startup Ecosystem
• The startup landscape is witnessing a surge in artificial intelligence (AI) startups leveraging advanced technologies like machine learning and natural language processing.
• Emerging trends such as personalized marketing, AI-powered customer insights, and predictive analytics are reshaping how startups approach marketing.
• Challenges Faced by AI Startups
• Regulatory complexities and compliance issues pose challenges for AI startups, especially in industries like healthcare and finance.
• Data privacy concerns and the ethical use of AI algorithms require startups to navigate carefully to build trust among customers and stakeholders.
• Intense competition in the AI space necessitates startups to differentiate their offerings, establish strong partnerships, and continuously innovate to stay ahead.

Defining Your Vision and Mission

• Clarifying Your Business Objectives
• Startups need to identify their target market segments, understand customer pain points, and align their products or services accordingly.
• Conducting market research, competitor analysis, and customer surveys can provide valuable insights to shape business objectives.
• Articulating Your Mission Statement
• A well-crafted mission statement communicates the company’s purpose, values, and long-term goals to internal and external stakeholders.
• The mission statement should resonate with the target audience, inspire employees, and differentiate the startup from competitors.
• Aligning business objectives with the mission statement helps startups stay focused, motivated, and cohesive in their marketing efforts.

Market Analysis and Research

• Conducting Market Research for AI Ventures

Market analysis and research are crucial steps for AI ventures looking to succeed in a competitive landscape. By conducting thorough market research, businesses can gain valuable insights into industry trends, customer preferences, and competitor strategies. This involves gathering data on market size, growth potential, and key players in the AI industry. By leveraging big data analytics, businesses can analyze vast amounts of information to identify emerging trends and opportunities in the market.

• Analyzing Market Potential and Competition

Once market research is conducted, it’s essential to analyze the market potential and competition. This includes evaluating the demand for AI products and services, understanding customer needs and pain points, and assessing the competitive landscape. Big data analytics can help businesses assess market dynamics, identify potential gaps or niches, and develop strategies to differentiate themselves from competitors. By leveraging data-driven insights, AI ventures can make informed decisions about market entry, product development, and marketing strategies.

Identifying Target Audience and Customer Segments

• Defining Ideal Customer Profiles

Identifying the target audience and defining ideal customer profiles are crucial steps in developing a successful marketing strategy for AI ventures. This involves segmenting the market based on demographics, psychographics, and behavioral factors to identify potential customers who are most likely to benefit from AI solutions. By leveraging big data analytics, businesses can analyze customer data to understand their preferences, behaviors, and purchasing patterns, allowing them to create personalized marketing campaigns that resonate with their target audience.

• Segmenting Your Market for Targeted Approach

Segmenting the market allows AI ventures to adopt a targeted approach in reaching different customer segments. By dividing the market into distinct groups based on common characteristics or needs, businesses can tailor their messaging, products, and services to meet the specific requirements of each segment. Big data analytics plays a critical role in segmenting the market effectively by analyzing customer data and identifying patterns or trends that can inform segmentation strategies. This targeted approach enables AI ventures to maximize their marketing efforts and achieve greater success in acquiring and retaining customers.

Developing Your AI Products or Services

• Conceptualizing AI Solutions

When venturing into AI development, the initial step is conceptualizing innovative solutions that align with your business objectives. This involves identifying pain points or inefficiencies that AI can address effectively. Conducting market research and gathering customer feedback can provide valuable insights into the specific AI functionalities needed to enhance your products or services. By defining clear objectives and use cases, you lay the foundation for developing AI solutions that resonate with your target audience.

• Designing Prototypes and Minimum Viable Products

After conceptualization, the next phase is designing prototypes and minimum viable products (MVPs) to test the feasibility and functionality of your AI solutions. Prototypes allow for iterative refinement based on user feedback and performance evaluations. Developing MVPs enables you to launch scaled-down versions of your AI products or services to gather real-world data and validate market demand. This iterative approach not only accelerates product development but also ensures that your AI solutions meet user expectations and deliver tangible value.

Building Your AI Team

• Recruiting AI Talent

Building a successful AI team starts with recruiting top AI talent with diverse skill sets and domain expertise. Seek professionals with experience in machine learning, data science, software engineering, and domain-specific knowledge relevant to your industry. Utilize AI talent platforms, networking events, and targeted recruitment strategies to attract qualified candidates. Emphasize the importance of continuous learning and professional development to foster a culture of innovation and excellence within your AI team.

• Creating a Strong Team Culture

Apart from recruiting talent, creating a strong team culture is essential for maximizing the potential of your AI team. Encourage collaboration, knowledge sharing, and open communication to foster creativity and problem-solving. Provide resources and tools for ongoing skill development and experimentation. Foster a culture of experimentation and risk-taking to encourage innovative thinking and breakthrough solutions. By nurturing a supportive and inclusive environment, you empower your AI team to achieve remarkable results and drive continuous innovation in AI development.

Establishing Your Business Model

When venturing into the realm of big data for marketing success, establishing a robust business model is paramount. This begins with choosing the right revenue model that aligns with your goals and target audience. Whether it’s a subscription-based model, pay-per-use, or a combination of revenue streams, understanding your market dynamics and customer preferences is crucial in driving sustainable revenue growth.

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• Choosing the Right Revenue Model

Selecting the appropriate revenue model hinges on factors such as customer acquisition costs, pricing sensitivity, and market trends. Conducting thorough market research and competitor analysis can provide valuable insights into what revenue model will resonate best with your target audience. For instance, a subscription-based model may work well for software-as-a-service (SaaS) products, while pay-per-use could be more suitable for data analytics tools.

• Forecasting Financial Projections

Once you’ve established your revenue model, it’s essential to forecast financial projections to gauge the potential success of your big data marketing initiatives. This involves analyzing key financial metrics such as projected revenue, costs, profits, and return on investment (ROI). By leveraging big data analytics tools, businesses can make data-driven projections that help in budget allocation, resource planning, and overall financial strategy.

Creating a Go-to-Market Strategy

• Crafting a Marketing Plan for AI Products

In the realm of big data marketing, AI-powered products are revolutionizing how businesses engage with their target audience. Crafting a comprehensive marketing plan for AI products involves leveraging big data insights to personalize marketing messages, optimize customer experiences, and drive conversions. Utilizing AI algorithms to analyze customer data can uncover actionable insights that fuel targeted marketing campaigns and enhance customer engagement.

• Developing Sales Channels and Partnerships

An effective go-to-market strategy for big data-driven marketing includes developing robust sales channels and partnerships. This entails identifying strategic partnerships with data providers, technology integrators, and industry influencers to expand market reach and drive sales growth. Leveraging big data analytics to identify high-potential sales channels, optimize distribution strategies, and forge partnerships can significantly enhance market penetration and revenue generation.

Implementing Scalability and Growth Plans

• Planning for Scalable Operations

Implementing big data strategies for marketing success involves careful planning for scalability and growth. Businesses need to assess their current infrastructure, data capabilities, and resources to determine how they can scale their operations effectively. This includes evaluating the scalability of data storage, processing power, and analytics tools to handle growing volumes of data efficiently. By planning for scalability from the outset, businesses can ensure that their big data initiatives can grow seamlessly as their needs and data volumes increase.

• Scaling Your AI Business

Artificial Intelligence (AI) plays a significant role in leveraging big data for marketing success. Businesses need to focus on scaling their AI capabilities to extract actionable insights from large datasets. This involves investing in AI algorithms, machine learning models, and data processing pipelines that can handle diverse data sources and generate valuable insights for marketing strategies. Scaling AI also includes training and upskilling employees to work with AI tools and technologies effectively, ensuring that businesses can harness the full potential of big data for marketing success.

Measuring Performance and Key Metrics

• Defining Key Performance Indicators (KPIs)
• KPIs serve as benchmarks for measuring the success of niche influencer marketing campaigns.
• Common KPIs in influencer marketing include reach, engagement rates, click-through rates, conversion rates, and return on investment (ROI).
• Each KPI provides unique insights into different aspects of campaign performance, such as audience reach, interaction levels, and revenue generation.

Aligning Efforts with Goals and Objectives

• Clear definition of KPIs allows businesses to align their influencer marketing efforts with specific goals and objectives.
• For example, if the goal is to increase brand awareness, reach and engagement metrics may take precedence.
• On the other hand, if the objective is to drive sales, conversion rates and ROI become more critical KPIs to track.

Establishing Baseline Metrics

• Before launching a campaign, it’s essential to establish baseline metrics for each KPI.
• Baseline metrics provide a starting point for comparison and help in evaluating the effectiveness of the campaign over time.
• They also serve as reference points for setting realistic targets and expectations.
• Tracking Metrics for Success

Real-time Monitoring

• Big data analytics tools enable real-time monitoring and analysis of key metrics.
• Businesses can track metrics such as likes, comments, shares, and click-throughs on influencer content as it happens.
• Real-time monitoring allows for immediate adjustments and optimizations to enhance campaign performance.

Audience Engagement Levels

• Monitoring audience engagement levels provides insights into the level of interest and interaction generated by the campaign.
• Metrics such as likes, comments, and shares indicate how well the content resonates with the target audience.
• High engagement levels often correlate with increased brand awareness and positive sentiment.

Conversion Rates and Revenue Impact

• Tracking conversion rates from influencer-driven traffic is crucial for measuring the campaign’s impact on driving sales and revenue.
• Businesses can attribute conversions to specific influencer content and calculate the ROI of their marketing efforts.
• Analyzing conversion data helps in identifying high-performing influencers and optimizing future collaborations.

In conclusion, the integration of big data analytics in niche influencer marketing is pivotal for businesses seeking to enhance their marketing strategies. By harnessing the power of data-driven insights, businesses can efficiently identify and collaborate with influencers tailored to their target audience, track campaign performance with precision, and optimize strategies to drive sales and overall marketing success. Embracing big data not only quantifies the ROI of influencer marketing but also ensures strategic decision-making for impactful engagement with targeted audiences, ultimately leading to sustained growth and competitive advantage in today’s dynamic market environment.

• Q. What is niche influencer marketing?

Niche influencer marketing involves partnering with influencers who have a deep understanding of specific niches and a loyal following within those communities. This strategy allows businesses to reach highly targeted audiences and drive sales effectively.

• Q. How does big data analytics support influencer marketing?

Big data analytics helps businesses identify the right influencers based on audience demographics, engagement rates, and content relevance. It also enables tracking and measuring campaign performance for data-driven decision-making and optimization.

• Q. What are the benefits of leveraging big data in influencer marketing?

Leveraging big data in influencer marketing quantifies ROI, optimizes strategies for impactful engagement, and ensures strategic decision-making for sustained growth and competitive advantage.

• Q. How can businesses measure the success of influencer marketing campaigns?

Businesses can measure success by analyzing key metrics such as reach, engagement, and conversions through big data analytics tools, providing valuable insights into campaign effectiveness.

• Q. What role does data-driven decision-making play in marketing success?

Data-driven decision-making enables businesses to make informed choices based on actionable insights, leading to optimized strategies, increased ROI, and enhanced customer engagement.

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Home » Sample Business Plans » Technology

How to Write an Artificial Intelligence Startup Business Plan [Sample Template]

Are you about starting an artificial intelligence company? If YES, here is a detailed sample artificial intelligence startup business plan template & FREE feasibility report. Artificial intelligence or AI is a rapidly rising market since more businesses and companies are integrating it to their processes of manufacture and customer service.

In recent years, different gadgets which use AI, for example smartphones and smart TVs, use virtual assistance software that works with AI to function and these devices are used by regular people on a daily basis to make their life more efficient and easy.

So if you want to be part of this changing and evolving world, this is the business plan format you should consider. Have it in mind that artificial intelligence business specializes on helping companies and businesses to integrate AI to their business processes.

The integration of technology will help them become more efficient, by reducing working hours and expenses. This business will also offer tech-services and training to any company or business that hires its services.

A Sample Artificial Intelligence Startup Business Plan Template

1. industry overview.

According to reports, the global artificial intelligence market size will reach $169,411.8 million in 2025, from $4,065.0 million in 2016 rising at a CAGR of 55.6% from 2018 to 2025. This industry has been one of the fastest-growing technologies in recent years.

It is associated to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving, and others. Most manufacturers in the market have experienced enormous underlying intellectual challenges in the development and revision of such a technology. AI is set at the core of the next gen software technology in the market.

Report also has it that the growing number of innovative start-ups and advancements in technology have led to increase in investment in artificial intelligence technologies. Also, increase in demand for analyzing and interpreting large amounts of data is further growing the demand for artificial intelligence industry solutions.

Furthermore, development of more reliable cloud computing infrastructures and improvements in dynamic artificial intelligence solutions have a strong impact on the growth potential of the AI market. However, lack of trained and experienced staff can hinder the growth of the artificial intelligence market.

Note that the ability of AI technology to analyze collected data efficiently and forecast decisions through explicit algorithms aids in productivity improvement. For example, Netflix offer movies on the basis of users’ previous viewing experiences.

In our modern and more competitive business environment, AI has revolutionized the way of business management through integration of workflow management tools, brand purchase advertising, trend predictions, and other tools. All these are the key factors for the growing investment in AI technologies and machine learning market.

Meanwhile, many small startups and tech companies have been investing in adoption of open-source AI platforms to achieve higher efficiencies in their value chains. Also, the growing availability of low-cost quality AI technologies is expected to also contribute to the growth of the market.

You also note that AI has varied application areas including media & advertising, finance, retail, healthcare, automotive & transportation, agriculture, law, educational institutions, oil & gas, and other industries.

This diversity has propelled the market of AI across the globe, owing to developments such as self-driving cars, space exploration, accurate weather predictions, and others. Also, AI is expected to affect healthcare advancements, due to its ability to analyze huge amounts of genomic data and ensure more accurate treatment and prevention of medical conditions.

2. Executive Summary

Blue Binary® A I Technologies, Inc. is a consulting-oriented computer support venture that also satisfies the development and marketing needs of our clients. Our aim is to focus our services and support to differentiate our company from more price-oriented computer companies in the united states. We are on the brink of penetrating a lucrative market in a rapidly growing industry.

Located at Downtown Denver, we at Blue Binary® A I Technologies, Inc. understand the need to be flexible and responsive, to satisfy our clients by offering them what they want, when they want it, and before the competition can offer it.

Our business strategy at Blue Binary® A I Technologies, Inc. will be based around the need to offer quality products and services to our various target customers. This shall be undertaken through the establishment of a professional team and the provision of quality, custom-designed services, catering to the client’s particular needs.

Our company will be established on the assumption that the proper management of information technology for business is like legal advice or accounting, in that it is not inherently a do-it-yourself prospect, and requires outside expertise to install and implement it.

We believe that smart business people need to locate quality vendors of reliable hardware, software, service, and support. They need to use these quality vendors as they use their other professional service suppliers: as trusted allies.

Our intentions of starting Blue Binary® A I Technologies, Inc. are to serve as a solution provider to our clients. We plan to serve our clients as trusted allies, providing them with the loyalty of a business partner and the economics of an outside vendor. We want to make sure that our clients have what they need to run their businesses as well as possible, with maximum efficiency and security.

Blue Binary® A I Technologies, Inc. founder, Sebastian Craig, has invested in the company and we are seeking more private investment. We plan to use these extra funds to complete our patent process and initiate prototype development. We also believe that the start-up capital required will also cover expenses associated with the continuation of operations in the first year. We also plan to raise the capital by selling shares in the company.

3. Our Products and Services

We at Blue Binary® A I Technologies, Inc. will offer computer products and services to small, medium, and large scale businesses in Denver, Colorado. Our plan is to focus on providing network systems and services to businesses. The systems include both PC-based Land Area Networks (LAN) systems and minicomputer server-based systems.

We will also maintain the latest hardware and software capabilities so as to make sure we are continuously at the forefront in our market arena. Below are the services and products we plan to provide at Blue Binary® A I Technologies, Inc.;

• Hardware Supply and Technical Support (Xenasys, Xenavex and BioXen devices)
• Paperless Office Automation Solutions
• Financial Solutions
• Network Solutions
• Data Backup Solutions and Services
• E-commerce and Advertisement Solutions

4. Our Mission and Vision Statement

• Our vision at Blue Binary® A I Technologies, Inc. is to provide products and services of uncompromising quality. We also plan to seek mutually beneficial and enduring relationships in all the commitments that we make, ensuring that they are straightforward and honest.

Our mission at Blue Binary® A I Technologies, Inc. is to be a responsible corporate citizen, fulfilling our obligations as an integral member of society. We believe that all our business decisions will offer appropriate weight and consideration to social and environmental impacts.

Our Business Structure

Our management team at Blue Binary® A I Technologies, Inc. has extensive experience in technology development, sales, marketing, finance and customer service. All our senior executives boost of industry specific expertise in artificial intelligence, computer processing, and business systems. Blue Binary® A I Technologies, Inc. is run by a Finance Major, Sebastian Craig, who’s experienced in the AI and financial services sectors.

He is a proven entrepreneur and is joined by a team of seasoned Veterans from virtually every discipline in technology and financial services. We at Blue Binary® A I Technologies, Inc. intend to establish close relationships with our clients, with the intention of expanding in the near future. We plan to start with the following business structure;

Chief Executive Officer

Technical Director

Marketing and Advertisement manager

Human Resources and Admin Manager

• Sales and Marketing manager

Client Service Executive

5. Job Roles and Responsibilities

• Tasked with building the firm’s effectiveness by recruiting, selecting, orienting, training, coaching, counselling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Tasked with providing direction for the business
• Will also be tasked with creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Tasked with signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Works as the project manager of the organization; works directly with employees
• Tasked with designing advertising concepts and winning business proposals for the organization
• Tasked with copy writing and laying out chronological advertisement plans
• Tasked with developing strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
• Tasked with accomplishing subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
• Should be able to coordinate efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
• Tasked with building company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
• Obligated to maintain quality service by establishing and enforcing organization standards.
• Tasked with maintaining professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
• Make certain that operations and marketing department perform efficiently, coordinate employee efforts, and facilitate communications between management and employees
• Tasked with making sure that the organization work in line with international best practices.
• Tasked with handling media planning, buying & representation
• Tasked with creating advertising campaigns
• Tasked with disseminating advertising campaigns through available mediums, such as TV, Radio and periodicals et al
• Tasked with handling core digital services such as brand affinity, video advertising, rich media advertising, sponsorship advertising, classifieds/directories, lead generation, mobile messaging/email, digital display advertising, mobile advertising, social media management
• Handle other related media and advertising advisory and consulting services
• Tasked with overseeing the smooth running of HR and administrative tasks for the organization
• Will have to define job positions for recruitment and managing interviewing process
• Tasked with carrying out induction for new team members
• Tasked with training, evaluation and assessment of employees
• Oversee the smooth running of the daily office.

Sales and Marketing Manager

• Tasked with managing external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Obligated to model demographic information and analyze the volumes of transactional data generated by customer
• Should be able to identify development opportunities; follows up on development leads and contacts
• Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Tasked with handling business research, market surveys and feasibility studies for clients
• Tasked with supervising implementation, advocate for the customer’s needs, and communicate with clients
• Create new markets cum businesses for the organization
• Empower and motivates the sales team to meet and surpass agreed targets
• Tasked with preparing financial reports, budgets, and financial statements for the organization
• Tasked with providing the Company’s management with financial analyses, development budgets, and accounting reports
• Tasked with financial forecasting and risks analysis.
• Should be able to perform cash management, general ledger accounting, and financial reporting for one or more properties.
• Tasked with developing and managing financial systems and policies
• Tasked with administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for Blue Binary® A I Technologies, Inc.
• Serves as internal auditor for Blue Binary® A I Technologies, Inc.
• Tasked with welcoming clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
• Makes sure that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the creative director in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information are supplied to clients when they make enquiries.

6. SWOT Analysis

We at Blue Binary® A I Technologies, Inc. don’t intend to just market and sell our product and services, but to provide customized services and products that will enable our clients to optimize their output and, assist in the attainment of their goals and objectives.

However, for us to attain the above stated, we hired the services of Fortune Ventures, a HR enterprise owned by Dr. Matthew Smith, a popular figure in business development and analysis, to analyze our strengths and weaknesses in our market. After thorough analysis and working with our management, we weren’t disappointed with the analysis we got. Here is a summary of the SWOT Analysis;

Our major strength at Blue Binary® A I Technologies, Inc. is our excellence in fulfilling the promise made to our clients to provide completely confidential, reliable, trustworthy service(s) through the provision of uncompromising services. Also, our timely response to clients’ orders and our skills and depth of knowledge is a massive strength for us.

Our main weakness at Blue Binary® A I Technologies, Inc. will be the time it will take to achieve our goals and the problems we will be facing as new entrants into the industry. We also understand that the introduction of new organizational practices and personnel who have not previously worked together will present a challenge. From this analysis, we have taken these weaknesses into consideration and have put plans in place to rectify and perform above them.

• Opportunities

Reports have it that this industry has been one of the fastest-growing technologies in recent years. It is associated to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving, and others.

We also understand that business people need to locate quality vendors of reliable hardware, software, service, and support. They need to use these quality vendors as they use their other professional service suppliers: as trusted allies. We at Blue Binary® A I Technologies, Inc. plan to leverage this growing demand and also create astounding service that will bring us closer to our clients and targeted audience.

According to our SWOT analysis, the slow adoption rate of new technologies and products in these parts of the world does not favor our intended products and services at Blue Binary® A I Technologies, Inc. It also noted that raising the adequate funds we need to build our business is another threat that will limit our success.

7. MARKET ANALYSIS

• Market Trend

According to reports, factors like the Internet of Things (IoT) are set to further advance the AI and IT industries. The Internet of Things is the network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these objects to connect and exchange data.

Each thing is uniquely identifiable through its embedded computing system but is able to inter-operate within the existing Internet infrastructure.

Reports have it that the figure of online capable devices increased 31% from 2016 to 8.4 billion in 2017. Experts believe that the IoT will consist of about 30 billion objects by 2022. It is also estimated that the global market value of IoT will reach $7.1 trillion by 2022.

Also, quantum computing is expected to have a big say in the industry in the near future. Quantum computers are incredibly powerful machines that take a new approach to processing information. Built on the principles of quantum mechanics, they exploit complex and fascinating laws of nature that are always there, but usually remain hidden from view.

Note by harnessing such natural behavior, quantum computing can run new types of algorithms to process information more holistically.

3D printing is also set to improve and advance in coming years. 3D printing more commonly refers to processes in which material is joined or solidified under computer control to create a three-dimensional object, with material being added together (such as liquid molecules or powder grains being fused together).

3D printing is used in both rapid prototyping and additive manufacturing (AM). Objects can be of almost any shape or geometry and typically are produced using digital model data from a 3D model or another electronic data source such as an Additive Manufacturing File (AMF) file (usually in sequential layers).

There are many different technologies, like stereo lithography (STL) or fused deposit modeling (FDM). Thus, unlike material removed from a stock in the conventional machining process, 3D printing or AM builds a three-dimensional object from computer-aided design (CAD) model or AMF file, usually by successively adding material layer by layer.

3D printing or additive manufacturing is a process of making three dimensional solid objects from a digital file. Robotics, virtual intelligence and biometrics are also expected to shape the industry. Biometrics which is simply the measurement and statistical analysis of people’s unique physical and behavioral characteristics will be the most crucial according to experts.

8. Our Target Market

Our target market at Blue Binary® A I Technologies, Inc. will be businesses who are dependent on reliable information technology. These businesses use computers for a vast range of functions, beginning with the core administration information such as accounting and record entry, communications, and personal productivity.

These companies, however, are not big enough to have dedicated computer personnel such as the Management Information System (MIS) departments in large businesses. We plan to focus on proactive, market seeking organizations that want to ensure an efficient and effective IT system that will assist in the realization of their business objectives.

However, our most important group of potential customers will be business executives in large, medium, and small corporations. Note that these include marketing managers, general managers, sales managers, and other decision makers who often need to access company data and information in their various business decisions.

They will not waste their time or money looking for bargain information, questionable expertise, or cheap computers and accessories. Our potential clients will include:

• Research and Development Companies
• Educational institutions (High Schools, Colleges and Universities)
• Governments and hotels
• Sport Organizations and social clubs
• Banks, Insurance Companies and other related Financial Institutions
• Corporate Organizations and technology companies
• Manufacturers and Distributors
• Real Estate Owners, Developers, and Contractors
• Media Stations and Religious Organizations
• Event planners and other businesses

Our competitive advantage

Our business strategy at Blue Binary® A I Technologies, Inc. will base around the need to offer quality products and services to our various target customers. This shall be undertaken through the establishment of a professional team and the provision of quality, custom-designed services, catering to the client’s particular needs.

We believe that our competitive advantage in this sector is our positioning as a strategic ally with our clients. We also believe that by building a business based on long-standing relationships with satisfied clients, we will simultaneously build defenses against competition.

Research has shown that the longer the relationship stands, the more we help our clients understand what we offer them and why they need it. Also, the delivery of whole, end-to-end solutions will have a significant impact on gaining commitment from the market at all levels. We believe in partnering with our clients so as to provide customized solutions that are needs-based.

9. SALES AND MARKETING STRATEGY

The very first element of our marketing strategy at Blue Binary® A I Technologies, Inc. will be that of differentiation from our competitors. In terms of marketing, we plan to showcase our company as a strategic ally, not just our products.

We also plan to offer extremely reasonable prices in comparison to competition, and we need to be able to sustain that. Market penetration through lower prices shall be undertaken where need be. We plan to use the following strategies to reach our targeted audience;

• Direct marketing approach
• Promptness in bidding for advertising and digital marketing contracts from the government and other cooperate organizations
• We will also advertise our business in relevant business magazines, newspapers, TV and radio stations
• Blue Binary® A I Technologies, Inc. will introduce our computer support company by sending introductory letters alongside our brochure to individuals, corporate organizations, government agencies, non – profits, religious organizations and key stakeholders.
• We plan to list our business in yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• We also plan to create different packages for different category of clients in order to work with their budgets and still deliver excellent services
• We will make use of the internet to promote our business

Sources of Income

We will generate revenue streams from a combination of licensing agreements, sales commissions, monthly subscriptions, registration fees, network access charges, service fees, transaction charges, training, promotional incentive programs, and sales of hardware and software.

We believe that the derived value of our company will come from the major partnerships established and developed in order to deliver transactional-based activities, providing opportunity to build brand loyalty, around which relationship marketing will play a key role. Below are ways we intend to generate revenue;

• Offering Paperless Office Automation Solutions
• Offering Financial Solutions
• Offering Network Solutions
• Offering Data Backup Solutions and Services

10. Sales Forecast

One of our objectives at Blue Binary® A I Technologies, Inc. is to develop a follow-up strategy to gauge performance with all our clients. We also plan to continuously formalize and measure cross-functional working communication so as to ensure that the various departments work harmoniously towards attainment of company objectives.

We will also instill a culture of continuous improvement in beating standards of customer satisfaction and efficiency. In other to understand what we have and what we are expected to reach, we took our time to analyze and set out our sales forecast. This sales forecast was done after extensive research, discussion, and analysis of what is obtainable in the industry. Outlined below is the sales projection for Blue Binary® A I Technologies, Inc.;

• First Fiscal Year:  $850,000
• Second Fiscal Year:  $1,620,000
• Third Fiscal Year:  $6,050,000

11. Publicity and Advertising Strategy

Our promotion strategy at Blue Binary® A I Technologies, Inc. will be based majorly on informing prospective clients of our existence and making the right information available to customers. We at Blue Binary® A I Technologies, Inc. plan to leverage an aggressive promotional campaign to introduce our products and services to the market.

Our intention will be to gain advantage of several media sources in announcing our services and in the process enforcing awareness of our existence. Listed out below are other strategies we hope to leverage on to promote and advertise Blue Binary® A I Technologies, Inc.;

• We will list Blue Binary® A I Technologies, Inc. in local directories / yellow pages
• We also plan to create an official website and employ strategies that will help us pull traffic to the site.
• We will also distribute our fliers and handbills in target areas
• We also plan to contact corporate organizations, non – profits and government agencies by calling them up and informing them of Blue Binary® A I Technologies, Inc.
• Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.
• We will place adverts on both print (newspapers and magazines) and electronic media platforms
• We will also sponsor relevant community based events / programs
• We will make use of the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
• We also plan to mount our Billboards in strategic locations all around Denver

12. Our Pricing Strategy

We at Blue Binary® A I Technologies, Inc. believe that a vast majority of proactive, market-oriented businesses understand the value of having an efficient computer system, as well as the concept of service and support. They are much more likely to pay for them when the offering and benefits are clearly stated. We also understand that we will compete more against the box pushers than other service providers.

We plan to charge appropriately for the high-end, high-quality service and support we offer. Our revenue structure has to match our cost structure, so the salaries we pay to assure good service must be balanced by the revenue we charge. That is why we must make sure that we deliver and charge for service and support.

• Payment Options

We at Blue Binary® A I Technologies, Inc. understand how important it is to establish varieties of payment methods for our diverse range do clients. We are very much ready to provide a wide range of payment methods to suit our clients. We hope to make our business dealings so simple and comfortable for our customers. We’ve also employed the use of a banking platform to help us provide all the services we will be offering below.

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via mobile money

13. Startup Expenditure (Budget)

We’ve taken our time to analyze our market and we expect the cost of equipment we need might be the same price all over the United States, and any difference will surely be little enough to be overlooked. Outlined below is a detailed cost analysis of starting Blue Binary® A I Technologies, Inc.;

• Incorporating fees in the United States of America will cost – $750
• The budget for Liability insurance, permits and license will cost – $40,000
• Leasing / renting an office space in a good location in Silicon Valley that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $165,000.
• The cost for furnishing and equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $40,000
• The amount required to purchase the needed software applications – $3,500
• Launching an official Website will cost – $500
• Our budget for advertising and publicity – $40,000
• The amount needed to pay bills and staff members for at least 2 to 3 months – $70,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
• Miscellaneous – $10,000

From the above cost analysis, we need about $600,000 to start Blue Binary® A I Technologies, Inc. The business we believe will grow to dominate the market and become the major stockholder in the global market.

Generating Funding/Startup Capital for Blue Binary® A I Technologies, Inc.

Blue Binary® A I Technologies, Inc. is a consulting-oriented computer support venture, that is also in the business of satisfying the development and marketing needs of our clients. We hope to raise enough funding to take care of start-up and initial running costs.

Blue Binary® A I Technologies, Inc. founder, Sebastian Craig, has invested in the company and we are seeking more private investment. We plan to use these extra funds to complete our patent process and initiate prototype development. We also believe that the start-up capital required will also cover expenses associated with the continuation of operations in the first year. We have numerous ways to raise funds, and they include;

• Generate part of the startup capital from personal savings and sale of his stocks
• Generate part of the startup capital from friends and other extended family members
• Generate part of the start up capital from the bank (loan facility).

Note : Sebastian Craig has provided investment covering much of the starting assets, with the rest of required financing coming from a 5-year commercial loan obtained from our bank.

14. Sustainability and Expansion Strategy

We at Blue Binary® A I Technologies, Inc. plan to make our human resources element a crucial component in the delivery of service. We believe that by having enthusiastic, capable, and empowered people interacting with our clients, we can be able to comprehensively meet our clients’ needs.

We also have plans to give our teams enough leverage in decision-making to ensure that clients are handled promptly and to reduce lead-time in actual delivery of the service. It will be necessary to evaluate jobs and remuneration packages against market benchmarks to ensure they are competitive. We plan to ensure that our management philosophy is based on responsibility and mutual respect.

We also hope to create a flexible structure allowing for all business dealings to be undertaken swiftly and smoothly. Our management team extensive expertise and a broad knowledge of the products/services and markets, which, if well planned, will enable the business to realize its goals and objectives.

We will respect our community and treat all employees well. We will develop and nurture the company as a community. We will not be hierarchical, especially considering the rate of change in our industry, which makes it mandatory for us to be highly flexible.

We at Blue Binary® A I Technologies, Inc. want the company to stay lean and flexible so that we can respond to our markets’ needs quickly. As we expand, we expect to increase our personnel. We also plan to compensate our personnel well, so as to retain their invaluable expertise and ensure job satisfaction and enrichment.

Our compensation will include health care, generous profit sharing, and a minimum of 3 weeks vacation. Our In-house training shall be continuous with regular external training being undertaken, particularly following any new developments in the market. We believe that this will  ensure that we are continuously able to anticipate our market needs.

External training will also be conducted to ensure we are aware of the latest products and technology. This will also ensure that our personnel are able to set high standards, or benchmark, using these organizations standards.

We also plan to encourage our employees to put forward any suggestions they might have regarding the improvement of any of the company’s functions. Such a culture will enhance innovativeness and creativity in turn leading to job satisfaction and enrichment.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Leasing, renovating and equipping our facility: Completed
• Generating part of the startup capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress

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Start » startup, how to use ai tools to write a business plan.

These tools use artificial intelligence to generate full business plans you can take to investors.

Writing a business plan is an important, if arduous, task. Most investors and financial institutions will ask to see your business plan before providing startup capital. But, for many entrepreneurs, putting pen to paper to detail your idea can be burdensome.

AI tools can speed up the process of writing a business plan by providing the framework and initial content. However, you’ll need to go through the plan in detail to make sure it accurately reflects the financial modeling, mission and vision, and other elements that you’re starting to put into motion. Consider any business plan generated by these AI tools as a starting point from which to finesse your plan to perfection.

[Read more: Writing a Business Plan? Here’s How to Do It, Step by Step ]

ProAI is built to generate custom business plans that include financial projections, market research, and a SWOT analysis. These detailed plans can be edited in the app or exported to Google Docs and Sheets for further editing. Simply answer some questions about your business information and goals; AI will create a custom plan with financials. The report can be ready in a few days, depending on the depth and level of customization required — something you determine when you go through the initial process. ProAI can also provide pitch decks and business funding. Pricing for ProAI starts at $199/month.

[Read more: 4 Effective Ways Small Businesses Can Leverage AI ]

Simplified offers a unique AI generator for small businesses. Like ProAI, you simply enter your small business details and objectives, or work off one of their existing templates (such as for a gym, food truck, or real estate service). Simplified’s artificial intelligence can generate market analysis, financial projections, and a clear value proposition for your plan. It can be edited within the tool. The best part? Simplified is free up to 2,000 words.

LivePlan Assistant is the company’s AI writing tool that can help you create a business plan. With this option, you can select one of LivePlan’s business plan templates and get help filling in each section from the Assistant. LivePlan’s database of 550 free sample business plans gives you a good starting point. The Assistant’s “Help Me Write” function will then generate ideas for each section of your plan according to the information you give it. It includes financial forecasting functionality, too. Pricing for LivePlan starts at $20/month.

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Upmetrics ’ AI Assistant can autowrite sections of your business plan, adjust the tone of your content to be more persuasive or professional, and reformat sections to make the plan flow. Unlike other tools on this list, Upmetrics also offers well-designed cover pages so you can make your document stand out. The platform lets you collaborate with different users on the same document so you can stay organized and coordinate better. And, instead of using a set template, Upmetrics has a drag-and-drop builder so you can determine what sections you want to include. Upmetrics starts at $7/month.

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WriteCream develops generic business plans that can be customized to fit your vision. It’s less sophisticated than other tools on this list, and it can be used as a blank canvas if you have a great idea but no time (or patience) to write a full business plan. It doesn’t come with the bells and whistles of other tools, but it is affordable: WriteCream is free-to-use for up to 10,000 words per month.

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How to build an AI startup: Step by Step Guide in 2023

Building an AI Startup in 2023: A Step-by-Step Guide

Launching an AI startup in 2023 offers unprecedented opportunities in a rapidly evolving landscape. This guide will walk you through the process of turning your innovative AI idea into a thriving startup, from problem identification to securing vital resources. Whether you're a seasoned entrepreneur or a newcomer, this roadmap will help you navigate the complex AI industry and transform your vision into reality.

Is it a good idea to start an AI startup in 2023?

We already covered why 2023 is a good year to build AI startup . Whether you’re gonna build GPT3 app , create one using Stable Diffusion models , or just build Cohere app - it doesn’t matter as long as your app is gonna fix one of the world’s problems. As they say - the journey is the thing that matters.

And the AI landscape evolves at breakneck speed, the prospect of launching an AI startup in 2023 can be both enticing and daunting. With AI technology continually expanding and presenting countless opportunities for innovation, the field is ripe for enterprising individuals seeking to make their mark.

Investments in AI research and applications are projected to reach a staggering $500 billion by 2024 , according to research firm IDC. This influx of capital signifies a thriving environment for emerging AI startups, fostering a competitive yet rewarding market for those willing to navigate its intricate terrain.

As you start thinking about your AI startup it's crucial to analyze the current state of the AI industry, considering factors such as market demand, competition, and funding opportunities. By conducting thorough research and identifying potential niches, aspiring entrepreneurs can evaluate whether their AI venture aligns with the ever-changing landscape.

In short - find something which makes your idea unique - whether it leverages your unique field of expertise or solves a problem you or someone in your community is facing. And start the analysis from that place.

Navigating the Challenges of AI Startup Ventures

Venturing into the world of AI startups involves navigating a complex web of challenges, each demanding a fine balance of foresight, adaptability, and strategic planning. By meticulously investigating the market and addressing these obstacles, entrepreneurs can lay a solid foundation for a thriving AI startup amidst the ever-growing competition in the industry.

Step 1: Identify a Unique Problem

Start by identifying a unique problem that demands an innovative AI-driven solution. This issue could be specific to a niche sector or a broader concern affecting a diverse demographic. The more distinctive and pressing the problem, the better your chances of making a real impact in the market.

Step 2: Conduct Thorough Market Research and Analysis

Before diving into development, undertake comprehensive market research to gauge the demand for your solution and identify potential competitors. Use this information to refine your concept and create a distinctive value proposition that sets your startup apart and fills a gap in the market.

Step 3: Develop a Business Blueprint

Create a methodically devised business plan that outlines your objectives, target audience, revenue model, and marketing strategy. A solid plan will provide a stable foundation for your venture, ensuring alignment with your goals even in the face of challenges.

Step 4: Assemble a Diverse and Talented Team

Build a multifaceted team with a diverse range of skills, encompassing AI expertise, business acumen, and marketing know-how. Seek individuals whose strengths and experiences complement each other and promote a collaborative work environment that fosters innovation.

Step 5: Create a Functional Prototype

Develop a working prototype of your AI solution to assess its feasibility, effectiveness, and potential market impact. This iterative process allows you to gather user feedback and make necessary adjustments before launching the final product.

Step 6: Secure Financial Support and Resources

Obtain the necessary funding through grants, loans, investments, or strategic partnerships to cover initial expenses and support ongoing operations.

Step 7: Join an AI Hackathon like lablab.ai

Participate in AI hackathons like lablab.ai's Artificial Intelligence Hackathon. Assemble a team with talented individuals from the community who share a passion for innovation and problem-solving with AI. Utilize mentors, tutorials, and tech resources provided by lablab.ai's partners to build a prototype of your app.

Step 8: Accelerate Your Project

After the hackathon, consider submitting your project to programs like AI slingshot, which can help accelerate your project to a minimum viable product (MVP) and prepare it for the market.

Step 9: Start Changing Lives with AI

Remember that the journey starts with the first step. By following these steps and participating in initiatives like lablab.ai, you can use AI to make the world a better place and change the future.

Discovering Valuable Resources for AI Startup Success

Embarking on an AI startup journey can be a daunting task, but a wealth of resources are available to support entrepreneurs in achieving their goals. The key is to research and explore these resources to identify those best suited to your startup's unique requirements.

Online Articles and Guides: Harnessing Collective Wisdom

A plethora of online articles and guides offer invaluable advice and best practices for starting an AI startup. These resources, such as content from our AI YouTube channel can provide insights from industry experts, helping entrepreneurs navigate the complex AI landscape with confidence.

Startup Accelerators and Incubators: Accessing Mentorship and Funding

Joining a startup accelerator or incubator can give AI startups access to essential resources, including mentorship, funding, and networking opportunities. These programs provide a supportive environment to help startups overcome obstacles and hit the ground. We recommend AI slingshot from NewNative.

Networking and Community Events: Building Valuable Connections

By attending networking events and joining AI-focused communities, entrepreneurs can forge connections with peers, investors, and industry experts. These relationships can offer invaluable advice, support, and potential collaboration opportunities, paving the way for long-term success.

Tech Companies: Leveraging Support Programs

Many large tech companies offer dedicated resources and support programs to assist startups in their growth journey. By tapping into these resources, AI startups can access a robust ecosystem of knowledge, tools, and expertise that can propel them toward success in the competitive AI industry.

How do I build my startup?

Taking the first steps toward creating an AI startup might seem intimidating, but with a well-considered plan and a trailblazing approach, it can transform into a thrilling and rewarding odyssey. To help you navigate the complexities of launching an AI-focused enterprise, consider these vital steps, which delve deeper into the nuances of starting your venture:

Discover an exceptional problem that demands an innovative solution:

The true potential of AI technology lies in its ability to address an extensive range of challenges across various industries. To kick off your journey, dedicate time to identifying a truly unique problem that stands to benefit from an AI-driven solution. This issue could be specific to a niche sector or a broader concern affecting a diverse demographic. The more distinctive and pressing the problem, the better your chances of making a real impact in the market.

Immerse yourself in thorough market research and analysis:

Before diving headfirst into the development process, it's crucial to undertake comprehensive market research to accurately gauge the demand for your proposed solution, as well as identify any potential competitors. Equipped with this invaluable information, you can refine your concept and sculpt a distinctive value proposition that sets your startup apart from the rest, ensuring that you are filling a gap in the market and offering something genuinely innovative.

Craft an all-encompassing business blueprint to guide your journey:

A methodically devised business plan is the cornerstone of any successful AI startup. A robust plan should include a detailed outline of your objectives, target audience, revenue model, and marketing strategy. By creating a solid foundation for your venture, you can ensure that it remains unwavering and aligned with your goals, even in the face of unforeseen challenges.

Assemble a diverse and talented dream team:

A prosperous AI startup requires a multifaceted team with a diverse range of skills, encompassing AI expertise, business acumen, and marketing know-how. Seek out individuals with unique strengths and experiences that complement each other and can work in harmony to drive your business forward. Additionally, fostering a collaborative and inclusive work environment can inspire innovation and creative problem-solving, which are essential ingredients for success in the AI industry.

Develop a functional and impactful prototype to showcase your vision:

The creation of a working prototype is a crucial step in the development of your AI solution, as it allows you to assess its feasibility, effectiveness, and potential market impact. By constructing a prototype, you can identify areas for improvement, gather valuable user feedback, and make any necessary adjustments before launching the final product. This iterative process ensures that you offer a polished and efficient solution, backed by real-world testing and validation.

Secure the financial support and resources needed to fuel your enterprise:

Launching an AI startup can be a resource-intensive endeavor, making it essential to obtain the necessary funding to cover your initial expenses and support your ongoing operations. Explore various financing options, such as grants, loans, or investments from venture capitalists and angel investors, to provide the capital required to bring your vision to life. Additionally, consider forming strategic partnerships, leveraging government initiatives, or participating in startup accelerators to further bolster your resources and expand your network in the AI ecosystem.

How can lablab.ai help me in building my AI startup?

It is pretty simple - we are combining best practices in the market in order to deliver a best-tailored solution for our community.

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Do you see? The journey is really simple and it starts with the first step, so join our upcoming Build Your AI Startup #3 Hackathon and start changing your life and life of others with AI.

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Hello! This is PitchBob’s AI Business Plan Generator💰

🤖 I’ve already helped 35k+ entrepreneurs, so relax; I’m here to create an AI Business Plan for your startup

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Here’s how it works:

After payment, I’ll take on the role of a business analyst from a top consulting firm like McKinsey. I’ll ask you questions about your project / product / business idea to understand and explain it in a business plan properly

You’ll answer my questions in as much detail as possible so that I don’t miss anything.

Then, I’ll create a ready-to-use 20-page business plan that covers all crucial aspects of your goals on business, product, and market development

Better understand your own business idea, got some insights and issues to think about

Prepare your answers to tricky questions about your business or startup

Got an AI-generated business plan that saves you tons of time and money you would spend on business consultants

💰And all of this at the price of few pizzas 🍕 for your startup team — $29,90

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Using an AI business plan generator like PitchBob offers several benefits: ‍ Time-saving: AI technology automates creating a business plan, saving entrepreneurs significant time and effort. It eliminates manual formatting and researching, allowing users to focus on other critical aspects of their venture. ‍ Efficiency: The AI-powered generator analyzes the user's input and applies natural language processing to extract relevant information. It then generates a comprehensive and professional business plan tailored to investors' and stakeholders' specific needs and requirements. ‍ Accuracy: With AI, the generated business plan is based on data-driven insights and industry best practices. This increases the accuracy and credibility of the plan, enhancing its chances of being well-received by potential investors and partners. ‍ Consistency: AI ensures consistency in the structure and format of the business plan. It eliminates human errors and inconsistencies from manually creating or updating the plan, providing a polished and cohesive presentation. ‍ Accessibility: An AI business plan generator makes the process more accessible to a wider range of entrepreneurs, including those without extensive business planning experience. It provides a user-friendly interface and guidance throughout the process, making it easier for individuals to articulate their ideas and showcase their potential. ‍ Overall, leveraging an AI business plan generator streamlines the planning process, improves the plan's quality, and increases entrepreneurs' efficiency and effectiveness in presenting their venture to potential stakeholders.

AI/Chat GPT-4 is capable of generating business plans with a high level of accuracy. The AI/Chat GPT-4 algorithms used in platforms like PitchBob are trained on vast amounts of data, including successful business plans, industry trends, and best practices. This allows the AI to understand a comprehensive business plan's key components and structure. ‍ By leveraging natural language processing and machine learning techniques, AI analyzes the user's input and extracts relevant information to create a customized business plan. It considers the specific industry, target market, competitive landscape, and financial projections. ‍ While AI-generated business plans provide a solid foundation, it's important to note that the user should review and customize them. Entrepreneurs can add their unique insights, adapt the plan to their business model, and incorporate their expertise and vision. ‍ AI-generated business plans offer numerous advantages, including increased efficiency, consistency, and access to data-driven insights. ‍ However, it's crucial to understand that human expertise and judgment are still essential in refining and tailoring the plan to meet the specific needs and goals of the business. ‍ Combining AI's accuracy and human input ensures a comprehensive and well-crafted business plan effectively communicates the venture's value proposition and growth potential.

While AI business plan generators offer many benefits, it's important to be aware of their limitations. Here are a few factors to consider: ‍ Lack of human creativity: AI algorithms excel at analyzing data and generating content based on patterns and predefined rules. However, they may lack the human touch and creative thinking entrepreneurs bring to their business plans. ‍ AI-generated business plans may not capture unique insights, innovative strategies, or nuanced market understanding that human entrepreneurs can provide. ‍ Industry-specific knowledge: AI algorithms rely on data and patterns from various industries but may not have deep domain expertise in niche or specialized markets. Entrepreneurs operating in particular industries or niche markets may need to supplement the AI-generated plan with industry-specific knowledge and insights. ‍ Limitations in data availability: AI algorithms depend on the data they are trained on. If there is limited or outdated data available, it may impact the accuracy and relevance of the generated business plan. Entrepreneurs should provide up-to-date and accurate information to obtain the most reliable results. ‍ Lack of customization: While AI business plan generators can provide a solid foundation, they may not capture each business's unique aspects and individuality. Entrepreneurs should review and customize the plan to align with their goals, market positioning, and competitive advantage. ‍ Risk assessment: AI-generated business plans may not adequately address risk factors or assess potential challenges specific to the entrepreneur's venture. Conducting a thorough risk analysis and considering factors such as market volatility, regulatory compliance, and potential obstacles to success is essential. ‍ Viewing AI-generated business plans as a helpful tool rather than a substitute for human expertise and judgment is important. ‍ Entrepreneurs should use AI-generated plans as a starting point, leveraging their insights, industry knowledge, and market research to create a comprehensive and tailored business plan that reflects their unique vision and goals.

While AI business plan generators offer numerous benefits, knowing the potential risks is important. Here are a few considerations: ‍ Overreliance on automation: Relying solely on an AI business plan generator without human involvement can lead to a lack of critical thinking and strategic decision-making. Entrepreneurs should exercise caution and actively participate in the plan generation process, providing their unique insights and expertise. ‍ Limited context and judgment: AI algorithms analyze data and patterns but may not fully understand the broader context or exercise human judgment. This can generate plans that may not consider industry nuances, market dynamics, or individual circumstances. Entrepreneurs should use the AI-generated plan as a starting point and customize it based on their expertise and market understanding. ‍ Data accuracy and bias: AI algorithms rely on data to generate plans, and if the underlying data is incomplete, outdated, or biased, it can impact the accuracy and reliability of the developed plan. Entrepreneurs should ensure their data is accurate and relevant to their business to obtain more reliable results. ‍ Intellectual property concerns: When using an AI business plan generator, there is a potential risk of exposing sensitive or proprietary information. Entrepreneurs should carefully review the terms and conditions of the platform to ensure the protection of their intellectual property rights. ‍ Security and privacy: As with any technology that involves data processing, there is a need to consider security and privacy measures. Entrepreneurs should choose a reputable AI business plan generator that prioritizes data protection and implements robust security measures. ‍ To mitigate these risks, entrepreneurs should approach AI-generated plans as a tool rather than a definitive solution. ‍ It's essential to exercise critical thinking, validate the generated plan with market research and expert advice, and tailor it to suit their business needs and objectives. By combining AI-generated insights with human expertise, entrepreneurs can maximize the benefits while minimizing potential risks using an AI business plan generator.

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12 AI Business Plan Generators to Start Any Business in 2024

15MinutePlan

Wordkraft ai, beautiful ai.

• Brixx Plan Software

Useful ChatGPT prompts for writing a business plan

Tips for using chatgpt to create a business plan, how to make sure the ai-generated business plan is good enough.

Hello! My name is Arto Minasyan, I’m the Founder and CEO here at 10Web, and a Co-Founder at Krisp. I’ve earned a PhD in Mathematics, in addition to a BA and Master’s in Physics, as well as an MBA. I am a serial entrepreneur, and I know that crafting a business plan can seem like a daunting task. 

However, whether you are launching a new business or seeking growth for your current venture, it’s vital to communicate your vision in a thorough business plan.

That’s why I’m excited to share this list of AI business plan generators alongside a few personal tips that I think will inspire you and aid you in creating a well-structured and detailed business plan.

12 AI business planners to help you start your business fast

Generate and refine an executive summary.

Free Plan Paid plan: From 12$ / month

Key features

• AI-generated, customizable business plans.
• AI-assisted enhancing and editing.
• Efficient process with only 4 questions.

Grammarly’s AI Business Plan Generator is a tool designed to assist aspiring entrepreneurs in creating an Executive Summary for their business plans. This tool is a part of Grammarly.com’s suite of AI-assisted writing and proofreading tools. It’s specifically tailored to generate business plans suitable for various types of businesses, leveraging Grammarly’s expertise in enhancing writing quality through AI-driven suggestions.

The AI Business Plan Generator operates in a straightforward and user-friendly manner. Users start by answering a few questions describing their business, including marketing and financial details and competitor information. With only 4 questions to answer, the more detail you can provide, the better the generated results will be for your business plan.

Once Grammarly generates the business plan, you can use its familiar tools to adjust the text for formality, tone, and length, in addition to the usual suggestions for grammatical improvements. The generated draft includes sections with customized, more fully developed plans that reflect your original responses, allowing you to focus more on refining ideas and less on the intricacies of writing.

Detailed AI-generated business plans.

Free to try Paid plan: From 99$

• Quick, AI-generated plans.
• ChatGPT 4 available.
• Detailed business plans.
• Editable via "Talk To Plan".

15minuteplan.ai is an AI-powered tool designed to create professional business plans quickly and efficiently.  While it aims to help anyone who needs a business plan, with its ability to personalize financial statements and plans, it might be of particular interest to those seeking investor or bank funding.

This AI business plan generator relies on GPT-3.5 and GPT-4 to draw upon a vast array of deep sources, significantly reducing the time and effort traditionally required to create a business plan.

As described, the process of creating a business plan with 15minuteplan.ai takes about – you guessed it – 15 minutes. Users begin by answering seven critical questions that cover the business plan’s purpose, descriptions of products or services, target customer groups, drivers of success, weaknesses, budget and spending plans, and financial details. The handy AI-assisted suggestions can really speed up this Q & A part of the process. 

Based on these responses, the tool generates a detailed business plan encompassing various elements such as an executive summary, industry overview, SWOT analysis, marketing strategies, segmentation, targeting, positioning (STP), product strategy, operations plan, management roles, financial projections, and risk mitigation strategies. 

While access to the full business plan requires signing up, 15minuteplan.ai offers a substantial preview of the generated business plan to get an idea of what’s included. Additionally, the platform features a unique “Talk To Plan” option, allowing users to easily edit their AI-generated plans by specifying the changes they want, which the AI then integrates effortlessly. This system streamlines the entire process of business plan generation, making it more accessible and less time-consuming.

AI-enhanced business plan templates.

Free plan Paid plan: From 20$ / month

• AI-assisted template interface.
• Customizable business plan sections.
• AI generated content options.
• Flexible tone and style settings.

As the name suggests, Copy AI is an AI writing assistant leveraging AI’s power and natural language processing. Copy AI allows you to write almost anything, from optimized blog content to digital ad copies, eCommerce copies, sales copies, social media content, and more. 

You can also use Copy AI as an AI business plan generator for almost any kind of business by logging in and selecting from a range of premade templates available online .  

Once you have selected a business plan template, you’ll be prompted to fill in the following details: 

• Your business name 
• A description of the problem your business solves
• A description of how your business will solve that problem
• The target market description
• Revenue model description

Besides providing you with a variety of business templates,  Copy AI allows you to customize details such as the tone of your content and more. 

AI-assisted business plan writing.

Free plan Paid plan: From 29$ / month

• Utilizes GPT-3.5 for content generation.
• Customizable business plans available.
• AI-assisted editing for refinement.

WordKraft is an AI-powered web application for generating optimized, authentic and high-quality content for various needs, such as marketing, blogs, and social media. Like many AI tools, Wordkraft runs on the powerful large language model GPT-3.5. 

You can also use Wordkraft’s free business plan template to generate a draft . Using the Wordkraft template, you’ll be asked to enter details about your business to guide the AI tool when generating the business plan.

Some details you’ll have to provide include an introduction of the business, the benefits, how the business solves the problem, the market for this product or service, and how to reach the target audience and make business.

Wordkraft is an excellent AI business plan generator for entrepreneurs looking for an easy-to-use interface and access to advanced features such as language and tone of voice options. This AI business planner generator also allows you to select the level of creativity that you need.

Generate presentations based on text prompts.

No Free plan available. Paid plan: From 12$ / month

• Professional slides, powered by AI.
• Design prompts for presentations.
• AI-generated content tools.
• Smart, auto-created templates.

Beautiful AI is a generative ai presentation software that enables businesses to create stunning presentations with minimal effort. With Beautiful AI you can access modern and creatively designed templates that you can use to jumpstart your presentations.

Luckily, Beautiful AI prowess extends as a business plans presentation and AI business plan generator.  Using Beautiful AI, you can create elegant business plans and presentations by selecting from a collection of quality templates. 

Beautiful AI gives you access to 100+ templates. You also don’t need any design skills to create a beautiful presentation or a business plan.

AI tool collection for documents & media.

• AI tools for documents, graphics, media.
• Enter plan details to generate.
• Suitable for diverse business types.

Simplified is a collection of AI-powered tools that can help individuals or businesses of any size easily accomplish some tasks. Some of the tools offered by Simplified AI include an AI presentation maker, image generator , AI writer, AI content rewriter, image resizer, and more.

Among the many AI capabilities of Simplified is also an AI business plan generator. Using Simplified, small businesses can generate a business plan using the templates provided. These templates already contain the outline and structure of how the business plan should look. All you have to do is select the desired tone and the output language.

Alternatively, you can open Simplified AI Writer and start on a blank canvas. However, you must give context and instructions on the business plan you want to generate.

Simplified has many built-in tools , such as Grammarly and graphic design , video editing, and image generation capabilities. Leverage these tools to create stunning customizable design templates, photo, video, and graphic assets for your business plan and other business needs.

AI-assisted note-taking and templates.

Free plan Paid plan: From 10$ / month

• Especially helpful for Notion users
• AI integrated note-taking system.
• Customize business plan templates with AI.

Notion AI is a productivity and workspace application capable of doing so many functions. You can use Notion as a project management app for note-taking and docs management, setup team spaces, and so much more. 

While Notion is not specifically designed as an AI business planner, it includes features that can help accomplish so much in that area. Notion AI can help you design quality, interactive, and shareable business plans using templates. You do not have to start from scratch while designing your business plan.

If you have a team, Notion makes this even better. Your team members can collaborate and contribute ideas seamlessly. You can also leave feedback and integrate many useful tools such as Google Docs, Trello, and Slack. 

AI apps for different purposes.

• Collection of easy-to-use AI tools.
• Minimal interface, powerful tools.

Cookup AI is a database of AI tools that you can use to achieve different tasks. Designed with non-technical users in mind, Cookup AI enables users to filter through the thousands of AI tools available and find exactly what they are looking for instead of navigating from site to site.

Among the collection of AI tools by Cookup AI is an AI business plan generator. Cookup AI business plan software is designed with a minimal interface allowing users to generate comprehensive business plans that outline their business goals, strategies, and objectives.

Remember to provide enough context and information about your business in a descriptive way to enable the  Cookup AI business plan generator to get the details of your business plan right. 

Using Cookup AI, your business can save a lot of time and effort as it is straightforward. However, you should work closely with your team members to ensure the business plan accurately reflects your business visions and goals.

Collaborative Business Plan Development.

Free plan Paid plan: From 8$ / month

• Cloud-based collaborative documents.
• Real-time collaboration, editing, sharing.
• Embeds multimedia in business plans.
• Free and premium template options.

Bit AI is a cloud-based collaboration platform that allows multiple teams within organizations spread around the globe to collaborate and organize and manage documents all in one place . Some of the documents that you can manage include wikis, knowledge bases, projects, client deliverables, technical docs, training guides, and client portals.

Using a set of prebuilt templates , you can also use Bit AI to create a modern business plan for your new business venture. Apart from access to high-quality business plan templates, using Bit AI  allows you to collaborate in real-time, create responsive and private documents, interlink business plan documents, and track engagements on the document.

Using Bit AI, you can also make your business plan more engaging by embedding web links, lucid charts, draw.io, Figma, Youtube, Vimeo, Airtable, Google Sheets, and more.

Bit AI has a free business plan template to get you started. You can also access over 65 smart slide templates to help you with your design.

AI platform designed specifically for business plans.

No Free plan available Paid plan: From 20$ / month

• Collection of tools for business plans
• Pro plan review & guidance available.
• Quick start for many business categories.
• AI LivePlan assistant.

LivePlan is a business planning software with a set of different features to help you set up your business and tools to support you every step of the way. LivePlan is an automated business plan creation software that works for any type of business at any stage. 

LivePlan breaks the business plan-building process into simple steps that are easy to follow. Its templates also conform to the usual business plan structure but can be customized as you deem fit. 

LivePlan is an excellent AI business planner due to its large collection of templates and customizability. Remember to take advantage of its financial forecasting and performance tracking features.

The leading AI-based chatbot.

Free plan Paid plan: 20$ / month

• Communicates in human-like language.
• Summarizes intricate subjects.
• Useful for composing, researching, inventing.
• Integrated with Microsoft Bing.

ChatGPT is a revolutionary chatbot powered by machine learning and natural language processing that can replicate human-like conversations. But can ChatGPT write a business plan? 

The short answer is yes, ChatGPT writes a business plan. Although ChatGPT is not specifically designed as an AI business plan software, through a series of prompts with information about your business, it is a great tool for brainstorming, researching, and creating a business plan draft . 

While ChatGPT can generate huge amounts of text, it is wrong to expect it to generate the whole business plan immediately. To use ChatgGPT effectively when generating your business plan, you should understand the various parts of your business plan. Once you understand these sections, you can ask ChatGPT to draft content and guidelines for each section.

Alternatively, you can ask ChatGPT to generate an outline for your business plan. Based on this outline, you can instruct it to draft each part based on your provided information. More on this later.

Brixx Planning Software

Financial forecasting and planning.

Free plan Paid plan: From 13$ / month

• In-depth financial forecasting.
• Suitable for various business sizes.
• Real-time collaboration and scenario testing.
• Combine with ChatGPT for best results.

Brixx software is a f inancial forecast software for cash flow, budgeting, and business planning. 

Apart from that, Brixx is also a business planning software that businesses can use to create a formal business plan that outlines the goals and objectives of their business and a roadmap to achieve them. If you’re curious about AI financial planning for business plans, then Brixx AI business planner might just be the tool you need. 

With Brixx, entrepreneurs can communicate their business goals to stakeholders or share funding requirements with potential investors. If you already have a business running, you can use Brixx to monitor and forecast your business’s financial well-being to ensure it remains on track.

Finally, Brixx software can be integrated with AI tools like ChatGPT to create powerful AI business plan software. You can create a more comprehensive and accurate business plan using this combination.

How to write a business plan with ChatGPT: tips and prompts

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To begin with,  you need to generate an outline for your business plan. ChatGPT can help generate one by running a simple prompt with context about your business.  

1. Generating a business plan outline

Prompt : Generate a business plan outline for a  business selling “X services/products” to other small and medium businesses. 

Using this prompt, we have generated a well-structured business plan outline. The outline contains some of the most important topics you should address in your such as the following:

• Executive Summary
• Company Description
• Market Analysis
• Services and Pricing
• Sales and Marketing Strategy
• Operations and Management
•  Financial Plan

With ChatGPT, you can now generate a draft of each section above. Be keen to provide content in each section to allow ChatGPT to generate content with more precision.

2. Generating executive summary

Prompt : Create a brief overview of the executive summary of “Business X“ and its mission statement.

Other prompts you can use include:

• Discuss the target market and how “business X“ plans to meet their needs.
• Highlight the company’s unique selling proposition (USP) and competitive advantage in the “ X industry”.

3. Performing a market analysis

Prompt :  Write and market research section for my “x” business plan. Please identify the “X” services’ target market. Remember to identify any market trends or changes that may affect the demand for “X” services and estimate the market size and growth potential for the “X” industry.

4. Competition analysis

Prompt: Generate a competition analysis for my business that offer “X” services. Identify competitor strengths and weaknesses.

5. Generating a sales and marketing strategy

Prompt: Generate a sales and marketing strategy for my “X  business”. Include sales tactics, strategies for closing deals, and customer retention strategies.

6. Operations and management

Prompt : Discuss the details of operations for my business plan, such as “X” infrastructure and technology to use, service level agreements, and customer support policies and procedures.

7. Generating a financial plan

Prompt: Generate revenue and sales forecasts, cost structure, and expense projections. Include a break-even analysis and profitability forecasts, funding requirements, and potential funding sources.

8. Conclusion

Prompt: Generate a conclusion to recap the business plan and a call to action for potential investors and customers.

In the section above, we discussed some ChatGPT prompts you can use to brainstorm or generate a draft of a business plan. While most of the outputs sound convincingly accurate and well structured, cross-check every detail and customize the plan accordingly.

ChatGPT is a great tool for business owners and individuals researching and drafting a business outline.  Here are some tips to help you get the most out of ChatGPT when generating your business outline: 

• Be as descriptive as possible when describing your business ideas and goals to help ChatGPT understand your business better. 
• Use keywords relevant to your business to help ChatGPT understand the content of your business.
• Provide detailed information about your competition, products and services, financial projects, and target marketing. Feeding ChatGPT with generic prompts will only generate generalized suggestions that may not be actionable.
• Use ChatGPT as a tool: While ChatGPT is a valuable tool for researching new ideas, it should never be a replacement for human ideas and intuition. Always rely on human expertise and experience when making key decisions. 
• Review, and fact-check :  ChatGPT, and other similar tools are prone to “hallucinations”.  Solely relying on these tools can potentially mislead you. 
• Use up-to-date data sources: Remember that ChatGPT relies on the knowledge it was fed during training. Some of this information could be outdated at the time of writing. It is important to check whether the data and statistics used by ChatGPT are still relevant. 

Most businesses use a business plan to outline the company’s strategies, objectives, and goals. Others use it as a proposal to attract investors on board, identify opportunities, and plan resources. Regardless of your motivation, the quality of your business plan will always impact the results.

In this section, we explore how you can always ensure that your AI-generated business plan effectively communicates your business’s vision. Make sure to also check out these 5 profitable business ideas to capitalize on the AI hype.

1. Edit and review the business plan

While AI business plan generators can save you lots of resources in terms of time and cost, they are also prone to inaccuracies. A thorough review of the plan you have generated allows you to ensure that the business plan you have generated aligns with your business strategy. Through a review, you can also evaluate whether the AI-generated business plan addresses key issues such as market analysis, competition, and financial projections.

2. Make sure it is actionable

A business plan that only gives an overview of the company’s goals, objectives, and financial and market standpoints is not good enough. A better business plan also highlights small, measurable, achievable, realistic, and time-bound ( SMART ) goals with a clear roadmap on how your business can achieve them.

Image source

3. Ensure only credible data sources are used

The accuracy, quality, and credibility of the data sources you use when putting together your business plan directly affect the quality and reliability of your business plan. With the advancement of AI in market research , it has become easier than ever to analyze huge amounts of data. However, it is important that you check whether the sources are credible.

4. Seek expert advice

The advent of AI-powered generative tools has made it easy to create almost anything. However, this does not overrule the importance of seeking the services of an expert. An expert in your business domain can help you discover some mistakes in your business plan that may not be apparent to you. 

5. Make sure it is clear and readable

Just like any other document, a business plan has an audience. Using technical jargon to impress your audience may not be effective in all cases. Therefore is important that you evaluate your AI-generated business plan and ensure that it is written in plain simple language . You may also want to include graphs and visual aids to boost understanding of content and convey important messages.

6. Customize your AI-generated business plan

AI-generated business plans form a good starting point when drafting your business plan. However, AI business plan generators should in no way be a substitute for your intuition and judgment. Every business has unique challenges and needs, it is important that you adapt any AI-generated business plan to fit your needs before using it.

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AI business plan generators and other AI tools have undoubtedly made it easy for entrepreneurs to bootstrap a business quickly and efficiently. After creating a business plan, it is also important that you establish an online presence through a website. AI website builders such as 10Web AI Website Builder can help you with this.  10Web AI Website Builder leverages AI to automatically generate a website with unique content and images tailored to your business needs. All you have to do is answer questions about your company, such as the company name, type, description, and services you provide. A website allows you to create an audience, and establish credibility while also displaying your products and services. 

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Create a custom website tailored to your business needs 10X faster with 10Web AI Website Builder!

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This is a great article, it helped me to understand how to use AI and what is the human rol when doing it. Thank you.

I’m trying to create a business plan to attract investment for a food truck company, please what free AI software do you think is best for me?

Hi Moyin, most of the tools listed in the article have a free plan available. So what I would suggest is trying 3-4 of them to see which one meets your specific needs the best.

I am starting a small wellness and health business from scratch needed help to create a plan to present to apply for a grant the computer said my email is already linked to ai but I cant log in

Hi Michiel, what tool are you trying to use?

Business Plan Generator

IdeaMaster is an AI Business Plan generator that uses GPT-3.5 to generate comprehensive business plans for your startup. Simply select your industry and product type to get started.

Business Plan Ideas

Here's a list of business ideas that you can use to start your own business. All of these ideas are generated by our AI.

6 Best AI-Powered Business Plan Generators (December 2023)

An entrepreneur is, in essence, a maker of plans. Actionable, specific plans for the realization of things that don't yet exist; turning ideas into action.

It sounds simple, but any business owner who has tried to start, build and grow a business knows how tricky this skill can be. Because, let's face it: business is too complicated to simply sit down and make 'one plan, one business plan to rule them all...'.

It's product and marketing plans. It's legal and financials; customer support and content plans. If you're doing it right, entrepreneurship means you are always standing at the edge of your next plan, always in a position to pivot as new information comes in and to update your plans accordingly.

The problem with such dynamic planning is that it takes time. Time to write out your plan. To assess what happened, and reassess if the current gameplan is still the best path. To think through the expected outcomes, costs and ROI.

Let alone making plans for things you're not-so-well-versed in. "I know I should have a Customer Onboarding Plan, but can someone please remind me of best practices again?"

Fortunately, we live in 2023 and some of the most powerful AI models in existence are available to help us with the more mundane and administrative side of business planning; so that you can focus on the strategic inputs and let your new AI-powered tools fill in the details.

In this post, I'll be sharing 6 of the best such AI-powered business plan generators. From tools to help you write out a formal business plan proposal (say, for applying for a business loan) to apps that will guide you through and generate plans for every step of your business building journey.

Let's take a look.

Best AI-Powered Business Plan Generators (2023 List)

• Tarkenton GoSmallBiz

Bizway is a little bit different to the other platforms on this list. From the ground-up, it's built with a simple idea: every task in your business deserves an AI Assistant. And while that absolutely does include business plan writing; it also includes every other step in that process.

When you're planning your business, you'll need some help with a variety of tasks. With Bizway, you can create:

• Market Research Assistants: To help you estimate market size, brainstorm target market segements and help with your pricing;
• Product Experts: To help you brainstorm product ideas, features, and how you'll develop it;
• Social Media Marketing Assistants: To write your content, brainstorm topics and ideas, do keyword research, and whatever else;
• And whatever other roles you need to help perfect your business plan.

This gives you full flexibility and freedom to sharpen your thinking and ideas for your business, before concretizing it in a more formal business plan.

Then, if you do need a more formally written document for an investor or when seeking funding, simply:

• Fill in the Business Model details that you'd like to include;
• Create a custom AI Assistant, name it 'Business Plan Writer' and give it instructions about styling, length and sections;
• Toggle on your new Business Plan Writer Assistant, and simply ask it to 'Write my business plan in full';
• And voila! Your business plan is served;
• Bonus: You can then follow up and ask for specific sections or details to be added/rewritten as you please.

The best part? Bizway doesn't end with a business plan. Once you have your plan, Bizway can serve as your new hub; with a team of custom AI Assistants to help you launch, grow and manage your business going forward.

Try Bizway .

2. LivePlan

Next on our list is LivePlan. This AI-powered tool is best known for its step-by-step guidance and interactive financial forecasting. It features easy-to-use templates and pitch guides, which can be a great starting point for startups and SMEs. LivePlan's Pitch feature helps you to quickly prepare a one-page infographic that highlights your business idea and its profitability to investors.

In addition, LivePlan allows you to benchmark your forecasts against similar businesses, giving you an insight into your competitive standing. The tool's performance dashboard also keeps you updated on your business progress, ensuring you stay on track with your plan.

3. Upmetrics

Upmetrics is an excellent AI-powered business plan generator that offers a plethora of features including a business plan editor, financial forecasting, and a collaboration feature that allows your team to work together on the plan. One standout feature of Upmetrics is its repository of more than 20,000 business ideas, which can provide inspiration for your own venture.

Additionally, Upmetrics has a Business Plan Analytics feature that allows you to analyze your business strategy and optimize your plan for maximum effectiveness. This is an excellent tool for entrepreneurs who want a deeper understanding of their business strategy.

4. IdeaBuddy

IdeaBuddy is a novel AI-powered business plan generator that targets entrepreneurs and startups in the initial stages of planning. The platform takes users through an organized idea development process dubbed "Idea Journey" that includes creating a business concept, building a business model, and planning a budget.

IdeaBuddy also offers an attractive feature named Storyboard. This tool allows you to visualize your business journey and share your vision with potential investors and stakeholders, fostering a deeper understanding of your idea.

5. GoSmallBiz

GoSmallBiz is a comprehensive business plan generator powered by AI. It covers all the essential aspects of a business plan including executive summary, company description, product/service line, and market analysis.

What sets Tarkenton GoSmallBiz apart is its integrated educational resources. With hundreds of business courses and webinars, users can deepen their business knowledge while creating a business plan. The AI tool also includes a real-time performance score that provides immediate feedback on your plan.

Rounding up our list is Bizplan, an AI-powered tool that makes business planning enjoyable with its interactive and easy-to-use interface. Bizplan breaks down the business plan creation process into digestible pieces through its "builder" approach.

Its standout feature is its ability to connect users to a global community of entrepreneurs, Fundable, where you can share ideas and seek feedback. Bizplan also has a robust financial forecasting tool that can help you project revenue, costs, and cash flow.

In conclusion, AI-powered business plan generators are an invaluable resource for entrepreneurs, startups, and small businesses alike. They not only simplify the business plan creation process but also provide insights and features that can significantly boost the success of your venture. With tools like Bizway, LivePlan, Upmetrics, IdeaBuddy, Tarkenton GoSmallBiz, and Bizplan at your disposal, you can confidently create a business plan that is both compelling and investor-ready.

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The 10 AI Prompts You Need to Write a Business Plan

Noah Parsons

25 min. read

Updated March 18, 2024

We’ve all been there. The ideas are swimming around in your head, but you’re stuck staring at a blank page and trying to figure out how to turn those ideas into something presentable.

I’d be lying if I said that I didn’t have that same feeling of “writer’s block” when I sit down to write – even this article didn’t start flowing right away.

The writer’s block is even more intense when writing a business plan .

Think about the stakes involved: Is the idea any good? Will the plan be compelling enough for a lender or investor to consider funding it? Even though I’ve written plenty of business plans, it’s always a challenge to figure out how to best present an idea.

This is where AI’s potential is so revolutionary.

The newest chatbots like ChatGPT, Google’s Gemini, and Anthropic’s Bard are excellent helpers, especially for business plan writing . They can take rough ideas and help transform them into cohesive plans that investors are going to want to read.

Instead of figuring out how to present your ideas, you can spend time on your business strategy, refining your marketing plan, and ensuring that your business solves a real problem that potential customers have.

In this article, I’ll share my favorite prompts to use and pitfalls to avoid when writing a business plan with AI.

These AI prompts are tested and generally work well with any chatbot. That said, there are real differences between some of the free, more basic chatbots — ChatGPT 3.5, for example — and the most modern, often paid, versions (as of February 2024) like ChatGPT 4 or Gemini Advanced. The paid versions are just better at writing and better at generating ideas.

Let’s go step-by-step through the process of using AI to help you write your business plan .

Be sure to read the warnings about over-relying on AI at the end of this article. You won’t want to make one of the most common mistakes and end up with a subpar business plan.

• Executive Summary

Don’t use this prompt until you’ve finished building out the rest of your business plan.

Your executive summary is just what it sounds like—a summary. You can’t really create a summary until you know the full details of your plan.

AI is really helpful here —it’s excellent at summarizing longer documents and creating shorter versions.

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Core Prompt:

Help me write a powerful Executive Summary for my business plan. My company is [company name], offering [products/services] in the [industry]. The executive summary should cover the following points:

• The Problem & Solution: Concisely describe the pain point my business addresses and my unique solution.
• Market Opportunity: Summarize the target market size, growth potential, and key customer segments.
• Business Model: Explain how we will generate revenue (pricing strategy, sales channels).
• Competitive Advantage: Highlight what sets us apart and how you’ll win in the market.
• Team: Briefly mention the key experience and skills of our management team.
• Financial Highlights: Provide a snapshot of our projections ( revenue, profit margins).

I’ve already completed the following sections of my business plan, which you can utilize for details: [complete plan content]”

Additional Prompt Elements:

• The Ask: “Include our fundraising ask. We are seeking an investment of [$] which will be used to [describe your use of funds].”
• Target Audience: “Our business plan will be presented to [describe your audience] so the tone should be [business like, casual, etc.]”

Imagine you are starting a meal delivery service business:

“Help me write a powerful Executive Summary for my business plan. My company is “Sunshine Meals,” offering healthy, pre-portioned meal delivery in the [city, state] area. The executive summary should cover the following points…”

• Clarity is King: Use simple language and avoid jargon.
• Data Wins: Quantify your potential with relevant figures.
• Tailor to your Audience: If the plan is for investors, heavily focus on market size, competitive advantage, team credentials, and financial outlook.
• Proofread Carefully: Make sure the AI draft of your executive summary matches what you say elsewhere in your plan.
• Embrace your voice: Beyond proofreading, edit and change the AI-generated words to make sure they sound like your voice and your business.
• Opportunity

The opportunity section of your business plan is where you provide an overview of the problem your business solves for your customers. It’s essentially an overview of your products and services and how your customers use them to solve their problems.

Your opportunity is the core of your business strategy and an area to spend a good portion of your time on. The most successful businesses solve a real problem for their customers, so it’s important to think carefully about the needs your customers have and how your product or service fits into their lives. 

AI will help generate a lot of ideas in this area.

Once you’ve run the prompt, sift through the ideas to find the best ones and perhaps dig deeper into the most promising ones. The better you describe the problem you are solving, the more focus you’ll have as a business owner.

It’s this kind of focus and understanding of customer problems that attracts investors and drives success.

I am starting a [business description]. Help me craft a strong “Opportunity” section for my business plan. Clearly articulate the problem I’m solving, my unique solution, and any traction achieved. I need to demonstrate why now is the right time for my business, [business name]. Describe the significant pain point or unmet need experienced by my target customers, [target customer description]. Explain how my product/service directly solves the problem, detailing its key features and benefits. How is it innovative or different from competitors?

• Describe my initial traction that I have with my customers, which includes [description of any early successes including sales figures, user growth, partnerships, positive testimonials, or awards.]
• Explain what makes this the ideal time to launch my business. Are there favorable market shifts, technological advancements, or gaps my solution is poised to fill?

Let’s say you’re developing a platform to connect freelance writers with businesses:

“I am starting a business that provides an online platform that connects freelance writers with businesses. Help me craft a strong “Opportunity” section for my business plan. Clearly articulate the problem I’m solving, my unique solution, and any traction achieved. I need to demonstrate why now is the right time for my business, The Written Word. Describe the significant pain point or unmet need experienced by my target customers, small business owners who need blog content, product descriptions, and marketing materials. Explain how my product/service directly solves the problem, detailing its key features and benefits. How is it innovative or different from competitors?”

• Storytelling: If you can, try and infuse this section with a brief story illustrating the problem’s impact on potential customers and how your product or service helps solve their problem.
• Simplicity: Keep things simple – don’t go overboard with too much detail about your solution. If your plan is too long, people won’t read it.
• Data: If you have data that backs up your problem description, be sure to include it. Don’t rely on AI to get that data, though—it likely won’t be accurate or sourced correctly.
• Make it Yours: AI might come up with some interesting ideas for describing the problem you solve. You need to filter and edit to ensure that the content accurately reflects your business.
• Market Analysis

This section of your business plan describes the market you are selling to.

Typically, the market analysis explains how many potential customers you have and a detailed description of your target customer. It’s important to stress that AI chatbots (as of March 2024) aren’t very good at this task.

The data they provide is often wrong.

You’re much better off doing your own research and finding reputable data sources instead of relying on AI. We are providing a prompt here, but be very careful to double-check any data that the AI provides.

You’ll typically find that AI will generate a lot of target market ideas .

Similar to the “Opportunity” section of your plan, it’s important to narrow down your target market to a few specific ones to start. The best strategies are usually very focused, so pick one or two core target markets to get started.

As Michael Porter, the famous Harvard Business School professor, once said, “The essence of strategy is choosing what not to do.”

Help me write a comprehensive market analysis for my business plan. My business is [business name], and we offer [products/services] within the [industry] sector. Cover the following key areas:

• Market Size & Growth: Quantify the current market size in terms of value or volume. Identify and discuss trends influencing market growth (or decline).
• Target Customers: Create detailed customer profiles of my ideal segments (demographics, psychographics, needs, buying behaviors).
• Market Segmentation: “Break down the market into smaller segments – are there lucrative niches to target?”
• Data Sources: “Suggest reliable sources for industry reports, market statistics, and competitor insights.”

Let’s say you’re opening a plant-based meal delivery service:

“Help me write a comprehensive market analysis for my business plan. My business is ‘Nourish’, and we offer healthy plant-based meal delivery within the prepared food industry. Cover the following key areas…”

• Be Specific : Avoid overly general target markets. Successful businesses target very specific customers initially.
• Visuals Aid Understanding: Use charts or graphs to visualize market data or segmentation.
• Support Your Claims: AI often does not give you reputable sources or will even make them up. The output may look impressive and accurate, but you must double-check everything and cite reputable sources for all your market data.
• Competitive Analysis

Like the market analysis section, be careful using AI for the competitive analysis section. It may invent potential competitors or miss out on key competitors that you know exist.

You can use AI to get the overall structure of this section, but you might be better off writing your own competitive analysis.

When you think about competitors, remember to not only think about direct competitors, but also indirect competitors. Indirect competitors are alternate solutions to a customer’s problem, while direct competitors are companies that offer a similar service or product as you do.

For example, a gym might compete against other gyms (direct competitors), but it also competes against running trails and people doing exercise at home (indirect competitors). 

A strong understanding of your competitors is important for developing your strategy. So, it will be worth looking beyond what AI generates for you and doing some of your own research.

Help me craft a strong “Competition” section for my business plan. My business is [business name], offering [product/service] in the [industry] sector. Cover the following key areas:

• Competitor Analysis: Identify my top 3-5 direct competitors and analyze their strengths, weaknesses, pricing, marketing strategies, and target customer overlap.
• Indirect Competition: List companies offering alternative solutions or partially addressing the same customer need.
• Competitive Advantage: Clearly articulate how my product/service is unique, better, or fills unmet needs compared to the competition.
• Barriers to Entry: Outline challenges new competitors would face (high startup costs, patents, customer loyalty to existing brands, etc.).
• Opportunities & Threats:
• Identify potential weaknesses in competitor offerings that I can capitalize on.
• Predict any competitive shifts that could threaten my business (emerging technologies, consolidation, etc.).
• SWOT Focus: “Summarize my competitive analysis in a SWOT framework specifically tailored to my business compared to the competition.”
• Future Outlook: “Analyze how the competitive landscape might evolve and how my business is positioned to adapt.”
• Customer Perspective: “Assess the competition through the eyes of my target customer – What influences their purchasing decisions?”

Let’s say you’re launching a sustainable clothing brand:

“Help me craft a strong “Competition” section for my business plan. My business is ‘ConsciousThreads,’ offering ethically sourced, sustainable clothing in the fashion industry. Cover the following key areas…”

• Be Honest: Don’t underestimate your competition; acknowledge their strengths.
• Differentiation is Key: Emphasize what truly sets you apart and makes you a compelling choice.
• Stay Up-to-Date: Monitor competitor activity even after your plan is written.
• Research your competitors: AI has been known to invent competitors, so don’t just take AI suggestions as truth. Look them up online, find their websites, and take time to get to know them through their online presence.
• Marketing and Sales

Use the marketing and sales section to describe the marketing tactics you’ll use to reach your target customers and what your sales process looks like.

AI shines for this type of task and will help you brainstorm marketing strategies and quickly generate a lot of ideas.

That can be a huge help to expand your thinking about your sales and marketing strategy. But, similar to other areas of your plan, you’ll need to narrow things down and get specific.

Your job will be to focus and pick the marketing and sales tactics that you think will work best for your business and your customers. Think about starting with one or two core ideas and then list ideas that you may explore in the future.

Because most new businesses don’t have endless budgets or people, a narrow marketing focus is a more realistic approach.

Help me develop a detailed “Marketing and Sales” plan for my business, [business name].  My target customers are [describe ideal customer profile] within the [industry]. Outline the following aspects:

• Market Positioning: Define how I will position my brand and offerings within the marketplace. I want to be perceived as [luxury, budget, etc.]
• Marketing Channels: Where does my target audience spend their time? List potential online and offline channels to reach them (website, social media, content marketing, trade shows, etc.).
• Sales Process: Outline the steps from lead generation to closing a sale. I will use a [direct sales team, online store, distributors, or a combination]. Describe the customer’s sales journey.
• Pricing Strategy: Explain my pricing model [premium, competitive, etc.] and the rationale behind it. Consider costs, market comparisons, and perceived value.
• Budget: “My preliminary marketing budget is [$]. Suggest marketing channels and marketing tactics that align with this budget”
• Metrics: “Identify key metrics to track the effectiveness of my marketing and sales efforts.”

Let’s say you have an online course business teaching creative writing:

“Help me develop a detailed “Marketing and Sales” plan for my business, ‘The Write Path’.  My target customers are aspiring writers seeking to improve their craft within the online education space. Outline the following aspects:…”

• Specificity Wins: Detail your channel strategies – don’t just list social media, outline the specific platforms and content types you’ll leverage.
• Test & Adapt: This section should be a living document that evolves as you gather real-world data.
• Actionable Plan: Include timelines and who’s responsible for executing different strategies.

Be Selective: Don’t just cut and paste all AI suggestions. You have a better sense of what will work for your market, so pick and choose what make sense for your business.

The operations section of your business plan goes over your basic business logistics, such as your location and facilities, the technology you are using, and any other operational specifics important to communicate in your business plan. 

You’ll need to customize this prompt quite a bit for it to work for your business as AI can’t guess at your location, the technology you’re using, or who your suppliers are. For each of the bulleted sections below, customize the content for your business before using the prompt.

Help me write an “Operations” section for my business plan. My business is [business name], offering [products/services] in the [industry] sector. Cover the following key areas:

• Location & Facilities: Describe my business location (physical/virtual/hybrid). Detail any specialized facility needs (manufacturing space, storefront, etc.).
• Technology & Equipment: Outline essential software, hardware, tools, and specialized equipment required. Specify any technology unique to my industry.
• Production/Workflow: Map out the process for creating my product or delivering my service. Identify potential bottlenecks for optimization.
• Suppliers & Inventory: If applicable, describe my sourcing strategy and relationships with key suppliers. Explain any inventory management systems in place.
• Regulatory/Legal: List any critical permits, licenses, or regulations that impact my operations.

Let’s imagine you’re starting a small-batch skincare company:

“Help me write an “Operations” section for my business plan. My business is ‘Radiant’, offering handcrafted skincare products in the beauty industry. Cover the following key areas:

Location: Our business offices are located in Brooklyn, NY and we have contracted with a third-party-logistics provider for packing and shipping in St. Louis.

Technology: We are using a Shopify store to sell online.

Research and Development: We work with an R&D that specializes in skincare and cosmetics in the Boston area.

Production: Our products are produced by a skincare producer located in the Philippines.

Regulatory: Because our products are organic, we need to be certified as an organic producer and have regular inspections of our production and ingredients”

• Be Realistic: Acknowledge any operational challenges or constraints
• Focus on Efficiency: Highlight processes designed to save time or minimize costs.
• Connect to Financials: Ensure operational choices align with your budget and projections. Remember, AI tools won’t be able to help much since they do not address financials and projections very well.
• Milestones & Metrics

Milestones are important dates for your business—essentially a roadmap for how you plan to build your business. You’ll focus just on key milestones, not every task that you need to complete. You’ll also want to review the key metrics that you will monitor to ensure that your business is successful.

AI can be helpful and give you some ideas for key milestones, but you’ll need to customize this section to match your business, your schedule, and your own timeline.

Milestones are all about goals and accountability.

It doesn’t matter how great your idea is if you can’t execute and make it happen. Milestones are all about coming up with a plan to turn your idea into reality, so spend a little time here thinking about a realistic timeline and plan.

Core Prompt

Help me craft a strong “Milestones and Metrics” section for my business plan. My business is [business name], offering [product/service] in the [industry]. Break it down as follows:

Key Milestones : Outline 5-8 of my most significant goals over the next 1-3 years. These should be specific: Avoid vague goals; state precisely what needs to happen. Time-Bound: Include a target date for completion. Relevant: Goals should directly support business growth and vision. Examples: Secure funding, launch product, reach a revenue target, open a new location, etc.

Key Performance Indicators (KPIs): List 5-8 metrics that will best measure the progress towards those milestones and my overall business health. Consider the following categories: Financial: Sales revenue, gross profit margin, customer acquisition cost (CAC), etc. Customer-Related: Net promoter score (NPS), customer retention, website traffic, etc. Operational: Production efficiency, order fulfillment time, etc. Explain why each KPI is important and how I plan to track them.

Let’s say you’re launching a subscription box service:

“Help me craft a strong “Milestones and Metrics” section for my business plan. My business is ‘Curated Delights,’ offering monthly themed subscription boxes in the lifestyle niche. Break it down as follows…”

• SMART Goals: Make sure milestones adhere to the SMART framework (Specific, Measurable, Achievable, Realistic, Time-bound).
• Regular Review: Use this section as a tool; revisit and adjust milestones and KPIs as needed.

Pitfalls: 

• Customize: This prompt will generate ideas for milestones and metrics, but you’ll need to customize them for your business to get the best results.
• Company Overview

Similar to previous sections, AI can help provide you with writing ideas and structure for the company overview section of your plan. It can’t describe your specific situation unless you provide it with the details.

You’ll need to know who the company owners are, what share of the company they each own, and what the legal structure is.

This section is less about strategy and more about just providing the facts. Use AI as a helpful copywriter here to turn your notes into polished text.

Help me write a “Company Overview” for my business plan. My company, [company name], operates within the [industry] sector. Cover the following essential details:

• Legal Structure: My company is a [Sole Proprietorship, Partnership, LLC, Corporation, etc.]. Briefly explain the reason behind this choice.
• Ownership: [List the owners/founders, their titles, and percentage of ownership]
• Company History: Summarize my company history based on the following information: [Founding date and location, major milestones achieved to date (if existing business), etc.]

Let’s say you’re a freelance web designer starting an agency:

“Help me write a “Company Overview” for my business plan. My company, ‘Creative Web Solutions’, operates within the web design and development industry. Cover the following essential details:

• Legal Structure: Creative Web Solutions is registered as an LLC for liability protection and potential tax benefits.
• Ownership: I, [Your Name], am the sole owner and founder.”
• Keep it Brief: This section is just about communicating the facts; other areas of the plan will provide more depth.
• OK to Skip: If you aren’t seeking investment, you likely don’t need this section.
• Management Team

Once again, without your input, an AI chatbot won’t have much to go on. That said, AI can take your rough notes about your team and turn them into polished writing. Just be sure to double-check everything to make sure your team’s skills haven’t been represented incorrectly.

Help me write a “Management Team” section for my business plan. My company is [company name] operating in the [industry]. Include the following:

• List titles and roles of the core management team (founder(s), CEO, CMO, etc.).
• Provide a brief bio for each member, focusing on relevant experience, skills, and accomplishments that demonstrate their suitability for their role.
• Summarize the collective strengths of the management team and how they complement each other.
• Highlight any specific industry knowledge or expertise.
• List any formal advisors or board members.
• Outline their backgrounds and how they add strategic value to the business.
• Acknowledge any current gaps in expertise within the team and your plans to fill them (future hires, consultants, etc.).

Imagine you’re starting a tech startup with a co-founder:

“Help me write a “Management Team” section for my business plan. My company is ‘Innovatech’ operating in the software development industry. Include the following:..”

• Showcase Passion : Briefly mention what drives each team member and their commitment to the company’s vision.
• External Validation : Awards, past successes, or notable affiliations of team members add credibility.
• Be Honest : Investors appreciate transparency about potential shortcomings and your plan to address them. Make sure you edit what AI writes, that it accurately reflects the gaps in your team, and that it sounds like you.
• Financial Plan

Unfortunately, AI help can only take you so far with your business plan, which is the biggest pitfall in using AI to generate your plan . While it’s great at brainstorming and turning notes and ideas into polished text, AI is just not capable of pulling together the complete financial forecasts that businesses need and investors expect.

To create a financial plan , a spreadsheet or a business planning tool are the right choices for the job. Here’s why:

• Flexibility: Creating a financial plan takes some experimentation. As you adjust your expected revenue and expenses, you’ll want to see in real time what the impact is on your profitability. AI Chatbots don’t provide that kind of interface and require slow regeneration that often introduces unwanted changes and surprises.
• Cash Flow: Forecasting cash flow can be challenging, especially if you’re dealing with inventory or customers that don’t pay you right away. Business planning tools have these calculations baked in so you can adjust your assumptions about when you think you’ll purchase inventory and when customers will pay and immediately see how your cash is impacted.
• Accuracy: As it is, chatbots like ChatGPT aren’t known for their honesty. You don’t want to apply for a loan or present to investors with a forecast built by AI because you can’t be sure all the math is 100% accurate. You’ll want to be confident in your numbers to run a successful business.
• Know your business: When you build your own forecast, you develop a deep understanding of how your business works. AI can’t give you this knowledge . And without a solid understanding of how your business works from a financial perspective, it will be challenging to be successful.
• It’s what investors want: Lenders and investors expect financial forecasts in a specific, standardized format. While AI can help you with the basics, it can’t develop an accurate balance sheet or cash flow forecast for you.
• Better Business Management: The key to running a successful business is paying attention to the numbers: are you getting the revenue you expect and are your expenses on track? A good planning tool, or at the very least a spreadsheet, will help you keep track of your numbers so you can know exactly how your business is doing and what changes need to be made.

All of that said, AI can help you understand how you might want to start your forecast.

It can suggest common revenue streams and expenses for your business so you can make sure that you’re not overlooking anything. AI might even give you some new ideas for how your business might make money. Here’s how you can get AI to help:

Help me generate a comprehensive list of potential revenue streams, cost of goods, and expenses to include in my financial forecast for my business, [business name].  My business operates in the [industry] sector and offers [products/services].

Let’s say you’re a freelance graphic designer:

“Help me generate a comprehensive list of potential revenue streams and expenses to include in my financial forecast for my business, “Visual Designs.” My business operates in the creative services industry and offers logo design, branding packages, and website design services.

• Don’t Get Too Specific: Think about broad categories for revenue streams and expenses – things that you’d want to track and pay attention to over time. Don’t list every minor thing.
• Pay Attention to Profits and Cash: For most businesses, profit and actual cash in the bank are different things. Your forecast will help you spot future cash problems that might happen even when you’re profitable.
• Revisit Regularly: Successful businesses track their performance compared to their revenue goals and expense budget, just like you track things with a personal budget. 
• Don’t try to use AI to generate your numbers: You will need to use a financial model and take the time to put together a full financial forecast.
• Important Advice and a Warning for Using AI for Business Planning

There are two points I want to stress as you think about using AI to help write your business plan.

1. You need to know your business

The first is that good, healthy businesses grow because owners and entrepreneurs deeply understand their business.

Yes, you can use AI to help you write a business plan, but that plan needs to be yours — the ideas, how the business works, your competitive advantage. If you’re not 100% behind the ideas in the plan, you’re much less likely to be successful.

The most valuable benefit of business planning is not the document that you end up with, but the ideas that you generate through the process.

The planning process helps you focus on a winning business strategy, a marketing plan that will bring customers in the door, and a detailed understanding of your customers. The document is just a byproduct of the process.

The knowledge that you gain is what’s truly valuable.

2. AI isn’t perfect

Second, as impressive as AI is, it makes mistakes. It invents things. So make sure to double check any “facts” that AI presents. AI is better at ideation and brainstorming than doing detailed market research and creating financial models. 

To use AI successfully, it’s important to understand its strengths and weaknesses .

It’s a tireless business partner that you can bounce ideas off of. It’s always ready to brainstorm and help you generate 100 new ideas. But it’s not a great research assistant or number cruncher — at least not yet.

For those parts of your plan, use the tools that are best for those jobs.

If you’re looking for an AI-powered tool to improve your writing, suggest revenue streams and more, I recommend you check out the LivePlan Assistant . It’s the only AI business planning tool backed by over 30 years of business planning and forecasting expertise.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

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2023 will forever go down as the birth year of AI.

Historians will look back at 2022 as 1 B.A. (before AI) and 2023 as the first year of the new digital era.

Okay, so that might be a small exaggeration, but there is no denying the monumental impact AI has already had on everybody’s lives and how much is to come.

And as the world scrambles to catch up and understand AI’s true potential, there’s a window of opportunity for you to seize.

Because once the world truly wakes up to the potential that AI can offer us, what will they do first?

Search for AI-related businesses to learn from, purchase from, or even work with.

In this article, we will discuss how to use AI to start a business in 2024, helping you prepare yourself for the future and capitalize on this exciting (if not slightly terrifying) technology.

Table of Contents

The Rise of AI in 2023

Ai ecommerce tools to check out, 4 businesses you can start using ai, 3 common ai business pitfalls to avoid.

For anyone who has been living under a rock, 2023 was the year that AI burst onto the scenes in a big way.

Sure, artificial intelligence has been lingering in the background, supporting founders and entrepreneurs for some years now in the form of algorithms, Google rankings, and email marketing automation.

But this was the year that AI stepped up its game and took things to the next level with the developments in generative capabilities that we once thought would never be possible.

Before we dive in, let’s take a look at some of the tools that you can use to improve your current business or even launch a new one in 2024.

Tools for text content creation

First, there are many tools to consider for content creation, such as ChatGPT , Claude , GravityWrite , and more.

Originality.ai has been reviewing each of these tools impartially, testing each one out and helping you decide which one is right for your needs. There are over 100 reviews on there now, and you can check them out here , along with some other great AI-based content.

Tools for graphics

While text generation is certainly the most mainstream AI tool currently, there are also plenty of tools that can help with your graphic content generation, such as company logos, product imagery, and other imagery requirements.

These include Colormind , Looka , Photo AI , and Midjourney , to name a few.

Tools for ecommerce and marketing

Ecommerce and marketing AI tools are where the fun really begins, with a wide variety of tools to help you build apps, create landing pages, implement dynamic pricing, and so much more.

Some of the best tools to consider adding to your ecommerce brand include Replo , Minderest , Ad Creative AI , Imagica , Shopify’s Sidekick , and more.

With all that in mind, let’s dive into our list of businesses you can consider starting by using AI in 2024.

1. An Ecommerce Business

When it comes to the world of ecommerce, it has never been easier to start your own business. Websites like Shopify make it easier than ever to launch your digital store, platforms like Upwork can quickly connect you with the freelance support you need to get started, and companies like Printful can take the burden of holding stock and delivering products while you grow your audience.

Throw AI into the mix as well, and suddenly, the process becomes even quicker. But rather than just viewing AI as a tool that can help you create a few generic blog posts to publish from time to time,

I want you to think bigger.

For example, tools like ChatGPT can easily whip up the framework you need for a robust privacy policy, terms and conditions page, or any other service page for that matter.

But let’s go back a step further. AI tools can act as your very own sounding board. Let’s say, for example, you are keen to create a streetwear clothing brand focused on skateboarding, snowboarding, and other extreme sports.

Why not ask ChatGPT to help us brainstorm some names?

Here’s what I got back from the tool:

A quick Google search of “Stunt Style Clothing” and it looks like we have a winner!

Just one more quick check…

Perfect! Just like that, AI has helped us create our brand name. We could also expand this further by asking ChatGPT to provide us with a tagline related to our chosen title or ask it for help establishing our company values, and so on.

Now that we have our streetwear brand, we can also start to consider imagery that we want to add to our clothing. Fortunately, tools like Midjourney can help.

These concepts would need a little more work but give you an insight into what’s possible.

As you can see, AI tools can do so much more for an ecommerce brand than simply generate articles, not to mention the negative impact that they can have on traffic, which I will touch on later in this article.

2. An AI Consultancy Brand

Aside from using AI to ramp up content creation and idea generation in ecommerce, AI is also set to disrupt the consultancy space in the coming years.

Bigger companies are notoriously slower on the uptake when it comes to new technology, given the many lines of red tape they must get through first.

But when they do get up to speed, and given they likely won’t have already employed an AI Content Expert at this stage (although chances are, most employees are already using ChatGPT at work), one of the first resources they will seek out is an AI consultant.

They will be desperate for advice on how they can capitalize on this new technology and use it to drive profits and growth because, well, capitalism.

And who will be standing there, ready to help their next phase of growth? You, the robot guru.

Okay, maybe don’t call yourself “The Robot Guru” (although it does have a certain ring to it), but you get my drift.

We are already seeing these types of roles start to appear on sites like Freelancer , Fiverr , and Upwork , and these freelance platforms are often a solid indicator of what is soon to hit the mainstream.

Now let’s say you have decided to become The Robot Guru (what can I say? It’s grown on me). The first thing you need to do is get a high-quality company logo.

To do this, let’s test out Looka , an AI logo generator.

Here’s what the tool provided us with:

Over 20 viable options for us to choose from and tweak further! All done with just a couple of clicks.

So, how do you become an AI consultant ?

Well, the good news is the age of AI is still so new that anyone can become an AI expert with the right experience. That means subscribing to newsletters, digesting key content such as our AI Summit , and generally upskilling yourself until this is a service you feel confident providing.

3. Become an AI Prompt Engineer

AI consulting is not the only business you could consider launching in 2024. Another job that is sure to ramp up in demand over the coming years is AI prompt engineer . While there isn’t much demand for this job currently, that doesn’t mean that businesses won’t clamor for this service, like millennial women for a Taylor Swift concert (let’s face it, it’s not just women), and you can be there, ready to prompt their business into the age.

“But Graeme, what is AI prompt engineering?” I hear you ask through your device (not quite yet, but with the way things are going, maybe by 2025).

Well, an AI prompt engineer is essentially an expert in getting the best possible results from AI content tools by writing detailed and well-crafted prompts. An AI prompt engineer will know how to communicate with chosen AI tools to ensure the content produced meets brand requirements, mirrors tone of voice, and other key elements. This role will likely play a key role in content creation and marketing in general in the years to come.

4. Create Your Own Chatbot or AI Tool

AI consultancy might fit the bill for some, as they enjoy getting others up to speed with the new technology.

But for some, getting others up to speed won’t satisfy their needs. They want to be at the forefront of driving technology.

And for those of you who just read that sentence and clapped your hands together as a small feeling of opportunity and excitement washed over you, why not consider building your own AI tool?

Rather than becoming a master of the tools already out there, why not create your own with an innovation that helps drive the conversation forward?

Since ChatGPT was thrust onto center stage over a year ago, many different iterations have come to the market, as the OpenAI code is easy to access.

With the right skills and expertise in your ranks and a unique selling point that sets you apart from other chatbots and tools already in existence, there is still time to become the go-to AI platform for certain needs.

For example, tools like Instantly.ai have risen to prominence, as they have used generative AI to create a tool designed to speed up the cold email process.

Even though AI is flashy and new, the same business principles that we teach here at foundr apply: Identify a problem, solve it for a target market, create a unique selling proposition, and get to work promoting your new invention! The beauty of this business model is that once your platform has been created, you can make minor tweaks, all while taking a tidy profit from your monthly subscribers.

Keep Learning:  How to Start a Startup (Advice from Those Who’ve Done It)

Now, while all those options sound extremely exciting (as they should; they took me a long time to pull together!), there are some caveats to be aware of.

But remember, there are caveats for everything in life! While you should certainly bear these common pitfalls in mind, don’t let them stop you from creating your brand-new AI-focused business.

1. Don’t Get Google’d

In late 2023, Google made some pretty significant algorithm updates , which had a major impact on how they rank content on the first page of Google and severely impacted the approach of SEO experts and businesses across industries.

“Why? How could you do this to me and my family?” are just some of the questions being asked by website and business owners (well, the dramatic ones anyway).

The main purpose for the significant update, which aims to promote content that adds value, brings the conversation forward, and demotes content that seems generic or mundane, is to ensure that they are future-proof to the imminent influx of AI-generated content.

Gone are the days of generating articles and slapping a few keywords in there for good measure. Now, you need to provide your readers with well-thought-out, insightful, and downright entertaining content, or Google ain’t gonna play ball.

You need to provide your readers with well-thought-out, insightful, and downright entertaining content, or Google ain’t gonna play ball.

A secondary purpose that many are speculating about is slightly more cynical.

Ever heard of AI model collapse?

No, neither had I. But after doing a little digging, it’s clear that if AI learns from AI-generated content, it goes to mush.

The human equivalent I can think of is imagining talking to yourself in a mirror. At some point, you’re going to break down and start crying (my current record is 47 seconds).

And what do AI models, including Google’s creation Gemini, all learn from? The top search results, of course! So, to ensure AI-generated content doesn’t flood the front page, they need to continue promoting human-written content to the top—for now, at least—to continue feeding its models and moving the technology forward.

Am I happy my work is likely feeding into an AI robot? Not really.

Am I pleased it means my writing still has value? Absolutely.

With all that in mind, it is important that you don’t fall into the trap of simply generating content, adding some key terms, and posting them. That’s so 2023, and it’s not going to cut it.

2. Quantity Over Authority

Instead, if you opt to become an AI prompt engineer, provide AI content consultancy, or use AI to help speed up your content creation process in any way, do so cautiously, ensuring you always add your own personal touch and authenticity to anything you create.

As Google stated in its big 2023 November update, they are looking to promote content that brings the conversation forward, adds value to what is already out there, and shows off authenticity and authority.

For example, if you plan on using AI to speed up the content production element of your ecommerce store, by all means, use tools like ChatGPT to help generate content ideas and even outlines, but always ensure you add your own personal touch, opinion, and value to any content you produce.

3. You’ve Still Got to Put in the Work

As you’ll likely have gathered from this article and our recent AI Summit, AI was an industry disrupter in 2023, but it’s set to be a game changer in 2024. When used correctly, various AI tools have the power to rapidly increase the speed (and, in some instances, quality) of production, marketing, and sales.

But you’ve still got to roll up your sleeves and put in the work.

Just because the tools are readily available doesn’t mean you can start taking it easy. After all, these tools aren’t just available to you; they’re available to your competitors, too. Not only that, but they will also lead to more competitors in your industry as they help break down the barriers to entry for other potential entrepreneurs.

These tools aren’t just available to you; they’re available to your competitors, too.

But with the right tools and approach and the hard work that has taken your business this far, AI tools can take you to the next level.

Don’t Wait to Start an AI Business In 2024

As the old saying goes, the best time to do something was yesterday.

The second best time? Today.

While it might seem like many people have already jumped on the AI train, and it feels like it’s already left the station, we are actually just at the start of what is sure to revolutionize the way we work, think, operate, and live in the coming years.

People said the internet boom would disrupt the work landscape, and AI is set to give it a run for its money.

Speaking of money, you can get access to all the AI tools and training you need to start making some from your AI-based venture via the foundr+ all-access membership .

About Graeme Whiles

Graeme is a highly experienced copywriter with an extensive Content Marketing and eCommerce background. He has a passion for writing and everything related to eCommerce and marketing. Learn more about his work at his website.

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11 Best AI Tools for Small Businesses & Startups (2024)

Ajay Jagtap

• December 28, 2023

16 Min Read

What’s your opinion about AI being the future? Is it the future? Let’s better call it the present—it’s already here.

We’re living in a world surrounded by AI tools.

Today, these AI can write articles, create videos and graphics, answer customer queries, recognize objects, and do countless other tasks that once required hours to finish.

It’s high time you invest in efficient AI tools for your small business and make the most of this transition toward AI.

Wondering which tools to consider starting off? Here you go.

We’ve compiled our research of the best AI tools for small businesses into this quick guide. This list includes AI tools for business planning , content writing, customer support, and more.

Sounds good? Let’s get started.

As we begin to explore the top AI-powered tools, let’s briefly talk about their benefits:

Benefits of Using AI in Small Businesses

Can AI help in business operations? Yes, and It’s doing it already. In fact, more than 9 in 10 leading businesses have ongoing investments in artificial intelligence and AI tools.

So, let’s quickly discuss the benefits of using AI tools for small business operations.

• Increased efficiency & productivity: AI tools can improve employee efficiency and productivity by automating manual tasks, saving time, and reducing errors.
• Cost cutting: AI can significantly lower business operational costs by streamlining operations and automating manual tasks.
• Personalized customer services: Advanced AI tools and chatbots can help small businesses personalize the customer experience at scale, maximizing customer retention and sales.
• Reduced workforce: AI can handle manual and repetitive tasks, so investing in efficient AI tools can help businesses significantly reduce their workforce.
• Increased profitability: Increased efficiency & productivity and reduced workforce and overall costs ultimately help you increase business profitability.

These are just a few of the many benefits. But we’ll surely cover others while discussing the AI tools moving forward.

Shall we begin? Let’s dive right in.

The Best AI Tools for Small Businesses of 2024

• Upmetrics : AI for business plan writing
• ClickUp : AI for project management
• Jasper AI : AI for content writing
• Zoho Zia : AI for sales teams
• GrammarlyGO : AI personal writing assistant
• ChatSpot by Hubspot : AI Sales & Marketing Assistant
• Dall. E 2 : AI image creator
• Manatal : AI recruitment software
• Motion : AI for productivity
• Lumen5 : AI for video creation
• Otter AI : AI meeting assistant

1. Upmetrics—AI Business Plan Generator

Writing a business plan is easier than ever with Upmetrics AI Assistance .

It can help you generate text, rewrite content, shorten or expand it, and it also allows you to change its tone.

The subscription includes 400+ sample business plans , video tutorials, well-written documentation, and guides to ensure you are on the right track.

But how to get started?

The tool offers an intuitive and easy-to-use interface, so it’s pretty simple to get started. Simply select the “Write with AI” option from the Upmetrics business plan editor for AI assistance.

Upmetrics could be an incredible investment for business planning compared to other AI business plan creator .

Here’s a quick overview of its best features and pricing:

Best Features:

• AI-powered text generation to write on your business plan.
• Content rewriting feature to polish or enhance content quality.
• Content shortening option to briefly describe the context.
• Expand upon your idea and introduce new concepts.
• AI-powered assistant to help adjust the tone of your writing.
• Accurate & reliable information depending on prompted information.
• Real-time updates and cloud storage, eliminating the risk of data loss.
• Intuitive, seamless, and responsive user interface.
• Check and correct grammatical errors and spelling mistakes.
• Business resources, video tutorials, and guides to help get started.

Check out Upmetrics’ pricing plans:

Remember, only Upmetrics premium users can access the AI assistance feature. Refer to the pricing page for more information.

Create winning Business Plans with our

Plans starting from $7/month

ClickUp is a cloud-based project management software helping entrepreneurs and small businesses streamline project management, collaboration, and task planning.

ClickUp’s AI writing assistant uses natural language processing (NLP) algorithms and is accessible across the platform, generating content tailored to meet specific requirements.

It can assist you in creating new tasks, writing marketing emails and copies, and preparing ClickUp docs.

Here’s an overview of some of its key features and limitations:

• 100+ role-based AI tools to speed up your workflow.
• Brainstorm new ideas, generate outlines, and write with AI
• Summarize long-form content in one click.
• Connect third-party apps like Slack, Hubspot, Zoom, and 1000+ more.
• No-code automation for repetitive tasks.
• Accessible via the web, desktop, and mobile apps.

Limitations:

• ClickUp AI is not available on their free plan.
• The platform can be overwhelming to understand for new users.
• The pricing for the AI-assistant add-on is quite high.
• ClickUp AI can only be purchased for your entire workspace.

Note : Only paid plan members can access ClickUp AI; it’s not available on the free plan.

Ratings and Reviews:

• G2: 4.7/5.0 (8,300+)
• Capterra: 4.7/5.0 (3700+)

3. Jasper AI

Jasper AI is a content writing tool helping entrepreneurs and marketers create and publish high-quality content at scale.

It can be used to write long-form articles and blog posts, social media posts, product descriptions, marketing campaigns, and other forms of content.

It’s an easy-to-use, efficient, and cost-effective solution for content creation, making it an excellent solution for content marketing.

Here’s an overview of some of its key features, limitations, and pricing:

• 50+ templates to speed up content creation.
• Can help you create content in 30+ languages.
•  Provides AI suggestions and helps in auto-completing text.
•  Integrates with tools like Grammarly and Surfer SEO.
•  Translate text from one language to another.
• Can repurpose content for various platforms
• Creating technical and well-researched content can challenging.
• AI technology may not always provide accurate and factual information.
• A lot of fact-checking, research, proofreading, and editing is required.
• The plagiarism checker costs extra with Jasper AI.

Jasper doesn’t have a free plan. However, they provide a 7-day free trial on all their paid plans.

• G2: 4.7/5.0 (1,220+)
• Capterra: 4.3/5.0 (1,700+)

4. Zoho Zia

Zia is an AI-powered assistant by Zoho, helping the sales team collect customer data, write documents, automate manual lead management, and maximize sales numbers.

This AI-powered assistant can be integrated with the company website, social media profiles, and emails to respond to customer inquiries and provide support.

It also helps startups and small business owners manage calendars, schedule appointments, and create customer behavior, sales trends, and business performance reports.

If you’re a sales team looking to automate and streamline processes, this is the AI tool you need.

Best features:

• Recommends tags and suggests the best notebook for your notes.
• Uses the no-code builder to make machine-learning predictions.
• Notifies you about anomalies like a sudden drop in calls.
• Can distribute leads to the best sales rep, depending on availability.
• Can generate charts and pivot tables from spreadsheets.
• Offers grammar suggestions using ML techniques.
• Its user interface is comparatively difficult to navigate and use.
• Some Zia users have reported frequent glitches and issues.
• Zia’s free version has limited features; you must upgrade to a premium plan to access additional functionalities.

Pricing(Zoho SalesIQ):

Remember, only the enterprise plan includes AI features like an answering bot, smart suggestions, and company profile enrichment.

Zoho Ratings and Reviews:

• G2: 4.7/5.0 (2,400+)
• Capterra: 4.3/5.0 (6,300+)

5. GrammarlyGO

GrammarlyGO is Grammarly’s newly launched AI personal writing assistant for working professionals and entrepreneurs. It helps you make sure your content is engaging, easy to read, and free of any spelling, grammar, and punctuation errors.

Isn’t it something Grammarly has been already doing? Yes, of course. But, there’s more to it with GrammarlyGO.

In addition to spelling and grammar corrections, it can help you brainstorm content ideas, prepare outlines, summarize content, find content gaps, and a lot more using text-based prompts.

Let’s learn more about its feature offering and limitations:

• Built-in plagiarism checker to ensure authentic content.
• Change the tone of your text and type of English.
• Generate your first draft in seconds using AI prompts
• can be used in other desktop apps like Docs, LinkedIn, MS Word, etc.
• Corrects spelling mistakes, and grammar, and improves readability.
• Writing assistant to help brainstorm ideas prepare outlines, & more.
• Grammarly is limited to the English language.
• Premium plans can be expensive for small businesses.
• Grammatical and readability suggestions may not always be accurate and relevant.

Grammarly Ratings and Reviews:

• G2: 4.7 (5,758+)
• Capterra: 4.8 (6,987+)

6. ChatSpot by Hubspot

ChatSpot is an AI-powered sales and marketing assistant designed to help entrepreneurs and business owners streamline operations through best AI practices. This artificial intelligence tool combines the power of ChatGPT with other data sources.

The best thing about ChatSpot is, it’s 100% free to use—even if you aren’t a HubSpot user. It can be integrated into content generation, sales prospecting, and SEO content marketing.

It can help you write engaging social media posts, draft long-form blogs, create AI-generated images, and more.

• Prospecting templates to identify key opportunities for outreach.
• Create AI-generated images and draft blog posts and tweets.
• Discover keywords, analyze phrases, and understand competitor strategies.
• Add contact or company details to your CRM in one click.
• Directs you around the Hubspot app to help you make the most of your CRM.
• Deep insights into company data like funding rounds and technologies used.
• ChatSpot may not always understand your commands every time.
• Response time for ChatSpot can comparatively be longer than usual.
• Unlike ChatGPT, this AI tool clears all your chat history after reloading.
• Beta version is free to use.

Hubspot Ratings and Reviews:

• G2: 4.7/5.0 (9,900+)
• Capterra: 4.5/5.0 (3,700+)

7. Dall. E 2

Dall. E 2 is an AI system developed by Open AI that generates realistic images and art from natural language prompts and descriptions. Furthermore, It can also combine concepts, attributes, and styles based on your description.

This AI platform can be invaluable in creative inspiration, fashion designing, art creation, and CGI creation—saving time, money, and resources.

Its speed, customization options, accessibility, and iteration make it the best AI image-generating tool in the market.

Here’s an overview of Dall. E 2’s best features, critical limitations, and pricing:

• Generate high-quality images from textual descriptions.
• provides an intuitive and easy-to-use user interface.
•  Every prompt generates four unique image variations.
• Text prompts allow you to replace different elements in a picture.
• Image expansion beyond the canvas using the outpainting feature.
• While using this AI chatbot, you must have a clearly defined prompt to generate the right image.
• Some users reported that the Images generated by Dall. E 2 may not look real enough.
• Whether trained or copyrighted, images generated by the tool remain a major concern.
• $15 for every 115 credits
• (1 credit = 1 text prompt with 4 image variations)
• G2: 3.9/5.0 (22+)

Manatal is an AI recruitment software designed to help HR teams source and hire talent faster. The tool is best suitable for HR teams, recruitment agencies, and new-age startups.

It’s an easy-to-use AI software with no steep learning curve that can be used for simplifying the hiring process through AI automation.

Manatal includes features like matching recommendations and candidate profile enrichment. You can access Manatal on all your mobile, tablet, and desktop devices.

Here’s an overview of some of its best features and limitations, along with pricing plans:

• Suggests best candidates for the job while automating redundant tasks.
• Score candidate profiles based on job requirements.
•  Enriches candidate profiles with data from LinkedIn and other social media.
• Access Manatal features from all your devices—mobile, desktop, etc.
• Fast setup and compatible with all web platforms.
• Efficient candidate sourcing from various channels.
• The software admin page needs to be accessed manually to generate weekly reports.
• Users can only upload a maximum of 1000 resumes at a time.
• Some users have reported frequent glitches while using the software.
• G2: 4.8/5.0 (135+)
• Capterra: 4.7/5.0 (132+)

Motion is an AI calendar app that automatically builds your schedule, plans your day, and creates perfect to-do lists using machine learning and AI algorithms.

This AI tool automatically plans your day considering variables like deadlines, working hours, meetings, and average task duration. The best part is that it schedules meetings while ensuring they don’t conflict with your calendar.

In short, it can be a great addition to your pack of AI tools for small businesses, helping you save time, stay ahead of your day, and be more productive.

Here’s an overview of its best features, limitations, and pricing plans: 

• Plan your day and schedule meetings with AI and automation.
• See your daily schedule in one click.
• Automate tasks and project scheduling with AI.
•  Let AI create perfect to-do lists.
• Keep all your project information in one place.
• Motion desktop app can be buggy at times due to its frequent glitches.
• The mobile app is not as user-friendly as the other versions of it.
• It can make a schedule for two weeks at a time.
• The AI app does not have a free plan.
• G2: 4.3/5.0 (68+)
• Capterra: 3.8/5.0 (13+)

Lumen5 is an AI-powered cloud-based video-editing and making solution for business owners and marketers to streamline video content creation. They have an AI feature built to repurpose marketing content that automatically turns blog posts into engaging videos.

Lumen5 has a built-in library of 500M+ images, templates, and high-quality videos to help create videos that make your brand stand out.

If you find video editing overwhelming and time-consuming, this is the tool you need. Here’s an extended overview of some of its key features, critical limitations, and pricing:

• Repurpose marketing content
• Bespoke branded templates
• Generate automatic captions for all your video clips
•  Teams & collaboration features
• Lets you turn blog posts into videos
• 500M+ images, templates, and videos
• Finding the right music can be time-consuming.
• Some users have reported its video layouts need to be updated, and the user interface needs to be clearer.
• Editing or changing individual frames can be difficult for some users.
• G2: 4.5/5.0 (65+)
• Capterra: 4.6/5.0 (135+)

11. Otter AI

Otter AI is an AI meeting assistant that can help you record conversations, create audio files, transcribe user interviews, write notes & generate summaries, making your meetings more efficient and productive.

It can be integrated with Google and Microsoft Calendar and automatically record your meetings on Zoom, Google Meet, and Microsoft Teams.

Furthermore, this AI tool generates real-time meeting summaries, allowing users to catch up on anything missed.

Here’s a quick overview of its best features and critical limitations.

• Produces meeting notes from transcriptions.
• Otter AI chats to get answers instantly during meetings.
• Transcribe audio and video files
•  Generates live summaries of Zoom recordings or meetings.
• Transcribe YouTube videos
• Expert your conversation to TXT, DOCX, and PDF.
• Utter can help transcribe user interviews but can’t avoid filler words like “hmmm.”
• Sometimes transcription can spell words incorrectly.
• It takes longer than usual to upload audio transcripts to the website.
• G2: 4.1/5.0 (110+)
• Capterra: 4.5/5.0 (67+)

ChatGPT—A Free AI tool for small businesses

ChatGPT is the most efficient and reliable yet free AI chatbot online. It is an AI language model trained by OpenAI, using machine learning algorithms to generate human-like responses to text-based prompts.

Despite the fact that it’s not on our primary list, we rate it very highly and recommend that every business owner utilize it.

It can be used in content creation, content & email marketing, language translation, customer support, business planning, and other aspects of business operations.

While ChatGPT is entirely free to use, there is a $20 monthly fee for ChatGPT Plus.

And our list ends here, but before we conclude—let’s look at how you can select the right tool for your business.

How to Choose the Right AI Tools for Your Business?

The tools mentioned earlier were all about helping you streamline your business processes. But, if you still seek assistance choosing the right tools for your requirements, here are a few factors to consider before calling the shots.

• Understand your requirements : Understand your business objectives and priorities before investing in any tool. This will help you understand areas of business that need optimization and can be automatized.
• Training requirements: Understand the level of training required while onboarding an AI software. Ensure you can invest time in employee training and that the AI tool provider offers adequate support.
• Industry Experience: Make sure the tool provider has significant experience dealing in your industry to understand user behavior and provide actionable insights.
• Ethical and legal considerations: Make sure using AI in your business doesn’t violate laws or bring any legal or ethical violations.
• Return on Investment: Conduct a quick ROI analysis and determine the expected benefits or returns of using a tool to ensure the return justifies the investment.

That’s it for today. Keep these factors checked while selecting and investing in an AI tool, and you will be alright.

That’s it for today. We hope you found the tool you were searching for when you started reading. If not, go back and see if you can find something you missed earlier.

However, if need help writing a business plan, Upmetrics is the best AI business plan generator. Sign up now, and get the first draft of your business plan ready in no time!

Build your Business Plan Faster

with step-by-step Guidance & AI Assistance.

Frequently Asked Questions

What is the best ai tool for small businesses.

Many incredible AI tools exist for small businesses, including ChatGPT, Jasper, ClickUp, and others.

However, business planning being the most crucial aspect of business growth, Upmetrics is a must-have AI business planning tool for small business owners.

How can AI be used in small businesses?

AI can be used in content creation, content & email marketing, language translation, customer support, business planning, and other aspects of small business operations.

Can AI generate a business plan?

Indeed. AI business plan generators like Upmetrics can help you write a business plan in a few hours, which used to take several days.

Is there a free AI tool?

Yes, ChatGPT is the most efficient and reliable yet free AI chatbot online. While it is entirely free to use, you can purchase its premium(ChatGPT Plus) monthly subscription at $20.

How do I use AI on a startup?

There are many ways to utilize AI for a startup, but using it to create a business plan for your startup would be an ideal way to get started.

How can AI benefit your small business?

AI can help your small business increase employee productivity and efficiency, cut down costs, personalized customer services, and increase profitability—ultimately maximizing your ROI.

About the Author

Ajay is a SaaS writer and personal finance blogger who has been active in the space for over three years, writing about startups, business planning, budgeting, credit cards, and other topics related to personal finance. If not writing, he’s probably having a power nap. Read more

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AI’s Most Promising Startups Are Getting Younger And Leaner

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Last year, OpenAI chief Sam Altman predicted that the artificial intelligence revolution will someday birth a company with a $1 billion valuation and a single employee. The companies on Forbes ’ sixth annual AI 50 show that while there’s a long way to go to reach that prediction, the sector’s most promising startups are trending in that direction.

Only three companies on the list have at 1,000 employees or more: defense tech provider Anduril Industries, data analytics firm Databricks and AI model developer OpenAI. This year’s list is dominated by new entrants with smaller headcounts: 28 of the companies are making their AI 50 debut, part of a nascent new economy developing around the AI boom .

Roughly a third of the newcomers enjoyed massive business traction over the past year selling the infrastructure needed for AI applications, as in the case of Pinecone’s database software that has valued it at $750 million, LangChain’s AI app builder ($200 million) and AssemblyAI’s speech recognition plug-ins ($300 million). Most of the other first-timers demonstrated early promise applying AI to real-world use cases. Take Abridge, which is developing AI medical scribes , a business worth $850 million so far; Sierra’s customer service chatbots, also reportedly worth close to $1 billion; or Notion, last valued at $10 billion, which sprinted to implement the latest advances in generative AI into its own productivity suite.

“In the years to come, just like in the ‘digital transformation’ where every company became a digital company, we see a future where every company becomes more of an AI company,” said Konstantine Buhler, a partner at Sequoia Capital who works with Forbes on the AI 50 as a data partner.

Taken together, this year’s AI 50 honorees demonstrate that as venture dollars flock into AI, the best companies are able to raise vast sums of money at a leaner scale and younger age than before.

Intelligent Unicorns

The highest valued companies on the 2024 ai 50.

While startups in other sectors like cryptocurrency and fintech are in the middle of trying to recover from a market pullback, AI is booming. Of the 47 companies on AI 50 which disclosed their valuation or had a known valuation through data provider PitchBook, two dozen are valued at $1 billion or more. The three most valuable companies — OpenAI ($86 billion), Databricks ($43 billion) and Anthropic ($18.4 billion, as Forbes reported ) — were all awarded a step up in price over the past 12 months.

The sky-high valuations of humanoid robot maker Figure AI ($2.6 billion) and AI data hub Hugging Face ($4.5 billion) further show that growth stage AI companies seem to have no trouble raising capital, despite the market drying up for other sectors. That comes in part because the top AI startups are attracting investment from beyond traditional later-stage venture funds. Jeff Bezos was among Figure’s new investors in March 2024, and Hugging Face raised from Amazon, Google, Nvidia and other industry bigwigs last August. Microsoft has backed model companies OpenAI and Mistral, while Amazon and Google have invested in Anthropic. In total, the companies on the 2024 AI 50 raised $34.7 billion, up from $27.2 billion on last year’s list.

AI 50 RETURNEE HEADCOUNTS, 2023 VS. 2024

But while AI 50’s early-stage newcomers are on average raising more money than before, they are also doing it with fewer employees. We’re not talking about layoffs: the most promising newcomers are achieving more with fewer workers. Despite every returnee from the 2023 list reporting an uptick in employees, the overall mean headcount decreased by 3% to 347 people from 357. The median decreased by 41% to 89 people from 150.

Even the AI 50’s largest companies by headcount are many times smaller — and more nimbler — than the incumbents. OpenAI, which is directly competing with Google , has less than 1% of the search behemoth’s employee base. “That’s a sterling example of how in the AI race you can actually win as a startup, even beat or challenge an incumbent,” Buhler said.

European Renaissance

Interactive: where the 2024 ai 50 is headquartered.

Among this year’s debut standouts is Mistral AI, a year-old startup which soared to a $2 billion valuation, per PitchBook, with its play to build a European rival to OpenAI. Named for a wind which blows from the French Alps into the Mediterranean that portends good weather, the Paris-based startups’ founders hail from AI research labs at Google and Meta. Mistral is just one of eight companies on the AI 50 that are headquartered in Europe, up from two in 2023, the first year that Forbes expanded eligibility for the AI 50 from North America to the rest of the world.

Europe’s top AI startups hail from across the continent. Mistral’s French compatriot Photoroom is developing an image editor; Dutch outfit Cradle is working on discovering complex proteins that could form the basis of future medicines; and London-based ElevenLabs has built a billion-dollar company out of its voice cloning software. And it’s no coincidence. Google-owned AI lab DeepMind is based in London and alumni from it and Google’s other operations on the continent are behind the establishment of startups like Cradle, ElevenLabs and Mistral. Aidan Gomez, cofounder and CEO of Cohere (valued at $3 billion, per PitchBook) and another former Googler, recently set up a second residence in London after first setting up a company office there in 2022.

Buhler told Forbes that Sequoia had conducted a study, unrelated to AI 50, which found that Europe’s per capita concentration of AI experts is 30% higher than the United States. Especially big hubs can be found in London, Paris and Zurich, he said: “The number of promising AI companies in Europe is on the rise.”

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