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How to Use ChatGPT to Generate and Compare Business Ideas

How to Use ChatGPT to Generate and Compare Business Ideas

Like a VC Would

Latestly AI
August 29, 2025

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Prompt Engineering: How to Use ChatGPT to Generate and Compare Business Ideas

👇 You’re here because:

You want to launch something on the side.
You’ve got too many ideas (or none).
You don’t want to waste 3 months building the wrong thing.

Good news: ChatGPT is the perfect “co-founder” for this early-stage problem. It’s fast, logical, and—unlike friends—it won’t just say “cool idea!” and walk away.

Step 1: Set Clear Filters

If you ask ChatGPT “give me 10 business ideas” — you'll get fluff.

Instead, use this focused prompt:

“Give me 5 business ideas that:
• require < $500 to start
• solve a real problem
• use automation or AI
• are not dropshipping
• can be tested in 30 days
• have clear monetization (subscription, course, tool, etc.)”

💡 Tip: Replace these with your constraints — maybe it’s “for B2B only,” or “must use WhatsApp,” or “must help creators.” Constraints = better output.

Step 2: Ask ChatGPT to Compare the Ideas

Once you have a list, prompt ChatGPT to score and compare them like this:

“Now put these 5 ideas into a table and score them 1–10 for:
• Market Size
• Monetization Potential
• AI Leverage
• Ease of Execution
• Personal Fit (for someone who’s a good writer and marketer)”

Example Output Table

Idea	Market Size	Monetization	AI Leverage	Ease of Exec	Personal Fit	Total
AI-powered podcast clipping tool	9	7	8	6	6	36
Local biz review summary	7	8	9	8	7	39
Shopify product copy with AI	9	9	8	9	9	44
Personal news briefings	6	5	10	7	9	37
AI property listing generator	8	9	7	6	6	36

Now you’ve got a front-runner. Ask ChatGPT:

“What are the biggest risks or weaknesses with this top idea?”

This prevents shiny-object syndrome before you spend a cent.

Step 3: Turn It Into a Lean MVP Plan

Once you pick your idea, ask:

“Create a lean MVP plan for this Shopify product description generator.
Include tools, steps, and timelines over 3 weeks. Budget = $500.”

Example tools ChatGPT might suggest:

Carrd / Typedream → quick site
Tally / Typeform → collect leads
Make / Zapier / Notion / Airtable → backend
ChatGPT / Claude / Gemini → content generation
Stripe → payments

Then prompt:

“Now write the first 5 tweets + 5 LinkedIn posts to promote it.”

Suddenly you’re not stuck in idea mode. You’ve got a real plan and content to launch it.

Bonus Prompt:

“Now act like a competitor. What product would you build to beat me in 6 months?”
This is gold. It reveals how to stay ahead.

Recap

ChatGPT is not just for writing tweets or meal plans. It’s a strategy co-pilot when you treat it like one.

Start with:

Clear filters
Comparison table
Objection testing
MVP roadmap
Content prompts

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What did you come up with using this prompt?
Send it to us — we’d love to feature the best ideas in the next edition.

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