Hey Prompt Entrepreneur,

We’re into 2024 now.

Past the first exciting week of NY resolutions and into the proper work.

This week I want to outline how I would start a business right now in 2024.

This is what’s working right now.

I’ll cover a high level approach over the week to give you an outline.

This is how I’m helping people (including my significant other!) start businesses right now. It’s a strong blueprint.

The basic idea here is:

• identify a market need that you can satisfy

• produce a high value free giveaway to confirm the market

• collect email addresses and nurture via a newsletter

• formulate and sell a service offer to your newsletter readers

• convert your learnings from serving clients to create your first digital product

This basic shape works across all niches and platforms and is built on first providing value, gaining trust, getting to know your customers and then and only then cementing your product.

Heads up that if this week’s emails are valuable I’ll be running a set of live accelerators over 6 weeks, deep diving and helping you action the lessons.

There’s a waitlist opening up here: Join the waitlist.

This week’s emails will be covering:

Part 1: Discover your profitable business niche

Part 2: Captivate the market with your lead magnet

Part 3: Effortless email list growth

Part 4: Deep dive into customer needs

Part 5: Save the world with your creations

First up we’ll lock down your profitable business niche.

Let’s get started:

Discover your profitable business niche

First up it’s worth mentioning that I’ve covered this topic multiple times before in other Prompt Playbooks.

Nevertheless this is the first vital step in launching a business - you need to have a clear business idea that:

• is based on your skills and abilities rather than desire

• is something you enjoy enough to work on sustainably

• has an existing market of buyers

Miss any one of these and your business is doomed.

I’ve written a prompt to guide you through this process and generate a handful of business ideas.

Act as a business coach 

I am starting a new business and need to refine ideas and my niche

First query me on: What are you skills and abilities? Include professional and personal, formal qualifications and informal skills. What do people come to you for assistance with? 

Based on the answers to these questions compile a list of at last 20 potential business niches.

Present the list in a table and ask me to provide, in preference order, my top 5. 

Take my top 5 business niches and run a market analysis - analyse the market sizing, competitiveness and capital requirements.

Based on this rank the business niches from most attractive to least attractive. 

Collect my top choice and give me 5 variants of that business, focused on different approaches, subniches, submarkets.

This prompt will run you through a process to help brainstorm business niches for you.

It’ll start by collecting up your skills, generate a long list of potentials, have you sort them by preference and then run a market analysis on each.

It’ll then finalise the process with a list of 5 variants. Here’s the final outcome for me:

By the end of this process the business niches generated should be non-generic.

The purpose of the prompt is to go through a multistep, multi-input process that ends in a sub-niche rather than a wide general niche.

Choose one that looks interesting to you. Don’t agonise this step because all ideas inevitably change once you launch anyway!

Premium Prompt - Personalised Market Research

Pulling it together

Sweet that’s the first big step out of the way.

We’ll keep it similarly high level this week - we want to build out the basic shape of a 2024 business rather than get stuck in the weeds.

With this week’s overview we’ll then be in an amazing place to launch a business in 2024.

Also I’m putting together a set of weekly live Accelerators covering these topics and helping you action the lessons. Waitlist is open.

A reminder of what we’ll be covering this week:

Part 1: Discover your profitable business niche

Part 2: Captivate the market with your lead magnet

Part 3: Effortless email list growth

Part 4: Deep dive into customer needs

Part 5: Save the world with your creations

Until then, keep PROMPTING!

Kyle

Follow me on X (Twitter).