Identify New Business Opportunities

What this prompt does

• Generates a detailed innovation strategy using Google's 8 principles.
• Prioritizes ideas based on impact and feasibility scores.
• Creates an actionable plan for each top opportunity.

When to use

• Use when a business can describe its current constraints, offer, and customers and needs adjacent opportunities ranked.

When not to use

• Do not use this when the required context is unavailable or when an accountable owner cannot review the assumptions and resulting new business opportunities.

Input checklist

• MY CURRENT SITUATION AND CHALLENGES
• MY BUSINESS
• MY TARGET CUSTOMERS

Example input

## Information about me

- My current situation and challenges: Private coaching is at capacity, lead flow is inconsistent, and delivery knowledge lives in the founder's head
- My business: A boutique career-transition coaching practice offering private and cohort programs
- My target customers: U.S. corporate professionals ages 35–50 who earn at least $100,000 and are validating a first business

Expected output structure

• Eight principle-based opportunity sections plus a scored table of the top three opportunities by impact and feasibility.

Customize this prompt

• Fill in the “context”, “your business”, and “your target customers” placeholders with specific details about your current business challenges, the nature of your business, and the characteristics of your target customers.
• Example: For “context”, you might write "Facing increased competition and market saturation"; for “your business”, "We are a tech startup focusing on AI-driven solutions"; for “your target customers”, "Tech-savvy millennials looking for automation tools."
• Use the structured response guidelines to methodically apply each of Google's 8 principles of innovation. This involves brainstorming specific ideas, providing examples, and developing an action plan for each principle, ensuring that each idea is evaluated for impact and feasibility.
• Emphasize creativity and practicality in your brainstorming sessions. Push the boundaries of conventional thinking as suggested, but also keep the ideas actionable and grounded in the realities of your business environment. Use the emojis effectively to make the key points stand out and to visually categorize the ideas and opportunities.
• Map Out the Innovation Landscape: Create a visual map or chart that categorizes your current projects, initiatives, and ideas according to Google's 8 principles. This will help you see where you're already active and where there are gaps to fill.
• Set Up Innovation Labs: Dedicate spaces or times where your team can freely explore and experiment with new ideas without the pressure of immediate results. This encourages embracing experimentation and taking smart risks.
• Develop a Feedback Loop: Implement a system where insights and learnings from applying these principles are regularly collected and reviewed. This helps in refining approaches and sharing knowledge across the organization. Identify Customer Pain Points: Conduct surveys, interviews, and feedback sessions to understand your customers' pain points and areas for improvement. This will help you reframe your mission and prioritize ideas that address these pain points.
• Collaborate with External Partners: Seek partnerships with other businesses, organizations, or individuals who can bring diverse inspiration and fresh perspectives to your innovation process. This can lead to new opportunities and unique ideas.
• Encourage Cross-Functional Collaboration: Create opportunities for employees from different departments or teams to collaborate and share knowledge. This can spark creativity, foster innovation, and lead to breakthrough ideas.

Guardrails

• Use only supplied evidence or clearly labeled assumptions; do not invent customer facts, research findings, citations, or implementation results.
• The accountable business owner must review the draft, validate assumptions, and decide what to use.