So I coined a name for it, SabAI (Start a Business Artificial Intelligence)
This is going to be an App that will allow Budding Entrepreneurs or an ordinary person who have the zeal to start a Business to do so without much hassle, giving them an in-depth guide and insight into what they intend to start and how they should go about it.
Once you download the App, you will signup and will be taken to the Home screen where you can click the start a Business button to begin your Entrepreneurship Journey but before that, you will have to fund your Wallet on the App, you can Topup anything from $10 to any amount of your choice to begin, after funding, your funds will be there for spending while on the Journey,
NOTE: I decided to use an inbuilt Wallet System here because of my Experience with Google In-App Purchase strategy, another strategy you could deploy here is the Google In-App Purchase method but it has limitations in terms of Flexibility and part of your earnings will be taken by Google.
In the Home Screen you will see the START A BUSINESS button, after clicking the button, you will be taken on a tour to choose your Business category and niche, after doing so, it will show you how many Tours you have to go through and the estimated days it will take you to finish up.
As a zealous Entrepreneur, the App will take you through these phases of its SAB AI workflows:
PHASE 1: Business Idea, Niche and Industry Insight
Once you choose your niche, the SabAI App will first give you a breakdown and insight of the niche with the following:
- History of the niche, like how it started, the category it falls under, etc...
- The estimated Financial Market size of the Niche
- Top key players in the niche and their possible flaws, gaps and loopholes
- All Apps on the play and iTunes store on that Niche and a bit background about them
- The state of the niche, if the niche is growing or diminishing
- Investors that have previously invested in the niche or prefers investing in such niche (Through Angel.co, etc).
- Market size of the niche in terms of Target market, like the estimated number of consumers in that niche
- Laws, License, Permits and Policies in this niches with sources to get them and their cost
- Case studies of people who started and how they went about it
- Business who started and failed in that niche and possible reasons why they failed
- The average estimated cost to start a Business in that niche.
- And lastly, all News articles, sources, contents and blogs that talks or focuses on that niche
For giving you access to this Wealth of Information on the first tour, the App will charge $1 from your Wallet
NOTE: This App does not expect you to go through the Tour in just a day, it is something you can go through in weeks or Month before starting your Business.
When you are done with this tour which entails a lot of reading, streaming of Videos and clicking of links to learn more be it in a day, two or more, depending on the time you dedicate to it, the App will tell greet you and tell you to proceed to the next phase, you can decide to pause by staying there and not clicking the proceed button then take a day to digest and relax.
When you click on the next tour button, it takes you to the second phase which is
PHASE 2: Skills Acquisition and Training
At this point, the App will tell you all the skills that you will possibly need to be able to at least start something in that niche, giving you close and related skill-sets with sources to acquire them ranging from FREE sources to paid ones
The SabAI App will categorize this section in three parts, Novice, Intermediate and Expert.
Novice: At this level it tells you the things you should know about and the soft skills you should acquire.
it will list skills you need to become a Novice and at least start the Business while partially depending on other skillful personnel that you will pay (Outsource) to assist you, but since you have a background knowledge on the subject matter, you will be able to guide them to do things the way you want, based on your Blueprint but at the same time not neglecting their professional advice.
Intermediate: At this stage, the SabAI App tells you that if you can acquire skills to this point, you will be better off and will cut down almost 50% of the cost you would have invested in Outsourcing since you will be able to handle certain task by yourself
Believe you me when starting a Business, you will always do most things on your own, most especially if you don't have access to much funds and you resorted to Bootstrapping in the initial stage
...as a matter of fact I always advice budding Entrepreneurs to Bootstrap in their early days instead of raising funds that will blind them and allow the Business sink.
Expert: At the expert level, the SabAI App says, if you can acquire all the skills require, that you might have been so much ready to execute your task and take your Business to the Market without depending on outsourcing way too much, it means that you will cut off outsourcing cost to almost 90%, spending only about 6 - 10% on outsourcing.
SabAI will also advice you that for the sake of time and proofing your Business concept, if you don't know anything, you should go Novice and then start your Business and then learn along the line while gathering experience from the day to day running of your Business.
The SabAI App might decide to charge you in this phase if it believes that it has Premium contents or resources that will benefit you, like offering you one of the training that you need to be equipped among other skills it talked about, if it sees no reason, it will not charge you a dime
NOTE: The SabAI App will still make Money from other training resources that it will refer you to, if you click those links to go and acquire those skill on platforms like Udemy, Coursera or Investopedia, through Affiliation, SabAI will be given Affiliate commissions.
SabAI might even partner with those course instructors directly to make a modified / advanced or part of their content available on the App exclusively and they split the Revenue with the Instructor.
PHASE 3: Costing and Financial Implications
So the SabAI App knows that after you have been skilled and grounded, you will need some Funds in one way or the other to be able to start the Business, so it will take you into a costing session where it ask you questions like;
- How much does it cost to register a Business in your Country / territory?
- Does this Business require License, Permits or Insurance before it can Operate, If yes, How much?
- How Many Staffs will you need and how much will it cost to hire each multiplied by all of them?
- How much does Internet Connectivity cost per month, multiplied by the duration of your choice?
- Do you have assets already, like Laptops, Gadgets, Workstations etc, if NO, What's the cost?
- Would you need an Office space, if Yes, how much does it cost to rent an Office apartment?
- Would you buy and stock Inventory, if yes, how much would you need?
With all these costing questions, related to your Business niche, the App will be able to compute and tell you the Estimated Funds that you will need to start and run that Business smoothly
The SabAI App will compute the algorithm on excel and them mail you the breakdown in a neat and presentable excel document where you can edit and update at will
PHASE 4: Pitching and Business Plan
On this phase, the SabAI App will give you an intro on pitching and Business plan, telling you what a pitch deck should look like and contain
While on the Business plan part, it will also tell you what a typical Business plan should be and give you a strong heads-up and background know how on writing a professional Business plan
After this, SabAI will ask you some questions about your Business and then generate a partial custom Business plan from your Business Niche Template and email it to you
It will also email you a sample Pitch Deck after asking you relevant questions like
- The Problem your Business is trying to solve
- The Solution and why you think it is indeed a Solution
- The Vision and Value Proposition: A quick one sentence that describes your Business
- Your Target Market and Opportunity
- The Business Revenue Model
- Traction and Proof of Concept: Here you state what you have achieved so far
- Sales, Marketing and Promotion Strategy
- Your Team and their Background
- The ROI on Investment that any potential Investment will get + the Sales Forecast
- Possible Competition and Competitors that you have been able to spot out
- The amount that you are requesting for and how you intend to use it
After you might have provided the SabAI App all this Questions, after a while you will receive a detailed editable pitch deck in a PDF and Word Format for further customization and easy editing
PHASE 5: Fund Raising, Crowdfunding and Investment
SabAI knows that one of the biggest questions budding Entrepreneurs ask is "How do I raise Funding fro my Business" and this has also been one of the biggest challenges among others for Startups
So to make sure you are able to raise some seed funding from Angel Investors and then you are able to land your first Series A funding from Venture Capitalist with a deep understanding of how Investment works.
The SabAI App will suggest another crash course on Investment, Shares and running a Limited Liability Company
It will tell you about the different kinds of Business, a Sole Proprietorship and a Limited Liability company,
- What a C Corporation is, an LLC and a Joint Business is?
- What a Franchise is and an Acquisition?
- What is a Board of Directors and how to form one?
- What are Investors and their Role in a Company?
- What is Q1, Q2, Q3 and Q4 in every fiscal Business year?
- What is Dividend and how and when dividend are to be declared?
- Who a Board Chairman is and how a Board Chairman is elected?
- What is a CEO, CFO, CTO, COO, CMO, and other C Level Executives in a Company?
- When to raise investment and what is Traction and Proof of Concept?
- What is Bootstrapping and how to bootstrap a Startup to Traction?
- What are the common reason that makes a Startup to fail and how to avoid them?
- What is Vesting and Cliff and the duration a share takes to Vest and Cliff?
- When to say No to an Investor and the different types of Investors?
- What are Corporate governance and ethics in the Business Environment ?
- And lots more...
PHASE 6: Development, Debugging and Testing
At this stage, the SabAI App will then ask you what and what your App will do an how it will function from stage to stage with detailed questions
Then it will use your answers to automate your App Documentation to use for your Project Development
The SabAI App will recommend Platforms like Freelancer, Upwork and Workbook where you can get developers if you are outsourcing your Development, it will also recommend professional and proficient Developers, here it makes Money again
If you are developing by yourself, it will advise you with Best practices and common trends and tips to follow while Developing your App
After Development, it will guide you on Testing, BETA version release and debugging
It will provide you with detailed resources and articles on getting your App on the Play or iTunes store and the right words to use for your description and summaries
PHASE 7: Operations and Maintenance
On this phase, the SabAI App begins to tell you about the role of the Chief Operation Officer, who he or she reports to with a full template of a COO Job Description
The App will walk you through some operational Mechanisms, Tips and Strategies to adhere to for a smooth and optimum performance in running your Company's Operations
It is one thing to win in a Client and it is another thing to be able to maintain them and continually serve them and earn in exchange
It will talk about other sub roles under this Department such as the Customer Service personnel and point you to sources you can hire a COO and what to expect from anyone
PHASE 8: Launching, Marketing and Promotion
The work of the SabAI App on your Phone is not just to tell you how to run a Business but to give you in-depth knowledge of running a Business, give you a background knowledge of your Industry, give you access to Training materials and access to resource that you will need and ultimately recommend you to Clients, Investors and potential Partners
So at this point the SabAI app will help you to craft a good Marketing Plan after choosing your Business Model...
Remember Marketing is not a fit it all thing for every Business like I noted in one of the previous post on Marketing, (How to promote your Network Marketing Business), different Business have what works for them in terms of Marketing and you have to identify what will work for your own Business or else you will we wasting time and resources when indulging in certain marketing strategy that does not fit your kind of Business.
To achieve that you will have to follow through the SabAI Marketing plan workflows, the App will achieve that by asking you questions like;
- Who are your Target Market?
- Are they Offline or Online?
- What Platform can you reach out to them Online?
- Can you easily reach out to them on Facebook?
- Can you easily reach out to them on Instagram?
- Can you easily reach out to them on Twitter?
- Can you easily reach out to them on Pinterest?
- Can you easily reach out to them on Pocket?
- Can you easily reach out to them on StumbleUpon?
- Can you easily reach out to them on Reddit?
- Can you easily reach out to them on Google Plus?
- Can you easily reach out to them on SnapChat ?
- Can you easily reach out to them on LinkedIn
- Can you easily reach out to them on YouTube?
- Can you easily reach out to them on Business Directories?
- Can you easily reach out to them through Email Marketing?
- Can you easily reach out to them through Webinars?
- Can you easily reach out to them through Google Search?
- Where can you meet them Offline?
- Are they in the Market?
- Are they in Shopping Malls?
- Are they at Events like Wedding?
- Are they at the Airport?
- Are they in the Hospital?
- Are they in the Prison?
- Are they in the Court?
- Are they in Schools?
- What medium do you think you can use to reach out to them Offline?
- Will Flyer Marketing work?
- Will a Seminar work?
- Will Radio Marketing work?
- Will Telemarketing work?
- Will a one on one Marketing from door to door work?
- Will Bulk SMS Marketing Work?
- Will Network Marketingwork
- Will Multi Level Marketing work?
After you might have provided SabAI App with all these information, it will generate a detailed Marketing Plan with diverse campaign strategies to deploy like;
How to run a Successful Facebook Campaign?
What time to run your Facebook Ads campaign to reach out to people?
How and When to run a low Budget Google Ads Campaign?
What Marketing Strategy to deploy first?
NOTE: The SabAI App is always and constantly updated to have the most recent templates, documents, articles, Materials, resources, Tips and Strategy. For people that have successfully gone through the SabAI and to the stage they have launched their Business, they will be receiving premium contents of Case studies on how people around the world made a great Business stride and how they did it.
SabAI Team will gather this Information from Successful Entrepreneurs and them provide them to their Budding Entrepreneurs as a Premium Content that cannot be found anywhere else, because they approach this Successful Entrepreneurs and buy these contents from them, customize it and make it available on the SabAI App for users who have successfully gone through the Start a Business AI Workflows.
PHASE 9: Revenue, Profits and ROI (Return on Investment)
This is where one of the most vital of all Business vitals lays, where the Money spins and what makes Investors excited, so it is advisable that you think through it thoroughly and conduct several A / B Testing to know what suites your Business best.
There are different kinds of Revenue Models or medium of Monetizations and in some case you can combine more than one methods while in other cases, you will only be able to harness or use one of them.
SabAI will tell you that Revenue Model is basically a framework or architecture for generating Revenue in a Business, identifying the Source to include, the worth to offer in exchange, the appropriate costing and the categories of people who pays for it.
On some websites or App, there are always more than one paying category of people, some people offer few value for a little amount of Money and then another for a bit higher amount and so on and so forth...
Depending on the nature of Business you operate, you can harness these Revenue Models;
- Free Revenue Model
- Freemium Revenue Model
- Premium Revenue Model:
- Arbitrage Revenue Model
- Commission Revenue Model
- Subscription Revenue Model
- Donation Revenue Model
- Advertising Revenue Model
- Licensing Revenue Model
- Markup Revenue Model
- Rent / Lease Revenue Model
- Interest Revenue Model
- Fee For Service Revenue Model
- Hidden Charges Revenue Model
I will write more on Revenue Models on this post, (What is Revenue Model, 14 Revenue Models to choose from), so keep an eye on it or Subscribe to get notified once it has been posted.
PHASE 10: Investment, Re-Investment, Series A or Exit
At this point, the SabAI will begin to congratulate you for getting this far, it will tell you to get a bottle of Wine, Beer or Soft drink, whichever you prefer and chill down to finish up.
This is the Investment, Re-Investment and Exit stage
SabAI will begin to orient you as usual, telling you about Investing, why people Invest, the different types of Investors and the type of Business and at what stage they Invest
It will talk about Angel Investors and give you Example of Angel Investors
It will talk about Venture Capitalist and give you examples of Venture Capitalist
It will tell you the right time to approach each one of them and what to expect, it will teach you the art of Negotiation and how to me greedy with Shares
Then lastly it will tell you where to get Investors with detailed approach on each platforms.
- Kick Starter
- Startup Explorer
- Funding Universe
- Angel Soft.net
- Crowd Cube
- Trever iMarket
If a Startup is bright and is doing Fine and requires Investment, SabAI will automatically mail people all over the world suggesting that they Invest on your Business, once the Investor clicks to open and view more details about your Startup, SabAI will notify you that someone is interested in your Startup and would love to share your Financials and Insights to the Investor, if you accept the request, the Investor will be mailed all the necessary details, that way it connects you to Investors too.
PHASE 10: Final Assessment (Quiz)
After you are done with all the works, SabAI will give you an Interactive Quiz session that will take you through 1,000 Business and Startup Questions, when you are done answering them, you will be shown your Scores.
A Track list will be created for your Business and you will use it to start your Business Journey
Each milestone you hit, you record it on the App
At some Point SabAI will give you a challenge like, if your Clients are 100, SabAI will compel you to raise it to 125 and acquire a Badge
Interactively, SabAI will engage you to better your Business with task and missions to Accomplish and the brightest of all will get a reward of Investments...