Perplexity Startup Validation, Market Sizing and Competition Prompt
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Run this prompt in perplexity to validate startup ideas, get sense of investment needed, market size, and competition. Run it in labs mode so it does deep research.
Act as a senior market research consultant. I want to analyze the viability of launching a startup in [YOUR LOCATION/COUNTRY OR REGION]. The idea: [BRIEF DESCRIPTION]. Please create a detailed, slide-ready report including: 1. **Market Demand & Local Trends:** Are there signs of demand for this idea in [LOCATION]? Include trends, pain points, and relevant statistics. 2. **Target Audience:** Who are the best-fit customers locally? Demographics, psychographics, and top use cases. 3. **Market Size:** Estimate local TAM, SAM, SOM, and realistic 3-year share. 4. **Startup Costs:** Provide a detailed estimate of initial startup costs to launch this business in [LOCATION], broken down by category (e.g., incorporation, product development, technology, marketing, staffing, legal, office, insurance, regulatory, inventory, etc.). List any ongoing monthly operational costs and note which are fixed vs. variable. Include industry benchmarks and cite sources where possible. 5. **Competitive Landscape:** Key competitors in [LOCATION] (plus globally, if relevant), their strengths/weaknesses, what we like/dislike about them, and how we can differentiate. 6. **Competitive Edge:** What would be my unique value proposition? How can I improve on competitor offerings? 7. **Monetization & Pricing:** Best-fit revenue models and price points for this audience and region. 8. **Risks & Barriers:** Major risks, regulatory hurdles, market-entry barriers, and adoption challenges. 9. **Go/No-Go Summary:** Based on the evidence (including startup costs), is this idea worth pursuing in [LOCATION]? What are the recommended validation and next steps? Structure each section for clarity and use bullet points for easy presentation. Note any assumptions or if some data is only an estimate.
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Use this prompt to get ChatGPT to do market research, sizing and comp intel then create slides and a one pager for you. Consider adding any other research info you need and force ChatGPT to think deeply or think hard to get best results. Run on paid version of ChatGPT with Thinking
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