By Michael Kelman Portney

Abstract

The rapid advancement of artificial intelligence (AI) has opened up innovative approaches to business creation, enabling entrepreneurs to utilize AI tools for insights, strategy formulation, and tactical planning. One emerging approach to AI-assisted business creation is the “What Would You Do If You Were Me?” (WWYD) method, where individuals engage with AI in an iterative, question-driven process to gain strategic advice tailored to their unique goals, resources, and market context. This paper explores the potential of the WWYD approach in AI-assisted business development, examining its benefits, limitations, and applications. By treating the AI as a strategic advisor, entrepreneurs can tap into diverse perspectives, ideate more freely, and develop adaptable strategies with AI’s analytical support.

Introduction: The Concept of AI as a Business Advisor

AI is no longer simply a tool for processing data or automating routine tasks; it is increasingly being adopted as a co-creator in strategic business development. From brainstorming business ideas to evaluating market potential, AI’s analytical capabilities provide budding entrepreneurs with a wealth of insights previously limited to experienced consultants and advisors. The WWYD method leverages AI’s potential as a thought partner, positioning it to respond to an individual’s unique questions about business strategy and direction. This approach not only democratizes access to high-quality business insights but also enables entrepreneurs to explore strategies they may not have otherwise considered.

The WWYD approach operates as a continuous feedback loop, where the AI offers strategic suggestions in response to tailored questions, allowing the entrepreneur to refine and clarify their vision. This process creates a rich dialogue, enabling individuals to evaluate multiple business angles, market trends, and operational approaches based on AI-driven insights.

Benefits of the WWYD Method in AI-Assisted Business Creation

1. Personalized, Contextual Advice

One of the most compelling aspects of the WWYD approach is its ability to provide personalized, contextual advice. By asking AI questions like “What would you do if you were me?” entrepreneurs can receive insights that are tailored to their specific business context, resources, and market conditions. For instance, an entrepreneur with limited capital might use the WWYD method to explore low-cost entry strategies, while a tech-focused entrepreneur might seek suggestions on leveraging digital tools to create a competitive advantage.

• Scenario-Specific Guidance: Entrepreneurs can outline hypothetical scenarios—such as entering a competitive market or launching a new product category—and receive tailored advice, helping them simulate different paths before committing resources.

• Adapting to Constraints: AI can suggest pathways that accommodate the entrepreneur’s specific limitations, such as budget constraints or staffing concerns, making the advice actionable and grounded in reality.

2. Access to Analytical and Creative Thinking

AI can analyze vast amounts of data, providing insights into market trends, customer demographics, and competitor analysis. When combined with creative problem-solving capabilities, AI can suggest out-of-the-box approaches that entrepreneurs might not consider on their own.

• Trend Identification: The AI’s ability to quickly identify emerging trends and shifts in consumer behavior gives entrepreneurs an edge in exploring new market opportunities.

• Idea Generation: AI can offer suggestions for products, services, or business models, often drawing on successful strategies from other industries that could be adapted to the entrepreneur’s unique context.

3. Accelerated Decision-Making and Iterative Testing

The WWYD approach enables rapid prototyping and validation of ideas, with AI providing instant feedback and refinement suggestions. Entrepreneurs can explore a wide array of potential directions, quickly weeding out unfeasible options and iterating on promising ones.

• Hypothetical Testing: Entrepreneurs can ask the AI how it would approach specific challenges, such as scaling operations or handling customer complaints, allowing them to test potential solutions before implementing them.

• Agility in Strategy: The WWYD approach fosters an agile mindset, encouraging entrepreneurs to adjust their plans in response to new insights and market changes.

Limitations and Challenges of the WWYD Method

While the WWYD approach provides valuable insights, it also has limitations. Understanding these limitations helps entrepreneurs set realistic expectations and supplement AI guidance with human expertise where necessary.

1. Lack of Nuanced Human Understanding

AI’s responses are based on patterns within its data training but lack the nuanced judgment and intuition that experienced entrepreneurs bring. In complex, high-stakes decisions, AI’s suggestions may miss the subtle cues that a human advisor would notice, such as cultural sensitivities or ethical considerations.

• Risk of Oversimplification: AI may oversimplify responses, providing general advice that might not fully address complex business challenges or align with the entrepreneur’s values.

• Limitations in Contextual Awareness: AI lacks the personal experiences and intuition that can often influence human decision-making, limiting its ability to navigate ambiguous or highly contextualized business environments effectively.

2. Dependence on Quality of Inputs

The value of the WWYD approach depends on the clarity and relevance of the questions posed by the entrepreneur. Without clear, targeted questions, AI may generate generic advice that lacks actionable specificity.

• Question-Driven Output: Entrepreneurs must understand how to frame their questions to maximize relevance, a skill that may require time and practice.

• Possibility of Confirmation Bias: Entrepreneurs may unintentionally frame questions in ways that reinforce their existing biases, leading AI to provide advice that aligns with their initial assumptions rather than challenging them.

3. Ethical and Practical Limitations

AI can provide suggestions based on data but cannot factor in the ethical implications of certain decisions, such as environmental impact or social responsibility. Entrepreneurs relying solely on AI may overlook these important considerations.

• Ethical Blind Spots: AI may suggest strategies that prioritize efficiency or profitability without considering their ethical implications, requiring entrepreneurs to apply their judgment.

• Potential for Short-Term Thinking: AI’s recommendations may focus on immediate results, missing the long-term sustainability of business practices.

Applications of the WWYD Method in Various Business Stages

The WWYD approach can be applied at multiple stages of business creation, from initial ideation to scaling and refinement. Here’s how entrepreneurs can leverage AI at each stage.

A. Ideation and Concept Validation

In the early stages, entrepreneurs can ask AI questions about potential market opportunities, product viability, and target demographics. For example, an entrepreneur with an idea for a tech product could ask, “What would you do if you were launching this product in a competitive market?” AI can then provide insights on positioning, target audience, and feature prioritization.

• Identifying Gaps and Niches: By exploring different segments within a market, AI can help identify underserved niches or novel approaches.

• Validating Ideas: Entrepreneurs can gather data-driven perspectives from AI, helping them validate or refine their concepts based on current market demands.

B. Business Planning and Strategy Development

Once the business concept is refined, the WWYD approach can assist in creating a business plan and strategy. By asking AI how it would allocate resources, handle competition, or address operational challenges, entrepreneurs can obtain diverse viewpoints on building a sustainable strategy.

• Resource Allocation: Entrepreneurs can gain insights into optimizing budgets, staffing, and resource management.

• Competitive Positioning: AI can provide comparative analysis of competitors, helping entrepreneurs identify strategic differentiators and avoid overcrowded spaces.

C. Marketing and Customer Engagement

For marketing, the WWYD method can help entrepreneurs ask AI how it would approach brand messaging, digital advertising, or customer segmentation.

• Optimizing Campaigns: Entrepreneurs can receive advice on target demographics, engagement strategies, and the best channels for connecting with potential customers.

• Building Customer Loyalty: AI can offer insights into loyalty programs, customer experience, and ways to personalize marketing based on audience preferences.

D. Scaling and Growth

In the scaling phase, the WWYD approach allows entrepreneurs to explore growth strategies, whether expanding to new markets or diversifying product lines. For instance, an entrepreneur could ask, “If you were me, how would you approach expanding internationally?”

• Market Expansion: AI can identify new regions or demographics with growth potential, as well as potential challenges, regulatory considerations, and market readiness.

• Operational Efficiency: Entrepreneurs can explore ways to streamline processes, automate tasks, and improve efficiency through AI-driven insights.

Conclusion: A Balanced Approach to AI-Assisted Business Creation

The WWYD approach positions AI as a strategic advisor, providing entrepreneurs with insights that are context-specific, data-driven, and adaptable. While AI is invaluable for rapid analysis, creativity, and scenario-testing, the limitations of AI in complex or nuanced decision-making require a balanced approach. Combining AI guidance with human intuition, ethical judgment, and industry expertise enables entrepreneurs to leverage AI’s strengths without sacrificing the critical elements of creativity and personal insight.

By adopting the WWYD approach, entrepreneurs can expand their vision, explore novel ideas, and refine their strategies, building a business foundation that is both innovative and adaptable. As AI continues to advance, the WWYD approach may become an integral component of entrepreneurial strategy, offering new perspectives and possibilities for the next generation of business creators.