(Market) size is everything

PLUS: simulate a VC roasting your idea

Hey there,

Today, let’s talk about:

  • A couple of AI tools that lets you use plain English to query your database (no need to learn SQL)

  • the best ChatGPT prompts for sizing a market

  • integrating AI into your app without code

  • and lots more 👇

But first… a cheeky little promo: 

Hot on the heels of The Product Manager’s Prompt Book, I’ve recently released The Innovator’s Prompt Book.

Building on my day-job knowledge as a venture builder, it’s like an AI-powered business design kit. Packed with product discovery use cases and examples, using ChatGPT, Bing and Midjourney,

💬 PROMPT OF THE DAY - MARKET SIZING

Assume you're the CEO of a start-up working on a SaaS platform for the food industry to reduce its carbon footprint, by enabling food producers to track the environmental impact of their products. You're specifically targeting your offering toward food companies headquartered in the UK and Europe. For a presentation, you need to size the market, and you want numbers for TAM (Total Addressable Market), SAM (Serviceable Available Market) and SOM (Serviceable Obtainable Market). Please share some initial ideas on how you'd go about estimating TAM, SAM and SOM, including some potential sources for data.”

ChatGPT Output:

Bing Output:

I think ChatGPT performed best here, but given that Bing has live internet access, and is also great for source attribution which would be handy for the deck, I was able to follow-up and try to get it to actually research the estimates for me based on current data (which gives it an edge in this use case over ChatGPT’s 2021 cut-off).

So I asked Bing, “Could you go ahead and estimate the TAM, SAM and SOM for this company?” It still pushed back saying it needed more info, so I followed up with this:

“Based on the information I've given, please try to estimate the TAM, SAM and SOM for a start-up working on a SaaS platform for the food industry to reduce its carbon footprint, by enabling food producers based in the UK and Europe to track the environmental impact of their products. Ballpark estimates are fine too.” Bingo! (sorry)

🛠️ COOL NEW TOOLS

Available now

Figcopy - Design
No more Lorem Ipsum. Generate real copy for your designs in Figma. Link.

Get on the waitlist

Magick - App Development
Supercharge your app with no-code AI tools. Cutting-edge AI tools at your fingertips. This hasn’t launched yet, so to get a preview, here’s a tutorial from the founders on making your own personal ChatGPT agent. Link.

Channel - Data Analysis
Ask any data question, in plain English. Connect your SQL database, ask a question, get an answer. Channel automatically generates beautiful visualisations for your data, and picks the right chart type based on your preferences. Link.

Definite - Data Analysis
Connect to your warehouse and get the analytics work you need automatically generated for you with AI. It's like Figma was built for analytics and deeply understood your data warehouse. Link.

🤖 NOW WITH ADDED AI

Coda - has just launched their Open AI integration. Link. This opens up a whole new set of capabilities for Coda fans. We’ll do a deep dive on this in a future post, but in the meantime here’s a great use case for PMs to try out - using it to categorise customer feedback.

🤪 DROP #1 - ROAST MY STARTUP IDEA

“Drop” - a periodic, time-limited release of homemade AI stuff.

Sometimes us Ideas People need to take a big dose of reality, put our own subconscious biases to one side and really have our idea interrogated. True, you could just go to a VC for that 😜 but wouldn’t it be better to stress-test your concept before-hand? And even get some thoughts on how you could improve the idea?

Roast My Startup Idea gives you just that, instantly and for free. Built with Open AI and Zapier, and some careful design and fine-tuning of prompts. It’s our first Drop, enjoy!

👀 Look out for Sunday’s AI Roadmap

Each week, in addition to the weekday newsletter like this one, I’ll put myself in the shoes of a product team, ideate the generative AI opportunities and prioritise what I think would add the most value to the customers. Should be fun right? And if you’d like to nominate a product for an AI Roadmap, hit reply and let me know!

Thanks for reading, and happy prompting 💬

Martin, Chief Prompt Officer

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