Artificial intelligence is not just another fad. It's a powerful tool that can greatly contribute to the growth of your business. In what ways? In terms of online presence, for starters.

• Getting AI to work for your business
• Tracking and analyzing trends
• Enhancing customer service
• Creating and optimizing content
• Automating processes
• Predicting behavior
• Improving search engine optimization
• Using artificial intelligence, intelligently

Getting AI to work for your business

Artificial intelligence is a hot topic in the tech world. It has also raised numerous environmental and ethical debates.

It is, however, increasingly present within all sorts of organizations. While many companies are reluctant to use AI as part of their business, there are many benefits to implementing it as part of a digital strategy.

When you think of ChatGPT, you may immediately reflect on its ability to create and edit text. All amazing writing capabilities aside, though, AI can help in many other areas. Let's take a closer look.

Tracking and analyzing trends

Did you know AI can monitor trends on the web, social networks, blog posts, and all this, in real-time?

By analyzing all this information, artificial intelligence can help you identify patterns and predict future events or trends based on past trends. This can help you make quicker, better-informed marketing decisions.

Google Cloud and its generative AI allow organizations to be on the lookout for trends and synthesize the information they are provided with in order to facilitate decision-making.

Enhancing customer service

Customer experience has become a crucial issue for companies, and artificial intelligence is one solution for meeting the needs of your online clients.

You've probably recently visited a site where a chat window opens and asks “how can we help you?”

This is what we call a chatbot.

Some chatbots are powered by AI and give businesses the ability to respond to customers 24/7. Indeed, chatbots are designed to respond to frequently asked questions; customers can then get answers at the click of a button, instead of waiting for a return call or spending hours online searching for a solution. HubSpot Chatbot Builder and Landbot are chatbot platforms that can help you automate various aspects of your customer service.

This is just one way of enhancing customer experience, but it may be worth considering implementing in your company.

Creating and optimizing content

Running out of inspiration? Is your creativity flagging? Once again, artificial intelligence could lend a helping hand. In fact, it offers innovative and efficient options for day-to-day content creation, thanks to a variety of creative tools.

How?

• Generating ideas: Not sure what to write about in your next blog post? Check in with ChatGPT for some inspiration!
• Writing texts: AI can automatically generate texts, captions, articles or summaries.
• Creating visuals: It's now possible to generate customized images using tools such as Canva AI or Adobe Express.

Here's an image generated by Canva AI. We asked the tool to create "a woman sitting in front of a computer, doing social networking, in a minimalist and bright decor."

Credit: Canva AI

Of course, the image isn't perfect (it’s got some pretty noticeable flaws), but let's face it: the result is pretty impressive!

Automating processes

Artificial intelligence offers tremendous opportunities for automating and optimizing certain business processes.

First of all, it can be used to automate boring, repetitive, and time-consuming tasks. This frees up employees to concentrate on activities that are cost-effective and add real value.

For example, AI can be implemented to manage email classification, track inventory or handle data collection. This not only increases productivity but also reduces errors and costs. The retail sector, notably, is making increasing use of AI.

The use of AI in process automation makes a company more efficient, profitable and competitive.

Predicting behavior

Have you ever wondered why you keep seeing car ads on Facebook after shopping for a windshield repair shop?

This is all made possible thanks to artificial intelligence. Indeed, based on past searches or interactions with a given company, certain data can be used to predict a user's future behavior. These computations are used especially by social networking platforms, for targeting audiences during advertising campaigns.

Using AI in a manufacturing or retail context will typically generate many recommendations. Amazon, for example, will suggest products similar to what you've already bought.

Improving search engine optimization

Do you create your website content and write your own blog posts? Would you like to improve your search engine optimization (SEO) so that your site and posts appear easily in search engines? AI can help!

Thanks to keyword analysis, you can easily lay the foundations of your text. You'll know which keywords are most relevant to your text at any given moment.

Moreover, several tools – SurferSEO or SEMrush for example – can be used to optimize articles such as title tags, metadata and images.

All in all, it is possible to analyze and optimize most content thanks to the recommendations submitted by artificial intelligence. And you will save time. 

Using artificial intelligence, intelligently

As you can see, there are many benefits to be had from AI. It’s got great potential for improving customer service and a company's online presence, as well as increasing sales and productivity. On top of it all, its creative aspect cannot be overlooked either: by generating various types of content, artificial intelligence can save lots of time.

By embracing artificial intelligence, companies can significantly accelerate their growth in an ever-changing digital and technological environment.

Of course, we mustn't forget to use AI safely, ethically, and transparently. As a reader and consumer of content on the web, you’ll need to be cautious and always reflect on what's at stake with AI. Don't hesitate to cross-check any information you find, to avoid misinformation. You should also be cautious about giving out personal information on any application or site.

Got a new business idea? Great! But how to get started?

The first step is to draw up a business plan. This blog post will show you how to accomplish the following: 

• Clarify each facet of your business: its mission, pricing, target audience, etc.
• Access financing from financial institutions
• Make financial forecasts and business decisions

Whether you're setting up a cookie factory or a laying hen farm, your business plan will be extremely useful, right from the start.

But how to write up a business plan? Let's take it step by step. 

• 1. Executive summary
• 2. Business description
• 3. Market analysis
• 4. Sales and marketing
• 5. Organizational structure
• 6. Development strategy
• 7. Financial plan
• 8. Appendices and attachments
• It's time to write!

1. Executive summary

This section should appear first in your business plan. It will also probably be the last one you write, after you've written all the other sections. It's basically a summary of the plan. Some investors will only read this section, as well as your financial plan. The summary must therefore be concise, but should still mount a convincing sales pitch. Otherwise, you're the one paying the price.

This summary should provide an overview of your company, of its vision and mission, of the products and services you offer, and a brief sales forecast.

2. Business description

The title kind of speaks for itself. This first official part of the business plan calls for a detailed description of your project. Discuss your mission, your business vision. Lay out the legal structure, your short-, medium- and long-term objectives. Also present the organizational structure, especially if you have several shareholders. 

3. Market analysis

Market analysis is essential for understanding your target audience and competitors, as well as market trends. 

Business sector

Start by conducting an in-depth study of your industry. Note industry trends and present interesting statistics. Don't just rely on statistics that are in your favor, but instead propose solutions to counter unfavorable statistics in your sector.

Competitors

An important step in any business plan is the competitive analysis. Select your four main competitors and produce a detailed competitive analysis. Compare your products or services, your customer base, your relative strengths and weaknesses, and so on. Try to position yourself by highlighting your company's competitive advantage(s).

Target audience

The first step in analyzing your target audience is determining your market segments. At this stage, it's not necessary to draw up a buyer persona, but if it helps you better visualize your clientele, you can do so.

What do you need to know about your target customers?

• Profile (corporate or individual)
• Geographical area
• Age
• Characteristics
• Needs
• Purchasing process and criteria
• If your customer is a business, its sector of activity and annual sales figures

4. Sales and marketing

Description of products and services offered

What do you offer your customers? Toothbrushes? Massage therapy? Online courses? Describe the specific features of each product or service, and how each one meets market needs. 

It's also a good time to develop your pricing strategy. How much is each product selling for? How did you arrive at this figure?

Marketing strategies

Now that you have your offer ready, you need to know how to market and sell it. At this stage of the plan, you'll need to be convincing in your promotional strategies. Investors will want to know that you're consistent and have a plan for reaching your target customers. And even if you don't need investors, this step will help you make the best decisions for the future.

We suggest that you draw up a marketing plan using an Excel spreadsheet, for example. This plan will outline your marketing activities and a specific monthly budget for each. This will give you a good idea of your marketing budget and the % of sales that will be allocated to marketing. 

This is also a good time to talk about your strategic partnerships. These can be compelling, especially if they're relevant to your goals and your industry. For example, do you already have a partnership with a service provider or a boutique ready to sell your product? Make a list of the companies you may already be working with.

5. Organizational structure

This is a fancy term for your company's layout. Even if it's not all set in stone, describe the following as best you can: 

• Each team member's roles
• The different operational processes
• The quality approach in place
• The layout plan, if you have a physical business

You can skip this step if you're only drafting the plan for yourself, and readjust it over time. Make the whole thing dynamic by inserting tables and drawn plans. 

6. Development strategy

Have you thought your development plan through? How will the company grow in the medium and long-term?

• Will you be targeting a new customer base?
• Will you look to expand outside Canada?
• Will you be developing training programs?
• Will you be recruiting?

Whether you're looking to expand geographically or simply add new products or services, this development strategy will give you a vision, as well as the concrete steps needed to make it a reality. 

7. Financial plan

One of the most dreaded sections of a business plan, but also one of the most important. Especially if you plan to present your plan to investors.

You'll need to highlight your financial projections over several years, along with a provisional budget. 

A thorough analysis of costs and revenues will give you a clear picture of your figures.

It's also the ideal place to talk about your various sources of financing: 

• Personal assets
• Love Money
• Credit cards 
• Line of credit
• Bank financing, etc.

Of course, you'll also need to produce a projected income statement. We suggest you enlist the help of a chartered accountant or business start-up expert to help you draw up a solid financial plan.

8. Appendices and attachments

To paint an even clearer picture of your situation and to lend additional credibility to your plan, you can attach several supporting documents: 

• Your curriculum vitae
• Your personal financial balance sheet; even if it's not stellar, transparency will be appreciated 
• A list of potential customers to whom you can offer your products or services
• Letters of recommendation from former employers, current customers, your financial advisor, etc.

Simply ask yourself whether the attachment can provide additional information for your investors or readers of your project.

It's time to write!

At first glance, writing a business plan may seem long, arduous and tedious. It kind of is! Fortunately, you don't have to write it alone. There are companies and organizations that specialize in this type of work. 

It's a big job, but so important for the future, especially if you want to obtain financing for your business. 

Even without financing, we still encourage you to write it, but perhaps in a truncated, less detailed way. About ten pages will be enough if the plan is just for you. But you never know what the future holds. Why not go ahead and write the whole thing up?

The Business Canvas Model is another very good alternative. The writing is much less dense, but fits on one page, giving you the entire structure of your business at a glance. 

And finally, here are some resources to help you develop and write your business plan:

• Business Development Bank of Canada
• STA program from Services Québec
• Futurpreneur Canada
• PME MTL