Welcome to this edition of our Tools for Thought series, where we interview founders on a mission to help us think better and work smarter. Dawson Whitfield is the founder of Venturekit, an AI-based strategic partner that helps founders explore potential paths forward and make better decisions.
In this interview, we talked about how AI can help navigate uncertainty, leveraging data for strategic planning, finding business insights using technology, how data can empower entrepreneurs, and much more. Enjoy the read!
Hi Dawson, thanks for agreeing to this interview! When did you become interested in the intersection of business and AI?
Thanks for having me. My interest in the intersection of business and AI began a few years back when I realized just how overwhelming the business planning process could be. The traditional methods of drafting business plans are outdated, tedious, and in desperate need of innovation.
Around the same time, AI was starting to make waves in various industries, and I thought: Why not apply this technology to simplify business planning? The potential to harness AI for not just automating tasks but truly augmenting human creativity and strategic thinking was what really piqued my interest.
So that’s why you started building Venturekit.
Exactly. Venturekit was born out of a desire to empower entrepreneurs, regardless of their background or experience level. I wanted to create a tool that could make business planning fun, accessible and straightforward for anyone with an idea.
The vision was to leverage AI not just as a gimmick but as a core component that could provide real value by guiding entrepreneurs through every stage of their journey.
What do you think are some of the benefits of AI in business planning?
When people are starting a new business, their ideas usually exist as a cloud in their head—without much shape or certainty. AI helps turn that cloud into certainty. Whether that’s deciding on a business model, product offering, marketing strategy, or even understanding the risks and challenges that you’ll need to overcome.
AI can process vast amounts of data in seconds, something that would take humans hours or even days. This means entrepreneurs can get quick answers to complex questions, allowing them to make informed decisions faster.
Another benefit is creativity enhancement. With AI handling the nitty-gritty technical aspects, entrepreneurs can focus on the big picture—their vision, their goals, and the creative elements of their business. It’s like having an extra brain that’s constantly working in the background, freeing you up to do what you do best.
But there’s an important human element in business.
Absolutely. One of the misconceptions about AI is that it’s going to replace the human element, but I see it as more of a collaboration. Venturekit, for instance, is designed to enhance the human element by personalizing business plans to reflect each entrepreneur’s unique vision and goals. AI provides the structure and the data, but it’s the entrepreneur who breathes life into the plan.
The key is finding that balance where AI handles the heavy lifting, and the human touch ensures that the plan is authentic, personal, and true to the creator’s intentions. Creating a collaborative user experience is something we’re working hard on.
So, how does it work exactly?
The process is pretty straightforward, which was a big priority for us. When a user comes to Venturekit, they start by answering a few questions about their business—things like their industry, location, and what makes their idea unique. From there, our AI generates a comprehensive business plan tailored to their specific needs.
Within 30 seconds or so, they get a comprehensive business plan with market research, financial projections, etc. They can continue to edit and refine their business plan with AI by their side. Lastly, they can export their plan as a PDF with a beautiful theme.
Users can also chat with the AI to ask any questions they have about their business, whether it’s about financial projections, market research, or even brainstorming new ideas. The platform is designed to be an all-in-one toolkit that adapts to the entrepreneur’s needs as they evolve.
Going from business plan to actual execution can be challenging. How does Venturekit help with that?
Totally. A plan is only as good as its execution. Venturekit doesn’t just leave you with a plan; it provides you with actionable insights and resources to bring that plan to life. For example, the platform offers hundreds of marketing ideas, different business models, and potential target audiences based on your specific business.
It’s like having a roadmap that not only shows you where to go but also gives you the tools to navigate the journey. This helps entrepreneurs make better decisions and gives them a clear path forward, reducing the uncertainty that often comes with starting a new venture.
Another concern entrepreneurs may have is how secure it is to provide all of this information to a third-party service.
Security is a top priority for us. We understand that users are entrusting us with sensitive business information, and we take that responsibility very seriously. Venturekit uses encryption to ensure that all data is securely stored and transmitted.
Additionally, we have strict privacy policies in place to protect our users’ information. We want entrepreneurs to feel confident that their data is safe with us, so they can focus on building their business without worrying about security risks.
What kind of entrepreneurs use Venturekit?
We see a wide range of users, from seasoned startup founders and bootstrappers to students working on side projects. The common thread is that they’re all looking for a tool that can streamline the business planning process and give them an edge.
We’ve had success stories ranging from tech startups that used Venturekit to secure their first round of funding to solo entrepreneurs who were able to turn their passion projects into profitable businesses. We also have a huge amount of traditional businesses using our platform—think bakeries, hair salons, landscaping companies, etc.
What about you, how do you use Venturekit?
It helped a lot in the early days to explore business models, financial projections, operating risks, and marketing ideas. I still remember the first time I used Venturekit to come up with marketing ideas for Venturekit—it was a wild experience.
And finally… What’s next for Venturekit?
We’ve got some exciting things on the horizon. Our next frontier is making the business planning process more collaborative with AI. We’re also working to become a platform that people come back to often for ongoing strategic planning.
Thank you so much for your time, Dawson! Where can people learn more about Venturekit?
Check us out at our website.