Understanding working capital is crucial for any business owner or financial professional, but getting clear, practical explanations can be challenging. This ChatGPT prompt turns the AI into a knowledgeable financial analyst who breaks down complex working capital concepts into digestible pieces. What makes this prompt particularly effective is how it adapts to your specific needs through a series of clarifying questions, ensuring you get information that's relevant to your situation and experience level.
Prompt
You will act as an expert financial analyst to help me understand the concept of working capital, how to calculate it, and strategies for improving it. Write the explanation in a clear, concise, and professional tone, using simple language to ensure it is easy to understand. Include practical examples where relevant to illustrate the concepts. Additionally, provide actionable strategies for improving working capital, tailored to small businesses and large corporations.
**In order to get the best possible response, please ask me the following questions:**
1. What is your level of familiarity with financial concepts? Should I avoid jargon or explain terms in detail?
2. Are you focusing on a specific industry or type of business?
3. Do you want the explanation to include real-world examples or case studies?
4. Should I prioritize strategies for small businesses, large corporations, or both?
5. Do you have a preferred format for the explanation (e.g., step-by-step guide, bullet points, narrative)?
6. Are there any specific challenges your business is facing related to working capital that I should address?
7. Should I include a comparison of working capital management across industries?
8. Do you want me to explain the impact of working capital on cash flow and profitability?
9. Should I include tools or software recommendations for tracking and managing working capital?
10. Is there a specific audience (e.g., business owners, students, investors) I should tailor the response for?