AI Can Change Your Freakin Life 📈💰

Happy Sunday profit seekers :)

I’ve been dipping my toes these past few days with AI and I’ve had some major revelations. Today’s main segment will be geared around AI and how ChatGPT literally killed off thousands of companies in a day :/

Don’t worry though…it’s not all bad news though. We’ve got some banger segments that I’m sure you’ll love (including some ChatGPT prompts that have been a blessing)

Alright let’s begin our passage…

Here’s the teleology for today:

• OpenAI Just Annihilated A Couple Thousand Companies..Here’s What You Should Know: No Code GPT’s are changing the game…did I say NO CODE?! They’re also coming out with the “GPT store”. Read below to find out…

• Freebie: Get access to a chatGPT prompt we’ve been using tools we’ve been using to craft some awesome organic content video scripts.

• Side Hustle Of The Week: This side hustle might just trump all the others!

• The Tube : We’ll be sharing some banger youtube videos to grow your brain…literally!

• Big Lesson Of The Week: A new segment we’ve curated to sum up one big domino idea that you need to implement in your life and business ASAP.

  
  Read Time: 4 Min 38 seconds

THE PITH
OpenAI Just Annihilated A Couple Thousand Companies…Here’s What You Should Know:

In the past week, OpenAI (the company behind chatGPT) released Open GPT’s to the world.

What does this mean? Well for one…a whole ton of companies just got wiped off the map…but it’s not all bad news. Read below to find out.

Just a year back, OpenAI blew our minds with ChatGPT, a chatbot that's basically the Swiss Army knife of AI. This was so popular and useful (of course), many savvy entrepreneurs decided to use openAI to build their own software companies with the integration.

These companies soared and some of them even built and exited in that time frame for a lot of money. A lot of these companies actually were quite big on tiktok because most of the marketing used in the space was from UGC ads. We actually linked a few of these companies in last weeks segment :)

On DevDay in San Francisco, OpenAI mentioned that they’re upping their game (even further) with custom ChatGPTs. What does this mean?

Picture this: AI bots tailored to your needs, and no coding experience needed. These custom chatGPT’s, dubbed “GPTs” by OpenAI, are hitting the GPT Store. That being said, when GPT Store launches, only agents from verified users will make the cut. This means that not everyone will be allowed ☹️…You can however share GPTs via web links at first.

The deets on the store's look and functionality are still under wraps but think of it as an app store for GPT’s. OpenAI plans to pay GPT creators based on how much your GPT is used.

Instead of using these companies that had done the same prior, you can now go directly through chatGPT’s app store. With OpenAI’s interface, the GPT creator is the puppet master. You decide how your GPT interacts with the world. Each GPT can tap into web browsing, DALL-E, and OpenAI’s coding tool.

A side note: GPT creators won’t have access to individual chats, and the extent of the data they'll see is still up in the air. OpenAI’s keeping an eye out for no-nos like fraud and hate speech.

The big picture? OpenAI sees this as a leap towards their ultimate dream: an AI superintelligence, AGI.

And for us, the users? It's a chance to be part of this exciting journey.

PS. These changes are killing it for OpenAI’s revenues as they aim for a mind-blowing $90 billion valuation.

SIDE HUSTLE OF THE WEEK
CustomGPT Builder 💻

This week’s side hustle is about diving into the world of AI by building custom GPT (Generative Pre-trained Transformer) models and selling them on the GPT store. If you have a knack for AI and programming, and you're excited about creating innovative, tailored AI solutions, this could be a highly rewarding venture for you.

Pros:

• High Demand for Tailored AI Solutions: As AI becomes more integrated into various industries, the demand for customized GPT models specific to different business needs is skyrocketing. This presents a significant market opportunity.

• There’s Money To Be Made…Alot: Custom GPT models, especially those tailored for niche markets or specialized applications, can command high prices. Your earning potential could grow exponentially with the right clients and innovative solutions. Aside from selling on just the GPT store, you can even sell it high ticket over the phone. C

• Creative and Technical Growth: This side hustle allows you to constantly challenge your AI knowledge and creativity. You'll be at the forefront of AI development, which can be both intellectually stimulating and professionally rewarding. AI will make billionaires and staying in the know is a great way to be ahead of the rest.

Cons:

• Technical Expertise Required: Building custom GPT models requires a solid understanding of machine learning, natural language processing, and AI in general. This could be a steep learning curve for those new to the field. That being said, an AI binge on Youtube for a few weeks will definitely get you in a good spot.

• Failure To Establish Product-Market Fit: Developing and fine-tuning custom GPT models is a time-consuming process and it’s only worth it if you sell something that’s in demand. Spending time on something that no one wants is a recipe for disaster. We’d recommend asking around a niche market and conducting some market research to see what people really want (and are willing to pay for).

• Market Saturation Risks: As AI becomes more popular, the market may become saturated with similar offerings, making it challenging to stand out. People can actually copy your customGPT through something like this. Don’t worry though…watching the video will give you a solution.

Now, Here’s How To Get Started:

1. Educate Yourself: Start by gaining a deep understanding of GPT models and machine learning. Online courses (from Udemy) and tutorials can be extremely helpful. Youtube is free and a great place to start.

2. Develop a Niche: Identify industries or sectors that could benefit from custom GPT models, such as healthcare, finance, or e-commerce. Specializing in a niche can set you apart from competitors. We’d recommend going after higher ticket, B2B enterprise niches if you want to make the big bucks.

3. Build and Test Your Models: Use platforms like OpenAI or other AI model-building tools to create your custom models. Ensure thorough testing and refinement.

4. Market Your Models: Once you have a viable product, list it on the GPT store. Highlight its unique features and potential applications to attract buyers.

5. Network and Collaborate: Engage with online communities, attend AI and tech meetups, and collaborate with other developers to expand your reach and knowledge.

6. Scale Up: As you gain more clients and experience, consider scaling your operations. This could mean hiring a team, expanding your range of models, or exploring new markets.
   
   This is definitely an advanced side hustle but one that can make a lot of money for those up to the challenge.

THE TUBE

We know reading can be boring sometimes so here’s some videos for you to literally grow your brain:

• How To Build A CustomGPT…We found a video explaining the whole process…Woohooo!

• How To Get Rich…This video is one of the internet’s most precious gems. Few people have it figured out to the extent of Naval Ravikant and watching this video alludes to that very fact.

FREEBIE
A Fire chatGPT Prompt 🔥

We’ve used the prompts below to have some videos hit over 10k views on our youtube channel and we’re going to share it with you because you’re awesome…

Write a script about {topic} for an educational and informative 1-minute video. Keep in mind that the video script will be read out loud and not shown on the screen.

The script should follow this format:

-Hook
-Peak interest by talking about the result they will get after watching until the end
-Discuss how the strategy was unique 
-Call to action

The hook should start with one of the following hook structures, adapted to the topic:

-He/ She makes [X] per month, and we’re about to unpack it together.
-He/ She is known for [X], but what you don’t know is they’re crushing it in their business with [Y]...Now we’re going to unpack it together.
-Name achieved [X] but little did you know, they also are killing it with their business at [Y]. We’re going to unpack it together.

Total script should be a maximum of 120 words with extremely conversational tone and word choices. 

BIG LESSON OF THE WEEK
Be The Most Expensive…There’s No Such Thing As “Second Cheapest” 💰

When building a successful business, one key principle stands out:

Charging High Prices for High-Quality Products or Services. This isn't about being expensive for the sake of it; it's about understanding the value you provide and positioning your brand accordingly.

Consider EcoLux, a startup launched by a team of environmentally conscious millennials. They introduced a line of eco-friendly, luxury skincare products. Initially, EcoLux faced a dilemma: price their products competitively with standard skincare lines or charge a premium. They chose the latter, positioning their products as high-end, exclusive, and most importantly, eco-conscious.

The result? A brand perception shift. Customers saw EcoLux products not just as skincare items but as a lifestyle choice—a statement of luxury and environmental responsibility. Sales soared, with customers willing to pay the premium, seeing it as an investment in quality and values they held dear.

Dan Kennedy, the marketing GOAT oncce spoke about a segment of the market that is always willing to pay a premium for products or services. He mentions that every market has a subset of customers who are less price-sensitive and more focused on value, quality, exclusivity, or the prestige associated with a product or service.

These customers are not primarily motivated by discounts or competitive pricing but are driven by the perceived value and the status that comes with higher-priced offerings.

Businesses should target this segment by positioning their products or services as premium options. This involves not just pricing strategies but also quality, branding, and the overall customer experience. When focusing on this segment, businesses can achieve higher profit margins and build a loyal customer base that values what they offer over cheaper alternatives.

By recognizing and catering to the needs and desires of the premium segment, businesses can differentiate themselves in competitive markets and establish a strong, profitable brand.

That’s it for today 🙂,

The Secrets Of Profit Team