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For those who want to use ChatGPT to become profitable, you’ve got to get creative. That’s since the language model that’s been the “talk of the town” since late 2022 is powerful, but not “all powerful.”
As soon as I began fooling around with ChatGPT for the primary time in early 2023, I knew I could use it to make more cash in my business.
And I don’t just mean spinning up hundreds of articles to post spammy, low-quality articles for backlinks (should you know what I’m talking about, don’t even give it some thought).
I mean you possibly can leverage ChatGPT to become profitable in totally ethical, legal, and artistic ways.
This works particularly well should you have already got a business (if not, start here) because ChatGPT can essentially work as an additional teammate in some ways.
Let’s start with some popular ideas I’ve seen around the online for earning profits from ChatGPT. These ideas and examples come from real entrepreneurs growing real businesses and using ChatGPT to increase profits. I’ll mix in a couple of ways I’ve personally made money from ChatGPT already as we go.
1. “Outsource” Mundane Tasks
Perhaps probably the most powerful thing you possibly can do immediately with ChatGPT and other AI tools is “outsource” mundane tasks that used to take up plenty of your time.
For those who spend a big portion of your day responding to email, for instance, have ChatGPT craft 3-5 “canned” email responses after which store them up in something like TextExpander (my personal favorite) so you possibly can quickly and simply respond to emails in a fraction of the time.
For those who spend plenty of time brainstorming ideas or writing copy, ChatGPT might help with that too.
This primary money-making tip really encompasses much of what I’ll cover in all the opposite suggestions, but this is admittedly a mindset query.
You could have to train yourself to start asking:
“Can ChatGPT help me do that any more efficiently?”
The more you ask that, the more you’ll be surprised at how ChatGPT (and AI in general) can provide help to make more cash.
This is known as opportunity cost. And for each time you spend MORE of your effort and time on something, you’re saying “no” to something else you could possibly be working on to make more cash.
2. Brainstorm Business Ideas
If the concept of using ChatGPT to become profitable appears like an excellent one to you, but you’re undecided where to start… well… ChatGPT might help there too!
Just open up ChatGPT and ask for a couple of business ideas.
You may get something back like I did:
But let’s say you’re a solopreneur and don’t want to construct a large sustainable manufacturing facility (idea #3 above).
As a substitute, set a couple of parameters like: “I need to make money working from home. On my computer. And don’t want to store inventory.”
And voila: you have got 3 businesses you possibly can start from home, in your computer and without expensive inventory. Thanks, ChatGPT!
So while you possibly can review my list below for more ideas on making extra money with ChatGPT, the reality is, ChatGPT might even be a greater option for exploring ideas.
But don’t tell my blog editor I said that.
3. Create a Digital Product or App
Did you already know ChatGPT can code? I mean, not teach you ways to code, it might probably literally write the code you wish to make an app function properly.
I personally used ChatGPT to code this freelance rate calculator in record time. Could I even have coded it myself? Probably. Did I want to? No. (Again, see point 1.)
My team and I also used ChatGPT to solve a significant programming issue we were facing. Once we released this product, we thought we could just give the client a browser cookie they usually’d have access without end.
That was incorrect (we’re not programmers, really).
So, as a substitute, we had ChatGPT program an easy registration and login form so paying customers could access the product more easily.
In its first week, we made $2,000+ (quite a bit thanks to ChatGPT’s help with the code).
For those who’re an online designer, you possibly can offer custom code to your clients and ChatGPT can write it up in a fraction of the time—often with no errors the primary time around.
For those who’re an app developer, consider how helpful ChatGPT could be when developing a product—it’s an additional dev to bounce ideas off of while coding. Someone extra to check your work.
In my view, coding is one of the crucial powerful things ChatGPT can currently do. For those who’re not using it to become profitable yet, there’s a complete world of opportunity for you.
4. Create a Digital Information Product
In fact, even greater than coding and development, ChatGPT is great at language.
Naturally, using ChatGPT to help create a digital information product is an important way to make some extra cash.
I’m referring to ebooks, scripts, templates, worksheets, guidebooks, manuals, and some other written product you possibly can sell as a pdf or epub document.
Back to our product, The Freelance Files, we leveraged (and can proceed to leverage) ChatGPT to augment our custom-made files, contracts, templates and scripts for freelancers.
We made close to $1,000 in a day from this product which ChatGPT assisted us in creating.
For those who’ve all the time wanted to write a book, but never had an editor to bounce ideas off of, try ChatGPT. You’ll be able to put in portions of your written product after which ask ChatGPT to help fill in the gaps or make clear your writing.
It’s like having your personal creative partner, editor, proofreader, and confidant.
5. Generate Business Pitches
In my very own business, I do plenty of pitching. I send pitches to potential clients, potential sponsors, and potential partners.
And sometimes, I worry I’m not saying the proper thing. Or I’m not expressing my value enough. Or I’m leaving out critical information.
That’s where ChatGPT can come in to provide help to make more cash from your enterprise pitches.
For instance, I asked ChatGPT this query:
I ended my client pitch with this line. Do you’re thinking that something else could be more practical?
“I look forward to hearing from you.”
So ChatGPT used every thing it has learned by sweeping the web and gave me a crash course in professionally ending a business pitch email.
Alternatively, you could possibly give ChatGPT a couple of parameters and ask it to write a first-draft of a sales pitch or cold email.
The choices are nearly countless.
6. Negotiate Higher Pay
Did you already know ChatGPT can take the entire negotiation advice posted on the net over dozens of years and apply it to your situation to negotiate higher pay?
Whether you’re a freelancer looking to raise your rates or have a standard job and wish a raise, ChatGPT might help.
Take a have a look at this conversation I had with ChatGPT where I asked it to negotiate with me. I told it I’d play the role of a budget-conscious client and ChatGPT should play the role of freelancer.
What ensued was a really polite-yet-firm negotiation in which the freelancer stood “their” ground while still helping me see the worth in their work.
For those who’re undecided what to say to a client or a boss or how to negotiate with them, do a couple of practice rounds with ChatGPT.
Even higher: should you’re negotiating over email, you have got the time to plug the actual negotiation right into ChatGPT to see what it recommends.
This one tip alone could provide help to increase your pay by $5,000, $10,000 or much more at a full-time job. Or it could provide help to raise your freelance rates by 2x, 3x, or more.
7. Generate Engaging Emails & Social Content
Here on our blog, we bring in plenty of revenue from our email newsletter. Sponsors pay us for placement in our weekly newsletter called ‘Freelance Fire.’
If we will get more email opens or clicks by asking ChatGPT to write more compelling subject lines or in-email content, we will increase our monthly revenue anywhere from $1,000 to $5,000 or more.
Just from one quick ChatGPT conversation. That’s an excellent sum of money on the table.
You’ll be able to do that too. For those who’re just getting began with email marketing, you’ll quickly learn it takes a protracted time to write quality emails.
But should you can use ChatGPT to help craft your emails and increase engagement at the identical time, you’ll be making extra money before you already know it.
While I’m at it, this goes for social media posts as well. Coming up with something witty to say everytime you post on Instagram could be a challenge. But ChatGPT’s brain never gets burned out and is just limited by the input you give it.
8. Write Blog Posts & Youtube Scripts
If your enterprise relies on pageviews and video views to become profitable, then ChatGPT could be an important option for making extra money out of your content.
Our blog editor, Alex, uses ChatGPT to create content recommendations, generate prompts, after which write portions of content based on those prompts.
At first glance, these hybrid articles (part human, part ChatGPT) have good results. Trending up in traffic and engagement.
And we’re not even close to being the primary to do that.
CNET was among the many first big publishers to test AI-generated content (with mixed results). Content powerhouse Medium is allowing clearly-labeled articles written by ChatGPT. And scientists are even starting to publish research papers authored by ChatGPT!
We’ve used ChatGPT to assist us in generating lots of of freelancing terms in our freelance glossary which reinforces our reader experience by giving more context to our articles.
And it’s not only written content ChatGPT might help with.
We’ve taken scripts of our full-length YouTube videos and asked ChatGPT to create YouTube “Shorts” (60-second versions) from them.
ChatGPT can provide help to become profitable by writing compelling YouTube, podcast, or TikTok scripts to gain more followers and grow your revenue.
And products like RightBlogger are leveraging the ability of AI to do much more of this be just right for you.
There are, perhaps, more opportunities in written content than anywhere else to become profitable from ChatGPT.
9. Optimize Sales Copy
For those who don’t consider yourself much of a copywriter, then you should use ChatGPT to become profitable by enhancing your sales copy.
It doesn’t matter should you’re trying to sell more of your “thing” on Etsy.
Or should you’re trying to boost a Facebook Marketplace listing out of your latest yard sale haul.
Or in case your team has been working on a brand recent product and also you’re undecided how to present it in probably the most compelling way possible.
ChatGPT might help.
You’ll be able to ask ChatGPT for headline ideas. You’ll be able to ask it to shorten your copy. Or make it sound more personable.
Oftentimes, when it comes to sales copy, a small tweak or change can lead to huge results in sales.
BONUS: Learn a Money-Making Skill
For those who don’t feel like several of those ideas fit what you’re searching for, possibly ChatGPT can’t make you money directly.
But what it CAN do is provide help to learn a recent money-making skill.
For those who want to find out how to develop web sites, use ChatGPT to walk you thru the whole means of organising hosting, writing your first HTML or CSS, and publishing your website to the web.
For those who want to turn out to be a mechanic, ChatGPT can provide help to dismantle and reassemble your automotive from start to finish (my lawyers make me say we’re not responsible should you do this).
For those who want to find out how to trade stocks or invest in real estate, ChatGPT knows how you possibly can become profitable.
It’s literally like having a private tutor on almost any subject available 24/7 totally free. All you have got to do is ask.
A Final Word of Caution…
“How can I get people enthusiastic about earning profits with ChatGPT while also warning them in regards to the downsides of it in 5 sentences or less?”
That’s a prompt I entered into ChatGPT just now.
Here’s what it had to say in response:
The prospect of earning profits from ChatGPT is undeniably enticing, offering individuals unprecedented opportunities for financial growth and skilled exploration. Nonetheless, a responsible approach is paramount. By acknowledging the potential downsides, similar to job displacement, ethical concerns, and the necessity for ongoing education, individuals can navigate this field with informed decision-making and contribute to a sustainable and helpful integration of AI in our economic landscape.
And while it sounds robotic and dry, it’s not incorrect.
There are plenty of ways to become profitable with ChatGPT.
But each of the ways I’ve listed in this post are NOT turnkey—you possibly can’t just put something into ChatGPT and print money from it.
You continue to have to put a human spin on it. You could have to put in some human effort.
And while which will look like a bummer, it’s really not. Because, even when earning profits, if we outsource every thing to AI, we risk losing our humanity. And—even in business—what’s the fun in that?
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