So you missed the make money with ChatGPT trend. Well, good news, a new ChatGPT opportunity has just arrived and it's even bigger than last time. OpenAI has just released their all-new GPTs product, which is said to be the biggest opportunity in AI of 2024. These new and exciting GPTs are already being adopted by the world's largest companies like Shopify, Snapchat, and Canva, who are placing their bets on a future dominated by these customized versions of ChatGPT.
which should tell you something about where our world is headed. The best part about this and the reason I'm making this video today is that anyone can get started in creating their own powerful GPTs in just a few minutes and get in early on this new and exciting industry. However, as with any big announcement like this, it can be hard to see through the hype and identify the real opportunities to make money. I run two of my own AI companies that generate me over $100,000 per month in revenue.
So I've personally had to go really deep on research to assess this opportunity and really plan my strategy moving forwards. And in this video, I'll be sharing with you the three biggest opportunities that I've identified for you to make money with GPTs. And I'll be giving you the step-by-step instructions on how you can take action on these opportunities today to get in on them early.
If you're new to the channel and don't know who I am, my name is Liam Otley and I run my own six-figure AI development company called Morningside AI. And I also run the largest community of AI agency owners in the world, where my students learn how to make money by selling AI solutions like GPTs to businesses. Let's get started. Before we jump into the list, I need to give you a quick crash course on what GPTs are and what you need to know really before getting into this space.
Firstly, what are GPTs? OpenAI are calling GPTs tailored versions of ChatGPT. And the idea here is that you can create fully customized versions of ChatGPT that's perfectly tailored to your company or to your specific use case.
For example, this guy made a GPT that is an AI yoga coach. This guy made a GPT that is a luxury item authenticator that can check if your watch or designer bag is real or fake. And this guy made a real estate data analyst that can calculate ROI on properties, analyze market trends, even advise on property listings and much more. And even on this channel, I've created my own GPT designed to be sales rep coaches for solar companies.
These kinds of GPTs are just the first step towards allowing users and companies at large to build their own AI assistance either directly within the ChatGPT interface or via the new assistance API. This GPT's release is such a big step and such a big opportunity because this idea of having a ChatGPT on your business is by far the number one request that businesses have when they're working with development companies like myself. This is all they ask for. It's like, I want ChatGPT but with my business data.
So the fact that we now have this thing from... OpenAI that we can build on top of and deliver these things to businesses is such a massive opportunity. In order for you to take advantage of the GPT's opportunity, you need to understand the three key ingredients that you can use to create powerful versions of ChatGPT specific to a certain use case.
It's best to think of these ingredients as the variables that you can control in order to define what your GPT is, what it does and how it behaves. The first ingredient is prompting. So this is probably not rocket science for you guys by now.
Prompting are the written instructions that you can provide. to the ai to the assistant to tell it how to behave to tell it the kind of tone of voice to you to tell it what it can do so you're very familiar with this right now so i'll say that you've got the prompting thing down so far the second ingredient is knowledge yes you can now add your own files to the ai for it to draw from when it's creating its answers so you can give it pdfs you can give it docs you can give it csvs most data types are now supported so you can provide this additional knowledge to your gpt to use in generating its answers and the third ingredient is actions yes you can now use open ai's existing capabilities like DALI or Browser Bing or the Code Interpreter, but you can also add your own custom capabilities or actions that the AI can perform. The theory behind these custom actions can get a little bit complex, but for now just think of it as additional things I can allow my assistant to do, allow my GPT to do, that can do things in the real world. So I might give it some information, it might process that, it might interact with my database and I might pull things back. So those kind of actions that allow it to do things outside of just answering from knowledge base or answering from the regular chat GPT.
answering engine. So those are the three ingredients that you can use when creating your GPTs. We have prompting, knowledge, and actions. And of course, different combinations of these three ingredients will create very different specialized GPTs built for different use cases.
So you as the builder, I like a chef and you get to pick and mix the ingredients you want and the amounts, and that can create a recipe or create a separate outcome in terms of a specialized GPT for a specific use case or function. With that foundation laid, we are ready to get into the first way of making money that I've identified, which is to build GPTs for the GPT store. As part of the GPTs announcement, OpenAI announced that they are launching their marketplace where people can create and list GPTs that they create. So you get to be the chef, you get to put these different things together, and then you get to put it up onto the marketplace.
for people to buy or access or use. The key point here is that they have promised revenue sharing for popular GPTs, which could be a lucrative opportunity if you're some of the first people to get onto this marketplace and start building. But there are two things you need to be aware of before you get stuck into this opportunity. Firstly, you need to be aware of the kind of forecast on how this marketplace is likely going to operate in the first couple of months at least.
There is going to be an explosion of activity on this marketplace, which is going to rapidly fill out basically any low-hanging fruit and any GPTs that can easily be created with A public data set or a public API, basically anything like a crypto price tracker or any of these really low-hanging fruit, these are going to be made and commoditized very, very quickly. So in order for you to be able to make any long-term money from this, you need to be able to create GPTs that other people can't necessarily copy that easily. So as a rule of thumb, if you can make it in 10 minutes, someone else can likely make it in 10 minutes as well. So you need to be smart about how you create the GPTs on top of what they are created. So private data sets, or private apis as types of data or ways of accessing data that is not available to everyone will allow you to create a gpt that not everyone can compete with you on and you have this sort of monopoly over that kind of data if you can find these kinds of private data or private apis that other people will pay to get access to then you have a defensible position and you can start to make long-term money from your gpt's on the platform secondly you need to be aware that openai is basically getting the community to find their future product launches for them Many expect OpenAI to pull an Amazon-style move with this marketplace and they'll just be skimming the winners off the top by integrating the best and most popular functionality on the marketplace into their own solutions.
And they've already done this with the knowledge bases and things like this. This is basically an Amazon-style move because Amazon, when they see products that are selling like hotcakes on Amazon, they then source the product themselves and then they start making their own listings and then they rank those listings sort of as they wish within the search results. You can expect OpenAI to do the same thing here. So... if you win big on the marketplace you could well be wiped out in the next update which is why i prefer these are the next two opportunities that i'm going to be covering in this video basically it's not that defensible or sustainable in my opinion my recommended strategy to start making money on the open ai marketplace is to firstly start creating gpts you need to roll up your sleeves get your hands dirty and start building these things and doing it often you need to learn how different data types can be used in the knowledge base to do different things you need to get familiar with creating custom actions The entire shebang, you need to be really familiar with it so that you know how to create these things moving forward.
I've actually already done a video showing you how you can set up custom knowledge and custom actions in your GPT. So if you want to watch that and get started, you can click on that up here. It's important to note that monetization and revenue sharing is not yet enabled on the platform, but you need to be able to become an expert now so that you're first to the scene and ready to start making money with these and putting out some high quality GPTs. Step two is to build your developer reputation.
OpenAI has developer profiles on the marketplace, so if you can establish yourself early as a good builder, you can set yourself up for long-term success by building that reputation now. And step three is to find unique datasets in order to escape competition. As mentioned, to create long-term value, you need to create GPTs that no one else can. And this starts with finding data that others can't get access to.
If you'd like a video on this specific topic of finding sort of hidden data to create valuable GPTs, let me know in the comments and I can put a video together. That's my strategy for making money on the open AI marketplace. It's not my favorite out of the three.
These other two are definitely more up my alley and I think they're more defensible long-term. Which brings us to opportunity number two, which is to build custom GPTs for businesses. In my opinion, the real money in this GPTs gold rush will be made by helping businesses to create and implement their own GPTs.
I've even created an entire business model around this opportunity called the AI Automation Agency, which is where we basically help businesses to implement AI technology. And as the new updates come out like what we've just seen, you help them to implement that as well. In my opinion, the GPTs on the store and the marketplace are cool, but the real value is going to be created through what's called the Assistant API, where you can create powerful assistance for businesses that can be built into their systems and run programmatically without a human having to be able to talk to it and operate it.
These kinds of assistants or GPTs that are built on the Assistant API, rather than through the ChatGPT site, is a completely different ballgame and one is for consumers and one is for businesses and industrial grade applications which is why I say that this side where the assistance API is is going to be where the majority of the value is created from this technology and from this update. Starting an AI agency like this is in my opinion the smartest move long term as by specializing in AI agent solutions and specifically GPTs you're ensuring that you're on the forefront of this technology and you can constantly adapt and update your offering to include the latest from open AI so meaning you get consistent new revenue by upselling clients whenever there's a new update that comes out so you build them the assistant it's working great and then a new update comes out you say well these new features we can just plug those in to the existing system that we've created for you the key here then is to be able to plan create and sell tailored GPT solutions to businesses I've even got a video showing you exactly how you can create a GPT using the assistance API that I just mentioned and then put that onto a website so that you can sell that as a service or a product to businesses so if you are interested in creating an agency and selling solutions to businesses I'll check that video out up here it is really really cool I've also got a complete guide on how you can sell GPT's to businesses so if you're not already subscribed then subscribe for that because that's coming very soon my recommended strategy for making money with this opportunity is to firstly learn how to put GPT's on websites that's just what I've mentioned in that video there it'll also be linked in the description but this is the first and most obvious solution or product or service that you can sell to businesses. Step two is that you need to pick a niche. So for example, you might say, we build GPTs for coaching businesses.
It's important that you narrow your scope down to a specific type of person. You might try a whole bunch of them initially, but you do need to pick a specific person to be contacting and telling them what you can build for them. Step three is that you need to start reaching out to businesses and offering a free build, a free chatbot, or even doing a free AI audit of their business to identify where GPTs can benefit their business. And step four is that once you've done your audits and your free builds, then you can start charging for the services that you're providing to other clients.
And it's definitely the simplified version on how to create one of these AI agencies. But if you do want to learn more and move on this opportunity as soon as possible, you can join my AI business accelerator, which is going to be linked in the description. Inside my community, you can learn step-by-step how to create one of these businesses and get access to coaches and resources and tools, et cetera.
That opportunity wrapped up, we can get stuck into our third and final opportunity. which is to specialize in GPT strategy and development as a freelancer. Before we get into the third one, if you are enjoying the video, can you please hit down below and leave a like, would really help me and my channel and the community out a lot.
And also if you're down there, subscribe if you enjoy this kind of AI business content, as that's the focus of this channel. Back to the video. The opportunity to specialize in GPT strategy and development as a freelancer, it's really just a logical step from the opportunity we just mentioned, which is that there's going to be hundreds of agencies popping up to specialize in GPT development for businesses.
So there's going to be huge demand for people and freelancers who can actually use the assistance API effectively and this is really a sell the shovels approach similar to the agency model. At the end of the day there's going to be all of these agencies going out and finding all of these clients but they're going to need to hire people or contract out to people who can actually create the assistance and use the assistance API to build the solutions. Now people keep saying that coding is dead and will be wiped out soon. While long term I think that yes it will largely become handled by AI.
Until then, I see it becoming even more valuable than ever, as developers can increasingly build insanely powerful assistants in just a few hours. The input to output ratio is going through the roof when you're a developer who's enhanced by AI. My recommended strategy for making money with this opportunity is firstly to learn basic Python and JavaScript. Now, some of you might be rolling your eyes right now and saying, oh, coding's dead. I'm just talking from my own experience.
I build these things with the assistance API. I've been building AI software for the past year. In my experience, knowing how to...
write python and javascript code has been hugely valuable and allow me to do basically anything and build anything i wanted to when it's assisted by chat gpt step two is to start building assistance so use your python knowledge to go and use the assistance api to start creating some of these gpts programmatically and really flexing your skills and getting familiar with what you can build and how to use the knowledge component the tools component etc and step three is to actually join my community you can join my free community you can join my paid community but inside there is where you're going to be able to list yourself and list your services as an assistant expert developer for GPTs so that you can start to find your first clients and get your first work as a freelancer. Because in my community, there are thousands of agency owners who are going out and getting in front of businesses and telling them that they can build them certain things. Essentially, the people who are running agencies within the community go out and find clients.
And then when they need it actually delivered, they come to people like you and contract out the delivery. So that's how the whole ecosystem works in my community. If you want to join my paid community, that's in the description. And then my Discord link for the free community is also in the description.
And finally, step four is to build your personal brand as a GPT specialist. So this means creating your website, maybe even creating a YouTube or starting to post on LinkedIn, starting to put yourself out there and say, these are the kind of things I've done and this is how I can help you. And there you have it. Those are the three biggest opportunities that I see to make money with GPTs right now.
If you've enjoyed this video and want to stay in the loop on the latest updates regarding GPTs and how to build a valuable business in this new industry, be sure to subscribe to the channel down below if you haven't already. I have a ton more content coming that you do not want to miss. So. I'm actually working on a complete guide to building GPTs so that you have the skills you need to crush this opportunity in 2024 and beyond. So subscribe below for that and while you're down there please leave a like on this video it really helps me and my channel a lot and also if you aren't already part of my free telegram and want to get daily updates on this GPTs opportunity and my learnings as I continue to explore things further that's going to be linked in the description so you can join there for some daily value.
And finally if you are interested in learning how to create a custom GPT via the assistance API and put it on a website you can click. here this is the video i mentioned earlier in the video but aside from that thank you so much for watching and i will see you in the next one