Notes on AI Business Strategies

Introduction

• Turning curiosity about AI into a $100,000 monthly income.
• Explore the potential of starting an AI business in 2024.
• Main objective: Help others achieve financial freedom through AI entrepreneurship.

Chapter 1: Is Starting an AI Business Right for You?

• Important questions to consider:

  • Is entrepreneurship right for you?
  • Do you need to be a developer to succeed in AI?
  • How much time is required weekly?
  • Why choose AI over traditional online business models?

• Entrepreneurship Reality:

  • Romanticized view vs. actual challenges.
  • Significant ups and downs experienced in the journey.
  • Total accountability for successes and failures.

• Commitment Required:

  • Building a business takes time, effort, and sacrifice.
  • Success is possible and rewarding for those willing to invest effort.

• Developer Skills Not Required:

  • Various business models in AI – not all require coding skills.
  • Options exist for non-developers to thrive in the AI space.

• Time Investment:

  • Ranges from 1 to 12 hours per week, depending on the business model.

• Choosing AI:

  • Long-term potential in AI is greater than in traditional models like e-commerce or SMMA.
  • AI offers more opportunities for expertise and fast monetization.

Chapter 2: The Five Types of Online AI Businesses

1. AI Consulting:

   • Experience: None.

   • Startup Cost: $0.

   • Time to Profit: ~3 months.

   • Long-term potential: Low.

   • Recommendation: Attract clients by sharing knowledge and offering consulting calls.

2. AI Education Business:

   • Experience: None.

   • Startup Cost: $100-$300 for courses/software.

   • Time to Profit: ~3 months.

   • Long-term potential: Medium.

   • Focus on creating educational resources and courses about AI.

3. AI Agency:

   • Experience: None.

   • Startup Cost: $300+.

   • Time to Profit: ~3 months.

   • Long-term potential: High.

   • Agency model focuses on helping businesses automate processes using AI.

4. AI SaaS (Software as a Service):

   • Experience: High.

   • Startup Cost: $50,000+.

   • Time to Profit: 6-12 months.

   • Long-term potential: Huge.

   • Requires significant resources and technical expertise.

5. AI Freelancing:

   • Experience: Medium.

   • Startup Cost: ~$200.

   • Time to Profit: ~2 months.

   • Long-term potential: High.

   • Focuses on freelance AI development or consulting services.

Chapter 3: Core AI Business Skills

• Prompt Engineering:

  • Crafting effective prompts to leverage AI outputs.
  • Key techniques: Role prompting, shot prompting, context, and markdown formatting.

• Understanding APIs:

  • Basics of API interactions and how to integrate them into business solutions.
  • Importance of GET and POST requests.

• Tool Creation:

  • Building AI tools to streamline operations and improve service delivery.

• AI Auditing:

  • Identifying AI opportunities in businesses to enhance operational efficiency.

• ChatGPT Coding:

  • Using ChatGPT as a coding assistant to streamline software development processes.

• Content Creation (Optional):

  • Generating online content to attract leads and build a brand in the AI space.

Chapter 4: Step-by-Step Guide to Starting an AI Business in 2024

• AI Liam Platform:

  • Personalized AI business coach to tailor strategies for individuals based on their background and resources.
  • Free and paid options available, constantly updated with new strategies.

• Encouragement to Start Now:

  • The best time to start was yesterday; the next best time is now.

Conclusion

• Urges viewers to take action based on the insights shared.
• Offers resources and community support for aspiring AI entrepreneurs.