is ChatGPT a huge deal? As of March 2023, ChatGPT had become the fastest-growing tech platform ever. It reached a million users less than a week after its inception! By January 2024, ChatGPT had over 180 million users per month. Clearly, it is popular! But what can you really do with it? Well, it turns out that the possibilities are numerous. And there are other ways to make money using the platform.
ChatGPT is most commonly used to generate writing drafts, such as outreach emails, social media content, blog entries, YouTube channel scripts, and so on. Using the platform as a draft-generating tool can save you both time and money over hiring a contractor to develop such content in the first place.
ChatGPT is also useful for product pricing. It can be challenging to set a competitive price that maximizes revenues while not alienating customers. ChatGPT allows you to more easily examine consumer buying habits, demographics, and related product pricing.
ChatGPT is also a robust search engine that can provide more personalized results than a standard online search. Say you want to investigate new technologies for your business; a standard search engine may return a profusion of results, but you’re stuck assessing each one and risk becoming overwhelmed. However, searching on ChatGPT will provide you with both a list of possibilities and an analysis of those options depending on the traits you want to emphasize, such as a streamlined user interface or extensive sorting capabilities. ChatGPT can help you examine your alternatives, freeing up time to focus on the more vital aspects of running a business.
In addition to writing and analyzing, ChatGPT may help you learn a new language, study, and code.
Effective utilization of ChatGPT
Okay, so you’ve created an account with ChatGPT and done some exploring. You may realize that there is an art to making efficient use of technology!
When you ask the platform a question, you are prompting it. It is critical to be clear and exact when entering a prompt into ChatGPT. If your first few requests do not give the desired results, do not panic; with practice, you will improve. A noteworthy distinction between using a regular search engine and ChatGPT is that the latter allows and encourages you to use more complete words to get particular about what you’re looking for.
A nice example prompt would be, “I’m visiting Washington, D.C. for a week; please recommend some places to go sightseeing.” The platform will most likely provide you with a list of locations, along with a phrase or two about each option. If you decide you want some quieter areas, you can narrow down the results by asking, “Give me other, lesser-known places that are still interesting.” You may also input phrases like “I’m not a fan of expensive restaurants” and ChatGPT will change the results accordingly. As you explore, you’ll discover two things: the way you frame your requests completely alters the results, and you don’t have to rephrase your entire request every time because ChatGPT will recognize you’re still talking about the same item.
Another technique to help develop the content you’re looking for is to teach the platform to write in a specific tone or style, such as Steve Jobs’. Another efficient method to use ChatGPT is to tell it to act like something. For example, you could ask, “Please act as a blog writer. Create a 300-word blog post about using ChatGPT to generate passive income streams. Other “act as” prompts may include a productivity coach, a business founder, a language instructor, a personal financial counselor, a resume writer, or a digital privacy specialist – any occupation will do!
If you don’t like any of the platform’s responses, you can try regenerating them. You may also ask it to generate many responses to the same query, which is very useful if you’re creating blog titles, email subjects, or places to visit, as we previously discussed.
When utilizing ChatGPT, keep in mind that, while it is useful for generating drafts, it should not be used without human editing. You’ll want to make sure the content it generates matches your expectations. You can ask ChatGPT to rewrite certain portions of writing to increase clarity and tone. However, make sure you perform one final read-through to identify any errors that may have crept through.
Productivity & ChatGPT
ChatGPT can be very beneficial to entrepreneurs and small business owners. It can take the role of pricey contractors, allowing you to operate faster, cheaper, and more independently.
For example, as previously noted, ChatGPT can assist you in writing outreach emails. Have you ever tried to discover an email template that precisely fits your specific scenario and business, and then spent hours composing the perfect email? Even if you are pleased with the ultimate outcome, you have invested a significant amount of effort. Instead, you may ask ChatGPT to create a brief email with all of the necessary information and written in the tone you like. Then all you have to do is check it for accuracy, and you’re done!
You can use ChatGPT to your comfort level, which means you can save as much time as you need depending on the task at hand. on example, when writing a blog post, you can prompt ChatGPT with a question like, “Give me ten blog post ideas for running as a form of meditation.” From there, you can either write the article yourself or ask ChatGPT to produce an outline based on the topic you want to use and then write the post yourself based on the outline. Alternatively, you may complete the work by instructing ChatGPT to “write a blog post with SEO already applied” based on the idea you chose and the outline it provided. If necessary, you can request that the platform update its own content for readability, clarity, or even humor! And, as usual, make sure to inspect the finished product before using it.
It’s worth noting that if you want ChatGPT to generate a whole piece of writing, such as a blog post, employing an outline is quite helpful. ChatGPT can produce the outline or you can construct your own. Using an outline allows the platform to generate a more clearly structured piece of writing, requiring less tweaking or editing from you.
As you use ChatGPT more, you’ll improve your ability to type effective instructions. You may also discover a strategy that works well, such as the three-step blog post method we just discussed. You may also discover that asking the platform to edit itself is easier, such as first asking ChatGPT to make an output funnier and more relatable, then requesting it to add SEO formatting and headings, rather than the other way around. One final strategy for assisting ChatGPT in editing itself is to request that it generate a shorter or longer response. If we were still working on a running-related blog piece, you could have the platform change it by entering something like, “Please rewrite it to be shorter with less detail on shoe types.”
Another method to utilize ChatGPT to boost productivity is to have it generate various types of material based on the same prompt. This is very beneficial on social networking. For example, you could ask the platform to develop a marketing strategy for your company. With just one thorough prompt, ChatGPT may generate critical messages, cost estimates, recommended social media channels to use, timelines, and activities to complete. You can also ask ChatGPT to create particular social media posts on products and tailor them to other platforms such as Instagram and Facebook.
Remember that you can have ChatGPT function as a marketing director or agency while doing this activity. Using ChatGPT for this type of work will help you maintain consistency in tone and branding across all social media platforms with no effort on your part, thereby increasing your productivity.
Other ways to use ChatGPT to boost your productivity include asking it to create a detailed nutrition plan based on your preferences and current physical details, a training plan based on your fitness goals and existing abilities, or even a learning plan if you want to learn something new or teach it to someone else.
Passive revenue streams
The passive revenue streams you’ll want to pursue using ChatGPT are those that aren’t as widely available; that way, millions of people won’t try them. Essentially, if something is too easy to do, too many others will copy it and swamp the market. Low-content books, such as coloring books, that anyone can upload to Amazon, for example, have already become commonplace. However, ebooks, blog articles, software applications, and YouTube videos require more effort to set up, even with ChatGPT, and hence can be a more profitable income stream. So, how do you go about establishing up these income streams? For the time being, let’s stick with YouTube videos.
One distinguishing feature of YouTube videos is that they frequently have no expiration date. This implies that when you attract new viewers, they will be interested in revisiting and watching your older films, which will continue to generate ad money for you. Other social media posts rarely receive that level of participation, which means they can have a shelf life of only a few hours at times.
So you’ve chosen to create a YouTube channel. Perhaps you already have a direction in mind, but if not, ChatGPT can help you come up with ideas for videos to create. You can ask the platform to suggest keywords for a YouTube video that have both a low competition level (meaning few videos already exist) and a high search volume (meaning people frequently put those phrases into searches).
After ChatGPT generates ideas and you select one, instruct the platform to create a video script based on that idea. You can request a script that is amusing and entertaining, serious and engaging, or whatever tone you like. Make sure to mention how lengthy the video should be. The final product will most likely be imperfect, but it will be an excellent beginning point, especially if you were experiencing writer’s block in the first place!
While you can utilize AI to create both a video and a voiceover based on the script you had ChatGPT create, bear in mind that YouTube videos with AI voiceovers are rarely monetizable. So, if you want to make money on YouTube, perform your own voiceovers.