The Blueprint to Starting A Successful AI Business

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Time stamps:
0:00 – Intro
1:32 – How to make a good product
2:12 – What platform
6:00 – How to find developers
9:45 – How to explain Your idea
11:03 – How much to pay
13:05 – Project Management

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Openai made the world's most powerful Ai And they actually made it available for Anyone in the world to use however they Please I don't think people realize how Much this actually changes the world Openai spent seven years in billions of Dollars making gpt3 which means they Literally made the product for you and Thanks to the API you can essentially Just repackage their AI AKA used their Product to solve problems in the Industry that you're an expert in and Just like that you have an amazing AI Product and in part two of this Three-part series that is exactly what We'll be going over today how to Actually make a good product with open Ai's API okay so everyone watching this Probably wants to make a million dollars But it's likely that ninety percent of People watching this are never going to Take action so understand that if you Are in that 10 that's actually serious About creating an AI business this is Not going to be fast or easy but the Reward if done properly will be massive I mean look at tweet Hunter I actually Mentioned them on the channel just a few Weeks ago and they actually just Announced they sold their AI business For two million dollars and what's Remarkable about this is the business is Only 15 months old so understand that This is a commitment you have to make to

Yourself and you have to be prepared to Leave your comfort zone and learn new Skills you're gonna need to find Developers designers copywriters and Even learn marketing I will show you Each piece of the puzzle to make it as Digestible as possible but just Understand this is not some gimmicky get Rich quick scheme so first and foremost How do we make a good product and Understand that is foundational you have To have the mindset of how to make the Best product out there because word of Mouth is the most powerful drug it Either works for you or works against You and if you put out a half-assed Product people are going to talk about That and your business will never grow So if you put the work in up front to Make a great product it is going to be Way easier in the long run because word Of mouth will spread and that will Actually create organic growth for your Product so it is better to have the my Mindset of how do I make the best Product possible instead of what is the Fastest product I can make as Jeff Bezos Says slow is smooth and smooth is fast So that's foundational how do we make a Good product but the next aspect is Identifying whose problem we're actually Solving in the best way to deliver the Solution to said person so for me there Are essentially three main options one

It could be a website based application So you just build your own website and Deliver the product there two you can Get on like a mobile app store like the Apple App Store or Shopify app store or Three you can make a tool that can be Used anywhere via a Chrome extension Again the choice all depends on the Problem that you're choosing to solve And you should choose the most Convenient option for your Target Demographic each platform has its own Unique pros and cons so let's go through Them let's start with web apps these are The easiest to make and the most direct Which makes it my go-to web apps are Simply products that you can deliver and Can be used directly on your website so Some examples that I've mentioned on the Channel of web apps are going to be Tome The presentation Builder sweet Hunter What what I referenced earlier and site Kick which helps you build landing pages Web apps are typically designed for People on desktops or laptop computers But can also be used on a mobile browser These are great because they're the Easiest to make and you don't have to Get your app actually approved on an app Platform also you keep 100 of the profit Which is great you simply put up your Website and offer your service for a Price the downside is you will likely Get zero organic traffic so you're going

To have to rely on paid influencer Marketing or paid ads to kind of ignite That word of mouth I will go over Different traffic sources and strategies In the third part of this series which Comes out next week but for now let's Focus on the different platforms so web Apps contrast exactly with app stores so If you decide to go the mobile app route Kind of like linza did with their magic Avatars you will benefit from the fact That it could be recommended on the App Store and people are going to naturally Search for AI tools like yours and that Could show up in their search which Leads to organic traffic and on top of It mobile is very convenient for the Consumer which means you can charge Slightly more in some cases but the Downside of mobile apps is you have to Be an approved developer you have to Submit your app for approval and then Once you do get approved they're going To take 30 of every single sale you Heard that right if you have an app on The App Store and you sell a service for Ten dollars Apple's gonna get three Right off the gate and you're left with Seven dollars so in my opinion I Recommend to start with a web app just So you can prove the concept and see if People actually want your product and if That's proven then you invest in the Actual mobile app another thing to think

About is apps are slightly more Expensive to develop and there is a Little bit of a higher barrier to entry Since you have to be an approved Developer but as I mentioned in a Previous video if it's harder to start That means there's going to be less Competition and you can get on any app Store whether it's the Apple mobile app Store or an app store like Shopify for People building their eCommerce brands Or WordPress for your everyday consumer That wants to make a website for their Own personal brand these are different App stores that you can create specific AI tools to solve their specific Problems again this is all depending on Where your Target demographic lives Online which is why it's very important To define the problem that you're Solving and where those people actually Live online and then moving on to what I Think is kind of the best middle ground And what I find myself using the most as A consumer is Chrome extensions I Actually read an article that Chrome Extensions are 20 times less competitive Than your typical web app and a Chrome Extension that I've been using a lot for Example is Merlin it's great because It's so quick and easy and I can use it On any website I just hit command G and I can summon chat GPT on any website Chrome extensions are probably the most

Convenient for the consumer they're low Lift meaning they do not have to be Entire platforms and just one specific Use case is all that it needs to be Something that makes someone's life Slightly more convenient and from a Development standpoint It's relatively Quick to make so the choice is yours web App mobile app or Chrome extension those Are the pros those are the cons now it's Up for you to decide okay so far you Should have defined the problem that You're solving the product that you're Making where those people that have that Problem live online in the medium in Which you're going to deliver that Product now how do we actually get the Product made for me personally this was The scariest aspect of starting my first Business how do I find a good developer And a good developer that I can actually Trust the main questions I had were Where do I find developers how do I even Explain my idea what questions do I ask To make sure this person is qualified And how do I know if I'm getting a good Price but after I've done it I've Actually learned it's not hard at all And I was just kind of scared because it Was something new that I've never done Before let's break down each question That way you're confident you know Exactly what you need to do to hire your First developer first where do you even

Find a developer first developer I ever Hired was actually through upwork and he Was great upwork is essentially like a Job posting board where Freelancers can Look for jobs that they're qualified for And then submit to get hired for that Job so I just simply posted the job Description the skill set that I needed And then people DN me saying that they Were qualified and then we hopped on an Interview but what you need to be Careful of is a lot of these people may Act like they are more skilled than they Say they are just so they can get the Job but then they won't be able to do a Good job and then some people are just Straight up scamming so it's really Important to do your due diligence it's Impair narrative that you interview Multiple developers and you don't just Go with the first person that's Promising you the world you really need To test and make sure they actually know What they're talking about make sure They're showing you previous work They've done and they can explain to you The actual capacity that they were Working on that project upwork is solid But it's also kind of a blind shot and You need to be careful so we have also Found a lot of success from hiring Developers from Discord communities There are a lot of Discord communities That are centered around helping people

Learn AI development and if you do a Quick search I'm sure you can find a few But because of this we have actually Started vetting developers in my free Discord Community we've actually Verified over 19. so what this means is Our lead developers have just Interviewed them asked them questions And basically vetted them to verify they Actually have the expertise that they Claim to have so it's a free Discord Just go into the hire a developer Section and post the job that you're Looking to get done you're most likely Going to be looking for what is a full Stack developer meaning someone who can Work on your front end and your back end Front end is essentially like the Functionality of the website that you Actually see May making sure all the Buttons work and connecting things to The back end and then the back end is Essentially like connecting the open AI API servers and all this technical Nonsense that I don't understand but That's what you're looking for on top of That you're going to need a UI and a ux Designer AKA someone to design the Actual layout of the website where does Each button go what does the design look Like and this is actually very very Important because as I talked about in My first AI video about the seven best Businesses we are entering a value

Through design a value through UI phase Where that's what really is standing out The design of your website and how easy It is for your consumer to actually use Your product is going to be make or Break for your business so again I Recommend you interview multiple people And you are as specific as possible when You're talking to them about what you're Looking for don't just be broad say hey I need a website can you figure it out Be very very clear about the Functionality and where you want things To be laid out so again if you're Looking for developers you can join our Free developer community and if you're Actually a developer yourself join our Community and submit an application to Get verified if you're looking for work There are other Discord communities I Think the Codex community and another One called learn AI together where AI Developers are learning the actual Process you could actually go there and Find an upcoming developer that's Looking for work as well there's no Right answer or right or wrong place Just make sure you're interviewing Multiple and asking the right questions Other places to find developers are your Local college or LinkedIn so understand There is no right place but if you are Serious you're looking around asking Around I guarantee you will be able to

Find somebody and side note if you know Anybody in your life that knows how to Code in any capacity I recommend asking Them for advice or having them help you Interview people just so you don't get Taken advantage of we often interview Around 10 developers before settling on The one that we decide to go with okay So you found 10 developers who set up 10 Different interviews how do you present Your idea to these developers and what Questions do you ask them for me I just Make a simple Google doc nothing crazy Just explaining the idea at a high level Explaining that I want the product to be A website a mobile app or a Chrome Extension and I'm going to make bullet Points of all of my desired features Now Understand that some of your desired Features may not be practical right away And you kind of want the mindset to make What is called a minimal viable product Or an MVP meaning you just want to make A functional tool that proves that you Can solve the problem efficiently and Then once you have an MVP that solves That core problem you can then offer This to a small group of friends or an Online community to see if people will Actually use your product Reddit is a Very popular place for the AI Community Another great platform is product hunt If you want to see newly released tools Or even get your tool featured to see if

People are interested so if people do Like your tool your MVP you can then Focus on improving the tool and adding New features down the line for time's Sake I'm not going to cover all the Questions that we ask when we're Interviewing developers but I have put Them in a Google doc that I'll send to You completely for free just click the Link in the description and we'll email Them to you but you're basically trying To see if this person has the proper Skill set is trustworthy and someone you See yourself working with long term this Is someone that can make or break your Business so do not take this decision Lightly you could be working for years To come if this business takes off okay So you interviewed these developers you Ask them the right questions and you Found someone that you're confident now How much do you decide to pay them very Broad number here but if you're making a Simple tool I would expect to invest Anywhere from two to ten thousand Dollars but understand Silicon Valley Developers who are the best in the world Charge five hundred thousand dollars a Year and so it's always going to depend On how complex your idea is in the Experience of the developer themselves So because that's hard for me to give a Blank statement there are also three Different payment structures that you

Should consider if you are confident in Your idea you have advantages and you Know how to sell the best way to go is To just contract the developer at a flat Rate and get the tool built I would Recommend paying in milestones for Example you get a quote on the front end You pay 50 up front and then you pay 50 Once it's done and then you do this for Every single Milestone or you could do Hourly where they send you a daily Report on the tasks they completed but Just make sure they're screen recording Their work so you can track it yourself Or ask if they can push their progress In GitHub so you can see the live Updates now maybe you have a little bit Less money to invest up front but you're Really confident in the idea and you and The developer you interviewed really get Along in this case you could actually Save money up front by offering the Developer a smaller upfront payment but Then actually giving them a revenue Share on the back end forming an Official partnership this way you're Taking less risk up front and you're Aligning the incentives of the developer To make a good product more efficiently Because at the end of the day if you Don't make a product he doesn't make Money on the back end this is what I Would recommend for a lot of you to do And what I do quite often now if you

Have a developer that you know really Well you trust them and you know he Makes great work is do an equity split Meaning you give him ownership in the Company this is what I've done with my Business partner and is the best Long-term strategy because you can't Build something great alone and if you Have someone that has opposing skills is Equally committed and motivated you can Accomplish much more much more quickly At the end of the day any business you Need two people someone who can make it And someone who can sell it think Steve Jobs and Steve wozniaks alone neither One of them could create Apple but Together they created the most valuable Company in the world so those are the Different ways you can actually pay your Developer now assuming that you've Settled on that the last aspect of Executing on an idea is proper project Management this ensures that everyone on Your team knows exactly what they're Responsible for and that you're able to Track that everything is getting done on Time for us we use notion for all of our Internal docs and task management notion Is very powerful if you actually take The time to learn it you're starting Your first business this is something That most people look past but is super Crucial to make sure you're not Overpaying or wasting time so definitely

Go watch videos on how you should handle Project management on notion there's a Lot of great free videos out there get Your team set up and you'll have Seamless communication across the board This will just make sure everyone is Getting their responsibilities done in a Timely manner so there you have it my Friend everything you need to do to Execute on your AI business idea and to Go from idea to an actual product so in The next video I will be covering Actually how to Market and sell your Product and frankly this is our team's Strong suit so I'll be covering a lot of Insightful strategies tactics and Overall how you should think about Marketing so if you're excited about That go ahead and subscribe to the Channel other than that I hope you have A great day and I will see you in the Next one

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