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The $100 MBA Show
MBA2400 How To Create Your Own Chat GPT + Free Ride Friday
00:12:32
In today's fast-paced business landscape, it's crucial to stay ahead of the curve. And AI is the secret weapon that can give you a competitive edge. One incredible tool that's making waves in the AI world is ChatGPT by OpenAI.
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- [00:01]
Ryan Reynolds
Ryan Reynolds here from Mint Mobile with a message for everyone paying big wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying. No judgments. But that's weird. Okay, one judgment anyway. Give it a try@mintmobile.com Switch upfront payment.
- [00:22]
Omar Zenhom
Of $45 for 3 month plan equivalent to $15 per month required intro rate first 3 months only, then full price plan options available, taxes and fees extra. See full terms@mintmobile.com hey. Oh. Welcome to the $100 MBA Show. Business tips you can put into action right away with our practical business lessons. I'm your host, your coach, your teacher, Omar Zenholm. And today is Free Ride Friday where we give away a free ride to the $100 MBA program over at 100mba.net showing you how to become a better entrepreneur, 100% guaranteed. If you want to win a free ride, just leave us an Apple Podcast rating and review and you enter our weekly random draw. We announce this week's winner a little bit later in today's episode. In today's episode, you will learn how to create your very own ChatGPT. I did all the work, all the research for you. I've watched tutorials, lessons, dug deep into OpenAI's documentation. I've done all the research for you, and I'm going to deliver it on a silver platter for you. In today's episode, we're going to talk about why you would want to create your own chatgpt, your own chatbot for your own business. We're going to talk about how easy it is to do this, as well as how you can make money with this incredible technology. This can add tremendous value to your offerings as well as be an offering in itself. The AI technology that is coming out is growing and changing and improving at such a rapid pace, it's almost hard to keep up. But don't worry, I got your back. I did all the research for you so I can share it with you all on this episode. So let's get into it. Let's get down to business. So recently OpenAI, which is the company that created ChatGPT, had a big keynote and a bunch of new announcements. There are two key announcements that really just knocked people's socks off. The first one is the fact that you can create your own ChatGPT specific ChatGPT with specific knowledge. So regular ChatGPT is just a general AI chat platform where you can ask questions and it can get back to you and it can do certain actions. But let's say you wanted to create a very specific chatgpt. Let's say you're a snowboarding coach and you want to create a ChatGPT that's all about snowboarding, that answers very specific questions about snowboarding. And we're going to talk about how that's all done in practical terms. How does it actually know all this information? But for now, let's just talk a little bit about these announcements. The first announcement was, hey, you can create this little chatgpt that's specific to a certain niche, and you can offer it on OpenAI's App Store. So you can customize this and then you can send it to the App Store. The interesting thing is, is that you don't need to code. You can actually build this ChatGPT version that you want with some prompt by just telling ChatGPT to create you a ChatGPT. Pretty meta, but that's exactly what it is. So that is one of the announcements. And to be honest with you, that's not really what's exciting. That's great for kind of the commercial side of things, but, you know, ChatGPT is going to share revenue with you on the store and all that kind of stuff. But as business owners, what's really exciting is the other announcement, which is their Assistant API. Now, this kind of went over a lot of people's heads, but I'm here to kind of break it down for you, because I kind of didn't understand it until I did the research and figured out, oh, wow, this is huge. So the Assistant API is basically allowing you to create your own chatbot using ChatGPT4 and any information you provide. And then with the use of some tools, you can literally put this on your website or in your application, or offer it to your customers. And spoiler alert, you're going to see a lot of people offering this as a service, meaning you could sell other businesses their specific ChatGPT bot. You can create it for them. So if you're in the services, this is a great opportunity right now. So what is this Assistant API? So, basically, it taps into the code of ChatGPT and allows you to customize and make your own ChatGPT with other pieces of information. You basically could teach ChatGPT specific knowledge. Let's go back to that snowboarding instructor example. Let's say this snowboarding instructor has a ton of blog posts and maybe some videos and maybe some podcast episodes talking about snowboarding, all kinds of Things like how to buy a snowboard and how to buy boots and how to get on the lift and how to find the best terrain on every mountain across the world. They wrote and they created all this great content, but now they can take the transcriptions of that content or the text versions of that content, upload it to OpenAI's assistant API. And now it's part of its knowledge, meaning it learns everything you give it and it becomes an expert at snowboarding. You can then create this ChatGPT version, put it in a Chatbot interface and pop it on your website, or pop it in your membership area, or offer it as a product so your customers can chat with an expert, a real intelligent expert. This could be a great way for them to get some advice, some coaching, or it could just be used for customer support, where you feed it all your support articles. And because it's a generative AI, it's not only learning the information, just spitting it back, it can answer follow up questions, it can improve upon its delivery and the content. So there's endless opportunities here where you can create your own little artificial intelligence chatbot for your business. So how is this done? Well, you have to be subscribed to ChatGPT plus, or what's called ChatGPT Four. It's $20 a month, chump change for what you're doing here. And you'll have access to the interface, you'll be able to create this for yourself. You'll have access to the Assistant API so that you can do this inside of Jet GPT. They just combine a whole bunch of stuff, which makes it incredible, which is they can read text, they could read the Internet, it could listen and you could upload audio files. It can even generate images using Dolly, their image creator. Now how do you actually practically get this done? Well, there are some technical bits that you're going to need to do to be able to generate your very own ChatGPT and then have some code to pop on your website and have an actual chatbot. But it's not that hard. It's actually something quite simple and you can outsource it, go to upwork and ask somebody to do it. And it's not going to cost too much because it's actually not a lot of work. Basically you're going to customize your ChatGPT using the Assistant API, and then you're going to use some sort of chatbot interface, the actual ui. And one that I recommend is called the Voice Flow, which basically allows you to take the data or the programming language of ChatGPT and put it into an interface that people can see and hear and kind of chat and put messages in. Because ChatGPT kind of lives in ChatGPT. You want to pull it out and use it on your website. And voiceflow allows you to do that. Super simple. And it just connects with your API with ChatGPT and then you can embed Voice flows Chatbot with now integrated with your ChatGPT on your website, inside your membership area, whatever you like. Again, if you're not techie, if this is all sounding weird and hard to understand, don't worry about it. All you need to know is that this is possible. You can make money off this and you can just get a programmer to do this for you in less than a day. Just go to upwork.com, post a job, say, hey, I want you to create an OpenAI Assistant API. I'll give you all the knowledge, all the documents, all the files that you could feed it and build it. I'll give you access to my ChatGPT account. You sign up for Voice Flow, give them access to that account and they will build the whole thing for you. And then they're going to give you some code. You can ask them to embed it in your website or you could do it yourself, you know how to do that and done deal. It's wherever you want it. And now you have this custom ChatGPT, this artificial intelligence that can help your customers. Now how would you incorporate this with your business? Well, it could be definitely an add on or something that you would include in your higher tiers of membership or plan. So say you're that snowboarding coach and you have a online course on how to get started with snowboarding. You could buy the course plus have the AI assistant coach you and answer any questions you might have. It's basically the coach themselves knowledge incorporated with the API to give them answers whenever they need. So basically they have open Q and A whenever they want. And you can include this on a page that only those higher tier members have access to. And of course you would embed that custom ChatGPT bot on that page that's secure for those higher members. How else can you monetize this? You can sell it as a standalone product, just hey, you want somebody to answer your questions about a certain topic, get unlimited answers for $10 a month. You can use it as a bot that you put on your website to answer any sales questions. You can even train the bot to close sales, to actually show them how to Sign up for your program, sign up for your software, sign up for your products or services. And of course, the obvious one is if you're in the services where you build people's websites, when you help people with any kind of service with their business, creating this chatbot for their business can be a huge, huge moneymaker where again, you can outsource the work, but you can charge the client a certain fee with some markup so that you can make money in the transaction. There's so much opportunity here for businesses, and it's very early right now. A lot of people have no idea what they just announced. And you could have a leg up on your competition by being first and actually training your bot very early on. So it could be quite intelligent by the time everybody kind of catches up. It's super exciting days in AI. It's moving very quickly. But OpenAI definitely trying to get it into everybody's hands as soon as possible because the more people use OpenAI, the smarter it gets, the better it gets. So your assignment today is to simply do one thing. Okay. Is to think about how would I use this new innovation? How would I leverage having my own AI bot on my website for my community, for my business? Is this something useful? Is this something my customers would actually want? Remember, this is actually quite intelligent. For example, if you're a yoga instructor that helps other yoga instructors build their own Yoga Studios with AI's image generator, you can actually help them create their own business logos where it generates a logo for their business right then and there in the chat interface. Crazy. There's so much opportunity. Give yourself time to think about what are the ways you can utilize this technology to bolster, to improve, to grow your business. That wraps up today's lesson. But today's episode is not over. It's Free Ride Friday. Let's see who won this week's free ride. And the winner is. Jay Nelly, 76. That's the handle on Apple podcasts. Jay Nelly says great show. Five stars. One of the best shows if you're looking for tactical knowledge. Thanks, Jaynelli, for that great review. Your mission is to email me over at omar@100nba.net so I can hook you up with the free ride to the hundred MBA program over at 100mba.net if you want to win a free ride, just leave us an Apple podcast rating and review and you enter our weekly random drop. Listen in on Friday just like right now to see if you want. It's that easy. Before I go, I want to leave you with this thousands and thousands of AI startups are really shaking right now. They had to pivot their business dramatically or went out of business. Why? Because OpenAI just put them out of business by creating custom ChatGPTs. So many AI businesses created these custom GPTs as products using the engine of ChatGPT in the background, whether that was an AI thing for customer service or for podcasting or for YouTube or whatever it might be. And now OpenAI just said, hey, everybody can create their own. Now, there's two lessons here. Number one, your market could change dramatically from one day to the next. This can happen, innovation happens, and things change quickly. So you got to be ready to pivot. Number two, you got to understand your industry. Maybe this is scary, but maybe it's not going to affect your business or affect your market, because your market's not willing to create their own chatgpt. Maybe they're like, they can't be bothered. They'll just pay you. That's okay. Maybe their audience is completely unaware of this announcement from OpenAI and they are not really interested in doing all this work. So the lesson here is be aware that you might have to change, pivot, improve, differentiate your business at any time in its journey, because things change in the market all the time, things you cannot predict sometimes. And that's what makes entrepreneurs so unique, because they're so adapted to solving problems on the fly. Thanks so much for listening, and I'll check you on Monday's episode. I'll see you then. Take care.