If you’re employed, there are just a few ways you can make money. Ask for a raise, start a side hustle, work more hours or get a new job. If you’re self-employed, there are many more. Improve your conversion rates, boost your staff productivity, expand into new markets, reduce your cost per lead, increase your prices, add an upsell and cut costs, to name but a few. But which moves forward are right for your business?
ChatGPT can help you find ways of making more money. Even better, it can help you confirm what you already suspected you should do. When you’re prompting it in this way, think of it less as your personal AI business coach and more of a talking journal. It’s going to suggest answers that you can agree or disagree with, it’s going to force you to reflect. This is a valuable thought process for an ambitious entrepreneur to go through.
How can ChatGPT help you increase revenue?
Better leverage your expertise
Chances are, your unique skills and qualities are not being fully utilized. Maybe you already know this. Perhaps you’re scared to leave your comfort zone or you have people around you keeping you playing small. ChatGPT won’t put you in a box. Tell it what you’re good at and don’t be shy. Ask it how you could better apply your strengths, and see what it recommends.
Spot gaps in your market
If you’ve been doing the same thing for a long time, you might be missing a trick. Your business might be susceptible to disruption by others entering your market and finding the gaps that passed you by. These gaps are yours for the taking, you might just need them pointing out. Enter ChatGPT. Explain your market and what you do. Tell it about the lay of the land and how you currently make money within your niche. Find its ideas for tricks to try.
Find new opportunities
Beyond your existing business, what are the new opportunities you could explore? Perhaps it’s entering an entirely new market, trusting a team member to take a different direction, or revisiting something that didn’t work in the past. Old methods might now work, or the world might now be ready for your visionary plans. Prompt your favorite large language model to receive the suggestions that could make the difference.
Make more audacious requests
If you knew your every wish would be granted, what would you request? Whose door would you knock, what would you ask for, which metaphorical rings would you throw your hat into? ChatGPT can help you make the audacious asks that could change your game. Tell it about your world and explain your fears. Ask it to act like someone who wasn’t afraid. Prompt it for a ballsy plan and get all the steps to see it through.
How to prompt ChatGPT to make more money
With every area for exploration, set the scene with this intro. Copy and paste into ChatGPT and edit the square brackets with your information:
“I want to explore ways to make more money, specifically by [better leveraging my skills, spotting gaps in my market, finding new opportunities, making bigger requests]. Here’s some information about me: I have a background in [mention relevant skills or industries], with [number] years of experience in [explain specific roles or projects]. I’m passionate about [mention specific interests or fields] and my current business [explain what you do within your business, and who it serves]. I’m looking for suggestions where I can leverage my expertise and interests to achieve success. Can you act as a successful business mentor and give me options for possibilities to explore?”
You don’t know what you don’t know. You could ask someone you trust for advice, but they might be biased. You could reflect on your own, but you might benefit from another voice. Without spending thousands on a coach, or losing hours reading books and listening to podcasts, get the ideas and guidance right away so you can make an assessment and change course accordingly. While ChatGPT can’t do the work for you, it can set you on the right track to making more money.