Why should this concern you?
Gen Z and Millennial professionals, in particular, have set their sights on establishing career stability and financial freedom, particularly for this new year. The threats posed by the cost of living crisis and job insecurity, and the desire to advance their careers and establish relevant thought leadership, has led the younger workforce to seek out side hustles. Additionally, AI, and particularly generative AI, is a critical skill for young professionals who desire to stand out in a competitive job market. In fact, the number of LinkedIn job postings citing generative AI or ChatGPT as a desired skill has sharply increased over 2023.Now imagine what you can accomplish as a young professional with a combination of GPT skills and building a side hustle that generates passive income? Imagine the boost it can provide to your career!
With the new GPT store, it will allow creators to create, monetize, and share their customized GPT creations with the world, much like an app marketplace. Think of it like the App Store for Apple, or Google Play Store for Google apps, only this one will be the AI store for GPTs.
How Can Anyone Create A GPT?
Well, the answer to that question lies in first answering an initial question: What is a GPT? GPT means Generative Pre-Trained Transformer. It's part of the foundational language model used to train applications and chatbots such as ChatGPT to perform human-like tasks for humans, such as interpreting text, generating feedback, and answering questions in a conversational way.
ChatGPT has the facility for you to take their GPT and customize it to perform a range of personal tasks to help you at work and in your business. Currently, this option is only available to ChatGPT Plus and Enterprise users, but what that means is that if you are on the free subscription but decide to switch to a ChatGPT Plus or enterprise user, you can create a GPT and sell it on their new app store this week—and in the future.
How Much Money Can I Make From My GPT Creation?
At the time of writing, OpenAI has not yet provided specific guidelines as to how much passive income a developer can expect to make as profit once the store is launched, or what percentage OpenAI will take as a cut from profits. However, this endeavor is certainly worth the attempt, particularly as this provides an enormous opportunity for non-tech professionals to expand their creativity and prompting skills, which can be particularly useful for career progression and considerations for pay raises in this new year.
You should also bear in mind that the GPT store will most likely have a wave of hundreds if not thousands of new developers, all vying for customers in the GPT marketplace. Therefore you shouldn't depend on the store alone to generate traffic or earn money. Think outside the box.
To take it even further and increase your chances of making higher profits, share your GPT creation outside of the GPT store. Promote it across your social media accounts, on your website, and embed it as a hyperlink into your blogs or via email marketing campaigns. If you already have a side hustle or main business (for example as a consultant), think about creating a customized GPT that adds value to your existing and potential customers, offering them quick solutions, especially if your main service is rather pricey.
You can use it as a funnel to create traction and capture initial customers for a low-value version of your service, and then generate interest in your other services or products.