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Your AI Business Plan
Take advantage of new markets, but remember, business principles remain the same.
I’m talking to many young creators who are hustling on social media every day to build a business in the field of AI. However, business principles remain the same, whether you’re a gold or crypto miner. So, let’s go over a few crucial lessons I’ve learned over the years.
A lot of AI creators are busy building an audience on social media, but sometimes it is a little unclear what they act
ually do. There are many ways to take advantage of new markets, and most people will have to choose one over the other. Staying in the space of AI, the opportunities for profit could look like this:
1. Software as a Service (SaaS)
You are trying to build something — an app, software, or any kind of product — taking advantage of AI models. You are in direct competition with the big AI companies, as they could introduce a feature tomorrow that makes your product obsolete. However, if successful, the rewards will be worth the hard work.
2. Implementation of AI Products
You might not want to build something, but you can effectively implement all the new AI tools. Companies can approach you to solve their problems, implement AI training tools for their employees, customer service agents, or use AI in any capacity. You will be hands-on, working with clients to build their solutions using the products of others.
3. Strategy and Consulting
If you don’t want to build anything or implement solutions, but you have in-depth knowledge about AI and the people in the space, you can offer overall strategies, create a concept of which tools to use, and suggest who can implement them.
If you’re reading this and consistently engage with AI topics every day, chances are you possess more knowledge about this subject than 99% of the people out there. Don’t underestimate the value of your skills.
4. Utilizing AI Yourself
Instead of helping other people use AI, you can use it to create your own business — a business that has nothing to do with AI itself, but leverages your knowledge to beat the competition.
You can use AI to build websites, online shops, create wedding invitations, design t-shirts and stickers, sell image generation services, and have Language Models help you create content that others are willing to pay for.
In short, you’re doing what people did before the advent of AI — you are not just the AI guy but also a designer, artist, marketer, webmaster, storyteller, animator, supercharged with the help of neural networks.
Focus, Scalability And Automation
I see a lot of people excited about AI, trying to do everything and all at once, seizing every opportunity that comes their way. However, by doing this, you will most likely exhaust yourself, waste a lot of time, and never truly compete with the best in your field.
You cannot reinvent yourself for every single client repeatedly, learning entirely new skills each time the phone rings. Even if it’s within your capability, it will take time, and it’s time you’re not really getting paid for. Successful businesses narrow down what they are actually doing. They offer a one-size-fits-all solution, and if the client doesn’t like it, they can go somewhere else.
Focus on one thing you can do better than anyone else, and that’s what you should offer. This way, you don’t have to reinvent your whole approach; in fact, you are selling the same solution to all your clients. This is the only way you can start to scale, automate, and hire employees.
Don’t Just Build An Audience, Target The Right People
The most effective way to sell anything is to paint a clear picture for your potential customer. How do they look, where do they work, what do they need? Consequently, you want to target the right people.
Many young entrepreneurs make the mistake of marketing to anyone and everyone, including the wrong people. If you build your audience by connecting with other AI experts for example but actually sell a product meant for regular consumers, your network won’t be of much help.
Unless your products and services are actually intended for other AI experts and marketers, the audience you build will not be interested in what you offer.
When building a product for the average person, you have to communicate and market to them. At some point, you have to decide: Do you want to stay in the AI space and offer your help to other creators, or do you want to reach the millions of consumers out there? You have to be clear about this every time you press the post button: Who is this content ultimately designed for?