As of recently, ChatGPT, an AI chat interface by OpenAI, has really been popping off. It got one million users in just the first week. ChatGPT is truly an incredible piece of technology whether you use it for coding or writing essays. But can we do more with this? Can we use this to make money? Today we will be discussing the top 5 ways you can make money using ChatGPT.
1. Copywriting
ChatGPT is a great tool to use for copywriting. For those who don't know, copywriting is basically writing text that convinces a customer to purchase a product or service. For example, if you see an advertisement or the landing page of a website, you will notice copy, words that will try to convince you to do something. Copywriting is an incredibly easy skill to monetize. But with ChatGPT, you don't even need to know it that well to monetize it. If you have a product or website, you can simply ask ChatGPT to write copy for it. Or you can start your own copywriting agency and produce copy for clients. Dan Lok, a successful businessman once said, "Once you can write quality copy, you will never need to financially worry again."
2. Summarizing App
This one may be a bit harder, for it requires a little coding knowledge. But imagine creating an app with the ChatGPT API that summarizes pretty much any topic you ask in just 3 or 4 sentences. This could honestly be quite revolutionary. Yes, there is Google, but a short and sweetened summary of a topic might be preferable to scouring through web pages. Though this may be a bit harder than some of the other examples covered in this blog, it has the potential to make thousands if not hundreds of thousands of dollars.
3. Business Names
This may be the easiest way to make money that we will cover in this article. There are websites that pay you for naming businesses. One of these is namingforce.com, which holds contests for the best names for a certain business. So what you can do is use ChatGPT to generate a name for that business. And if you win, you earn hundreds of dollars per contest. Below, I made ChatGPT generate names for a toy business and it does quite an exceptional job.
4. Writing
The next way is to write an e-book with ChatGPT. Just ask ChatGPT to write you a book on a topic you know. You can then sell these E-books online. But of course, it doesn't just have to be E-books. Some good platforms to sell these on, are Gumroad and LearnPub. But of course, it doesn't just have to be E-books. It can also include poems, research papers, articles, movie scripts, and much more. Listverse.com is a good website where you can submit articles and research papers.
5. Mental Health Chatbots
These days, mental health has started to become a bigger and bigger issue. ChatGPT is actually quite good at consulting as shown below. You can use the ChatGPT API to code a mental health bot that consults users. I recommend creating a website where users can be consulted by the mental health chatbot. You can monetize this by charging a monthly subscription to use the bot.
6. Generating Ideas
This may not directly give you money. But it certainly has the potential to make quite a bit of cash in the long run. Whether you are running a blog, a YouTube Channel, or a business you can certainly benefit from some of the ideas that ChatGPT has to offer. If you are running a YouTube channel, ChatGPT can literally write an entire video script for you. Below, I asked ChatGPT for a list of ideas for this blog. Many of which were actually pretty good.
7. AI Editor
So we all know about Grammarly a tool that fixes our grammar mistakes in real-time. But what if we could expand on this? What we could create is a tool with ChatGPT that not only gives grammar suggestions but also suggestions on what else we can write or on what should remove from our paper. Basically, an AI editor. I recommend that you offer some of the editor's features for free and charge money for the rest of them.
8. Code Generator
This by far may be the hardest way to make money with ChatGPT. But it has the potential to revolutionize the internet as we know it. It is no secret that ChatGPT is amazing at coding. Imagine building an app that generates code for any given prompt. Obviously, ChatGPT already does that, but imagine refining and perfecting it. Also, if it is fronted (UI or UX of an app) development imagine there is a visual of the generated code included. And you can edit the visual to your liking which will hence change the code as well. As of now nothing like this really exists so it can be a great business to start. Sure there are things like Figma and GitHub CoPilot but none of them are at quite the extent of this.
9. Blog
You can start a blog on any particular niche you want. Then you can have ChatGPT write you articles for it. This allows you to easily run a profitable website by putting in minimal work. To monetize it simply use Amazon's associate program or Google AdSense. But keep in mind that ChatGPT usually outputs small articles which can be detrimental to your site's success. So I would proofread and expand on what ChatGPT wrote. Either way, this can be quite a profitable way to use ChatGPT.
10. Freelancing
Go onto a freelance website like Fiverr or Upwork. ChatGPT will aid with almost any freelance project. You can make easy cash without it even being in your expertise. This is kind of a combination of some of the other methods of making money we discussed in this article. You can help clients with writing content, copywriting, proofreading, and more. The potential of ChatGPT in the freelance industry is endless.
11. Quora Affiliate Marketing
Just in case you live under a rock, Quora is a platform where anyone can ask whatever question they want and then have it answered. It has hundreds of millions of users which makes it very easy to advertise on. We could use this to our advantage. We can simply have ChatGPT answer some of the questions that are asked on the website. If you are registered in an affiliate program like Amazon Associates, you can simply have an affiliate link in your answer. For every person that clicks on and buys the product, you will make a small profit. For example, if someone asks "what are some good budget laptops to buy" You can simply have ChatGPT write about a few budget laptops and attach affiliate links to your response. It is really quite that simple.
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