This transcript was generated from the episode audio and may contain minor errors.
[Music]
AI tools like Chat GPT and so many others are exploding in popularity. I saw a study that said something like 35% of people are already using them at work. But what about for your side hustle? Can creating templates for these tools become a profitable income generating project, especially since so many people are using them at work? Well, in this episode, we're gonna explore the opportunities, challenges and potential pitfalls of this idea.
A listener has this idea. I actually think it's a great idea. So I'll just talk about some ways that she might be more successful in doing it. And it's not just for her. Other people can do this as well.
There's room for a lot of folks in this world just because, as noted, so many people are using AI tools in different ways. So can this be a profitable niche? I'm gonna go ahead and say yes, but how might you position these templates effectively? Gonna give you a couple tips that might be helpful. Well, I hope it'll be helpful, at least for somebody out there with this idea or who likes this idea.
Detailed question from our listener and my answer coming right up. [Music]
Hey, Chris, I'm Samantha. I've been exploring AI tools like Chat GPT and have noticed how a lot of people struggle to get the best results without a clear structure. I'm wondering if there's an opportunity to create and sell pre-made templates for specific use cases like marketing plans or customer service scripts. Do you think this could be a profitable hustle idea?
And if so, how would I market these templates to reach the right audience? [Music]
Okay, Samantha, as I mentioned, I definitely think this could be a profitable niche. I think people are looking for these things right now. I also think this is not the kind of business where you wanna spend six months or even three months making it. You wanna figure out what are the templates I can create in the next 30 days maximum and sell those templates.
And then when something changes, which is going to happen very soon because new models are coming out all the time, new language models are coming out. There are other tools. If you're doing graphics work, there are different platforms. If you're doing video, if you're doing music, just new stuff all the time. So the risk is that your templates, whatever it is you make, can become obsolete as the technology updates.
And that's okay, I just think you accept that risk. I think you just say, okay, this is not gonna be a business forever, but hopefully this is something that I can make and go to market with quickly. Now, how do you market those templates? As Samantha asked, very good question. Another thing to think about, you can't just think, is there a demand for it?
You have to think, where can I find those potential users? Because most people are probably not searching for AI templates. Creative market could be a good platform. Building a bit of a brand as a creator/educator where you're offering information for free, perhaps on LinkedIn. This could be a good lead generation source where every day you're posting a tip.
And then also on your LinkedIn page, it's like, hey, you can purchase this course or purchase these templates. It might be nice if people could purchase a package and you just updated the package periodically. That way you can mitigate the risk of obsolescence, at least somewhat. Let's see what else. I do think you should be cautious about pricing.
Templates are often priced between 10 to $50 each, but I would suggest you bundle them and offer add-ons like tutorials to increase perceived value. So for example, there's 10 marketing templates you can use with chat GPT or Claude or Gemini or another language model, plus a video guide for $75. And you could sell that on Gumroad. You could be ready to sell that within three days, actually, if you know a bit about this world. Your cost to make this kind of product is almost zero.
So you might actually be able to do some advertising. If you can sell something for $70 and it costs $50 to advertise, for example, then you're profitable at the $20 per unit sales price. And you can just kind of do that all day. So I do think it is a promising market with growing demand. Focus on those high impact use cases, make your templates actionable and get to work.
Don't wait too long. Don't wait too long. Listeners, let me know what you think. If you have an idea, sidehustleschool.com/questions. We'll be featuring them throughout the year, along with updates from other listeners as they launch and grow their projects.
Thanks so much for being out there. My name is Chris Guillebeau. This is "Side Hustle School." [Music]
- From the Onward Project.
