Maximizing Earnings in 2024 with ChatGPT's GPT Store

ChatGPT is set to launch its first GPT Store this week, providing significant opportunities for aspiring and existing part-time entrepreneurs. OpenAI announced in early 2024 that its GPT Store would be launched in the week starting January 7th, marking the first introduction of such a store. Originally planned for a later release in 2023, the launch was postponed.

Why is this important for you?

Especially for professionals of Generation Z and Millennials, there is a focus on establishing career stability and financial freedom, particularly in the new year. The threats posed by the cost of living crisis and job insecurity, coupled with the desire to enhance one’s career and build thought leadership, drive the younger workforce to seek part-time opportunities. Additionally, artificial intelligence, particularly generative AI like ChatGPT, is a crucial skill for young professionals looking to stand out in the competitive job market. In fact, the number of job postings on LinkedIn mentioning generative AI or ChatGPT as desired skills sharply increased in 2023.

Now, imagine as a young professional, combining GPT skills and building a side hustle for passive income. Consider the achievements it could bring to your career.

With the new GPT Store, it allows creators to build, monetize, and share their customized GPT creations with the world, similar to app marketplaces. Think of it as Apple’s App Store or Google’s Google Play Store, but for GPT AI.

How to create a GPT?

The first question to answer is: What is GPT? GPT stands for Generative Pre-trained Transformer. It is part of the foundational language model used to train applications and chatbots (like ChatGPT) to perform human-like tasks such as interpreting text, generating feedback, and answering questions in a conversational manner. ChatGPT provides a feature that allows you to take control of their GPT and customize it to perform a range of personal tasks to help you in your work and business. Currently, this option is only available for ChatGPT Plus and enterprise users. However, if you are on a free subscription but decide to switch to ChatGPT Plus or enterprise, you can create a GPT in their new app store and sell it this week and in the future. To build your own GPT, follow these eight simple steps:

• Open your OpenAI account.
• After logging in, go to the GPT Builder on the platform.
• First, consider daily problems you want to solve in your own life or work. Others in your position likely have similar issues!
• To customize your GPT, make it user-friendly. Follow on-screen instructions to give it a suitable name, photo, and description. Define natural language prompts for the actions you want it to perform, and most importantly, use high-quality, unique, and reliable data sources so it can obtain relevant information.
• Continuously learn and adjust until it provides the desired outputs.
• According to the OpenAI team: “Review our updated usage policies and GPT branding guide to ensure your GPT is compliant.”
• Verify your Builder profile (Settings > Builder Profile > Enable your name or verified website).
• Publish your GPT as “Public” (GPTs selected as “Anyone with the link can use” won’t appear in the store).

How much money can I earn from my GPT creations?

As of writing this article, OpenAI has not provided specific guidance on how much passive income developers can expect once the store launches or what percentage OpenAI will take from profits. However, this endeavor is definitely worth trying, especially as it offers a massive opportunity for non-technical professionals to expand their creativity and prompting skills, which can be particularly useful for career advancement and considering a raise in the new year. Keep in mind that the GPT Store is likely to see hundreds or thousands of new developers entering, all competing for customers in the GPT market. Therefore, relying solely on the store to attract traffic or earn money is not advisable. Think outside the box.

To further increase profit opportunities, in addition to the GPT Store, share your GPT creations. Advertise it on your social media accounts, website, and embed it as a hyperlink in your blog or through email marketing campaigns. If you already have a part-time or primary business (such as consulting), consider creating a customized GPT to provide quick solutions for your existing and potential clients, especially if your main services are relatively expensive. You can use it as a funnel to attract early customers with a low-cost version of the service and then generate interest in your other services or products. To get creative inspiration, create a custom GPT to answer the problems you face in your life or work, or use it to complement existing products and services.

So, you can see that earning money from launching GPT on the GPT Store is not limited to the daily traffic market. Be creative, find other ways to market your GPT, and let it work for you, leading to more complex, high-value services. How much can you earn from the ChatGPT GPT Store? The answer is: unlimited. GPT-3.5