Unleashing the Power of AI: Revolutionizing Business Strategies

0:00This is the best assistant that you could ever imagine to have. How much more successful would you be if you had lunch once a week with insanely successful entrepreneurs who share their biggest secrets on how they think and achieve success? Grab your seat at the table because this is Business Lunch with Roland Frazier and Ryan Dice.

0:24Welcome to another episode of Business Lunch. And today's a snackable episode with Roland where he's going to get into some more tactical strategies that you can start using to live a rich and happy life. If this is the first snackable episode you're hearing, I'd encourage you to go back and listen to some of the other episodes that Roland has put out. And if you want to get notified every time we release a new episode, go to the new businesslunchpodcast.com website, and we'll send you detailed notes along with every episode. That's businesslunchpodcast.com, www.businesslunchpodcast.com. And you can sign up for the free email newsletter where you'll be able to get all the highlights and resources from the episodes.

0:59Is there anybody that feels like they don't have the knowledge, skills, experience, or connections to be able to deliver on consulting. Okay. One honest person in the room. Thank you. And then a half, a little kind of quasi-honest person. Okay. So I just want, this is hard to read, so I'm going to read it for you guys that are a little bit out of sight. But this is chat GPT. So how many of you are aware of what ChatGPT is? Leave your hands up. And if you have used ChatGPT, okay, and have you used ChatGPT to make money? Nice, a few people. Okay, great. So ChatGPT is basically a natural language chatbot that accesses a database from a company called OpenAI that Microsoft has invested heavily in that allows you to use natural language to get artificially intelligent results from an internet, about 10 % of the internet that was scanned effective as of, I think it was April of 2021.

2:05It accesses a database to do this, and you can do all kinds of crazy cool things with it. I just want to help you see that using something like this can give you everything that you need to be able to be super smart in the eyes of the people that you're doing consulting for across whatever you might consult on. Now you can go as deep down the rabbit hole of this as you want. We're creating apps where GPT, which is what this is accessing to get its answers, will create Python code that then allows us to create our own apps. We're doing integrations with Zapier where emails that come into my email that have the subject line across a particular type of business like DM agency buy will automatically be sucked into chat GPT.

2:58It will create three responses for me and place those three drafts in the draft of my Gmail ready to go out, right? It will intelligently compose the responses automatically, and I can do that across 50 different verticals that I'm inquiring on. Now, that's the more advanced application of it. But even the dead, stupid, easy ones, for you to think about the value you can add, this is the best assistant that you could ever imagine to have. So I'm just going to show you some of the prompts that you can put in to get great responses. So I said, write me a simple outline for a private chef business with steps.

3:36The name of the business is ChefWorks, and they're currently generating$100 ,000 annual revenue, looking to reach a million in revenue. It creates the summary for us. Introduction of ChefWorks, stated goal of reaching a million, market analysis, research the private chef industry, and identify the target market. Now, I can take each of these bullet points, and this question that I ask is called a prompt. You can chain prompts. It's called prompt chaining so that it refers back to the last answer that you got. The AI remembers the last answer that you've got, so you can continue to interview it as you go along.

4:10The better interviewer you are, they call these prompt engineers, the more you will get from this program, right? So I can go back not knowing anything about a private chef business, but if I wanted to have equity in one of those, I could create a business plan knowing that I was getting ready to go in the meeting like that Jalitza and Adam were having earlier, and I can have crazy deep knowledge about the industry, okay? I can also get really deep knowledge about my target. So market analysis, research private chef industry, and identify a target market. That's the first bullet point. I could just highlight that, paste it in, and for each of these, get super, super deep dives on each point.

4:51And it says service and pricing, outline the services, determine the pricing, marketing and sales, develop a marketing strategy, et cetera. Now, it gives me a lot of stuff. I can then also pick methodologies. So maybe you are a fan of the lean startup methodology. So I can say using the lean startup methodology framework, please write a business plan outline that involves rapid experimentation iteration to find a scalable business model for a meditation app that will appeal to people experiencing stress who wanna learn to relax and reduce it, describe the steps you would take to validate your assumptions, gather feedback.

5:22So now it's telling me exactly what I need to do for customer discovery. So imagine that you were consulting with someone who had a meditation app and you wanted to get equity in that and you didn't know that much about the app market, right? Well, then you can put this in and find out, well, first we need to understand, and this is within the lean startup framework. You can pick any framework that you want. That's what's really cool. So a lot of people are playing with it saying, write like a pirate. That's fun, but it's probably not going to make you a ton of money, right? Okay, unless you're Johnny Depp.

5:52So it says, understand the problem. What's the minimum viable product? Develop a minimum viable product, an MVP of the meditation app that addresses the identified problem and customer needs. So I would identify my customer needs by asking ChatGPT to tell me what the customer needs are. Or I might ask ChatGPT to be a person who is currently stressed out and unaware of meditation as a solution and tell me what it feels like to be that person. And it will do that. So that it will then, I did that, my wife suffers from chronic heartburn because of an operation that she had. And I asked it so that I could empathize with what she is dealing with to be a chronic heartburn sufferer.

6:38And I said, what is it like? How do you feel? What do you want? And it came back and said, I'm constantly worried about what I'm going to eat. The problem is, is I have no idea what type of food is going to trigger the heartburn. Sometimes it's one food and sometimes that same food doesn't do that. I'm worried about esophageal cancer. It just gives me all the things that it, as a sufferer, would be thinking about. So I could take that and then create, if I was catering to that market, a total sales letter and I could say, give me all of those, create a sales letter or a landing page, as you'll see in a second, around all of those things.

7:19Rather than doing what several marketers will tell you to do and going out and scraping the Amazon reviews and trying to figure out what are the things that people like or don't like, I'll say act as an Amazon review analyzer, review the Amazon reviews, and tell me the top 10 things that people who give one-star reviews dislike about massage therapy guns, and the top 10 things that five-star reviews like about them. It will give me all those, and then I can say create a sales letter based on the likes and dislikes, and it will do that. And then I can say, create a story, an allegorical story about two people, one who suffers from, both who suffer from back pain, one who uses a massage therapy gun and one who does not use a massage therapy gun, and write me a story with two fictitious people, one who uses it and one who doesn't.

8:11And it will do that. And then I can say, incorporate the things that were good and bad from the Amazon reviews into the sales letter, and it will do that. And then I can say, create me a list of eight testimonials from people who bought the product, the fictitious product that is now a massage therapy gun that incorporates all of the benefits and overcomes all the objections, and it will do that, right? And then I can send my customers who are saying, I'm happy to write a testimonial. Just send me what you want me to say. How many times have you heard that, right? A lot of times it's like, I don't know what to write.

8:42And you feel bad writing it because you're like, Roland is awesome. Not only handsome and good looking, but awesome. And come on, You feel weird doing that. You say, hey, I just throw this in the chat, GPT. Here's 10 testimonials. If any of these resonate with you, just pick that one. Right? Pretty cool. So all of that can be done. And it just solves, to me, the challenge of feeling like you're unprepared to go into a consultation. So if you don't know something about something, run it through chat GPT, which is free, by the way, right now. And you can figure that out. So I can do this across anything.

9:20So here's a prompt that says, write a plan using the AARRR, which is called Pirate Metrics Framework, containing the key stages of the customer journey, which goes into acquisition, activation, retention, monetization, et cetera. So I can use all these business models, the growth flywheel method. And you can see it's giving me responses. Use the growth hacking canvas. And I could put in different business models using the bullseye framework to get how would across all the major 22 business models, would I create a marketing plan for my meditation app prior to going into the meeting with my meditation app client?

9:55This will all take about 15 minutes. I created a 13-page long-form sales letter for a marriage retreat for somebody that was in our founders board, mastermind, in about 18 minutes, complete with testimonials and benefits and an entire course outline for the retreat based on overcoming the 15 most common causes of divorce and marital discord, which it picked out for me and then wrote me what each of those things would be in terms of a live event. And then I pasted all that together. I created on Christmas Eve, because I was kind of bored, I was like, could I use this to create a course about artificial intelligence.

10:40So I had ChatGPT create a course about artificial intelligence. I then said, write a sales letter, write a landing page, write a series of emails, write a sequence of follow-up emails for people that visit but don't buy. And I put it out and I made 250 grand in five days. Selling. It's for real. So this is, to me, as big a thing as the invention of the machine in the industrial economy. This is a game changer for all of us. It will uproot lots and lots of people. It will cause people to lose jobs. It will cause people to get jobs. It's like any great discovery. But to me, this is freaking magic.

11:24I would also recommend that you sign up to be, while it is free, because I don't know if they'll start charging for it or not, but if they do, it probably won't be a lot, to the underlying engine that runs ChatGPT, which is GPT. You just get there through openai.com. And that will allow you to get an API key. With an API key, you can use Zapier to do all kinds of cool things so that any Excel programs will send prompts when you put something new in about a list of ideas you want to do and give you all kinds of feedback about them or headlines or scroll stopping, attention grabbing, TikTok video headlines.

11:59All of that kind of stuff can be done. That's just marketing, right? It will also write job descriptions for you. It will set an organizational chart for your company. It will create a compensation structure on two tiers using the reverse Lehman mechanism of creating commissions. It'll do pretty much anything you want because it knows everything, right? Well, it knows 10 % of what's on the Internet, and it skipped sex, so it's got everything that's on the Internet, okay?

12:29So let me jump down to just some other things to show you because I was playing with all the different business models. I'm running a business meditation, I'm running a meditation business, and I need to know my ideal customer. Write three to five customer personas. To me, this is pretty cool, because you're always told to write customer personas, but how many of us actually take the time to do it? You're always told to write 25 headlines and test them, but how many of us actually do it? Because it's a pain in the ass. But this will do it automatically, and if you use the API, you can have it suck the results into your CRM and run those automatically, which is pretty cool.

13:03So look, customer personas, without any more information than I'm running a meditation business, I need to know my ideal customer, write me three to five personas. Stressful Susan is a 35-year-old working professional who's feeling overwhelmed by stress from her job and personal life. She's looking for a way to relax and reduce her stress level. She's most likely to be reached through social media platforms such as LinkedIn and Facebook in particular, and is open to trying out different meditation techniques such as guided meditation, mindfulness meditation, and yoga. She's also likely to be interested in wellness and self-care products.

13:32That's a lot of targeting information for that persona. Then we have Anxious Andrew, who's a 25-year-old college student struggling with anxiety and difficulty sleeping, or Mindful Mary, or Busy Bob. And this is a magic thing to know because they are stingy with their processing power right now, so they may cut you off. All you have to do is say complete the above. And it's like meditation, Mira's a 30, complete the above. She's a 30-year-old stay-at-home mom who's looking for a way to improve her marital well-being and find some time for herself most likely to be reached through parenting and lifestyle blogs.

14:09That's different than the other one who's reached through LinkedIn. So we can create these personas and know who we're speaking to and then have GPT automatically create sales letters and sales and marketing messages to all of these people. It can create products for them. It can create product descriptions for them, product listings, AdWords ads, all of those things, right? So I took Mira and started asking some deeper questions. I said, so Meditate Mira is a 30-year-old stay-at-home mom looking for a way to improve her mental well-being, find some time for herself, most likely reached through parenting and lifestyle blogs, social media platforms such as Facebook and Pinterest.

14:44Ooh, that's, you wouldn't think about that, right? She is open to trying out different meditation techniques. Now we hear what the personalized ads can go towards. Guided meditation, mindfulness, mindfulness-based stress reduction. Also interested about learning the benefits of meditation for mothers and children. Great. Well, then write me a landing page designed to address Meditate Mira, because I can refer to what it did before. It remembers, right? Like Pepperidge Farm remembers. It's a landing page designed to address Meditate Mira customer persona above to persuade her to purchase a subscription to a meditation app that will help her achieve her objectives identified above.

15:19On the landing page, provide 12 bullet points addressing specific benefits a customer like MeditateMira might want to achieve from purchasing the meditation app, and also create a list of seven bullet points addressing and overcoming specific objections that a customer like Mira might have that could prevent her from purchasing the app. No problem. Welcome to the meditation app designed specifically for busy moms like you. Are you looking for a way to improve your mental well-being and find some time for yourself? Our app offers a variety of guided meditations, mindfulness exercises, et cetera, et cetera.

15:48With our app, you can do all of these things that it knows that Mira's persona cares about, right? Not only that, we understand that you may have some concerns about purchasing a meditation app. Here's a few things that might be on your mind and how we address them. I don't have time to meditate. No worries. Our app offers short and long meditations that can fit into any schedule, even if you have just a few minutes to spare. I've tried meditation before and it didn't work for me. Our app offers a variety of techniques and exercises that can help you find the one that works best for you, et cetera, et cetera, et cetera, et cetera.

16:19Right? Freaking awesome. Right? You want to create the app? You do a consult for 25K and somebody says, or 100K, if you're Neo, and somebody says, I want to create a meditation app. And you're like, okay, let's, let me see. I mean, I thought about it a little bit. And what I would do is I would have three customer personas. Here's what I'd probably call them. Here's mostly the challenges that each of those would have. If I was going to advertise for those, I would advertise on these different platforms for each of these different personas. What I would talk about for each of these personas is offering benefits that do this.

16:51What the meditation app ought to do is have these 12 things that are good, and you're going to want to overcome these objections, so we're going to have to talk about that. Do you sound smart? You sound smart, because you are, right? Okay, so continue the above. Write a comprehensive 4 ,000-character letter outlining a marketing campaign that uses the ladder of inference to better understand the thought processes to meditate, mirror a customer persona above, identify potential barriers to conversion, consider the assumptions and beliefs that may influence, blah, blah, blah. It does that. No problem.

17:25Write a white paper outlining a marketing campaign that maps out the customer journey for Meditate Mira, because we should have a customer journey for each of these people, and creates a tailored messaging and offers for each stage. Identify the touch points and emotional states that occur at each stage and create messaging and offers that align with these also consider the role of customer feedback and how it can be used to improve the journey. And it goes on and gives me the complete customer journey. Okay. Continue the above. I'm looking for cold DM idea that will showcase the unique features and benefits of my meditation app to meditate Mira in a clear and compelling way.

17:58Here's a cold email, right? It writes the whole email for me, including warm regards and a PS. I'm looking for cold direct message marketing campaign idea to use direct messages on LinkedIn to LinkedIn connections that will engage my MeditateMira customer persona with a unique and exclusive offer and persuade MeditateMira to take or purchase our meditation app or sign up for a free trial or other creative compelling offer with a sense of urgency and exclusivity. Provide me with five different marketing campaign ideas. Unlock the secret to inner peace with our exclusive LinkedIn offer. In this campaign, you can send a direct message to your LinkedIn connections that highlights the exclusive offer of a discounted subscription with a free trial.

18:39You can create a sense of urgency by including a limited time offer, such as a one-time use code or a deadline. Join our VIP community and experience the benefits of meditation. So on, so on, so on, so on, right? There isn't anything that you can't do with this if you can ask the right questions, which is kind of what the rule is in life, right? So I just wanted to share with you, complete the above, if there's anything else. Please write 10 email subject lines to use in a counterintuitive approach to grab the attention of meditate mirror. Why less is more when it comes to meditation. The surprising reason why you don't need to meditate for hours.

19:14The truth about multitasking and meditation. Why you don't need to clear your mind to meditate. Counterintuitive things that will grab their attention because we're going against the crowd, right? Again, you just have to know to ask the questions. So I just wanted to share a few things. There is a complete process for doing this. I did create the course on it. The course is actually pretty great, and a lot of people have been using it. So I want to do two things. One, for everybody, I want you to know that you can do this stuff. For all of you guys that are in Epic Board already or have just joined, the AI course is yours.

19:53It's part of your membership, so you'll have access to that. But if you guys are thinking about where you want to get the biggest movement in all of the things that you acquire, in your consults, all of that stuff, the GPT engine, chat GPT to start, but then you'll eventually rabbit hole down to the API key, and then you'll eventually rabbit hole down to Python. I don't speak Python, but I can code Python now. I can translate my Python into C++. I can translate all of my offers and letters and customer support into Spanish, French, and other languages, and it's a pretty damn good translation. I can receive customer support questions in Japanese and answer in English and respond in Japanese, right?

20:44I can automate all of that. I can create a chatbot that automates all of my customer service and does that. You can really accomplish almost anything. So I wanted to give you that outline and I wanted to, as a gift, give all of you guys that are in Epic Board and coming into Epic Board this tool because it's absolutely fantastic and we'll continue to go down that rabbit hole. There is an entirely different engine called Dolly2, which does the same thing that ChatGPT does with text, with images, and creates ridiculous images. When you get into it, the quality of the logos you can do is amazing.

21:26There are complete apps like Tome that will allow you to go into ChatGPT and say, create me a course on, let's say that you wanted to make money, and you wanted to get yourself out there as an expert in a, I don't know, how to play harmonica, right? So I can go into chat GPT and say, well, first I would go to Udemy and Thinkific and Teachable and Kajabi, and I would find the most popular courses with the most number of students in how to play harmonica. Then I would, or I might just look generally and see what are the most popular programs to find out those, then I would say, okay, I'm going to create a course around that because that's a very popular trending thing right now.

22:09So then let's say it's how to play harmonica. So then I'm going to put how to, how do you write me a course in how to play harmonica into chat GPT? It would create the course and then I would go over to Tome and I would paste that in and Tome would create me a complete slideshow with images and text that I could then make my course. I could even go into another program like Parrot from Amazon and have that become an audio narrated thing. Or I could go to Synthesia and have an automated and have an actual real life person present the program that I had written in their language from any ethnicity and none of that would I have to do myself.

22:50It's amazing what you have the power to do. So, you know, we're just on the cusp of this. we are about they're about to release chat to release gpt4 which will be the next evolution which they say is exponentially more intelligent than this one but this one's pretty daggone good so i just wanted to share it with you i hope that you found it helpful love to have discussion about that stuff but to me it's ridiculously powerful you

23:27Hey, Roland Frazier here. If you're looking for a way to grow your business exponentially, to get more customers and ultimately increase your wealth, there's no faster way to do it than to acquire other businesses that already have the customers, products, services, teams, and media that you want. If you want to double your sales, just acquire a company that has the same sales as yours. It sounds simple, but far too many people end up starting new businesses that fail and forget that they could skip all the hard stuff and just acquire one that already exists. There's a reason why private equity firms, family offices, big companies like Apple, Google, and some of the smartest entrepreneurs on the planet do not start new businesses from scratch.

24:10They acquire already successful businesses. And when they do it, they instantly increase their sales, their profits. If they want market share, they increase that. They can get new products and services to offer all instantly. Hey, look, 90 % of new businesses fail. 90%. Why not acquire an already successful business and increase your chances of success by 900 %? What most people don't realize is you can acquire highly profitable businesses with no money out of your own pocket in pretty much any country in the world, regardless of your credit and without having to go find a bunch of investors or needing any experience.

24:46Look, I've been acquiring businesses for over 30 years now, and I cover the whole process in my Epic Investing Strategy Training, and I want to give it to you 100 % free. Just visit businesslunchpodcast.com forward slash epic to get your free access to my Epic Investing Training right now while it's available.