Using ChatGPT to Earn Money from Home
So by now, I’m sure that you’re already aware of the potential of using an AI bot like ChatGPT to help you earn money from the comfort of your own home. Now, I’ve personally been using it for the past year and a half, maybe two years now, almost every single day, to help me with my online businesses in a number of different ways. In this article, I want to show you three different ways that you can start using it, even if you’re a complete beginner.
Creating a ChatGPT Account
One of the first things that you’re going to need to do is, of course, create a ChatGPT account. This is really easy to do, and you’re going to be able to do it for completely free. Just head over to OpenAI.com; it’s going to look something similar to this. It might change depending on when you’re reading this article, but what you’re going to do is just click on “Products” at the top, come over here to where it says “Pricing,” and you’re going to be able to create a free account by clicking on “Start Now.”
ChatGPT Interface and Functionality
Now, once you’ve logged in, this is what the ChatGPT interface is going to look like. For those of you that have been living under a rock and you’re not really sure exactly what ChatGPT is and how it works, it’s basically an AI bot that you’re going to be able to have a one-on-one conversation with. You’re going to be able to ask it any question in this box over here, and it’s essentially going to scan the internet and come up with an answer for whatever you asked it.
The Tip of the Iceberg: Using ChatGPT for Amazon Product Research
But what I just said now is the tip of the iceberg as to how you can use it. I’m going to break down different methods so that you have an understanding of how powerful this AI bot is when it comes to assisting you with earning money. One of the first methods that I’m going to show you is using ChatGPT to help you find winning products that you can sell on Amazon.
Using ChatGPT to Find Winning Products on Amazon
What you’re going to need to do, first and foremost, is enter a prompt or a question into this box. So, I’m just going to type in something like, “Can you tell me the 10 best products to sell on Amazon that meet the following criteria?” The first one is that it needs to be low cost but also have a high value. Number two is that it needs to be small and lightweight. Number three, it needs to sell all year round. And number four, it can’t be tapped and competitive because, of course, that’s going to be difficult to sell.
Researching and Sourcing Winning Products
So, I’m just going to type this in just like this. You can tailor it in any way that you want, and then what I’m going to do is click on “Send.” Okay, perfect. As you guys just saw, within a couple of seconds, it came back with all of these different winning products that I wouldn’t have been able to come up with myself, so it’s really helpful in that way.
Further Research on Product Viability
From here, you can now do further research to make sure that it’s definitely selling well, and you’re going to be able to source it. Of course, I’m going to show you exactly how you can do that. So, the different items that it came back with are things like portable cutlery sets, cable organizers, silicone travel bottles, and so on and so forth. But there’s this product over here that I’ve never seen or heard of before, reusable silicone food covers.
Using Helium 10 for Amazon Product Research
I’m going to use this one in this example, and for me to figure out if it’s definitely selling well on Amazon, the way that I’m going to do that is by copying the product title just like this. The way that you’re going to be able to do that is by using an Amazon product research tool. The best one that I know of is called Helium 10. It’s really easy to use, straightforward, and it’s going to let you know instantly if a product is worth selling or not.
Getting Started with Helium 10
I’m going to leave a direct sign-up link to Helium 10 in my description down below. Once you click that link, it’s going to take you to a page that looks like this. Just click on “Get Started Today.” Once you’ve created your Helium 10 account, what you need to then do is download the Google Chrome extension tool. Once you log in, all you’re going to do is click on “Download Extension,” and I’ve already done that. As you can see, the Helium 10 extension tool has already been installed.
Analyzing Product Sales Data with Helium 10
What I’m going to do is just paste the title of the product that we were searching for in there, just like that. This is basically what the item looks like. As you can see, there are all of these different sellers selling all of these different silicone food covers. So, on the surface, we can’t really tell if it’s selling well or not, and this is where the Helium 10 Google Chrome extension tool is going to come in. If I just click on it like this and then click on “X-ray Amazon Product Research,” it’s going to show me all of this data that we’re going to be able to analyze and figure out if it’s a product worth selling or not.
Analyzing Revenue and Supplier Options
The first thing that I like to do is sort the revenue from highest to lowest by clicking on this column title at the top. Straight away, we can see that all of these different Amazon sellers brought in a ridiculous amount of money from selling this product. This one brought in over $91,000, this one brought in over $43,000, this one brought in over $24,000 in the last month.
Sourcing Products from Alibaba Using Helium 10
The really interesting thing about all of these different products that are selling really well is that you’re going to be able to sell it yourself if you wanted to. You can easily source it because if I just come over here to where it says “Find Suppliers,” Helium 10 is going to be able to show you some of the top-rated suppliers on Alibaba.com right now that currently have these different silicone covers available for you to import and ship over to an Amazon warehouse for you to sell.
Contacting Suppliers on Alibaba
All you’ve got to do is click into any one of these different suppliers. It’s then going to take you over to the supplier’s page on Alibaba.com where you’re going to be able to now contact the supplier by clicking on this button over here, asking them how much it’s going to cost for 30 pieces, so on and so forth.
Requesting a Detailed Amazon FBA Video
Of course, there’s going to be an entire process that you need to be aware of when it comes to selling on Amazon as well as knowing what goes into finding the best supplier and reaching out to them on Alibaba.com. So, if you wanted me to make a detailed video on this topic where I go through all of the steps when it comes to building an Amazon FBA business, put it in the comments down below, “Do the Amazon video,” and I’ll get onto that ASAP.
Asking ChatGPT for Financial Advice
Swiftly moving on to the second way that you can use ChatGPT to help you start earning a passive source of income is by simply asking it for financial advice. Now, I’ve been investing for the past four or five, six years now, and the main way that I’ve been investing is into something called index funds. Now, the main index fund that I’ve been putting my money into is the S&P 500, and I’ve been able to see decent returns in doing so.
Understanding the Importance of Diversification in Index Funds
Over the years, I’ve understood the importance of diversification, even when it comes to something like index funds. Before I continue, if you’re completely confused on what an index fund is and what the S&P 500 is, I’m just going to quickly explain it now. An index fund is essentially stock market investing. Instead of you buying into individual companies, when you buy into an index fund, you’re buying into a group of different companies all at the same time.
What is the S&P 500?
There are different index funds out there that track different companies, and the S&P 500 is an index fund made up of the top 500 companies in the United States. So, this should definitely be at the top of any beginner’s investment strategy because it’s one of the best forms of investment. Again, this isn’t financial advice; all I’m doing is sharing how I’ve been able to generate tens of thousands of dollars in profit.
Reviewing the Performance of the S&P 500
To quickly show you how powerful the S&P 500 is when it comes to an investment vehicle, as you can see over here, if I just jump onto this chart, ever since 2010, anyone that’s invested into the S&P 500 has been able to see decent returns over the years. Even though, yes, the S&P 500 is great, and as I said, I’ve been able to generate tens of thousands of dollars in profit by putting my money into it, there are so many other index funds out there, but I’m not going to be able to come up with them off the top of my head.
Using ChatGPT to Discover Other Index Funds
So, I went over to ChatGPT and asked for its opinion. The prompt that I typed in was, “You are now my financial advisor. What are the 10 best index funds to invest in other than the S&P 500 so that I can diversify my investments?” You could type in something like that; it doesn’t need to be the exact same thing. I’m just going to put that and click on “Send.”
Verifying the Performance of Other Index Funds
Straight away, as you can see, it’s now come back with all of these other index funds that I’m sure have performed well over time. You are going to have to go and do your research to make sure that the chart looks good. For example, if I just take this one over here, the Vanguard Total Stock Market Index Fund, I’m just going to copy the ticker symbol, come back over to the chart. Yep, and just like the S&P 500, it’s going in a similar pattern where it’s gone up over time. Of course, it’s dipped at certain points, but on average, it’s gone in an upwards direction, which means that if you were to invest money over a long period of time, you would have seen decent returns.