Using ChatGPT In Your Business 💻

Learn basic and advanced ChatGPT skills for business

Exactly How To Get Massive Gains With A.I.

Previously, we explored case studies showing the incredible gains business owners are getting with ChatGPT. Now, let's get into exactly how to make those kinds of gains.

The way to make enormous gains in your business using ChatGPT is by leveraging ChatGPT for its greatest strengths while avoiding its weaknesses and risks, and customizing it to do specific and frequent, but basic, work tasks that are key to your business' success.

In short, use AI for what it's good at on basic things in your business that have to be done every day, getting things done faster and better than before.

Let's break this down and go over each part.

1. The biggest gains come from customizing ChatGPT for specific tasks (which is what I mean when I say Custom AI Tools).
2. To benefit most from the time and effort it's going to take to customize ChatGPT, you have to focus on frequent, valuable business tasks.
3. In order for the AI tool to be successful at the business task you are asking it to do, it has to be suitable for that task. Use AI for its strengths. Avoid its weaknesses and risks.

That's the best way to make massive gains in productivity with AI. But, why productivity?

You could use AI to create a new product for your customers or improve your current product, or try to break into a new market, but all of those come with higher risks of failure, and require much larger up front investments. The rewards can be tremendous, of course.

Productivity gains on the other hand are easier to get and a more reliable source of profits.

Think about it. You can deliver the same value to the same type of customer, no complicated new changes, and just get your employees accomplishing their work faster. Acquire more customers, fulfill more orders, make more profit. It's the simplest path to business growth!

Go after productivity gains first! And then, by all means take on the harder stuff.

So, we focus first on Customizing ChatGPT for massive productivity gains for reliable profit growth.

Let's dig into the frist part of that: Customizing ChatGPT.

How To Customize ChatGPT

ChatGPT's default behavior is to Be a helpful assistant.

You can change that default, to a degree, and direct ChatGPT to do something else entirely, like host a leadership training game, or search the Internet for leads for new customers... Or endless other things that are key to your business' success!

Let's take a quick look at a tool I built for my assistant, who looks for events where I can deliver my keynote talk: 💻 Using ChatGPT for Massive Business Growth »

Focusing On The Right Business Tasks

Building a Custom AI Tool is how you squeeze the most juice out of ChatGPT, but it has to be worth it.

It's going to take time, effort, and some experimentation to get these AI tools working beautifully for you. You can't just throw them together and expect fantastic results on the first try. So, you're going to want to get as much bang for your buck as you can.

Here's what to look for:

1. Find repeating business tasks, things your employees have to get done every day, not just once in a while.
2. Identify tasks that take up lots of time for one or more of your employees.
3. Try looking for things they aren't already doing lightning fast with other software tools.
4. Focus on tasks that are basic and don't require lots of specialized expertise.
5. Make sure these tasks are of high value to your business, not just nice to haves.

Once you have some options, do a test run. Try using ChatGPT to do each of the tasks.

You're going to want to make sure ChatGPT can do the job correctly first, and then worry about speed afterwards. ChatGPT should produce a useable result at minimum 50% of the time.

In our premium training programs we dig in deep on this, showing you exactly how to talk to ChatGPT (so called prompt engineering) to get good results, but let me give you three simple tips to follow as a start:

1. Give lots of background information.
2. Give simple, clear instructions.
3. Provide examples of what a good result from ChatGPT would look like.

Let's see this in action:

Strengths, Weaknesses & Risks Of ChatGPT

It would be convenient if ChatGPT were suitable for any business task. It's not. You need to understand what it's good at, where it's weak, and what risks exist.

In our premium training programs we do a full technical overview, taking the complex details of how AI works, and breaking them down to the simple, hardcore facts you need to know to use the tool in a business setting. We make it simple, so any employee no matter how tech savvy they are or are not can use the tool to get their job done better and faster.

For now, I'm going to highlight one weakness, one risk, and one strength.

A Key Weakness: Math

ChatGPT is pretty terrible at math.

There is a ton of work being done at OpenAI, the company that makes ChatGPT, to get it to be better at math, as well as logic and reasoning, and they're making progress, but ChatGPT sometimes makes mistakes even a calculator would not.

It is not wise to try to get ChatGPT to do bookkeeping activities. There are other great software tools out there for tracking expenses and so forth in automated ways.

So, that's one area you can avoid until the AI systems improve.

Next up...

A Key Risk: Hallucinations

Sometimes, ChatGPT confidently and politely tells you something that is... Totally made up and inaccurate!

This has come to be called a Hallucination.

Some of these are hilarious, like Google's AI saying, Eating the right rocks can be good for you because they contain minerals that are important for your body’s health.

That's not true. Do NOT eat rocks.... Also, probably don't use Google's AI for now.

A quick note on AI systems here.

AI stands for artificial intelligence, and it just refers to the more complex and capable algorithms that make computers seem like they're approaching human intelligence. It's the top level category. Large Language Models, or LLMs, are a new type of AI that are capable of mimicking human conversation. ChatGPT is one of them.

There are many others LLMs, in fact Claude by a company called Anthropic is better than ChatGPT at a variety of things like creative writing and generating computer code, but Claude cannot browse the Internet by default, and is missing other useful features that ChatGPT has.

Claude is a worth a try. Learn more here: www.anthropic.com

Back to hallucinations!

So, what do we actually do about these hallucinations?

First, do you have any family members that do this too? They tell you something they read somewhere, but it's not exactly true? Yeah, so we start by forgiving them, and not relying on them to be encyclopedic in their knowledge.

ChatGPT is not encyclopedic, but if you need it to be, you can just have it browse an encyclopedia for the right answer, and it does that with nearly zero mistakes.

You can also use various techniques to add your company or product information to a custom ChatGPT tool so it can answer questions about your products or company accurately.

Last point here, all AI systems (not just LLMs) make mistakes, as do all humans, you want to be careful when making any of them client facing, and you want to focus on getting error rates as low as possible not trying to go for flawless.

Next up...

A Key Strength: Language

One enormous strength of ChatGPT is language... And business is surprisingly full of language tasks.

ChatGPT is after all a Large Language Model. What this means is that there is a very very VERY large amount of text data compressed into ChatGPT. How large? Imagine all the scientific publications, every news article, every digitized book, and much of the Internet.

Where ChatGPT is bad at math, it's unbelievably good with language.

Now, this doesn't make it better than human poets at crafting poetry, or more expert in law than the top senior lawyers, but it's faster. Much much MUCH faster. So, anywhere your employees have to do basic language work (not the expert stuff that requires their full attention, but the basic stuff they do on repeat every day)... ChatGPT can get it done much quicker.

Business is actually full of language tasks:

• Writing emails and proposals
• Reading and analyzing documents
• Creating marketing content
• Prospecting for new customers
• Reading industry reports for market research
• Qualifying leads
• Coming up with names and slogans for new products
• Drafting sales scripts and copywriting
• Writing video scripts for a new marketing campaign
• Crafting agendas for employee training
• Drafting procedures for customer onboarding
• Writing your big speech to celebrate a major milestone 😉

Think of your employees that work on the computer all day, and imagine if they got a big chunk of their work done in half the time they usually spend with the help of ChatGPT.

Next Up... Going From Productivity To Profit

That was a look at how to make massive gains with ChatGPT. Namely, customizing ChatGPT and leveraging its strengths to accelerate important, repeating business tasks.

That is the easiest place to start leveraging AI in your business: Same customers, same value add, just getting the work done faster without losing quality.

But... Even if your employees get their work done faster... Do they just go home early?

Obviously not, and there are other problems too. For example, what if you use AI to get sales going much faster, but you don't have the staff onboard to fulfill the new customer orders? What if you have the reverse: Faster fulfillment, but no new sales?

These are the kinds of things we'll cover in the next lesson, so that you have a strategy for how to approach using AI to grow your business.

Alright, see you next time for translating AI-powered productivity gains into business and profit growth.