Meet The Kid Who Made $1M with ChatGPT
TLDRJoe Popplus, a 20-year-old computer science student, shares his journey of creating a successful business valued at $930,000 by selling AI-generated ebooks. He started with a minimal budget, learned from his competitors, and leveraged Pinterest ads for marketing. Despite market saturation fears, his brand's momentum and loyal customer base keep profits high. Joe now teaches others to build their book brands and pursues music as a hobby.
Takeaways
- π A young entrepreneur made over one million dollars in a year by selling AI-generated ebooks, demonstrating the potential of technology in modern business.
- π The business idea originated from the entrepreneur's interest in AI and GPT-3, and his desire to integrate it into business models.
- π Starting as a college student with a part-time job, the entrepreneur leveraged his pre-existing skills in AI to create a profitable business model.
- π The entrepreneur's success was not just in creating the books, but in how he marketed them, particularly to middle-aged moms on Pinterest.
- π‘ The business took off after the entrepreneur met with a publishing company and realized the potential in the book-selling market.
- π The entrepreneur's first profitable day came in October, and by December, he made his first thousand-dollar profit.
- π° The business has a high profit margin of 70 to 80 percent, with the main expense being ads and the cost of creating books with GPT-3.
- π The marketing strategy relies heavily on Pinterest ads, which are used to test different niches and refine the sales approach.
- π― Landing pages play a crucial role in converting leads into sales, providing value and establishing a professional brand image.
- π The entrepreneur sees the potential for scaling his business by selling parts of it, showing that there are multiple ways to grow and monetize a business.
- π‘ Learning and skill development are emphasized as key to the entrepreneur's success, highlighting the importance of a strong foundation in starting any venture.
Q & A
How did Joe Popplus initially start his business?
-Joe Popplus started his business by generating AI-based books and marketing them on Pinterest, targeting middle-aged moms. He began this venture after realizing the potential of AI in book creation during his encounter with a publishing company.
What was Joe's educational background at the start of his business?
-Joe was a 20-year-old computer science student when he started his business.
How did Joe monetize his AI-generated books?
-Joe monetized his AI-generated books primarily through selling them on online platforms, using Pinterest ads to reach his target audience.
What challenges did Joe face while building his business?
-Joe faced challenges such as managing his time effectively while attending college full-time and working a part-time job. He even dropped two courses to focus on his book brand.
How did Joe optimize his book creation process?
-Joe optimized his book creation process by learning from his competitors, refining the structure and content of his books, and using AI to generate book outlines and topics.
What is the profit margin of Joe's business?
-The profit margin of Joe's business is approximately 70 to 80 percent.
How does Joe approach competition and market saturation?
-Joe is not concerned about competition and market saturation due to the large market size and his brand's momentum. He believes in providing value and improving his products to stay ahead.
What does a typical day look like for Joe?
-A typical day for Joe involves checking on his ads, ensuring his proofreader is on track, working on teaching others how to build their book brands, and in the evenings, he produces house music as a hobby.
What advice would Joe give to his younger self when starting out?
-Joe would advise his younger self to prioritize learning over earning and focus on building a strong skill set, as it increases the chances of success in business ventures.
How did Joe's first business idea come about?
-Joe's first business idea came about after he graduated high school in 2020. He started working on a use case for GPT-3 and realized the potential of integrating AI into different business models.
What is the valuation of Joe's book brand?
-The valuation of Joe's book brand is $930,000.
Outlines
π Entrepreneurial Success with AI-Generated Books
This paragraph introduces Joe Popplus, a young entrepreneur who made over one million dollars in a year by selling AI-generated books. Despite having a busy schedule as a full-time college student and working part-time, Joe managed to build his business in his spare time. His innovative approach to advertising his books, primarily to middle-aged moms on Pinterest, has been the key to his financial success. Joe's journey began with his interest in AI and GPT-3, leading him to explore how to integrate AI into various business models. His encounter with a publishing company and their impressive revenue figures inspired him to start his own venture. Despite initial challenges and learning curves, Joe's dedication and strategic use of AI allowed him to create a profitable business model.
π Business Growth and Profitability
In this paragraph, Joe discusses the financial success of his book business, which has made him a profit of $390,000 with a current valuation of $930,000. He explains that his profit margin is between 70 to 80 percent, with the main expense being ads and the cost of creating books with GPT-3. Joe shares his early struggles with proofreading and the evolution of his marketing strategies, particularly on Pinterest. He emphasizes the importance of landing pages in the sales process and how they can significantly impact conversion rates. Joe's confidence in his brand's momentum and his loyal customer base makes him unfazed by the potential market saturation and competition. He believes that saturation will drive businesses to provide more value, which is beneficial overall.
π― Scaling and Selling Book Brands
Joe shares his experience in scaling and selling book brands as a repeatable process. He has successfully sold parts of his corporation and continues to build more book brands for future sales. Despite his young age and significant earnings, Joe remains focused on growing his businesses and maintaining a lean lifestyle. He invests in non-depreciating assets and plans to invest more in the future. Joe's daily routine involves managing his business, teaching others to build their book brands, and producing house music as a hobby. He reflects on his early business ventures and advises aspiring entrepreneurs to prioritize learning and skill-building over immediate earnings, highlighting that a strong skill set is crucial for business success.
Mindmap
Keywords
π‘AI generated books
π‘Business idea
π‘Pinterest marketing
π‘Chat GPT
π‘Profit margin
π‘Self-funded
π‘Competition
π‘Landing page
π‘Revenue
π‘Scaling
π‘Minimum wage job
Highlights
Joe Popplus, a university student, made over one million dollars in one year with a unique business idea involving AI-generated books.
Initially working as a stock shelfer for $11 an hour, Joe now earns a living selling thousands of ebooks using an unconventional method.
The key to Joe's business success is not how he creates the books, but how he advertises them, primarily through Pinterest targeting middle-aged moms.
Joe's journey began with exploring AI use cases for GPT-3, leading him to develop a book brand valued at $930,000.
In July 2022, Joe started monetizing his advice on AI, eventually pivoting to selling AI-generated books after realizing the market potential.
By October 3rd, Joe achieved his first profitable day, and by December 28th, he made his first $1K in a single day.
Joe's business is entirely self-funded, starting with the money he earned from his minimum wage job.
Balancing school, a part-time job, and building his business, Joe dropped two courses to focus on his book brand.
To get started in AI generative books, Joe suggests taking an interest in AI models, learning their workings, and finding a niche with traffic and ambitious people.
Joe's first book was poorly structured, but by studying competitors and refining his process, he improved the quality of his AI-generated books.
The profit margin for Joe's business is about 70 to 80 percent, with the main expenses being ads and proofreading services.
Pinterest ads have been the primary source of revenue for Joe's business, utilizing consideration campaigns followed by conversion campaigns.
Landing pages are crucial for showcasing the value of the product, providing chapter previews, and selling the AI-generated books effectively.
Joe's brand has a loyal customer base and momentum, making him less concerned about market saturation and competition.
The business model is highly scalable and repeatable, allowing Joe to sell parts of his corporation and continue building more book brands.
Joe's typical day involves ensuring ads are running correctly, managing his proofreader, and teaching others how to build their book brands.
As a 20-year-old, Joe has already made significant earnings from AI books, investing in a Rolex and focusing on building businesses rather than material possessions.
If given the chance to advise his past self, Joe would emphasize the importance of learning and skill-building over immediate earnings.
Joe's success story serves as an inspiration for others interested in leveraging AI to create and sell books, highlighting the potential of AI in modern entrepreneurship.