3 Top Ways to Make Money Online With OpenAI GPTs in 2024

Introduction

If you missed the make money with ChatGPT trend, good news: I’ve researched the three ways to make money. A new ChatGPT opportunity has just arrived and is even bigger than last. OpenAI has just released its all-new GPTs product, which is said to be the most significant opportunity in AI of 2024. These new and exciting GPTs are already being adopted by the world’s largest companies like Shopify, Snapchat, and Canva. They are placing their bits on a future dominated by these customized versions of ChatGPT, which should tell you where our world is headed. 

The best part about this, and why I’m writing this article today, is that anyone can start creating their powerful GPTs in just a few minutes and get in early on this new and exciting industry. However, as with any big announcement like this, it can take time to see through the hype and identify the real opportunities to make money. I’ve had to do extensive research to access this opportunity and plan my strategy.

I’ll be sharing this article with you. I’ll give you step-by-step instructions on the three most significant opportunities I’ve identified to make money with GPTs and how you can take action on them today to get in on them early. If you are new to the blog and need to know who I am. My name is Arslan, and I do in-depth research on the trends of online earning ways. Let’s get started before we jump into the list. Before getting into this space, I need to give you a quick crash course on what GPTs are and what you need to know.

What are OpenAI GPTs?

Firstly, what are GPTs? OpenAI is calling GPTs tailored versions of ChatGPT, and the idea here is that you can create fully customized versions of ChatGPT. That’s perfectly tailored to your company or your specific use case. For example, a guy made a GPT that is an AI yoga coach. Let’s get it: GPT is a luxury item authenticator that can check if you watch or design a real or fake bag. Another guy made GPT for a real estate data analyst. GPT can calculate ROI on properties and analyze market trends—even advice on property listings and much more. 

These GPTs are the first step towards allowing users and companies to build their AI assistants directly within the ChatGPT interface or via the new assistant API. This GPT release is such a big step and such an ample opportunity. This idea of having a ChatGPT on your business is by far the number one request businesses have when working with development companies. This is all they ask for; I want to ChatGPT but with business data, so we now have this thing from OpenAI that we can build on top of and deliver. These things are such a massive opportunity for businesses. A lot of you to take advantage of the GPT’s opportunity.

The 3 Key Ingredients of GPTs

You need to understand the three key ingredients you can use to create powerful versions of ChatGPT specific to a particular use case. It’s best to consider these ingredients as the variables you can control to define your GPT, what it does, and how it behaves. 

Prompting

The first ingredient is prompting, so this is probably not rocket science for you guys by now. Prompting is the written instructions you can provide to the AI to the assistant to tell it how to behave and the kind of tone to say what it can do. So you are very familiar with this right now. So, I’ll tell you the prompting thing is down so far.

Knowledge

The second ingredient is knowledge. Yes, you can. Add your files to the AI to draw from when creating its answer. You can give it a PDF so that you can give it docs. You can provide it CSV’s. Most data types are now supported. So you can share this additional knowledge with your GPT to use and generate its answers.

Actions

The third ingredient is action, or yes, you can. Use OpenAI and existing capabilities, like DALL·E, Browser Bing, or the code interpreter. Still, you can add your custom capabilities or actions that the AI could perform. This theory behind these custom actions can get complex, but for now, think of it as additional things that I can allow my assistant to do and let my GPT do that can do things in the real world. We might give it some information and the process to interact with the database, and we might call links about. So, that action allows it to do things outside of just answering from the knowledge base or the regular ChatGPT answering engine.

So, those are the three ingredients you can use when creating your GPTs. We have prompting knowledge and actions; different combinations of these three ingredients will build specialized GPTs for other use cases. So you, as the builder, I like a chef, and you get to pick and mix the ingredients you want and the amount, and that can create a recipe or create a separate outcome in terms of a specialized GPT for a specific use case or function with that.

1- Build GPTs for the GPT Store

With the foundation laid, we are ready to get into the first way of making money I’ve identified: to build GPTs for the GPT store. As part of the GPT’s announcement, AI announced that they are launching their Marketplace, where people can create and list GPTs they make. So you get to be the shift, put these different things together, and then put it onto the Marketplace for people to buy, access, or use.

The critical point is that they promised revenue sharing for popular GPTs, which could be lucrative. If you’re one of the first people to get onto this Marketplace and start building, there are two things you need to be aware of before you get stuck into this opportunity.

Warning #1

Firstly, you need to be aware of the kind of forecasts on how this Marketplace will likely operate in the first couple of months. At least there is going to be an explosion, which is going to fill up rapidly. Any low-hanging fruit or GPTs can easily be created with a public data set or API, like a crypto price tracker. Any of these low-hanging fruits will be made and commoditized quickly.

So, for you to be able to make any long-term money from this, you need to be able to create GPTs that other people can’t necessarily copy that quickly because, as a rule of thumb, if you can make it in 10 minutes, someone else can likely make it in 10 minutes as well. So, it would be best if you were thoughtful about how you create the GPTs on top of what they are made.

So private data sets, or API types, of data ways of accessing data unavailable to everyone will allow you to create a GPT on which not everyone can compete. And you have the sort of monopoly over that kind of data. If you can find these kinds of private data or private APIs that other people will pay to get access to, then you have a defensible position, and you can start to make long-term money from your GPTs on the platform.

Warning #2

Secondly, you need to be aware that OpenAI is getting the community to find their future product launchers. Many expect OpenAI to pull an Amazon-style move with this Marketplace, and they’ll just be skimming the winners of the top by integrating the best and most popular functionality on the Marketplace into their solutions. And they’ve already done this with the knowledge base and things like this.

This is an Amazon-style move because when Amazon sees selling products, like hotcakes on Amazon, they source the product themselves, start making their listings, and then rank. Those listings sort of as they wish within the search result. You can expect OpenAI to do the same thing here. So, if you win big in the Marketplace, you could be wiped out in the next update, so I prefer the following two opportunities I will cover in this article. It’s not that defensible or sustainable, in my opinion.

Step #1 Start Creating GPTs

My recommended strategy to start making money in the OpenAI marketplace is to create GPTs first. Rolling up your sleeves, getting your hands dirty, and building these things would be best. Doing it often requires learning how different data types can be used in the knowledge base to do other things. You need to get familiar with creating custom actions.

You need to be familiar with it to know how to make these things moving forward. It’s important to note that monetization and revenue sharing are not yet enabled on the platform. Still, you need to be able to become an expert now so that you’re first to the scene and ready to start making money with these and putting out some high-quality GPTs. 

Step #2 Build Your Developer Reputation

Step two is to build your developer’s reputation. OpenAI has developer profiles on the Marketplace. So, if you can establish yourself early as a good builder, you can see yourself up for long-term success by building that reputation now.

Step #3 Find Unique Datasets

Step three is to find unique data sets to escape competition. As mentioned, to create long-term value, you need to develop GPTs that no one else can. And this starts with finding data that others can’t get access to. Suppose you like an article on finding a sort of head and data to create valuable GPTs. Let me know in the comments so I can write an article together. 

That’s the strategy for making money in the OpenAI Marketplace. It’s not the favourite out of the three; these other two are more up, and I think they are more defensive or long-term, which brings us opportunity number two. 

2- Build Custom GPTs for Businesses

In my opinion, the real money in this GPT is the gold rush, which will be made by helping businesses create and implement their GPTs. I’ve researched an entire business model around this opportunity called the AI Automation Agency, where developers help companies implement AI technology. And it’s a new update like we’ve just seen. You help them enforce that as well. I think the GPTs on the store and the Marketplace are cool.

But the real value will be created through the assistant API, where you can create powerful assistance for businesses that can be built into their systems and run programmatically without a human having to be able to talk to it and operate it. These kinds of assistants or GPTs built on the assistant API rather than in 30 ChatGPT sites are a completely different ball game. One is for consumers, and one is for businesses and industrial-grade applications. This is why I say this side is where the assistant’s API will be, where most of the value is created from this technology and this update.

Studying an AI agency like this is, in my opinion, the most brilliant move in the long term, as by specializing in AI agent solutions and GPTs, you’re ensuring that you’re at the forefront of this technology. And you can constantly adapt and update your offering to include the latest updates from over AI. This means you get consistent new revenue by upselling clients. You build the assistant whenever a new update comes out, which works great. And then a new update comes out, you say these new features. We can plug those into the system we’ve created for you. The key here is to plan, design, and sell tailored GPT solutions to businesses. 

Step #1 Learn How to Put GPTs on Websites

My recommended strategy for making money with this opportunity is first to learn how to put GPTs on websites. But this is the first and most obvious solution: a product or service you can sell to businesses. 

Step #2 Pick a Niche

Step two is picking a niche. For example, you might say we use GPTs for coaching businesses. You must narrow your scope down to a specific type of person and try a whole bunch of them initially, but you do need to pick a particular person to contact and tell them what you can build for them.

Step #3 Offer Free Chatbot Or Audit

Step three is to start reaching out to businesses and offering a free build, chatbot, or even a free AI audit to identify where GPTs can benefit their business.

Step #4 Start Charging for Your Builds

Step four is that once you’ve done your audits and free builds, you can start charging for your services to other clients. It’s the simplified version of how to create one of these AI agencies that have an opportunity wrapped up.

We can get stuck into our third and final opportunity, specializing in GPT strategy and development as a freelancer, before we get into the third one. 

3- Specialize in GPT Strategy & Development as a Freelancer

The opportunity to specialize in GPT strategy and development as a freelancer. It’s just a logical step from the opportunity we just mentioned, which is that there are going to be hundreds of agencies popping up to specialize in GPT development for businesses. So, there will be massive demand for people and freelancers who can use the assistant’s API effectively, and it’s a sell-the-shovels approach similar to the agency model. There will be all of these agencies going out and finding all of these clients.

However, they must hire or contract people to create the assistant and use the assistant’s API to build the solutions. People keep saying that coding is dead and will be wiped out soon in the long term. I think that, yes, it will last until you become handled by AI. Until then, I see it becoming even more valuable than ever as developers can increasingly build and, sadly, powerful assistance in just a few out. The input-to-output ratio goes through the roof when you’re a developer enhanced by AI.

Step #1 Learn Basic Python & Javascript

My recommended strategy for making money with this opportunity is to learn basic Python and JavaScript first. Some might be rolling your eyes right now and saying coding’s dead. I’m just writing about my research. I build these things with the assistant’s API. I’ve been building AI software for the past year in my experience, knowing how to write Python and JavaScript code. It’s been hugely valuable and allowed me to do anything and build anything I wanted to, assisted by ChatGPT.

Step #2 Start Building Assistants

So, use your Pythology and the assistant API to start creating some of these GPTs programmatically, flexing your skills and getting familiar with what you can build and how to use the knowledge component, the tools component, etc. 

Step#3 Build Your Brand

Finally, step three is to build your brand as a GPTs specialist. This means creating your website, maybe even creating your YouTube or starting to post on LinkedIn, signing up to put yourself out there and saying these are the kinds of things I’ve done. And this is how I can help you, and there you have it. 

Conclusion: How to Choose the Best Ways to Make Money Online With OpenAI GPTs

Those are the three most immense opportunities I researched to make money with GPTs. Which is the best way to choose? Choose for yourself, keeping two things in mind. The first thing is that you decide for yourself after knowing about their dedication. The second thing is choosing the one where your skills and knowledge are the most important. Suppose you’ve enjoyed this article and want to stay in the loop on the latest updates regarding GPTs and how to build a valuable business. In this new industry, follow us on social media and express your opinion regarding the article in the comment box. If you have not read our last article about remote jobs, click here and read now.