How To Make Money In 2024 Using ChatGPT’s GPT Store

In an unprecedented AI move marking the entrance of 2024, ChatGPT’s creator OpenAI has at last announced it will be launching its own GPT store—the first of its kind as far as we know—any time this week (week commencing January 7). The launch was initially planned for late 2023 as per their announcement on OpenAI DevDay, but was delayed.

Why should this concern you? The GPT store will allow creators to create, monetize, and share their customized GPT creations with the world, much like an app marketplace. Think of it like the App Store for Apple, or Google Play Store for Google apps, only this one will be the AI store for GPTs. And the best part? It doesn’t require you to have any advanced technical skills for this to work and you don’t even need to write any code!

How Can Anyone Create A GPT?

Well, the answer to that question lies in first answering an initial question: What is a GPT? GPT means Generative Pre-Trained Transformer. It’s part of the foundational language model used to train applications and chatbots such as ChatGPT to perform human-like tasks for humans, such as interpreting text, generating feedback, and answering questions in a conversational way.

ChatGPT has the facility for you to take their GPT and customize it to perform a range of personal tasks to help you at work and in your business. Currently, this option is only available to ChatGPT Plus and Enterprise users, but what that means is that if you are on the free subscription but decide to switch to a ChatGPT Plus or enterprise user, you can create a GPT and sell it on their new app store this week—and in the future.

To build your own GPT, follow these eight simple steps:

1. Open your OpenAI account.
2. Once logged in, head over to the GPT Builder on the platform.
3. Think first about everyday problems that you’d like to see solved in your own life, or at work. Chances are, others in your position have those same problems too!
4. To customize your GPT, ensure you make it user-friendly by following on-screen guidance, giving it a suitable name, photo, and description, natural language prompts to define the actions you’d like it to make, and perhaps most importantly, use high quality, unique, and reliable data sources from which it can feed relevant information.
5. Keep learning and tweaking as you go along until it gives you the desired output.
6. Then according to the OpenAI team themselves, “Review our updated usage policies and GPT brand guidelines to ensure that your GPT is compliant.
7. “Verify your Builder profile (settings>builder profile>enable your name or a verified website).
8. “Publish your GPT as ‘Public’ (GPT’s with ‘Anyone with a link’ selected will not be shown in the store).”

How Much Money Can I Make From My GPT Creation?

At the time of writing, OpenAI has not yet provided specific guidelines as to how much passive income a developer can expect to make as profit once the store is launched, or what percentage OpenAI will take as a cut from profits. However, this endeavor is certainly worth the attempt, particularly as this provides an enormous opportunity for non-tech professionals to expand their creativity and prompting skills, which can be particularly useful for career progression and considerations for pay raises in this new year.

You should also bear in mind that the GPT store will most likely have a wave of hundreds if not thousands of new developers, all vying for customers in the GPT marketplace. Therefore you shouldn’t depend on the store alone to generate traffic or earn money. Think outside the box.

To take it even further and increase your chances of making higher profits, share your GPT creation outside of the GPT store. Promote it across your social media accounts, on your website, and embed it as a hyperlink into your blogs or via email marketing campaigns. If you already have a side hustle or main business (for example as a consultant), think about creating a customized GPT that adds value to your existing and potential customers, offering them quick solutions, especially if your main service is rather pricey.

You can use it as a funnel to create traction and capture initial customers for a low-value version of your service, and then generate interest in your other services or products.

So, as you can see, making money from launching a GPT on the GPT store doesn’t need to be restricted to the traffic that visits the marketplace each day alone. Get creative and find other ways to market your GPT, and make it work for you, to lead onto more complex, high-value services.

How much money can you make from ChatGPT’s GPT store? The answer: unlimited.