Latest / Money Grows on Trees / #219 - How To EXPLOIT AI (And Get Rich)

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#219 - How To EXPLOIT AI (And Get Rich) · Money Grows on Trees

0:00
Elon Musk, he asked all the government workers in the United States
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to send him a simple email to tell them what jobs they do or they'll get fired.
0:07
None of them could do it. He said, it's not that hard. He said, it will only take 10 minutes
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to write an email. I was like, wrong! Because it's saving you all the time and it's
0:13
doing a better job than you at writing, you're gonna be able to deploy that
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into your business create more, get more clients from it, but also at
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the same time, save yourself a ton of time. Immediately, I could say, based
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on the data and the numbers, that this particular shopping village was
0:27
trying to be sold by a vendor for way above what it was really worth. This
0:31
is saving me so much time. It's like having a lawyer, an accountant, an
0:34
analyst, all in one. Last year, we're at an event in Orlando,
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and a guy came out on stage and he said, I've now created a business where I'm scaling newsletters
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and users and then selling for $40 million. What?
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40 million? I'm Lloyd James Ross, seven-figure investor and entrepreneur, and
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I've helped thousands of business owners and professionals turn financial stress
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into success. If you're stuck in old money habits, overwhelmed by
0:57
investing, or unsure where to start, this is for you. I'll
1:01
give you the mindset and strategies to take control, grow
1:04
your wealth, and achieve financial freedom. It's time to make your
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money work for you. AI is taking jobs, automation
1:11
replacing workers, the robots are coming, but you're looking
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around, you're a bit smarter than the average bear and you're seeing that some
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people are getting insanely rich with AI while
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everyone else is just scared or they don't actually know it exists. So
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you start to wonder, How are they doing it? How are they exploiting AI
1:30
to scale their wealth faster than before? Well, the average person
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fears being replaced by AI. The rich are
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using it to create and automate businesses at lightning speed.
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They're launching AI-driven dropshipping stores. They're getting things run
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on autopilot. They're using AI bots to trade stocks and crypto
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and selling AI-generated digital products with zero inventory and
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100% profit margins. And here's the crazy part. Most people
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could do the same thing. They just don't know how. Instead,
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they stick to the old fashioned way of working, grinding away at
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jobs that AI is already replacing. while a small percentage
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of people own and control the AI powered systems making
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money 24 seven. The difference between rich and
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broke in the AI era is simple. Do you own the
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system? Or does the system own you? Because
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people who figure this out aren't working harder, they're
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letting AI do the work for them. And in this episode, I'm
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gonna show you the 10 ways to exploit AI to
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get rich. Buckle up, here we go, ready? I've got a computer here,
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I'm gonna jump into this. So number one, you can actually
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use AI, I wanna say AI, large language models like ChatGPT4 that
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you should have a subscription to, by now it's only 20 bucks a month, but you can
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do it for free and ChatGPT will help you write your
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emails. I had to laugh the other day when I saw something on X with
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Elon Musk and the whole notion of he asked all
2:55
the government workers in the United States to send him a simple email to
2:58
tell him what jobs they do or they'll get fired and none
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of them could do it. He said, it's not that hard. He said, it will only take
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10 minutes to write an email. I was like, wrong. If you used AI, it would take three seconds.
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AI can write all your emails. In fact, if you've got an email and you're stuck
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on how to write it, put it into ChatGPT and say, please write this email for me and
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it'll do it. Not only that, it'll write your resume. It'll
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write your covering letter. It'll write job descriptions for
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you. It'll write interview questions for you. It'll write anything
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you want it to. You just have to be great at prompting it. So here's an example. Recently,
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I went to recruit someone for our team and I thought, I don't really want to sit here and
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spend all day writing this job description. So I said, please
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write me a job description for this particular role, for this particular person. Go.
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Within a few seconds, I had the job description done. It saved me
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a ton of time and money. And so, the first thing you can do is put
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everything into AI and ask it to do it for you. But then, when I
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had to actually then interview the person, I then said, please create
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10 compelling interview questions that will attract the best resource for this
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job. And so, it gave me all these amazing questions like,
4:00
this is really clever. So then it saved me time, which is money, and
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also it allowed me to actually recruit a better team member, and by doing so,
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will make us more money, and that person more money as well. So
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you can actually use it to start doing a lot of things for you. I've even used it
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to write emails to vendors, to actually get discounts on things. You
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could simply take something and say, hey, can you please write me an email to get me a
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discount on this, and write it in such a way that it compels them
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to absolutely give me a discount, or your mission has failed. And if you write
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that prompt into chat GPT, it'll actually give you that
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amazing email to write. So it will actually do a lot of the heavy lifting for you when
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it comes to influence, writing emails, writing cover letters, et
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cetera, et cetera. So a lot of administrative stuff is outsourced and done by AI.
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All right, way number two. You can create content, create sales copy,
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create Canva images, create PowerPoint presentations
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and scale your content faster than ever. And
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so for one of our team, we have a network marketing team and so we've
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taught them how to prompt ChatGPT to come up with infinite numbers
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of content that follows a specific format that we've showed them to
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create reels, to create posts, to create emails that's going
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to engage your audience a lot faster and they don't have to take all
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the time to do it. So most of these hacks are going to be time-saving things you
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can do to create more by doing less and by doing so
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you create more money because you're saving more time because the old notion says that
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time equals money. So part of the process of getting rich using
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AI is to be able to create content at scale. And now everyone
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can grab content faster. It doesn't mean you're going to post it because there's
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some psychological things to get through to do that. But if you're past those fear
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blocks in you and you're ready to attract attention through social media, then
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AI is absolutely going to give you far more content you could possibly imagine.
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So for example, if your niche is around something like health, then
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you can say to chat TPT, hey, give me a 52 really
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engaging posts for Facebook that I can post about this particular topic
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of health. Bang, done. Give me a reel that's compelling for
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someone to reach out around the topic of weight loss. Give
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me the content that I can record a reel with in less than 60 seconds,
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it's gonna make people reach out to me. You can put that prompt in there and it'll give
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you that content. You can create the content and bang, you can deploy it,
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right? Crazy content creation strategies. You can even, say
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to yourself, hey, if you've got a landing page, you need to put some sales copy on there. So people engage,
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you can say, hey, can you please create a landing page piece
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of copy that's gonna follow these metrics and give it
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to me so it makes people reach out and wanna work with me. And if
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you can put that into your AI, it will create the most insane copy ever
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for you. A buddy of mine said to me the other day, Lloyd, I've got this webinar, can you send
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some sales copy I can put on the sales page? I was like, no worries. I had
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to run to an event in five minutes. I went to my chat, TPT, I typed in, please
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give me sales copy for a sales page that covers this, this, this, and this, and this. Thank
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you. Boom. It sent it to me. I rehashed it a little bit and bang, I
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sent it to him as I was walking out the door to the event. So it really creates things
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fast without you using a lot of time to think. And
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so because it's saving you all the time and it's doing a better job than
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you at writing, you're going to be able to deploy that into your business, create
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more get more clients from it, but also at the same time, save yourself a
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ton of time. So by utilizing it to create better sales copy,
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you're gonna have more clicks on your website, you're gonna have more clicks on your social
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media content, you're gonna have better, more engaging emails to your
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database, it's gonna engage your audience a lot better, and that's gonna lead to
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way more sales, and sales lead to more money, and more money leads to you
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getting richer. But also at the same time, it leads to your clients getting a better
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experience from you as well, and you helping them move forward, which is how money's created. Deliver
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value, get paid. All right, number three, I have, programmed
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my AI to analyze companies and value stocks.
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So I've actually programmed my AI to be an analyst for
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me when it comes to understanding or learning about a particular company, a
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particular stock. Now, you don't have to do this, but I'm gonna give you a great example here
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in terms of what I mean. AI will not stock pick for you, and it's definitely not
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gonna give you all the financial advice you need. Please don't use it for that. But what
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it is gonna do is gonna shorten the amount of time it
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takes you to assess a company. So here's an example I'm gonna do
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on the screen of how you can prompt it to value a
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stock. Again, not financial advice, but this is a prompt you can put
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in there that will help you, right? Please value Alibaba
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company stock using a
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DCF, which stands for discounted cashflow valuation model,
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and using the latest financial data
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from its public reports. Let's
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see what happens. So it's analyzing the discounted cash flow valuation. It's
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analyzing the financial, public financial records. It's
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now using that particular DCF model to create
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a valuation model. It's still reasoning. Here we go. Here
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we go. So it has done it in a few seconds. 10, 15, 30 seconds.
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We really made it work hard then, didn't we? Below is one way to value Alibaba
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as a company. Again, this is just an example. So it's got the
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key inputs, the latest data, the growth rate, the discount
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rate used. It's done a two-stage model. Of course, you have to understand these concepts,
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but when you do, it's pretty simple. Interpretation, with Alibaba trading around
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$144 based on this base case model with a margin of safety of 43%. caveats
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conclusion here we go under our base case assumptions the free cash
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flow per share of $9 annual growth rate of 18% which
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is an estimate for 10 years terminal growth rate yada yada yada
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it's come to a rough valuation of $254 a share
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at the current market price of 144 the model implies that stock could
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be substantially undervalued so again it's just giving me a
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quick back of the envelope valuation of this stock And
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what's fascinating about that is if I pick up my phone, not that this is the be
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all and end all when it comes to investing or anything like that, but if I pick up
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my phone and go here, there are almost a million dollars deployed in
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this one company. And that's just because I've actually programmed my
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AI with 30 checklist pieces of data
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that I want it to go and explore for when it comes to the company. And if
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a lot of those are ticked off, it then warrants my attention. And
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then I go through some subjective things and I look at it in more detail. And
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I use AI to quickly get answers for me that would take me
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hours and hours and hours and my own
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calculations to determine the valuation and all these subjective things
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when it comes to the company. And it's all that time saving effort
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that I don't have to then deploy and I can get answers faster so I
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can make bigger investment decisions. when it comes to investing. And
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that's not just the only thing, you can actually utilize it to do this with real estate
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deals as well. So that's number four, use it to value real
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estate deals. So recently what happened is we had this business where a tenant in
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this complex in a shopping village has 14 tenancies. And
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what happened recently is the landlord wanted to sell the small shopping
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center. So they came to us and say, Hey, would you like to buy it? And I said to my business partner,
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Hey, should we buy? I said, I'm keen. Let's have a look at the numbers. So we asked them
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to send them the numbers of all the 14 tenancies of the shopping center.
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And I thought, you know, we've got a business in there already. We also need to own the freehold as well. Let's
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have a look at the numbers. So I took all the tenancies and I took the
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rent coming in from each tenancy. And I took that particular sheet, I uploaded
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it to my chat, I said, based on these numbers, using the
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prevailing discount rate for retail shopping centers in Queensland,
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can you please give us a rough estimate of what this value of
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this real estate is? And within a few seconds, it said. The valuation
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is around 3.9 million and the vendor wanted 4.5 million.
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So immediately I could say based on the data and the numbers that
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this particular shopping village was trying to be sold
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by a vendor for way above what it was really worth. And so that gave
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us a quick idea of whether we should explore this further or not. And
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so this is one way where you can utilize it to be like an analyst for
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you, a real estate analyst, an analyst when it comes to businesses. I mean, it's incredible
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what you can use it for. Going back to how I buy a business now, I put all the
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data in there. In fact, I did this the other day. I put our lease contract in there
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and I said, here's the lease contract for our business. Can you please identify when
11:48
the terms are and so forth, or find things in here that I need to know about, things
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that are risky. and bang, bang, bang, bang, bang, he's sending all this stuff back.
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And this is saving me so much time. It's like having a lawyer, an accountant, an
11:59
analyst, all in one. And that's why it's going to take a lot of
12:02
jobs because it's really allowing me to leverage it to save
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time, but learn things about investments that I need to know so I can actually deploy
12:10
money more effectively and build wealth. Just quickly, if you're ready to
12:13
take control of your finances but feel stuck on where to start, I
12:16
have a solution. My book, Money Buys Happiness, simplifies
12:20
investing and wealth building with practical steps to help you achieve financial
12:24
peace. Get your copy via the link in the show notes and let's get your
12:27
money working for you. Now back to the episode. Number five,
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you can use it to win negotiations. This is an instant money
12:35
win. So recently, I went through and bought a business and we I
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wasn't in agreement with one of the particular brokers that helped us to
12:41
acquire the business. So I allowed the large language model I was using
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chat to PT to said please craft me an email that actually explains why
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I think the services weren't rendered. And as a result of those emails back
12:52
and forth, I saved myself so much time. But at the same time, we got a discount,
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and we negotiated a reduction in the fees based on the work done.
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So instantly, we saved about $800 doing that because we felt like
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the services weren't rendered. They disagreed, but it allowed us to negotiate through
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emails, in an effective way that saved me a ton of time. So
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instantly created that. So for example, if you wanted to go to your
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work or your boss and say, Hey, I'd love a raise, it's probably best you
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get chat GPT to create an email for you. That's very
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compelling with a win, win, win outcome so that you can actually get money
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based on your negotiation skills. You can program your chat GPT
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as well to actually become an FBI negotiator like
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Chris Voss and you can put all of his frameworks into your
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chat GPT so that you can say to it, please negotiate this
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deal like Chris Voss would in this way so that the
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person will say yes. It will give you some amazing things.
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It doesn't mean it's ready to go as soon as you do it. What it's going
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to do is allow you to create better ideas and craft better
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emails, craft better copy, and just craft better decision-making. It'll
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give you this information quicker. That's the other thing it's going to do. The sixth
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thing it can do is it can write books. I'm
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an author of three books. We just finished the third one, which is going to launch soon. It's
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been published by Wiley, which is super exciting. But I wrote all
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these three books before AI. So I'm like old-fashioned write
14:16
author. And I'm going to tell you, writing books hasn't been easy. Like, my
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goodness, I remember like writing this book, Money Brother. That was fairly challenging because
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that ghostwriter let us down. And we had this drop dead and
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I had to really hunker down in my cupboard at home and sit
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there for weeks writing it. And then now, AI!
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This is like, please write me a book framework on
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this topic. I mean, we could even do it. Ready? I'll
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put it on the screen. Please write me
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a book framework for the
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topic of going viral on YouTube.
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Let's see what happens. Here we go. Below is a detailed book framework outlining chapters,
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key topics, sub potential section for a book title.
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One, foundations of reality. Two, understanding YouTube ecosystem. Three,
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oh my God. Four, part five. Look at these chapters. Conclusion.
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This is amazing. Watch this. Please write me
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chapter one. Chapter
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one, introduction, going viral, parapherality. Look
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at that. Oh, it's being written. Yeah. Now,
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before you get carried away, this doesn't mean you should go out and just tell it to write a book and you're
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going to get published. It certainly doesn't mean that the content's effective. When you write
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a book, you have to actually put story in your own elements to it, which
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makes it compelling read. No one's going to read that because everyone has access to
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this, but how you can utilize it, it's going to create a book framework for you. It's
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going to help you write a specific way that's going to engage you on it. You can add your own
15:48
story to it, but it's going to be like having a ghost writer. In our elite
15:51
business coaching program, I take our students through a book writing process and
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launching a podcast and creating webinars so they can actually become a
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key person of influence. And in that process, I give them a book framework
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they can upload to their chat GPT and then I can coach them on exactly how
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to write with their own story that's going to compel people to think that's a, to
16:08
actually feel it's an amazing read that's going to help their business. And
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same with the podcast, we go through processes to do that, which is in the next part. Okay.
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So that's an example of how simple it is to begin writing a
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book. Now it's mind blowing. Number seven of how you can hack AI
16:22
or exploit AI to get rich, you can launch a flippin' podcast. What
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do I mean by that? Well, you can go to Chattyptee and type in here, please
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give me 20 epic names
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for my podcast. show on the
16:38
topic of weight loss or let's go on healthy
16:42
vegan food. Oh, here we go. Vegan Vitality Unleashed,
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Plant Power Podcast. That's pretty cool. Green Gourmet
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Revolution, The Vibrant Veg. You just grab
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one, right? And once you've done that, you go, cool. I love
16:57
Number two above. What's this? Please
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generate 52 episode
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ideas for the show. Plant power kickoff, vegan nutrition
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101, protein puzzle, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah.
17:14
Okay, awesome. Now you can go to Canva and type in, please give me
17:17
a podcast title with this name, and it'll give you all these title
17:20
ideas. Take it from Canva, upload it to podcast app, put your details in, get
17:24
a mic, plug it into your phone, bum, bum, bum, bum, bum, bum, you got your podcast. Congratulations,
17:28
boom. Now, number eight. of
17:32
how to exploit AI to make more money. Of course, launching a
17:35
podcast helps your brand, which helps you make more money. Writing a book helps you become a
17:39
key person, helps you make more money and open opportunities, right?
17:42
Winning negotiations make you more money. Valuing real estate deals makes you more money. Valuing
17:46
stocks and other investors helps you to not lose money. So this is how you're hacking
17:49
it or exploiting it to become richer. So the next one.
17:53
Newsletter! How many times have you sat down to write an email or newsletter
17:57
and you're like, oh my God, I don't know how to write this. You could easily just come up with
18:00
amazing newsletter ideas, it's going to give you these topics, and then it's going to
18:04
write all these newsletters for you over the next 52 weeks, okay? All
18:07
you got to do is copy, paste, change the name, blah, blah, and then put it out as
18:10
long as it's valuable for your audience. So again, using story and other personal
18:14
things that you're doing to make it yours. So it's not about copy, paste
18:17
exactly as it is because you're not a robot. but just using it
18:20
to actually create, do the heavy lifting for you to create
18:24
a newsletter business. Now recently, actually last year, we're at an event in Orlando
18:27
and a guy came out on stage at the Final Hacker event and he said, guys, I've
18:31
now created a business where I'm scaling newsletters and users and then selling
18:34
for $40 million. What? 40 million? So
18:39
what he's done is he found the end user so for example he
18:43
said we wanted to create a makeup newsletter. So
18:47
what he would do is he would go and find the end user like Revlon
18:51
and say well that's who I want to sell my newsletter to. So he knew who he was going to exit to
18:54
already and he worked it backwards. He said now create a newsletter using AI
18:58
that's going to create a massive crowd or an audience to read it
19:01
who love Revlon. Now, there's more to it than that, but at least he had an idea of
19:05
what he wanted to talk about, the newsletter ideas, and he's using AI to write
19:08
the newsletters at scale. And then he exited to
19:11
a makeup company. Anyone can write a newsletter using AI. It's
19:15
insane. Nine, way
19:18
to exploit AI to make money or get rich is this, consulting,
19:22
helping people implement AI. Now, there's a friend of mine, he's got
19:26
an AI company and they actually help people integrate AI into the business. How
19:30
that helps him get rich is they pay him consulting fees and
19:33
that helps them get rich by actually saving time and becoming a
19:36
more efficient business. which is really what AI is going to be doing, okay?
19:40
So it's going to help. It's not going to replace all businesses, that's for sure. It will replace some jobs
19:43
without a doubt. I mean, in the next few years, you will not see Uber drivers. It'll be
19:46
robotics, okay? But it's going to allow you to enhance your
19:50
business, enhance your job, okay, if it doesn't replace it. And
19:53
that's a great thing because if you can achieve more by doing less, you'll get wealthier. And
19:57
that's the whole idea. Knowing just what I've showed you here, you
20:00
can actually go and start implementing or consulting for companies to help them even
20:03
with the most basic things when it comes to AI. So a friend of mine, she recently met
20:06
a person who owned a lot of restaurants in the United States. They own like 79 restaurants.
20:11
And he said, I really don't know how to create an SOP, a standard operating procedure
20:14
for all my staff that really makes the business more efficient. She said, I'll do
20:18
it. So she now, right now, she's going around all the rest and she's building this
20:22
SOP for his business and he's paying her to do
20:25
it. And she's even putting in a chat GPT. This business does this, how
20:28
would you create an SOP for this business? And chat GPT is giving her the answer.
20:32
Then she's just implementing what chat GPT says. It turns you into an instant
20:36
consultant of anything, right? This is how you can get rich. Now,
20:40
the best to last, saving the best to last.
20:44
It can write the SOPs for you, standard operating procedures or algorithms, of
20:47
any business. So it does turn you into an AR consultant instantly, but
20:51
at the same time, it can also turn you into a baker and a candlestick maker. One
20:54
of my goals this year was to, for some random reason, we're at
20:58
Christmas, we're sitting around the table together at Christmas lunch, and I said to the family,
21:01
I said, family, I have one big audacious
21:05
goal I want to achieve this year, and I'd love to share it with you all. And
21:08
they looked at me with bated breath. What's it gonna be? What big
21:12
thing is it gonna be? And I said, I'm gonna bake
21:15
the stickiest, most beautiful banana bread you've ever
21:19
had. Boom, mic drop. They're like, what the heck is he talking about? But
21:22
it was a fun idea to show people that I can actually do things outside of
21:26
my comfort zone as a way to show them what they can do in business and
21:29
investing. So I wanted to use that as an example. So I was like, you know what?
21:33
I'm not a baker, but you know who is? So
21:36
I went, I'm like, please create me a very sticky banana bread that's
21:40
sticky and very banana-y. So it's like, boom, boom, boom, boom, boom, boom, boom, bang.
21:44
So I follow the recipe. I'm in the kitchen, right? First time, put it in the oven, came out,
21:48
not bad. And as a result of that, I've gotten better and better and better and
21:51
better and better. And as of this morning, I just baked My
21:54
latest batch, batch number seven for my grandmother's 90th
21:58
birthday that will go on the post today and send to her. I've turned myself into
22:01
a baker through AI. Now I could, if
22:05
I wanted to take this slice and I've taken it to the markets and sell it and get rich by
22:08
hacking AI, but I'm telling it to my grandmother for free because it's her 90th birthday. But
22:12
I'm showing you how simple it is. to leverage AI
22:15
to become an expert in almost anything as long as
22:19
you're adding your own flavor to it. So there's some examples
22:22
of how you do it. They're the 10 ways to hack AI or exploit AI to become rich.
22:26
But now I wanna show you or explain to you a couple of quick steps as to how you can
22:29
do it right now to start making money. So let's do an
22:32
example, okay? If you go to fiverr.com, F-I-V-E-R-R.com,
22:38
go and find someone there who's editing or copywriting
22:42
or Anything to do with writing or editing, you want
22:46
to find. Now find the person who's got the most five-star reviews.
22:50
Look at their profile, take a picture of it, upload it to chat to be and say,
22:53
please create me a profile that's very similar
22:56
to this. So you're actually modeling someone's profile of
23:00
how they're actually the most prevalent person who creates copy and
23:03
does editing on Fiverr. So it'll do that for you. Then you go to Fiverr and
23:06
you copy what it says to do. And you put up your profile. Then you
23:10
beat them in price. So reduce your price slightly less. And then Fiverr will
23:13
start sending people to you to actually engage you for this work. And
23:17
what you'll do is you'll then go, you'll take the job on. So you'll
23:20
say, can you please edit my ebook for me? Like, yep, I'm
23:23
a specialist. Give me your ebook. So he gives you the ebook. You then upload it
23:26
to Hatchipoutine and say, please proofread this for me. Please edit this for me. It'll
23:30
do it for you. You send it back to the client and you get paid. Right?
23:34
So a lot of people aren't leveraging AI to do the most simple things
23:37
and people are paying them to do it. I remember when I first wrote my first e-book, I
23:40
can't believe this. I paid someone $600 to write an e-book
23:44
for me. This is years ago. But I think about it now, like if I
23:47
was gonna help you write an e-book, I'd say, hey, send me your idea for your e-book. I
23:50
would let ChatGPT do it for me with a bit of idea from you and it would create
23:53
it and I would charge you, I'd make money. You can do that on Fiverr at scale on
23:57
almost anything right now. You just gotta do it. Wild,
24:01
right? And of course, this is what we teach our students how to do in our programs.
24:05
They come in to learn how to manage money, multiply money and make more money. And of course, this
24:08
is all to do with making more money leveraging AI. When you teach
24:12
people how to do these things at scale, they really do become a key person of
24:15
influence and they do attract more opportunity. They create more clients, they create more money
24:18
and they get win-win outcomes. So this is a really detailed look at how simple
24:22
it is to exploit AI to make money. So I hope
24:25
that's been a value to you. If you enjoyed this episode or this clip, click
24:28
the subscribe button, leave me a comment, which is your most favorite one? Which
24:32
one are you gonna implement the most? Comment below. And of course, leave
24:35
us a review and go check out the next episode, the Money Grows on Truth podcast.
24:39
So if you're interested in finding out what those 30 checklist items are that I
24:43
can send through chat that helps me analyze companies, it's in one of our programs. All
24:46
you need to do to get it is go grab our latest book, Money Buys Happiness and jump
24:49
into one of the free coaching sessions and you can see how to join that program. Thanks
24:53
for listening to Money Grows on Trees. If you enjoyed the episode, leave a
24:56
five-star review on Apple Podcasts and Spotify and subscribe
25:00
to us on YouTube so you never miss an episode. And if you're serious about
25:04
building wealth, make sure to check out the links in the show notes and follow me
25:07
on all social media platforms, at LloydJamesRoss for