Welcome The Friday Focus Newsletter!

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On this weeks newsletter:

Elon Musk and xAI revealed their ChatGPT competitor, Grōk.

How to Build a One-Person Business That Makes $2.5M Per Year

Improving Your Prompting Skills

An Effective Productivity Tool

Elon Musk and xAI revealed their ChatGPT competitor, Grōk.

🔑 Key Points:

Here's everything we know so far:

1. Grok has real-time access to info on 𝕏.

This is a huge advantage over other models that can only access info based on the time they were trained. Given that 𝕏 is the best place for breaking news, Grok could be huge for getting breaking news with clear and unbiased insight.

2. Unlike other chatbots, Grok has humor in its responses. I suspect this move is geared towards Elon's vision of 'WokeGPT'.

3. As per Elon, Grok will be available to all X Premium+ subscribers once it's fully out of beta. Definitely worth the upgrade.

4. More details on Grok (h/t @BrianRoemmele on X)

• 25,000 char. context window

• Screen refresh response speed

• “Live” search engine focuses on X for context

• API, Image recognition, and Audio recognition is planned

• A version of Grok will run “native” in Tesla using local compute power

If Grok "knows" anyone's X posts, it will be so intelligent, that it might just make every other chatbot sound stupid. Grok is a serious ChatGPT competitor.

Announcing Grok (x.ai)

How to Build a One-Person Business That Makes $2.5M Per Year

Do you want to quit your job and become your own boss? You can do it by starting a one-person business, also known as a solopreneur.

A solopreneur is an entrepreneur who runs a business by themselves, without any employees or partners. They use their skills, passions, and knowledge to create value for their customers and income for themselves.

One of the most successful solopreneurs is Justin Welsh, who makes $2.5 million per year from his portfolio of one-person businesses. He spends zero money on ads, operates at a 94% margin, and works from anywhere.

How did he do it? And how can you do it too?

He uses a one-person business model based on four pillars:

• Niche: Find a specific and profitable niche that you can dominate with your expertise and authority.

• Audience: Build a loyal and engaged audience that trusts you and values your content.

• Service: Create a high-ticket service that solves a problem or delivers a result for your audience.

• Product: Launch a digital product that leverages your knowledge and scales your income.

Let’s see how Justin applies each pillar to his businesses.

Niche

The first step is to find a niche that you can serve better than anyone else.

Justin’s niche is online solopreneurs who want to learn how to start, grow, and monetize their internet businesses 

To find your niche, you need to answer three questions:

1. What are you good at or passionate about?

2. What problem can you solve or what result can you deliver for your target market?

3. How can you differentiate yourself from your competitors?

Then, you need to validate your niche by doing some market research.

Audience

The second step is to build an audience that knows, likes, and trusts you. An audience is a group of people who follow you, consume your content, and engage with you online.

Justin has over 450,000 followers on Twitter and the same on LinkedIn. He creates and shares valuable and engaging content on a consistent basis, covering topics such as entrepreneurship, marketing, sales, personal growth, and productivity.

To build your audience, you need to follow these 4 steps:

1. Choose one or two platforms that suit your niche, your content, and your personality.

2. Produce high-quality and relevant content that educates, entertains, or inspires your audience.

3. Promote your content to reach more people and drive traffic to your platforms.

4. Engage with your audience by responding to comments, questions, and feedback.

Service

The third step is to create a service that you can offer to your audience. A service is a solution that you provide to your clients in exchange for money.

Justin offers several services to his audience, such as coaching, consulting, and speaking. He charges premium prices for his services, ranging from $1,000 to $10,000 per hour. He delivers his services online, using tools like Zoom, Calendly, and Stripe.

To create your service, you need to follow these 5 steps:

1. Identify a problem or a result that your audience wants to achieve.

2. Design a service that solves the problem or delivers the result for your clients.

3. Validate your service by getting feedback from your audience or offering free or discounted trials.

4. Price your service based on the value you provide, not the time you spend.

5. Market your service to your audience by creating a landing page, a sales page, and a testimonial page.

Product

The fourth and final step is to launch a product that you can sell to your audience. A product is a digital asset that you create once and sell multiple times, such as a course, a book, a podcast, or a software.

Justin has launched several products that he sells to his audience, such as The Official Guide to LinkedIn, The LinkedIn Content Marketing Playbook, and The Diversified Solopreneur. He sells his products through platforms like Gumroad, Teachable, and Podia.

To launch your product, you need to follow these 4 steps:

1. Validate your product idea by surveying your audience, creating a minimum viable product, and getting pre-orders.

2. Create your product by outlining the content, recording the videos, writing the copy, and designing the graphics.

3. Launch your product by building anticipation, creating a sales funnel, and offering bonuses and discounts.

4. Scale your product by collecting feedback, improving your product, and creating upsells and cross-sells.

Conclusion 

Building a one-person business that makes $2.5 million per year is possible. Justin Welsh is a living proof of that. He uses the one-person business model to create income, impact, and freedom for himself.

If you want to follow his footsteps, you need to find a niche, build an audience, create a service, and launch a product. You also need to use the right tools, strategies, and mindset to succeed.

AI Toolkit for Busy Entrepreneurs.

• ⚡️ Notion AI- Your notes, on steroids. Access the limitless power of AI, right inside Notion (link)

• 📊 Sheet AI- Put AI in your Google Sheets (link)

• 🖼 OpenArt- AI Image Generator (link)

• 💡 Attio Automations- Powerful, customizable automations supercharged by AI (link)

• ✍️ Copy.ai Produces ****result-grabbing copy for marketing in seconds (link)

ChatGPT Prompt

✅ Marketing Plan

Poor prompt:

• "Create a marketing plan for our new service"

This prompt is too broad and lacks specificity, making it difficult to create a comprehensive plan.

Optimized prompt:

• "Create a marketing plan for our new service launch in Q1 2024 that targets business owners aged 25-55 living in urban areas with an interest in using AI-powered insights to identify the most effective channels and messaging for each segment of our target audience. The plan should include a detailed content strategy that leverages AI-generated content to increase engagement and conversions. Additionally, the plan should incorporate AI-powered analytics to track and optimize performance in real-time”.

This prompt is highly specific and demonstrates the full potential of AI in marketing. By leveraging AI-powered insights, content, and analytics, the marketing plan can be optimized for maximum effectiveness and efficiency.

Give this prompt a try for your next marketing plan. It will give you a great starting point and clarity of everything you need to market your new service.

Opal App is a productivity app that is great for solopreneurs to remove unwanted distractions. It can help you to boost your productivity in a number of ways, including:

• Time management: Opal App helps you to track your time and identify where you are spending it. This information can then be used to optimize your time management and focus on the most important tasks.

• Task management: Opal App helps you to create and manage to-do lists, projects, and goals. It also provides features such as due dates, reminders, and priority levels to help you stay on track.

• Communication: Opal App integrates with a variety of communication tools, such as email, Slack, and Trello. This allows you to manage all of your communications from one place, which can save time and improve efficiency.

• Automations: Opal App offers a variety of automations that can help you to save time and streamline your workflows. For example, you can create an automation to automatically send a follow-up email after a meeting or to create a new project when you receive a new email from a client.

• Analytics: Opal App provides analytics that provide insights into your productivity. This information can then be used to identify areas where you can improve.

Prompt

"Create a compelling double exposure photograph that seamlessly merges the presence of a man and the wonders of nature. Capture the harmony between the human form and the natural world, using light and shadow to accentuate their connection and create a visually striking narrative."

This image was created using IDEOGRAM

Even on the days when you feel "off".

Show up for yourself.

Push through and do one small thing that moves you closer to your goals.

It might not seem like much, but it will add up over time.

Showing up for yourself is the best investment you can make.

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Hit reply and let me know what you want more of!