Building a business is hard work, but the rewards can be well worth it.
- You get to be your own boss.
- You set your working hours.
- You can make $100,000 or more per year.
But not all businesses make it to that point, and in fact, many fail before making much at all. So instead of guessing, GOBankingRates asked ChatGPT, the powerful AI language model, to suggest some of the best business opportunities that pay six figures.
Ask ChatGPT for Business Ideas
To find out what business ideas can pay up to $100,000 per year — or more — you’ll simply need to ask ChatGPT.
“Hey, give me 10 business ideas that will make over $100k per year.”
Sure, here are 10 business ideas that have the potential to make over $100k per year. Keep in mind that the success of any business idea depends on various factors, such as market demand, execution, competition and more. Conduct thorough research and planning before starting any venture.
E-commerce Store Niche Products: Create an online store selling unique and niche products that have high demand but low competition. Focus on marketing and customer service to attract a loyal customer base.
Digital Marketing Agency: Start a digital marketing agency offering services like social media management, SEO, content creation and online advertising to help businesses improve their online presence.
Personal Fitness Training: If you’re passionate about fitness, become a certified personal trainer and offer one-on-one or group training sessions to clients looking to achieve their health goals.
Mobile App Development: Develop mobile apps for businesses or create your own innovative app that solves a specific problem or entertains users. Monetize through app sales or in-app advertisements.
Remote IT Support: Offer IT support services to small businesses and individuals remotely. This could include troubleshooting, software installation and network configuration.
Subscription Box Service: Curate and deliver subscription boxes with unique themes and products each month. Examples include beauty products, snacks or hobby-related items.
Online Courses and E-learning: Create and sell online courses on platforms like Udemy or Teachable in areas where you have expertise, such as photography, coding, marketing or personal development.
Property Management Company: Start a property management company to manage rental properties on behalf of owners. Earn income through fees and commissions from property rentals.
Home Cleaning and Organizing: Launch a home cleaning and organizing service that caters to busy homeowners or businesses. Provide top-notch service to build a reputation and gain referrals.
Eco-Friendly Products: Build a business around eco-friendly and sustainable products. This could involve selling eco-conscious merchandise or creating your own environmentally friendly products.
Remember that success in any business requires dedication, adaptability and a thorough understanding of your target market. Additionally, consider leveraging online platforms and social media to reach a broader audience and scale your business effectively. Always research and validate your business idea to ensure it aligns with market demands and trends.
Ask ChatGPT How To Start These Businesses
This list of business ideas are proven, with a wide range of skillsets required to start. The next step is to ask ChatGPT how to start the business, so you have a step-by-step blueprint.
“Awesome! Break down how to start each one of these.”
Certainly! Here’s a breakdown of how to start each of the business ideas mentioned earlier:
E-commerce Store Niche Products:
- Identify a niche with high demand and low competition.
- Choose a platform to build your online store (e.g., Shopify, WooCommerce).
- Source or create products that fit your niche.
- Set up your website, including product listings, payment gateways and shipping options.
- Develop a marketing strategy to drive traffic to your store (e.g., social media, influencer partnerships).
- Provide excellent customer service to build customer loyalty and positive reviews.
Digital Marketing Agency:
- Determine your specialization within digital marketing (e.g., social media, SEO, content marketing).
- Create a business plan outlining your services, target market and pricing.
- Build an online presence with a professional website and portfolio showcasing your expertise.
- Network with potential clients and industry partners.
- Deliver high-quality services to clients and focus on generating positive results.
- Ask satisfied clients for testimonials and referrals to grow your client base.
Personal Fitness Training:
- Get certified as a personal trainer through a reputable organization.
- Define your target market (e.g., athletes, seniors, weight loss).
- Decide if you’ll offer one-on-one sessions, group classes or both.
- Set up a training space or rent space in a gym/studio.
- Develop a marketing strategy to attract clients (e.g., social media, community events).
- Provide personalized training programs and excellent customer service.
Mobile App Development:
- Identify the target audience and purpose of the app.
- Learn app development skills or hire developers if you’re not a developer yourself.
- Create a prototype and test it thoroughly for usability and functionality.
- Register as a developer on app stores (e.g., Apple App Store, Google Play Store).
- Launch the app and market it to your target audience.
- Consider monetization options, such as selling the app, offering in-app purchases or displaying ads.
Remote IT Support:
- Assess your IT skills and expertise.
- Set up a dedicated workspace and necessary tools for remote support.
- Decide on the services you’ll offer, such as troubleshooting, software installation or network setup.
- Create a professional website showcasing your services and expertise.
- Market your services to small businesses and individuals in need of remote IT support.
- Provide prompt and effective support to build a good reputation.
Subscription Box Service:
- Choose a niche for your subscription box service (e.g., beauty, snacks, books).
- Source products that fit the theme and appeal to your target audience.
- Determine the pricing and frequency of the subscription (e.g., monthly, quarterly).
- Set up a website to take orders and manage subscriptions.
- Promote your subscription box through social media, influencers and partnerships.
- Ensure timely delivery and excellent customer service to retain subscribers.
Online Courses and E-learning:
- Choose a topic or skill in which you have expertise and passion.
- Plan the content and structure of your online course.
- Create high-quality course materials, such as videos, presentations and quizzes.
- Select a platform to host and sell your courses (e.g., Udemy, Teachable).
- Market your courses through online advertising, social media and partnerships.
- Engage with your students, collect feedback and continuously improve your courses.
Property Management Company:
- Research local property management regulations and requirements.
- Decide on the type of properties you’ll manage (e.g., residential, commercial).
- Obtain necessary licenses and certifications, if applicable.
- Set up a system for rent collection, property maintenance and tenant screening.
- Build a website to showcase your services and available properties.
- Market your property management services to property owners and landlords.
Home Cleaning and Organizing:
- Define the scope of your cleaning and organizing services (e.g., residential, commercial, deep cleaning).
- Set competitive pricing based on the market and services provided.
- Purchase necessary cleaning supplies and equipment.
- Market your services through local advertising, social media and word-of-mouth.
- Offer exceptional service and customer satisfaction to build a loyal client base.
- Research and identify eco-friendly products that align with your values and target market.
- Source products from sustainable suppliers or create your own eco-friendly products.
- Build an e-commerce website to showcase and sell your products.
- Emphasize your brand’s commitment to sustainability and eco-consciousness in your marketing.
- Collaborate with influencers or organizations that share similar values.
- Continuously innovate and expand your product range to attract a broader audience.
Remember, starting any business requires careful planning, research and hard work. Each of these ideas can be successful if executed well and tailored to meet the needs of your target market. Adaptability, dedication to quality and exceptional customer service will play significant roles in achieving long-term success.
Ask ChatGPT What Skills To Focus On
While this simple breakdown is a good starting point, you’ll want to dive a little deeper into how you can actually take the next steps and generate a thriving business.
You can ask ChatGPT about what skills are the most important when starting a successful business, and how to grow it to $100,000 and beyond.
“What is the No. 1 skill I need to make $100k in any business?”
The No. 1 skill you need to make $100k in any business is Sales and Marketing.
Regardless of the type of business you’re involved in, the ability to sell your products or services effectively and market them to the right audience is crucial for generating revenue and achieving financial success. Here’s why:
- Generating Revenue: Sales directly impact your revenue. The more effectively you can sell your products or services, the more income you can generate for your business.
- Customer Acquisition: Effective marketing helps attract potential customers to your business. Without customers, there is no revenue, and without revenue, it’s impossible to reach the $100k mark.
- Scaling the Business: If you want to grow your business and reach the $100k milestone, you need to scale up your operations. Sales and marketing are essential components of business scalability.
- Competitive Advantage: In competitive markets, sales and marketing can give you an edge over your rivals. It allows you to position your offerings uniquely and showcase their value to customers.
- Building Relationships: Strong sales and marketing strategies enable you to build lasting relationships with customers, leading to repeat business and positive word-of-mouth referrals.
To develop your sales and marketing skills, consider the following:
- Sales Skills: Learn how to communicate effectively, understand customer needs, handle objections and close deals. Practice active listening and empathy to connect with potential clients.
- Marketing Skills: Understand your target market and how to reach them. Learn about digital marketing, social media marketing, content marketing and other strategies to promote your business effectively.
- Customer Relationship Management: Focus on building long-term relationships with your customers. Satisfied customers are more likely to become repeat buyers and recommend your business to others.
- Continuous Learning: Stay updated with industry trends, sales techniques and marketing strategies. Attend workshops, seminars or online courses to enhance your knowledge and skills.
- Data Analysis: Use data to measure the effectiveness of your sales and marketing efforts. Analyze key performance indicators (KPIs) to identify areas for improvement and optimize your strategies.
Remember, making $100k in any business requires perseverance, adaptability and continuous improvement. While sales and marketing are essential, it’s also crucial to have a solid business plan, excellent customer service and a product or service that meets a genuine need in the market.
ChatGPT offers clear, actionable advice on starting a business, but you’ll need to dig in even more to get a complete business plan. While these beginning steps can help you choose a business to start, building a successful business requires your unique expertise and work ethic.
As ChatGPT stated, “making $100k in any business requires perseverance, adaptability and continuous improvement.” Use these prompts to generate even more business ideas on your own to help you find the perfect business to start this year!
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