
Kyle Balmer warns against launching an AI startup without first understanding your market. Interview people in industries you know, find recurring problems they'll pay to solve, and start with education before building a product.
Chapters
Here's why you should not start an AI business. If you want to make money with AI but you have no idea how to start, do not start an AI business. This is not meant to discourage you, but if you just rush in and start a business without identifying a specific problem, you're going to get into a world of hurt. The smart play right now is to find an industry or a specific group of businesses that are having problems that AI can solve. Look at industries that you already understand, something you've been working in, if you've been working in marketing or manufacturing or operations, and focus here. First, talk to people in the industry, find out what they think about automation, about ChatGPT, find out what their pain points are, find out if they are just not listening at all. And then start by giving advice and educating first. Don't rush in and create a product yet. Literally just start by helping people. This is not a business yet, this is advice and education. But as you help more and more people in this industry, you're going to see patterns. You're going to see the same problems coming up again and again. Once you start to see these, you can start to work out AI solutions. Only launch the actual business when clients are begging to pay you. If you want to go in depth in this process, I'm running a 30 day accelerator in February 2025. Link in bio.
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