Why You Must Start Using ChatGPT Today...

Hey, welcome. In this video, I'm going to share with you why every accounting firm should be using ChatGPT. And I'm going to also share with you five things that it's great for to help you give some, get some ideas and get you started. So let's go to that video now.

So my name is Mark Wickersham. I'm an accountant and the author of Effective Pricing for Accountants. I help accountants make more money and build more successful accounting firms. And you really must be using ChatGPT. It's incredible. It was launched in November 2022 to the public and I've been using it and my team's been using it, immersed in it, using it every day. But because it is saving us hours of time, think of it as your virtual personal assistant. Think of it as your new team member, somebody that you can give it tasks to do. And there's some things that it can do that it's extraordinarily good at. Bottom line is you should be using it because firstly, it's going to save you money. It's going to save you money for all sorts of reasons, partly because you can hire less people, because this can do stu. This can do stuff far quicker and more effectively than people if we use it for the right things in the right way. I'm going to share with you in a short while five great things that you can use it for, things it's very, very good at. But ultimately what it really does is it saves you time, huge amounts of time. And that's why I use it every single day. It's my go to place for, for creating content, for coming up with ideas because it comes up, it's so powerful, as you will see now, there are some weaknesses, there are things that you must be aware of, and I've done that in a separate video. We've done a video on the five weaknesses of ChatGPT that you absolutely must know about. So make sure that if you've not seen that video, go and check that one next. You need to be aware what it's not so good at. But once you, as long as you're aware of that, as long as you know the shortcomings and what you shouldn't be using it for, or what you should be using it for, but with care, then you will get, you'll be able to get great results from it. So let's dive into what are those five things that it's particularly good at that's useful for us in the accounting profession? So the first thing is it's great for content creation, creating content. And that might be from a marketing point of view, it could be content marketing. It's great for creating ebooks, blog posts, social media posts, that kind of content is really good. But also any other form of content like reports for clients. I'm going to do a video where I'm going to go through and I'm going to open up ChatGPT and walk you through exactly some step by step prompts that you can give it, things that you can do, really, really practical. So watch out for that video. We'll probably put that below as well. Oh, and by the way, I need to tell you, I do have some free resources for you as well. I'll tell you about that at the end. So watch this space. If you want more support, some more free stuff, I have plenty of stuff for you. So that's the first thing though. It's great for creating content. The second thing that it's really good at is ideation, coming up with ideas. And that's something that I use it for regularly, possibly the most common, common use I have for it. If I want some ideas, if you want to know, for example, some strategies to help you build a more successful firm, put it into ChatGPT and see what it comes up with. Probably some really good stuff. If you want some ideas to help your client, it's great for that. If you want ideas for content, if you want, if you want ideas for things like what blog post could you write? If you want to create perhaps some training videos or you want to create, perhaps you want to create.

Some live streams, you could get ideas for what the content might be, what you might teach, and so on. If you're building your website, you could get it to create ideas for you, for great things to have within your website. It's endless. There are so many things that you could do when it comes to using it to help you come up with ideas. So as I said, think of it as your virtual personal assistant. It's someone that you can bounce ideas off. And one of the great things about it, and the reason why earlier I described it as being like your latest employee or your virtual personal assistant, is one of the things that differentiates ChatGPT, which by the way is a large language model, what differentiates it from traditional search engines, for example, is that within the confines of a chat, you can have a conversation, you can go backwards and forwards. It remembers earlier things in the conversation. So just like when you are talking to an employer, you give them a task to do. Then it comes back and something might be wrong. You want them to change something, you go back and ask them to change it. Then they come back again, you give them some feedback and you might want to add something extra to it. Think of it like that. Whereas a search in, for example, Google, once you're done a search, the next search you do is completely independent and separate. You can't have this ongoing conversation. So we've covered two ideas so far. It's great for content creation. Number two, it's great for ideas. A third thing it's very good at is data analysis. Analyzing data, analyzing numbers. So obviously, if you're an accounting professional, then you're using numbers all of the time and it's very, very powerful. Again, I'm going to do another video where we look at some very practical use cases and I will open up ChatGPT and I will show you exactly how you can analyze numbers, how you can analyze data. This is so powerful. You're going to love this if you're an accounting professional. So again, I'll put the link to that video either at the end or below. So data analysis, also text analysis, it's a large language model. It's great with text. Text. And so analyzing text is, it's brilliant at it. For example, summarizing an article is great with spotting errors, spotting spelling mistakes, grammatical errors. There are so many different ways that you can use it for analyzing a piece of text and then giving you suggestions, improvements, summaries, and so on. That's number four. Are you enjoying this so far? If you are, then please, of course do the usual please hit that like button if you find it valuable. So far we've still got number five to share with you. And if you are not yet subscribed, hit the subscribe button and then the bell notification. That way you'll get notification as I create more videos on our channel, we teach primarily how accountants and bookkeepers can master value pricing, how we can price more effectively. But we also teach marketing strategy and, and how to get more out of ChatGPT and other AI. So if those topics are of interest to you, subscribe and check out the other videos. Also, I have a couple of free resources for you as well, which I will tell you about in a second. But let's go on to number five. So number five, and this might not seem relevant to you at first if you are an accounting professional, but one of the things that ChatGPT is particularly good at, one of its strengths is coding. And I know that coders are going crazy over ChatGPT. It's extraordinary how good it is at coding. But you're probably thinking right now, yes, but Mark, I'm an accountant, I don't do coding. No, I don't either. But one of the things that you possibly do use, though, being a numbers person is something like Excel, Google Sheets, some form of spreadsheet. Now, I don't use Google Sheets, I use Excel. And with Excel, one of the things that Chat GPT is very, very good at is helping you with things like formulas. So if you're not sure the formula for something, it can teach you and tell you what formulas should be you should be using. And also if you, if you are wanting to automate some of your workflow using Excel, then as you probably know, you can write macros. And even if you've never written a macro before, you have no idea how to write macros in Excel. It's one of the things that surprisingly, Chat GPT is very, very good at. It will, if you ask the right prompts, it will help you write the macro. It'll give you the code so that you can just simply cut and paste it into the Visual Basic editor inside Excel and it will run your macros. I'm going to do, I will probably do another video on that at some point in the future. So watch out for, watch out for some videos on ChatGPT and Excel. It's brilliant for that. So let me summarize. So you absolutely need to be on ChatGPT because it's going to save you money because you won't have to hire, for example, copywriters, marketers and so on. You can do more yourself. But more importantly, it will save you hours of time. It's great for certain things. Content creation, coming up with ideas, data analysis, text analysis and coding, particularly Excel is probably what you're most interested in. But you must be aware of the weaknesses. So watch out for my other YouTube videos where I'll talk you through the five weaknesses and the other video I'm going to share with you some use cases. I'm going to open up ChatGPT and we're going to work through some real examples so you can see how it works. So if you've liked this, please hit the like button. Subscribe. But also I have, I promised you I have some free resources. So first resource I want to tell you about is we wrote recently an ebook on ChatGPT for accounting professionals. It looks a little bit like this. It's about 30 odd pages full of tips, advice, how to get the best out of ChatGPT with lots of worked examples, use cases that you can use them yourself or inspire you with other ways that you can use ChatGPT.

Also we have a Facebook group. We have two Facebook groups, one for the accounting profession generally, but one where called AI and ChatGPT for accountants and bookkeepers. So check that out. It's a great place to ask us questions and to interact with other people. And last but not least, if you want to go Even deeper on ChatGPT, then we have a complete training program where we teach you what how to use it. And at the moment that cheat chatgpt training we are giving away as a bonus to members of one of our pricing academies. And so if you're not part of our academy yet, the best place to start working with us is the Profitable Growth Academy. I'll put the link below. You can go and browse through and see how we teach you to build a more successful, profitable accounting firm. And as well as all the information you'll find on this page, we also have this bonus training ChatGPT for accountants and Bookkeepers. Thank you for watching this video and I will hopefully see you on another video very soon. Bye for now.