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Are you staring at flatlining revenue month after month wondering why you can’t get your business to take off?

Or do you want to expand into new offerings but always second guess whether they’ll actually sell?

Look no further.

This is Ole from AI Solopreneur, the newsletter that helps solopreneurs streamline their business, make more money, and work less using AI.

(and, occasionally, how to make better pesto)

Today, I’ll show you how to find and validate new profit ideas for your business using ChatGPT, so you can filter out bad ones and double down on proven winners.

You’ll discover:

• The “All-in” mistake that’s costing solopreneurs years of work validating ideas

• How to use constrained market experiments to fail small and win big almost every time

• Why the “J Curve” effect means you can fail 9/10 times and still be hyper-successful

• How to explore 10 new profit streams for your business in 3 minutes with the Vector Validator prompt

Let’s d-d-d-d-dive in! 🤿

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The “All-in” mistake that’s costing solopreneurs years of work validating ideas

As solopreneurs, we often go “all in” on one idea because it seems exciting — before confirming real demand.

The result?

80% of new businesses fail without proper validation…

…causing wasted time and money.

This only gets worse because solopreneurs like us don’t have any co-founders to call out our worst ideas.

Another way I like to look at this:

We suck 10X more at predicting the future than we think.

I learned this firsthand in the volatile crypto markets, where even the best analysts couldn’t see into the future.

You need conviction to be an entrepreneur, but overconfidence blinds you.

That’s why the best way to build out a new profit stream isn’t to ask:

“What profit idea do I believe the most in?”

But instead:

“What profit idea do I have the most evidence for?”

Instead of going all-in on one idea (or crypto coin, stock, etc) right away, you want to “de-risk” your bet by conducting constrained market experiments.

How to use constrained market experiments to fail small and win big almost every time

A constrained market experiment is a small, limited-scope test to validate an idea.

These experiments are so powerful because they allow you to gather real market feedback without a big upfront investment.

This leads to 3 big benefits:

• Low commitment (so you can cut losses quickly)

• Real market feedback (instead of you guessing demand)

• Avoid big failures (instead, you may fail “small” 10 times)

Here’s my most recent example of this:

2 months ago, in October this year, I decided to build out the AI Solopreneur Premium.

The idea was to make 4 of the 8 monthly newsletters twice as valuable, and to make it a new paid newsletter.

I expected 3-5% of readers to buy the product based on other creators’ info.

So I built a waitlist. Wrote 4 sample editions.

But when the launch came, only 0.058% of my readers signed up for the newsletter — far below my expectations.

Because it failed, I didn’t build out the offering.

Yet, if I hadn’t tested the idea, I may have just launched a paid newsletter for 6 months and wasted 100s of hours on it.

And there’s a real explanation why de-risking many ideas beats betting big on one:

Why the “J Curve” effect means you can fail 9/10 times and still be hyper-successful

The J Curve effect is a concept borrowed from angel investing.

This concept is that the “failed” projects fail much faster than your winner wins.

That means you may see a negative return in the beginning by testing many ideas.

But after you’ve found 1 idea that works really well, it 100X:es the return, and “bails out” the failed ones.

By testing 10 ideas instead of going all in on 1, you mitigate risk through diversification.

If 9 ideas fail but 1 takes off, you still win.

(in angel investing, usually 1 great investment “bails out” the remaining 9)

Now, let’s leverage AI for this!

How to explore 10 new profit streams for your business in 3 minutes with the Vector Validator prompt

This prompt helps you identify new profit streams uniquely fit to your business and experiments to validate them (including benchmarks):

I want you to act as Vector Validator, an AI specialized in brainstorming new profit streams uniquely relevant to my business and experiments to test the new streams' effectiveness.

For context, [INSERT CONTEXT]

Now, I want you to do the following:

1) Silently analyze my business situation based on the context I gave you
2) Come up with 10 genius, overlooked ways to develop new profit streams based on my current situation that you believe play to my strengths based on the context provided. 

Output each recommendation in this way:

*[Insert Profit Stream Method]*

*Why it's a good fit* [Explain why you believe the profit stream method makes sense in 2-3 sentences]

*How to de-risk*: [Come up with a low-risk and low time-commitment way to test the demand for this profit stream. Also, recommend a tangible benchmark (like a number or percentage) that makes the test a success and/or failure]

Constraints:

1) The suggested benchmarks should be high and dependent on real buying interest. People vote with their wallets.
2) The suggested profit streams should be moonshots that have at least a 10X potential of my current business size. 

Here’s an example of it’s output:

If you wanna join a psychedelic AI Solopreneur retreat or found a media syndicate with me, reply to this email lol

Continue the chat

WRAP UP

I’m sending you this letter from a Hotel Co-working in Berlin.

The Christmas vibes are getting to me slowly.

(That’s why I’m already rocking these comfy slippers).

Hotel SPA is calling for me now.

I mean, can it get any better than this?

Keep diving,

Ole

P.S.

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