Making $190,000 Per Month with an AI Dating Assistant
Hello Tribe,
Welcome to another exciting edition of MoneyMint! We're more than just a newsletter—we're a community of go-getters, dreamers, and doers.
1.5 Million Downloads, $2.4 Million Revenue
Imagine struggling to come up with the perfect response to a flirty message. You stare at your phone, palms sweaty, mind racing. Well, fear not! A bootstrapped business has created an app that uses AI to help you flirt like a pro. 🚀
The app solves a simple but niche problem: helping you flirt better on dating platforms and social media.
Just screenshot a message, upload it to the app, and voila! You get a clever, flirty response to send back. 😉
Despite being a somewhat gimmicky product, the app has already garnered 1.5 million downloads in just 4.5 months! It seems there's a real market for AI-assisted flirting.
Users pay a hefty $7 per week to use the app after a free trial. That's right, $7 a week to outsource your flirting to a machine. What a time to be alive!
The business hasn't even explored Facebook or Google ads yet, but influencer marketing on Instagram and TikTok could be a game-changer. Just check out their competitor, Rizz!
This business proves that even a ChatGPT wrapper can be successful if it finds a unique angle. They didn't just build another generic chat app; they capitalized on a specific niche in the AI space.
The business is currently up for sale at a cool $3.5 million. Not bad for a bootstrapped venture that helps people flirt better!
This business shows that with creativity and the right angle, the possibilities in the AI space are endless!
Source: Reddit
What you can learn from the story above?
Always look for trends.
Continuously think about how you can capitalize on them.
Identify what people are willing to pay for.
Once you've covered all the basics, launch a simple version.
Don't wait too long to act on your idea.
Make $10K/Month with Non-English AI Assistants
Now, AI assistants in English are already developed, and there's a lot of competition since the above story came out.
However, creating an AI assistant in Hindi, Spanish, Filipino, or other languages is still a great opportunity. With this simple idea, I'm confident you can easily make $10,000 per month.
You can either hire developers from Fiverr to build your app or learn how to create a ChatGPT wrapper through YouTube tutorials.
From Selling on Fiverr to $20 Million Per Year Agency
Meet Garrett Mehrguth, the mastermind behind Directive – a leading search engine marketing firm for SaaS brands. But before he was rubbing elbows with the big shots, Garrett was selling SEO services on Fiverr.
Yep, Garrett started with Fiverr and now work with brands like Adobe, Samsung and WordPress.
Garrett quickly realized that working with small businesses was like the fast food of the agency world – addictive and bad for business.
He couldn't keep up with the demand, and his profits were suffering. So, he did what any sane person would do: tripled his rates and fired a bunch of clients. Savage.
Garrett knew that being a jack-of-all-trades was a recipe for disaster. So, he focused on what Directive did best: SEO and PPC.
By charging premium prices and increasing their gross profit, they could hire top talent and scale their capacity. Genius.
Garrett believes that content writing is the world's worst deliverable. It's a loss leader that can ruin relationships.
So, Directive stopped creating content altogether and focused on briefs instead. Bold move, but it paid off.
Despite being a remote agency, Garrett makes sure his account stars visit clients six times a year. He's all about building close relationships and delivering results that nobody can beat.
That's how you charge $75k a month for SEO and get away with it.
Garrett's philosophy on search is simple: it's all about your brand, not just your website.
By focusing on discoverability and positioning your logo where there's purchase intent, you can drive insane results in a short amount of time. That's the Directive difference.
Not content with just being an agency, Garrett built the Pulse – the largest SaaS database for search marketing in the world.
He even created his own algorithm called the "Directive Score" to measure a company's total search marketing investment and performance.
To ensure his team is top-notch, Garrett built an institute to teach SEO and PPC the Directive way. They have a culture of autonomy, results-driven work, and even let clients choose their consultants based on personality assessments. Talk about personalized service!
So there you have it – the story of how Garrett Mehrguth went from working on Fiverr to running an agency doing $20 million in revenue.
If you want to boost your SaaS brand's search marketing, you know who to reach out to. 📞
How to Launch Your Own Agency
Here's a simple approach:
Start by listing your services on platforms like Fiverr, Freelancer, Upwork, etc.
Gradually build your profile, hire 2-3 interns, and take on more clients.
Promote your services on social media and actively engage with potential clients.
Network with industry leaders on LinkedIn without directly promoting your services.
Ensure your value proposition is strong, such as offering the first 10 days of service for free.
Once you've established a solid client base, it's time to transition away from Fiverr.
What’s next? Follow Garrett's framework above.
Is this easy? Not at all. It might take 5-6 years to earn your clients trust and build a strong profile on platforms like Fiverr or Upwork. You'll need to stand out with exceptional service before thinking about building your agency.
But is it impossible? Definitely not. Nothing is impossible when you set your mind to achieving your goal.
If you found this newsletter informative and thought-provoking, why not forward it to someone you think would enjoy it? Forward this email and help spread the word. 😊
Thank you for reading. See you in the next newsletter.
Beautiful
I like the idea