The Power of Artificial Intelligence and Software in Business
Good morning! Today, I want to talk about the incredible power of artificial intelligence (AI) and software in the world of business. Over the years, my understanding and beliefs about AI have evolved, shaping the way I perceive and operate in the world.
AI and Automation
AI has revolutionized the way we work and interact with technology. One specific example is the Chat GPT AI system, which I subscribe to for $40 a month. This intelligent software has become an invaluable tool in my work and proves its worth daily. The fact that I have access to such powerful AI for a reasonable price is a testament to the advancements made possible by automating processes in the virtual world.
Choosing Software and Managing Risk
When it comes to software, I prioritize finding companies that align with my goals. One factor I consider is the size of their team. A larger team signifies more resources dedicated to developing, improving, and maintaining the software. In my opinion, this makes the software more secure because it ensures there are more people paying attention to its functioning, reducing the chances of any issues going unnoticed. In contrast, smaller companies with limited resources are more prone to critical problems that may affect their clients' access to data or the software itself.
Managing risk is crucial, regardless of whom you are purchasing from or what you are buying. Investing in reputable software with a well-established team reduces the likelihood of complications and gives you peace of mind.
Leveraging Time and Efficiency
One of the most compelling aspects of AI and software is the ability to leverage other people's expertise and time without direct interaction. This is evident in the tools I utilize for my business. Every Wednesday, during the weekly update for America's holding company, I go over the business model. We rely on various software platforms such as Chase bank, Stripe, Go High Level, and QuickBooks to solve complex problems at an incredibly affordable price.
Software has automated many intricate tasks, making it more cost-effective to rely on the solutions they provide. Thus, when selecting software, I ponder whether I want to minimize costs by doing the majority of the work myself or delegate responsibility and let someone else own the problem.
Finding Solutions and Avoiding Additional Problems
When faced with a challenge like building a human resources department to scale a business, there are two options: either building an HR department or partnering with a professional employment organization (PEO). In my experience, it is advantageous to enlist the expertise of a PEO rather than creating an entire department from scratch. By doing so, I can avoid devoting additional resources and time, and instead focus on core business operations while leaving HR matters in capable hands. This exemplifies the importance of strategic decision-making that optimizes efficiency and minimizes unnecessary burden.
Empowerment and Effective Leadership
As a leader, I firmly believe in empowering others to take ownership of their tasks and contribute their unique perspectives to achieve common goals. Micromanaging the "how" is not as crucial as cultivating an environment where individuals can navigate their own paths to produce desired results. Hiring individuals who are smarter and more capable than myself strengthens my business. Software plays a crucial role in this aspect by automating processes, allowing individuals to thrive in their specialized roles and become experts, rather than just task executors.
The Many Paths to Success
There are countless ways to succeed and make money, each tailored to individual circumstances and goals. It is important to recognize that there is no single "right" way to generate income. Whether through traditional employment, owning a business, freelancing, or utilizing platforms like Uber or DoorDash, everyone has their own unique method. The key is finding a path that aligns with your values, skills, and aspirations.
Embracing Lifelong Learning
Life is a continuous learning journey. Part of being a successful leader is constantly seeking ways to improve and empower others. I am always open to tips, ideas, and recommendations from fellow professionals on how to strengthen leadership skills and motivate teams effectively. If you have any suggestions for insightful books or tools, please let me know. I firmly believe that learning is a joyous part of life, and I am eager to expand my knowledge further.
In conclusion, the power of AI and software in business cannot be understated. Through AI, we have access to powerful tools like Chat GPT that enhance our productivity and problem-solving capabilities. By choosing reputable software with well-established teams, we can minimize risks and ensure a secure and efficient experience. Leveraging software allows us to optimize time and resources, delegate responsibility, and empower individuals to excel in their areas of expertise. Ultimately, there are countless paths to success, and embracing lifelong learning is key to evolving as a leader and achieving our goals.
Daily Podcast Journal:
0:00 - Introduction
0:43 - Talks about AI and its impact
1:39 - Benefits of using AI in software
2:04 - The importance of team size in software development
4:07 - The role of software in solving complex problems
6:05 - Choosing between in-house or outsourced solutions
10:02 - Empowering employees to own processes
12:00 - There is no right way to make money
12:07 - Seeking advice on empowering people and leadership
13:14 - Conclusion
Good morning. Good morning.
Good morning. It is January 28, I believe. I didn't even check before walking outside.
2024. It is a Sunday morning. Should be a great day.
I'm really excited. Life is. Life is such an adventure.
The invention of artificial intelligence has changed a lot of the way, I think, and not, I shouldn't say the invention of it. My understanding of it, my understanding and beliefs around how it works and how it's operated have changed a lot of how I look at the world. So if you think about it, Chat GPT is an AI artificial intelligence system that you can subscribe to for $40 a month.
I am a subscriber to it. It's pretty cool. I like it a lot.
I use it a ton in work, and it's incredibly helpful. AI is awesome, and I get all of that power for $40 a month, all because it exists in the virtual world, all because we're able to automate so many things in cyberspace that you cannot automate in the real world. Man, look how pretty that sunrise is.
Amazing. And so that's why if I look at software, if I'm going to buy a software, my goal is to find a company that is doing what I want to do, and look at how big of a team they have. The bigger their team, the more time is being put into developing and improving and maintaining that asset.
And I believe that makes it more secure because there's more people paying attention to it, there's more people watching out for it. Whereas if you're working with a company that only has two people, that company, if anything goes wrong, that can have some drastic effects on you as a client, your ability to get access to your data, your ability to get into the software, use the software. All of that is at risk if you use too small of a company in this software world.
But I think it's all about managing risk, no matter who you're buying from and what you're buying. But with AI, it's getting to the point where and software in general, you can build an incredibly powerful business you can leverage. Come on, Penny.
You can leverage so many other people's time without ever talking to anyone. So on Wednesdays, when I go over the weekly update for America's holding company, every Wednesday, I go over the business model. The business model shows you a couple different.
So, like, we use Chase bank, we use stripe, we use go high level, we use quickbooks. These different companies, I'm able to solve incredibly complex problems in my business for an incredibly cheap price because software have automated the work that needs done. And so when you're buying, when I'm buying, what I look at is, do I want to spend as little, the least amount of money possible, which means I need to be doing the bulk of the work, or do I want to not worry about how much it costs and instead let someone else own the problem? So, for example, if you are building out human resources department, you're working on scaling your business.
There's one of two ways you can go. One, you could go find a peo organization, professional employment organization, and hire them to become the employer of your employees and partner with you. In that way.
Your business model is not to build an HR department. You need an HR department to succeed. But you aren't making money off your HR department.
So in my opinion, I would rather pay more to solve that problem without adding more headcount to my team for as long as possible rather than, hey, I want to lower the cost of HR. So I'm going to hire one person who's dedicated to my company and they're responsible for doing everything, figuring everything out and managing it, versus hiring a peo, that is a team of experts who do payroll day in, day out. And it's just two different ways to look at it.
My personal opinion is I want to, especially as I'm starting out, I want to pay more, get someone who knows what they're doing, who's experienced, and let them be the expert. Let them own that problem rather than trying to hire someone. Because if you hire someone, you still own the problem.
You have to tell them what to do. You have to tell them how to do it, why to do it, all of that. The goal in hiring someone is not to get someone that you have to tell them what to do.
The goal of hiring someone is for them to tell you what needs done to accomplish the mission you are both on. At least that is my belief. I'm always looking to hire people smarter than me and more capable than me because that is how you build a successful business.
So that's what I look at when hiring. And in software, you can get all of that without ever talking to anyone. You can get all of that without spending the time building out the plan because they've already solved the problem by creating this tool, and now it's your tool to use.
I just encourage everybody to think not only about solving the problem you're working on solving, but what problems are you creating with this solution that you may not want to solve later? I'm a big fan of don't create problems you don't want to solve. I would rather take a longer time to get it going than create problems I don't want to solve. I just onboarded Rosie this weekend to doing reels and all of that stuff.
I could have been doing that all manually myself up until this point of time, but I want Rosie to own the process. And my goal is to empower her to do that by letting her create the system, letting her figure out how should it look, how should I track it, how should I document it and then showing me, because then it's her system, it's not my system. And far too often, as leaders, we want to dictate the how.
The how you get to the result is not the important thing. The result is the important thing. And so I'm trying to empower people to own the result.
There are millions of ways to get to success. There are millions of ways to make money. There is no right way to make money.
And each and every person on this planet has a way. They make money. Whether it's begging or stealing, or w two job, or running your own business, or freelancing, or uber or Doordash, it doesn't matter.
We all have our own ways. We use to make money. That's part of life.
It's part of what we go through each and every day. I enjoy it. What do you do to empower people? I would love more tips or ideas that other people use you to instill the vision of what they're building, to lead their teams, to get them bought in to where you're going.
What are your favorite tools? Are there any books I should be reading? That's a good question. If there are, please let me know. Life is learning, which is a freaking joy.
Anyways, I hope you guys all have a great Sunday. I'm sure we'll be watching some football later. Hope you do, too.
And with that said, we'll talk to you all soon. Bye.