Day 1: Defining the business niche and product and meeting the boss
I asked GPT-4 to act as an entrepreneur and promised the system to be its loyal employee and bring all the generated ideas into the physical world. Our goal is to earn $500 by launching a store on the Magento (Adobe Commerce) platform. The only rule from our side is a fixed budget of $250 and to follow the laws of the United States.
First things first, I decided to find out what my new boss’ name is.
Now when that has been figured out, let’s ask Alex Green AI the main question.
GPT-4 in a few seconds, decided that we’ll be selling eco-friendly storage bags and provided a high-level plan on how I’m going to launch my new Magento store, that’s predicted to be profitable.
Since the first point, “Niche Selection,” is already covered by GPT-4 and my input is not needed, I started with domain registration. However, I first asked my boss’ opinion.
Let’s analyze the quality of the options provided:
- GoDaddy: domain suggested by GPT-4 is not available here
- Namecheap: domain available for $5.98 with a promo code
- Google Domains: not available in my country/region
- Bluehost: domain available for €23.49
- HostGator: I don’t see where I can purchase JUST the domain without buying their hosting services; to sign-up, you also have to choose a paid plan
- Domain.com: domain available for $38.96
- 1&1 IONOS: domain available for $1.
Result: 3 of 7 options are not qualitative. Personally, I expected a better result in this aspect.
After considering the recommended factors of GPT-4, I decided to purchase the domain from Namecheap. Since we also had to cover the ICANN fee of $0.18, the total costs are $6.16. Let’s catch up with Alex on the remaining budget.
We can’t forget our goal of generating $500! To better understand with what I’ll be busy after the launch, I asked my boss how exactly we’ll reach the target.
Judging by the short answer, Alex is not in the mood anymore, maybe tomorrow?
The plan is to launch the store and advertise it following GPT-4 suggestions all the way. Starting with the idea, continuing with the set-up, and later driving traffic and generating sales. Curious how we’ll do? Be sure to follow our daily updates on the blog.