New Delhi: People generally have the perception that doing a business means spending a lot of money, developing a state-of-the-craft idea, and giving blood and sweat. Still, there’s no possibility that your business will take the wings or be succumbed to competition to thousands others.
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Did you have the perception the same perception like others who don’t take the risky step?
A duo named Sal Aiello and Monica Powers broke the myth by harnessing the power of generative AI and developing a valuable product with a minimal investment of $185, which was around Rs 15,000.
They developed an AI research tool named DimeADozen with the help of ChatGPT. The tool is designed to test business ideas explicitly.
In a valuable deal, the duo sold the startup with a staggering valuation of Rs 1.2 crore. a husband-and-wife team, Felipe Arosemena and Danielle de Corneille, who have skills in software and product design, saw the potential of DimeADozen and bought the business for $150,000.
How does it work?
For instance, the tool asks you to write your business name and describe it.
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Then, it asks you two more questions. Thereafter, it gives you business overview, insights of market research, launch and scale and how to raise capital.
DimeADozen is a company that started by using artificial intelligence (AI) to ask smart questions to a chatbot called ChatGPT. They got better at asking questions and realized that their approach could be useful to many people, especially those starting their own businesses. So, they created a special tool that allows people with business ideas to fill out a form. This tool uses complex computer programs to turn that information into detailed reports, analyzing things like potential investors, customers, and competitors.
What’s amazing is that DimeADozen’s tool works really well and is faster than traditional ways of doing this kind of research. They only invested $185 to start, and in just seven months, they made over $66,000 in profit.
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Even though they sold the business, the original founders, Aiello and Powers, still help out as advisors. They hope that their tool will become popular with big companies like Salesforce and be a go-to solution for businesses looking for information and insights.
