The AI revolution is here
it's changing everything. AI agents are poised to transform industries, and traditional search engines are becoming less relevant. This shift presents a huge opportunity. You can capitalize on this, even if you're starting from scratch.
I'm going to share an 8-step framework. It will help you get rich with AI. I've personally used these steps to build and sell three software companies. I've also invested in over a hundred others. I've been building tech companies since 1997. I saw the internet boom, Web 2.0, and the mobile revolution. This AI boom feels just as big.
The Crucial First Step: Choosing the Right Industry
Picking the right industry is essential. Don't chase the newest, shiniest tech. Instead, focus on established, "boring" industries. These are often the most ripe for disruption. Remember, being too early is just as bad as being too late. So, where should you focus your efforts?
5 Industries Primed for AI Gold Rush
Here are five specific industries. Each one is full of potential for AI applications.
Supply Chain
Think about the massive logistics involved in getting products to consumers today. We live in an app-based world. This creates many challenges for companies. Forecasting, route optimization, and delivery management are all ripe for AI.
Imagine AI optimizing delivery routes in real-time. Or predicting inventory needs with greater accuracy. These are just a few examples of how AI can revolutionize supply chains.
Admin
AI is already making inroads into administrative tasks. But, there's still huge potential here. Think about AI handling billing, scheduling, filing, and sorting.
AI can also integrate with tools like Dropbox and HubSpot. It can automate repetitive administrative work. This will free up employees to focus on more strategic tasks.
Home Services
The home services market (roofing, HVAC, plumbing, etc.) is massive. It's a trillion-dollar industry. AI can automate and improve many processes. This includes dispatch, scheduling, and customer communication.
Imagine AI optimizing truck routes. Or predicting when equipment needs maintenance. The possibilities are endless.
Legal Services
Many people start experimenting with AI in legal services. They use it for contract analysis and drafting. Last week, I used AI to review a deal. It identified key questions I should ask. My legal team was impressed.
Tools that implement structure and workflow into legal processes will be very valuable.
Team Training
I'm particularly excited about AI's potential in team training. Imagine every company having an AI "buddy" for onboarding. This AI could join Zoom calls and have access to all company SOPs and processes.
This AI could answer employees' questions in real-time. It would make everyone more efficient.
Step 2: Picking the Right Margin Model
Margins are critical. They act as a moat, protecting your business. A margin is the difference between your selling price and your cost. For example, if you sell a product for $100 and it costs you $20, your margin is $80 (80%).
Avoid businesses with low margins (20-30%). Restaurants and brick-and-mortar stores often have high overhead. They're not ideal for pairing with AI.
The Four High-Margin AI Business Models for 2025
Here are four AI business models with excellent margins. They're perfect for 2025 and beyond.
AI Services (70% Gross Margin)
This involves building workflow and automation solutions for businesses. You can use tools like Zapier, Make (formerly Integromat), and Gumloop.
For example, you could automate customer onboarding for a SaaS company.
AI Consulting (80% Gross Margin)
This is a more hands-on approach. You help businesses develop AI strategies. The goal is to become "AI-first." Don't get left behind.
Imagine helping a law firm implement AI for legal research.
AI Software (90% Gross Margin)
This involves creating software where AI is the core function. Many AI solutions are powered by text, voice, or run in the backend.
Martell Ventures is building an AI-powered business dashboard. It will tell you where the problems are in your business and how to fix them.
AI Digital Products (95% Gross Margin)
Digital products are highly scalable and have low costs. People are building huge audiences and monetizing with AI-based digital products.
Dave Eilar has a community of 15,000 people. He monetizes it using digital products.
Step 3: Sell to a Rich Customer
Dan Kennedy said: "It's easier to make a million dollars selling to millionaires than to make a million selling to everyone." Target millionaires in those "boring" industries. How do you find them?
5 Hacks to Meet Millionaires in Your Niche
Here are five effective strategies to connect with wealthy clients.
Industry-Specific Events
Attend or even create these events. When I moved to San Francisco in 2008, I volunteered at events. This gave me access to the speakers' green room.
Hyper-Personalized Email
Write unique, targeted emails. Years ago, I received a cold email from a guy named Chris. It was so personalized that I gave him a shot. Chris now makes seven figures working on my team.
Offer an Interview (Podcast)
Podcasting is a powerful tool. It allows you to interview potential clients. It's a form of "flattery marketing." Offer to interview them on your podcast. This can lead to further conversations and opportunities.
Host a Meetup
Organize simple meetups or Zoom calls. People want to connect with like-minded individuals. A casual gathering can foster knowledge sharing and relationship building.
Host a Founders Dinner
Organize themed dinners focused on AI. I'm planning AI-focused founders' events. Find and invite relevant people from platforms like Twitter. "Breaking bread" can create strong connections.
Step 4: Create a High Cash Flow Offer
Cash flow is more important than profit and margin. It's essential for business growth. When I was building Spheric, rapid growth strained our cash flow.
Key Components of a High Cash Flow Offer
Here's how to create an offer that fuels your growth.
Anchor Pricing
Include a very expensive option (3-5x higher than the second tier). This makes the other options look more attractive. For example, structure your AI consulting pricing with a high-end option.
Implement Scarcity
Create a sense of urgency. Limit the number of available spots. Require a deposit to lock in a place.
Add a Bonus
Offer a bonus that solves the next problem your customer will face. For example, offer free team training after building an AI agent. Make the bonus even more valuable than the initial offer.
Volume Pricing
This isn't a discount. It's a reward for buying in bulk. Offer a discount for multi-year contracts or multiple software seats. Get that upfront cash flow.
If you want my internal offer template, find me on Instagram @danmartell2 and ask for the "YouTube Offer".
Step 5: Sell Before You Build
Don't spend time and money building a solution before validating demand. No business survives first contact with the customer unchanged. Pre-selling funds development. It also ensures product-market fit.
4 Key Steps to Pre-Sell Your AI Solution
Here's how to validate your idea before building.
Prototype
Create a prototype to showcase your solution. Use tools like Figma, Balsamiq, or InVision. Create photorealistic simulations for demos.
Find Your Early Adopters
These are people willing to take risks and co-create the solution. They're your "Founding 50". Offer them bonuses like team time or roadmap influence.
Ask for Advice
Asking for advice is often more effective than selling. As Pitbull said: "If you ask for money, you'll get advice. If you ask for advice, you get money twice." Reach out on LinkedIn and ask for feedback on your prototype.
One Conversion Tool
Focus on a single conversion channel. Use partner webinars, social media sales, or outbound calls. Automate and optimize that channel with relevant tools. For sales by chat, use Revio.
Step 6: Build Your MVP (Minimum Viable Product)
An entrepreneur spent $3 million on software that nobody wanted. Don't do that. Build a minimal viable product (MVP) to validate your solution.
How to Build an AI MVP Without Breaking the Bank
Here's how to keep your costs down.
No-Code
Use pre-made no-code tools like Gumloop, GoHighLevel, and Make (formerly Integromat). Most AI solutions can be built using these platforms.
AI Code
Use AI-powered coding platforms. Try tools like Replit, Bolt, and Cursor. Use ChatGPT to write code and guide development.
Hire an AI Developer
Start with a test project to evaluate skills and fit. Have pre-sales wireframes and solutions to provide the developer.
Step 7: Automate the Delivery
Automation turns your offer into a machine. It works while you sleep. Rachel was overwhelmed by her agency workload. It was because she didn't automate. Automate busy work. Focus on high-value activities.
Four Key Areas to Automate in Your Business
Here's where to focus your automation efforts.
Purchasing
Automate payment processing. Use tools like Stripe, Webflow, and Gumloop.
Account Login and Setups
Automate account creation and membership setup. Use Membership.io to automate membership experiences.
Onboarding
Use Typeform to automate client information intake. Use AI to process the information.
Support
Create a knowledge base for support questions. Use AI to scan incoming emails. Automatically reply with relevant answers. The AI support agent will improve as the knowledge base grows.
Step 8: Get Greedy
"Getting greedy" means focusing on long-term wealth creation, not short-term gains. An entrepreneur sold too early. Don't make the same mistake.
The Three S's of Creating AI Wealth
Think about these three strategies.
Sell (Short-Term Greed)
Build a small app or service. Sell it for a quick profit. You won't gain much experience.
Scale
Keep a profitable business. Continue to grow it. Chris from Wistia chose to scale his business instead of selling.
Stack
Build a portfolio of companies. Martell Ventures builds technology for small businesses. If you're building an AI-first software company, connect with me on Instagram.
The AI revolution is here. By following these eight steps, you can position yourself for success. Focus on the right industries, build high-margin offers, and automate your processes. You'll be well on your way to getting rich in the new era of AI.
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