Monday Memo
A Byte of Knowledge
Imagine every problem you face as a lock, each with a unique shape and complexity. Humans carry a set of keys (our skills and abilities) that we use to unlock these problems. Some locks open easily with our keys because they match our natural abilities—like social interactions or emotional intelligence.
However, there are locks with designs so complex that our keys struggle to find a fit. Like mass data analysis or identifying patterns beyond our immediate perception. While these are "hard human problems", they're NOT "hard AI problems."
AI is equipped with a different set of keys designed specifically for those complex locks. And it can solve difficult or even once impossible problems with ease. You must know what "hard human problems" in your business or profession are now easy AI problems. If you don't, you risk getting passed up by those who do.
Something to Ponder
The byte above reminds us of something marketing legend Dan Kennedy once talked about. He said a significant mistake many people make is spending too much time on $15 an hour jobs. As a result, they never get to the $100 an hour jobs:
Marketing to bring in new customers and to keep customers coming back.
Dan used restaurant owners as an example. They seem to be terminally inflicted with the belief that they must be the one making the sauce, greeting the guests at the door, and doing the inventory.
Are you making this same blunder? If so, ask yourself if any of these $15 per hour jobs can be handled by AI instead?
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We Asked – AI Answered
Our Question: “How do seasonal businesses (like Halloween stores) successfully turn a yearly profit even though they're only open for a short time each year?"
ChatGPT's Answer: Seasonal businesses face the unique challenge of making most of their income during a short period of the year. To stay profitable year-round, they use several strategies:
Limited-Time Pop-Up Stores - These businesses often operate as pop-up stores, opening just for the season. This way, they avoid paying rent for a full year, cutting down on one of the biggest costs.
Budgeting and Cash Flow Management -They carefully manage their budget and cash flow, saving enough from the peak season to cover expenses during the off-season. This might include negotiating with suppliers for better payment terms or taking out loans to cover short-term needs.
Inventory Management - Seasonal businesses must be experts in managing their inventory. They typically buy their inventory in advance and must sell through most of it during the season. They use deep discounts post-season to clear out remaining items and may store popular, non-perishable items for the next season.
Leveraging Seasonal Staff - Hiring temporary staff for the busy season helps keep labor costs variable rather than fixed, adjusting to the business's needs.
Product Diversification - Offering products for other holidays or events, such as Christmas, Easter, and parties. Providing services related to their products, like party planning or event consulting.
GOT 15 SECONDS?
Thanks for reading our new weekly "Monday Memo" edition.
Until next time!
The AI Marketers
P.S. Want to automate your marketing with AI? Let us know what problems you want us to solve with AI and we’ll put our dedicated team to solving it. If we make the code, we’ll share it with you.
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