AI

Before I can provide informed answers to your list of questions, it would be helpful for me to understand more about your background, current situation, goals, and resources. Please allow me to ask you some questions to gather this context:

1. What is your current profession or line of work? Do you have experience running businesses before?
2. What specific skills, expertise, or qualifications do you possess that are relevant to the potential AI consulting or art coaching businesses?
3. Do you have any existing client base, network, or portfolio to build upon for these businesses?
4. What are your primary motivations or goals in starting these businesses? Is it mainly for income, personal fulfillment, or a combination of factors?
5. What is your current financial situation? Do you have savings, investments, or other sources of income to support yourself as you build these businesses?
6. How much time and effort are you able to dedicate to these business endeavors on a weekly or monthly basis?
7. Do you have any partners, team members, or support system in place to assist with these business ventures?
8. What is your level of expertise or familiarity with AI technologies, and what specific areas of AI are you most knowledgeable about?
9. For the art coaching business, what is your artistic background, medium, or areas of expertise?
10. Have you conducted any market research or identified potential target audiences for your services?

Please provide as much relevant detail as possible in response to these questions. The more context I have about your specific situation and goals, the better I can tailor my advice and recommendations.

Me

1. I currently work as an AI consultant where I do advisory and coding services for large companies. I also do a little coaching of artists on the side.
2. I studied art for many years, went to a magnet art program in high school, and got a full ride to college for art. I have also started a non-profit children’s magazine when I was in middle school with my sister that used comics and cartoons to talk about social issues. The magazine is no longer running but when it was, we won over 26k in grants. I studied art and mechanical engineering in college, and worked in the software industry for over 6 years and have focused the last year on generative AI and large language models.
3. I do have an art portfolio, I don’t really have a strong client base, maybe a 2 or 3 who may not be ready to by. I am working on my network, I do have some connections on linkedin that I have not fully tapped into. I estimate maybe 20 or 30 solid connections on linkedin (even though I have over 1000 total connections).
4. It was personal fulfillment, I feel art coaching makes me really happy, I want to see more artistic masterpieces in the world and I feel I’m really good at coaching. AI is also really interesting for me and I think I’m really skilled at designing clever AI solutions.
5. Yes, I have a 40k emergency fund, 120k in stocks, and about 35k in cash. I also still do some AI contract work that nets me about 4k per month (which about covers my living expenses)
6. I have to work 24 hours per week on the AI contract, I’m willing to dedicate another 24 hours on these ventures
7. I don’t really have anyone. I do have a girlfriend who is supportive but she doesn’t really understand the space. I have a life coach, and also a good friend who also wants to start businesses.
8. I have a pretty advanced level of knowledge when it comes to generative AI and more basic knowledge on AI in general for other types of machine learning
9. My background is in painting, but I also sing, play the piano, dance and write
10. I did a bit of market research for my Art coaching business. It told me that people struggle with a couple of things: balancing art with a different fulltime job, they miss a community, and sometimes need inspiration

AI

Thank you for providing such detailed context about your situation. Based on the information you’ve shared, here are my thoughts and recommendations:

1. What should you focus on first?
   With your background in both AI and art, I would recommend focusing initial efforts on building up your art coaching business first. This aligns with your passion, leverages your artistic expertise directly, and can be a lower-risk entry point compared to starting an AI consulting firm from scratch.
2. How to divide what you want to do into steps?
   For the art coaching business: 1) Build out service offerings and pricing 2) Create marketing materials and online presence 3) Tap your existing network for first clients 4) Continuously improve/expand offerings based on client feedback

For AI consulting: 1) Define your niche and unique value prop 2) Build case studies from past work 3) Network and prospect for clients 4) Decide pricing/engagement models

3. AI or Art Coaching?
   Focus primarily on art coaching initially, using your passion as a competitive advantage. Maintain AI skills through contract work while validating the coaching business.
4. Should you do AI consulting?
   Yes, AI consulting can be very lucrative, but wait to fully commit until the art coaching business has traction. Use contract work to learn the consulting landscape.
5. Finding a partner?
   Having a partner can be helpful for AI consulting eventually, but for art coaching, it’s better to lead solo initially to control vision and branding. Hire contractors/staff later if needed.
6. Legal business setup?
   For simplicity, operate the art coaching under a sole proprietorship to start. Incorporate (LLC or Corp) for AI consulting when you’re ready to go full-time.
7. Make life easier?
   Prioritize optimizing your energy and focus. Batch routine tasks, automate what you can, and protect deep work time for high-leverage activities.
8. Marketing businesses?
   Art coaching: Build an online presence (portfolio site, social media, content marketing). Network locally. Get featured on relevant platforms/communities.
   AI consulting: Content marketing, networking, prospect outreach, referral partnerships.
9. What are you missing?
   A formalized business plan and growth strategy for each venture. Dedicate time to properly scope, plan, and set measurable goals.
10. Art coaching success without burnout?
    Set boundaries from the start. Limit number of active clients. Build passive income streams like courses/workshops. Focus on your unique methodology.
11. Maintain AI expertise?
    The contract work helps. Also, publish content, study the latest research/trends, and collaborate on code projects with others.
12. Make it fun while achieving goals?
    Celebrate small wins. Inject creativity into your work. Spend time with supportive people. And be sure to safeguard work-life balance.
13. Something to start succeeding at today?
    Update your portfolio site and start promoting it. Reach out to warm connections about art coaching services. Attend/participate in art events.
14. Are your goals properly scoped?
    Your goals seem reasonable, though having finite milestones will help measure progress. Adjust as needed based on traction.
15. Speed up progress today?
    Conduct a time audit. Identify low-leverage activities to reduce/eliminate. Also, batch similar tasks for efficiency.
16. Make a lot of money in a month?
    With your skillset, freelance AI projects could generate sizable income quickly, though likely requiring intense effort that month.
17. Small shift for massive impact?
    Consistently publishing valuable content and leveraging your existing network can be high-impact, low-effort activities.
18. What to hire out?
    Once cash flows allow, hire for time-consuming tasks that don’t directly generate value (administrative, marketing execution, etc).
19. Make you happier/more successful today?
    Spend an hour reviewing your goals/vision. Realign your daily priorities accordingly. Then tackle one high-impact step for each business.

The key will be patience, persistent effort, and continuous optimization based on what data tells you. Let me know if any other questions come up!

Here is my dream life:

• Part time accountant: 2.2k-3.2k
• Full time videographer: 4.3k-6.4k
• Full time editor: 4.8k-6.9k
• Apartment or down payment on house: 3k
• Art studio 2k
• Massage everyday: 1.7k-3.6k
• Therapist 2 times a week: 2.8k
• High end business coach: 4k
• Eat out at a nice dinner 3 times per week: 1.2k
• Fly first class to a destination with a plus one, with a nice airbnb every month: 5k
• Organic high quality groceries: 1k
• Nice quality clothes: 1k-2.3k

Total: 28.2k-41.4k

Per Year: 338.4k-496.8k

If I wanted to save 50%: 676.8k-993.6k

Before taxes that would be: 1.091M-1.601M

Meaning each month I would have to bring in: 90.1k-133.4k per month

I realize that this is more of an end goal. To get to the place I want to be right now, I don’t need to make enough to save 50%. That can come later. I highly suspect that having a great business coach, massages, and a therapist will enable me to double and triple my income.

So lets take another look at the numbers. What is the bare minimum I need to get into this lifestyle?

338.4k per year -> 531.8k before taxes

44.3k per month

If we were to operate on the Parrado Principal just for coaching:

• 80% from group coaching: 355 group coaching clients | 20% from one on one: 6 one on one clients
• 80% from art coaching: 425.4k | 20% from AI consulting 106.4k

Questions for myself:

1. What should I focus on first?
2. How do I divide what I want to do into steps?
3. What should I focus on, AI or Art Coaching?
4. Should I even do AI consulting?
5. Should I try to find a partner for AI consulting? Should I wait until I find a partner to do anything?
6. How do I want to legally set up my companies?
7. How do I make my life easier?
8. How do I market my businesses?
9. What is something that I’m missing?
10. How do I make my art coaching business succeed in a way that doesn’t destroy my peace?
11. How do I maintain my AI expertise? How do I make progress without being overwhelmed and unfocused?
12. What will make my life more fun while making big strides in my businesses?
13. Is there something I can start succeeding at today?
14. Am I aiming at the right goals? Are they too small? Too large?
15. What can I do today to rapidly speed up my progress?
16. If I wanted to make a lot of money, enough to live on in the next year, and I wanted to make this money in a month with my current skillset, what should I do?
17. Is there a small shift I can make that will have a massive impact on my income/success?
18. What should I be hiring someone else to do? What things will have a good return on my investment, make me money not lose money?
19. What should I do today that will make me happier and more successful?

My intuitive answers:

1. What should I focus on first?
   • You want to focus on the fundamentals: sleep, meditation, food, emotional processing
   • The stronger the fundamentals are, the more you will be able to handle anything
2. How do I divide what I want to do into steps?
   • Picture some of your immediate goals that make you feel excited, give you energy, make them small enough to understand, and work on meeting those goals first
3. What should I focus on, AI or Art Coaching?
   • It depends on what you want to do, to create a large business, AI makes more sense
   • For creating a smaller business, focus on Art Coaching
4. Should I even do AI consulting?
   • Yes of course, there is a really good business opportunity here
   • If you mean at the same time as Art coaching, the answer is it depends, you will have to pick a priority
5. Should I try to find a partner for AI consulting? Should I wait until I find a partner to do anything?
   • No you shouldn’t wait, you can start by yourself
   • Yes, you should look for a partner while you are looking for clients, you are developing a network for both
6. How do I want to legally set up my companies?
   • Depends on how easy it is to change, the benefits of separating them, etc.
7. How do I make my life easier?
   • Stop doing everything alone, work with other people
8. How do I market my businesses?
   • Ask other people for ideas
9. What is something that I’m missing?
   • You are missing a business coach/mentor
10. How do I make my art coaching business succeed in a way that doesn’t destroy my peace?
    • You write about your challenges and experiences, to approach the business like an opportunity for personal growth
11. How do I maintain my AI expertise? How do I make progress without being overwhelmed and unfocused?
    • The best way is if you could connect the art coaching with AI and AI with art coaching, if you could find a way for them to be symbiotic, that would be the easiest way
    • The other way is to find a simple and easy way to make money from AI
12. What will make my life more fun while making big strides in my businesses?
    • I think maybe posting about your process/journey on social media
    • Hosting events and meeting people
    • Speaking at events
    • Creating strong boundaries for doing other things unrelated to business
13. Is there something I can start succeeding at today?
    • Yes, focus on the fundamentals, they are the most important part
14. Am I aiming at the right goals? Are they too small? Too large?
    • I think you are focused on the right goals, but maybe it is too early to be thinking about timelines, just create a bunch of attainable goals and work through them with no timeline in mind
15. What can I do today to rapidly speed up my progress?
    • Meditate
    • Sleep as much as possible
    • Find a mastermind
16. If I wanted to make a lot of money, enough to live on in the next year, and I wanted to make this money in a month with my current skillset, what should I do?
    • Teaching people would probably be the best way, that is probably your strongest skillset at the moment
    • Probably not the best use of your time for your goals
17. Is there a small shift I can make that will have a massive impact on my income/success?
    • Yes, write down goals and look at them everyday
18. What should I be hiring someone else to do? What things will have a good return on my investment, make me money not lose money?
    • Finding a good video editor or social media manager
    • Marketing is key and you need to work with people to get good at it
19. What should I do today that will make me happier and more successful?
    • Remember your mission(s) and focus on them

Questions Raised:

1. Should I drop something to focus on my art coaching or AI consulting?
2. What is the hungry crowd for my coaching, for my consulting?
3. How do I build my businesses for the long game?
4. Do I not pay myself the whole salary?