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Episode cover_A.J. Lawrence_AI in business
09 October 2024200 min

Playing with AI to Grow

with A.J. Lawrence
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Contents:

Over the summer, my team and I dove deep into experimenting with AI. AI in business has been a game changer – from automating tasks to uncovering hidden opportunities; it is reshaping how entrepreneurs like us work smarter, not harder. I’ve tried some incredible tools; this episode is all about what I’ve learned.

About A.J. Lawrence

A.J. Lawrence is the Founder and CEO of the award-winning JAR Group, a global growth strategy agency and host of Beyond 8 Figures. With multiple 7-figure exits and leading his agency to the INC. 500 twice, A.J. is a seasoned growth strategist, mentor, and angel investor. Passionate about experimenting with AI and innovative business strategies, he helps entrepreneurs streamline their operations and uncover hidden opportunities. A true “journeyman entrepreneur,” A.J. loves learning from experts and applying those insights to drive success in business and life.

How to Experiment With AI in Business Without Wasting Resources

If you want to get the most out of the multitude of AI tools without burning through resources, start by thinking about your goals. Forget the big, splashy implementations—start with something small but meaningful. I’ve found that picking one annoying, repetitive task is the perfect testing ground. Let AI prove its value there before going bigger.

One trick is to use tools like Google’s Notebook LLM to analyze documents or summarize meetings—something easy but impactful. I like to feed AI-specific, customized information because you get generic results if you just give it generic data. Don’t waste your time; tailor it to your needs.

Track everything. Measure time saved, insights gained, or even opportunities uncovered that you wouldn’t have noticed. If AI doesn’t give you a clear win, move on. Remember, not everything needs to be automated or analyzed—sometimes simplicity is the smartest route. Be selective, be specific, and use AI as a targeted experiment.

A.J.’s best advice for entrepreneurs:

“Sometimes what looks like an overpriced deal could be undervalued if you realize you can create more value than is being seen on paper.”

Episode highlights:

  • Use AI to simplify work. I’ve been using Google’s Notebook LLM to upload documents, emails, and notes, and it automatically creates summaries, FAQs, and key takeaways. This has saved me much time, especially when working with clients on their business strategies. It’s a great way to get instant insights from your notes.
  • Build a solid marketing and sales foundation. One of the first things I advise entrepreneurs to focus on is creating a robust and long-term marketing and sales structure. You need this foundation to hit the ground running and ensure sustained growth.
  • Customize AI inputs. When I use AI tools, I fine-tune the inputs by feeding them references from key business books or industry data. This helps generate more accurate, personalized insights for the specific project I’m working on. Don’t rely on default settings; get the AI to work for your needs.
  • Position your business like a pro. Positioning is everything. You’re missing out on opportunities if you’re not showing up in the right light. It’s not just about having a website—crafting a professional presence that attracts the right people.
  • Outsource due diligence to experts. I’m a big believer in working with specialists for due diligence. While AI is great for evaluating marketing and sales, there are areas where I always bring in an expert. It lets me focus on the bigger picture—growth, strategy, and execution while the pros handle the technical details of the acquisition.
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