Imagine a world where words are the key to unlocking untold opportunities. In this world, a lone dreamer — let’s call them Jordan — discovers the power of Large Language Models (LLMs) and sees a path to turn their passion for technology into a profitable side hustle. This is not a fairy tale; this is the world of SaaS, and you, like Jordan, can be the protagonist of your success story.
Step 1: Understanding the Power of LLMs
LLMs, like OpenAI’s GPT-4, have revolutionized how we interact with language and data. As of 2023, the AI market is valued at over $136 billion, with a projected growth to $190 billion by 2025 according to Statista. This explosive growth indicates a fertile ground for SaaS applications using LLMs.
Step 2: Identifying Your Niche
- Market Research: Dive into forums, social media, and platforms like Reddit or LinkedIn to understand what businesses and individuals need. For example, a survey by Deloitte revealed that over 40% of businesses seek better data analysis tools.
- Competitor Analysis: Use tools like Crunchbase to study existing LLM-based SaaS products. Identify gaps you can fill.
