Third Stimulus Check: Stimulus check helped a single mom, 28, to launch a coaching business now worth $1.3million
A SINGLE mom turned her $1,200 stimulus check into a million-dollar business that coaches people on how to start their own businesses.
Twenty-eight-year-old Ellie Diop invested her stimulus check to set up her own online coaching business that generated over $1million in 10 months since its launch.
She started Ellie Talks Money in 2020 with the few resources she had, Fintech Zoom reported.
Diop found that millennials wanted to start their own businesses in the midst of a pandemic and so she decided to launch her company to help them achieve that.
Diop didn’t have enough resources to cover start-up costs, therefore she spent a little over $300 to get started with buying a website domain and using equipment to post visually appealing photos.
“I leveraged my experience in the corporate world to get started,” she told Fintech Zoom.
“I knew I would need good lighting, a website, and a tool to edit my visuals and create my first product.
“I saw a lot of unanswered questions,” Diop added.
“So many business coaches were either men or single women without kids or women in a relationship without kids. I did not see anyone who could offer my point of view, so I decided to become that person.”
During the initial steps of launching her business, Diop searched for a social media platform that would offer her products and services at low costs and decided that Instagram is the best option.
She said she spent 45 days scrolling through Instagram daily to know what makes a good post by searching and analyzing others who are offering similar services but are not meeting certain needs.
At the beginning of the Ellie Talks Money launch, she offered people free coaching services and calls in return for their reviews and began charging fees for those services at a later phase.
Before being struck with the idea of launching a coaching business, Diop was reportedly rejected from over 50 jobs she applied for in 2019 after being laid off.
If you are looking into ways to boost your finances, you can still do that without a stimulus check, according to Ascent.
There are a number of ways to boost your earnings even if you’re not eligible for the coronavirus cash or still waiting for it to arrive, it adds.
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One of the options includes renting out your vehicle to those who are considering travel again now that many people received at least one of the two-dose Covid-19 vaccines.
Decluttering your house and getting rid of unwanted items is another way to make extra money.
Setting up a utility deposit refund or life insurance proceeds are also helpful ways to save cash using MissingMoney.com or search USA.gov to find any lost funds.