Photo Courtesy of Instagram/ Ellie Diop
A single mother of four used her stimulus check of $1,200 last year to create her online coaching business and has since generated $2 million in revenue.
According to Business Insider, Ellie Diop was laid off from her job, had gotten divorced, and was living with her mom, when she decided it was time for her to get a handle on her finances.
This year, she’s been able to gather over 230,000 followers on her “Ellie Talks Money” Instagram page by sharing her wisdom and knowledge of business and money generating.
“I leveraged my experience in the corporate world to get started,” Diop said.
“I spent 45 days scrolling through Instagram every day, researching, following hashtags, before making my first post. It is important to look at who is having success in the field, analyze what they are doing that is working, and identify which needs they are not meeting.”
”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,” she added.
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When Diop received her stimulus check, she decided she’d make it into an investment.
With less than $500, she bought graphic design tools, lighting tools and built her own website.
The rest of the money went toward transforming her knowledge into courses, and ten months down the line, she reached the seven-figure mark.
Diop invested in her retirement funding and said she’s intentional about building multiple streams of income.
“Currently, I have five sources of income through my business coaching, the courses I offer, my rental income, life insurance license, and speaking engagements. I’m looking to add a few more,” she said.
Diop saves 25 percent of her income and puts it towards emergency funding. She also uses different finance managers to aid in her process.
“I don’t always have a reference point. That’s why I reach out to people who have the information, so I can make the best decision for my situation,” she said.
In one of her latest social media posts, Diop gave some major money-making tips to her followers.
She said, “The best way to set this up to have multiple bank accounts & start segmenting your money. Keep some aside for taxes, savings, investments, payroll etc. That way, you know all your business needs are covered even while you put money away to invest & grow 🤑. I’m teaching you how to do all this and more in the 7-Figure Starter Pack.”