Small Investments, Big Returns: How $1,200 Sparked Million-Dollar Businesses

The Covid-19 pandemic posed difficulties for the entire population. Numerous individuals experienced fear, anxiety, and financial constraints.

The government’s response through stimulus checks proved crucial in assisting individuals and families in surviving an incredibly uncertain period. In fact, a 2020 survey conducted by the U.S. Bureau of Labor Statistics revealed that 59% of respondents planned to use their stimulus checks to cover everyday expenses.

Nevertheless, a portion of people utilized their stimulus checks for a different purpose: launching their own businesses. Despite the initial stimulus checks being worth $1,200 each, these astute and resourceful entrepreneurs managed to leverage them to start small enterprises that eventually grew into million-dollar companies over a few years.

Jasmine Taylor’s $1,200 Investment in Goods and Shipping Supplies

Meet Jasmine Taylor. When the pandemic hit, she, like many millennials, was burdened with student loan and credit card debts. Feeling stressed and overwhelmed, Taylor began documenting her use of the cash envelope budgeting method, which resonated with many.

With her vibrant nails and an array of budgeting tools, Taylor gained a substantial following as viewers enjoyed watching her organize her cash envelopes.

In the early stages of her online presence, she noticed a lack of stylish budgeting products in the market. Using her stimulus check, she launched her business, “Baddies and Budgets.” The funds were directed towards materials for creating cash envelopes, shipping supplies, and setting up a Shopify website to sell them.

Taylor now boasts over 750,000 TikTok followers and anticipates generating $1 million in revenue for 2023.

Ellie Diop’s $1,200 Investment in Domain Names, Website Hosting, and Video Equipment

Describing Ellie Diop as a super mom would be an understatement. Just before the pandemic struck, she lost her job. Subsequently, she gave birth to twins, underwent a divorce, and moved in with her mother.

While these circumstances might lead many into a downward spiral, Diop took a different path. She used her stimulus check to initiate a business from scratch.

Initially, she began building an online coaching business using skills from her previous job. She started sharing daily videos online, offering valuable advice to small business owners. Eventually, she realized that scaling through 1:1 coaching would be challenging. Consequently, she developed courses to reach a broader audience at a more accessible price point.

Over time, her influence expanded. Presently, her business, “Ellie Talks Money,” has generated over $3 million in revenue and amassed over half a million Instagram followers.

Tips for Launching Your Own Online Business

The stories of Taylor and Diop demonstrate that substantial capital isn’t always necessary to start a business, particularly an online venture. Both entrepreneurs utilized their $1,200 wisely to obtain essential supplies for aiding people through their online platforms.

As their audiences grew, they provided products and services that supported their followers’ growth and success.

If you’re considering starting your own online business, here are a few valuable pointers:

  • Consistency is key: Regularly engaging with your audience through videos, posts, and reels maintains their interest.
  • Analyze and adapt: Understand when your audience interacts with your content. Study analytics to gain insights into your audience and potential customers.
  • Authenticity matters: While there are numerous business niches online, your unique personality and perspective make a difference.
  • Exceptional customer service: Providing outstanding customer service and listening to feedback fosters customer loyalty and community engagement.

Ultimately, the pandemic presented challenges, but these two entrepreneurs embraced them by investing their efforts into their businesses daily.

Creating million-dollar businesses with a mere $1,200 is a remarkable achievement. However, these women demonstrated that success stems from unwavering dedication to assisting others and spreading hope during trying times, rather than the monetary amount invested.

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