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How I Made My First Million by Age 24: My Journey to Financial Success

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I made my first 1 million in a year when I was just 24 years old. It was back in 2020—the year COVID-19 shook the world. Businesses were closing, jobs were being lost, and the economy was down. But in every crisis, there’s an opportunity.

Did you know that if you saved 3,000 Ksh every day, it would take you only 334 days to have more than 1 million Ksh?!

Yes, it's true. Multiplying 3,000 by 334 gives you 1,002,000 Ksh.

Now, the big question is, how can you make 3,000 Ksh daily and save for a whole year?

Actually, to save 3,000 Ksh daily, you need to be making at least 4,000 Ksh a day or more. I know this sounds like a challenge, but it's possible.

How I Made 1 Million in One Year

In 2020, like many others, I lost my job due to the COVID-19 pandemic. With businesses shutting down and companies laying off employees, I had to find another way to make money.

One day, while watching YouTube, I came across a video about dropshipping. The idea fascinated me—I could sell products online without actually owning stock. That’s when I started researching e-commerce in Kenya.

I registered as a seller on Jumia, Kilimall, and Jiji and began my journey. My focus was on selling beauty products like gel polish and acetone, hair products such as braids and wigs, and electronics like TVs and Laptops.

Since I didn’t have much capital, I started by window-shopping in wholesale stores in Nairobi. I noted the prices of different products, found the cheapest ones, and then listed them online using product images I found on the internet.

N/B: When selling on platforms like Jumia, it's crucial to conduct thorough market research to identify the best-selling products. This ensures you invest in high-demand items, maximizing your sales and profits.

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Starting with Just Ksh 1,200

My first order came from a customer who wanted three bottles of gel polish. I didn’t have them in stock, but I quickly went to Dubois Road, bought two bottles at Ksh 400 each, and sold them at Ksh 600 each. I made a small profit and reinvested it.

Slowly but surely, I started getting more orders, and my profits grew. At my peak, I was making around Ksh 21,000 weekly from online sales alone.

But I didn’t stop there. I was also doing online academic writing, making around Ksh 1,000 per day. However, I used this money to cover my daily expenses and bills, ensuring I didn’t touch my e-commerce profits.

Challenges Along the Way

My journey wasn’t smooth.

  1. Delayed Deliveries & Customer Complaints – Sometimes, suppliers would take longer than expected to deliver products, leading to customer frustration. I had to learn how to manage expectations and communicate well with buyers.

  2. Competition & Price Wars – Other sellers on Jumia and Kilimall were offering lower prices, forcing me to either adjust my pricing or differentiate my products through better service.

  3. Cash Flow Struggles – At times, I had to wait for payments from platforms like Jumia, meaning I needed backup cash to fulfill new orders before my previous payments cleared.

Saving and Managing My Money

By the end of 2020, my Money Market Fund (MMF) account had more than Ksh 1 million. I had chosen MMF because my banker advised me that it was a safe place to save money while keeping it accessible. Initially, I wanted to start a business, but I hadn’t found the right business idea yet. By the time the year ended, I realized I had hit the 1 million mark without even noticing.

Lessons & Mindset Shifts

  • Consistency is key – Making small, consistent daily profits adds up over time.

  • Financial discipline matters – I never touched my e-commerce earnings. Every shilling went to my MMF account.

  • Always be open to new opportunities – If I hadn’t explored e-commerce after losing my job, I wouldn’t have discovered this path.

What Would I Do Differently?

If I were to start over today, I would start with multiple income streams earlier. Relying solely on one source of income can be risky. Diversifying earlier would have helped me grow even faster.

How You Can Do It Too

  • Start small – You don’t need a lot of money. I started with just Ksh 1,200.

  • Leverage online platforms – Jumia, Kilimall, Jiji, and even social media can be powerful tools for making money.

  • Have a clear saving strategy – Open an MMF account or any savings plan that keeps your money growing but still accessible.

  • Be patient and consistent – Success doesn’t happen overnight, but small daily efforts will add up.

Final Thoughts: Take Action Now

You don’t have to wait for the perfect time to start. If I could make Ksh 1 million in one year at 24 years old with no job, you can do it too. Start today—whether it's an online business, freelancing, or another side hustle. Your first million is closer than you think!