21 May 2020

How To Become Rich Through Working For Others



HOW TO BECOME RICH AS AN EMPLOYEE

Contrary to what many believe, that if you want to become rich, you need to stop working for others and start your own business. In as much as this sound like a very perfect advice to those who want to become rich in life, I am here to disappoint you that you don’t really need to start your own business from scratch to become rich. You can actually become rich by working for others as an employee under a pay check or monthly salary.

There is no doubt that majority of the rich billionaires in the world today are entrepreneurs and business persons who dammed the consequences and believed in their business vision by starting up their own business from scratch, I also want to let you know that walking through that route today is more difficult than ever, especially now that companies and organizations are laying off staff in droves due to the economic downturn resulting from coronavirus lockdowns. Even before the global pandemic, starting up and growing a startup to success was never easy, so why continue on the pathway of uncertainty when you can actually walk your way up the ladder of rich list through working for others?



For instance, Steve Ballmer started as an employee of Microsoft in 1980 after dropping out from an MBA program at Stanford Business School. Due to his enormous contributions and dedication to his job at Microsoft, he rose from an ordinary staff of Microsoft to CEO of Microsoft from 2000 to 2014. When he finally retired from Microsoft, he didn’t get tired, he continued with his passion for basketball, and now invested his savings into buying NBA’s Los Angeles Clippers , and gradually he turned his fortune around and now he is worth a whooping sum of $54 billion.

This is a practical example of how you can walk your way up the ladder of success to join the rich list even as an ordinary employee of a company.

Another good example is Meg Whitman who joined eBay and helped turn the fortune of eBay around from $5.7 million annual sales revenue to $8 billion revenue in 10 years.  She didn’t quit after her stint with eBay, she rather leveraged on her successful employee profile to land a bigger job as a CEO at Hewlett-Packard  from 2011 to 2015 where she oversaw the split into HP Inc. and Hewlett-Packard Enterprise. Right now, she sits on the board of HP, Dropbox and Procter & Gamble (P & G) where she controls some shares. She has also ventured into various startup investment and currently she is worth $4.6 billion.

What about Nigeria’s Dr Ngozi Okonjo-Iweala who has never founded any company or business of her own, but sits on the board of reputable global organizations where she earns fat pay checks that has put her on Frankwealth’s Black Women’s Rich list?

Considering the difficult business environment and uncertainty in a country like Nigeria filled with corporate and tribal-religious politics, starting and growing a business from scratch to success in Nigeria is not as easy as many may think; from unfavorable government policies to unstable policies of Nigerian federal and state governments that can change within a space of few months, young entrepreneurs find it very difficult to survive. Early last year, ORide, a new bike hailing startup was a national sensation, such that it raised over $1 million in first round of investment funding, 6 months later, government wake up with a new policy outlawing the business and sending it packing without notice to the hardworking investors who invested their time, effort and fund into that business.

Also, the same Nigerian government wake up with another kill-business policy that now makes it compulsory for all local delivery businesses that uses bike to deliver goods to people to register their business with NIPOST at a very ridiculous fee that most of these local delivery business owners who are mostly young graduates and entrepreneurs cannot even afford. How do you expect a small business startup struggling to stay afloat under the global pandemic to raise NGN1,000,000 ($2,200) urgently unannounced to register their business? Of course what the Nigerian government is telling these small business owners to do is to pack up and join the growing number of unemployed Nigerians begging for alms, and yet they make so much noise about creating jobs and making business operation easy, how?

These are just few examples of the numerous ways Nigerian government kill Nigerian businesses and another reason why you need to consider taking the employee route to success if you know you cannot play the Nigerian business politics and its policy changes.

You may be wondering how you can secure a job that will give you a good start towards your journey to lifetime of financial freedom and possible venture into the rich list. First, you must acquire some sellable tech skills based on your interest and strength. If you want to stand a greater chance of securing a good job in Nigeria or anywhere else in the world today, then you must consider learning and getting a recognized certification in any of the below tech skills:

  • General Computer Programming
  • Software Development
  • Mobile App development
  • Machine Learning
  • Data Science and Analytics
  • Data Engineering
  • Cyber Security
  • Cloud Computing/AWS
  • IOT (Internet of Things)
  • UI/UX Design
  • Blockchain
  • Quantum Computing
  • Robotics
  • Salesforce/CRMS


The world has gone digital already, and very soon no business will succeed without a strong technology footing, and this is why you must position yourself properly to be among the key players by acquiring these tech skills I mentioned above.

After you acquire these skills with a recognized certification, go ahead and re-brand your linkedin profile and join some popular tech startup platforms where you can build your portfolio up and showcase your skills to the right employers looking for people like you. Don’t let anybody deceive you, companies are hiring everyday even during pandemic, but the question is who are they hiring? They are not hiring the normal staff that contributes nothing to the organization aside filling the office space and doing some common job roles that can be easily replaced. They are hiring people that will help their organization overcome difficult challenges, experts that will bring in their talent and skill to turn around the fortune of their organization. Such people are usually the tech guys with rare tech knowhow that adds value to a business. Companies want to secure their database; they want to keep the secret to their products which can be stolen through hacking. As a cyber-security expert, can you secure their data and ensure no hacker gains access to their database? As a robotics engineer, can you develop a robot that will reduce operational cost for the production department of an organization? As a Mobile Developer, can you develop a unique mobile app that will make their services more affordable and open them up to a wider customer base? These are the type of applicants organizations are looking to hire and are ready to create a job opportunity immediately to accommodate.

Lastly, remember, when you have secured the job, don’t forget your mission, and don’t neglect the power of saving and investing in viable business startups. Saving money have never made anybody rich, so earning fat salary or pay check and saving it in your bank account can never make you rich, you need to deploy your saved income to work, you need to put that savings to work and earn more money, that way, you are guaranteed of joining the rich list if you invest wisely.

Don’t forget, at Frankwealth, we derive joy in helping others succeed, so feel free to reach out for viable investment ideas you can invest in, and we will be glad to assist. See you at the top, cheers!

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