Billionaire Employee 😊
When we googled Sheryl Sandberg, the Chief Operating Officer at Facebook, the first word that stood out for us was “Billionaire” (in 💲).
Sheryl was invited to lead operations at Facebook because Mark Zuckerberg found out that she had been successful at her previous employments. She had grown every organization she worked for and Mark wanted a part of that genius in his company. Now, she makes way more than the average entrepreneur in the United States.
She had an intrapreneurship mindset that helped her grow to the C-suite level in her career. In this article, you’ll also find out why intrapreneurship and joining growth-based organizations are important for your career.
Sheryl also has books and programs that are recognized globally and those provide her with extra income. (Think of this as her side-hustle).
The truth is that everyone cannot be an entrepreneur and getting alerts at the end of each month is a good thing. The ability to build wealth is not only attained through entrepreneurship. You can truly love your job and build wealth while at it!
Let’s begin here.
According to Investopedia, “Intrapreneurship is a system which allows an employee to act like an entrepreneur within an organization. Intrapreneurs are self-motivated, proactive, and action-oriented people who have leadership skills and think outside the box.”
We can centre this whole piece on “aspire to perspire” and how “you can do it if you can think it”, but it will be a lie that you will hate us for. By doing the barest minimum, you’re not going to get the things you want.
That’s why you should become an intrapreneur.
By sticking to only your job description, you will not enjoy fast growth and promotions that will eventually increase your earning power.
Change your mindset to be different at work. Charge yourself with a growth plan in your 9 to 5, then stick to that plan. Wealth creation is a mindset. Intrapreneurs build wealth for their companies, their companies then reward them with some of that wealth.
Find Companies That Will Allow You Build Wealth 🛫
The startup and tech space is flourishing. Certain skills continue to rise in demand as well.
As a 9 to 5er, think beyond having a job to building a career. They are not the same thing.
People that just look for jobs do so out of desperation and will take on anything without a plan for the future. People who are building their careers are more strategic.
Do your research and join organizations that value your work and have opportunities for growth.
You can also strategically join organizations that give employees shares. There are often terms and conditions and you must have also worked in the company for a number of years. But owning stock in a company is not impossible if you follow the guide we’ve shared with you here.
Increase your Market Value 💰
You need money to achieve your goals and no matter what your salary currently is, it can be more.
Many things can increase your market value in the corporate world but we have found these two to encompass what you need to build wealth: technical skills and soft skills.
Technical Skills 👩💻
These are the skills that are often explicit and without them “maga will not pay”. We like to describe technical skills as “visible” skills that anyone can immediately attest to. For example, if you say you can code, people should be able to see that with products you’ve built. If you describe yourself as a content creator, then people should be able to identify the content you’ve created.
This is the first step to getting paid a salary. However, you can increase your earning power by honing high-in-demand skills. The truth is that some skills will earn you more money than others. Read about how Ryan learned a high-in-demand skill to change his economic prospects. The future is tech and tech is here to stay.
Soft Skills 🤝
Technical skills will get you the job but soft skills will ensure you enjoy growth on the job.
Soft skills are interpersonal skills that are not immediately noticeable. You will have to prove over time that you are kind, a team player, emotionally intelligent and possess the right work ethic.
You can be an employee with fantastic technical skills but your line manager will not promote you if you’re rude to teammates, condescending and unapproachable. It is what it is.
You need a combination of both technical and soft skills to get to the C-suite level at work.
Remember that this is about your ability to build wealth and a C-suite role can get you there faster. Only if you do things the right way.
Plan your Finances 👍
Building wealth goes beyond just striving to get to the C-suite level.
It is admirable but there are frustrated and poor CEOs.
Instead, what you should do is follow our money mantra – Plan, Save, Invest – in that order.
When, you might ask?
Now. Not when you “blow”.
If you’re not planning your finances now, you will not plan them when you begin to earn more. Learning how to build wealth is a mindset that influences your actions and eventually leads to the behaviour that will help you attain financial stability.
Take some time to answer these questions:
- What do you currently earn monthly?
- Do you create a budget and do you stick to it?
- Do you save at least 10% of your income regularly?
- To get your money to produce more, do you invest?
- Do you educate yourself about the different investment opportunities?
- Are you aware of the danger of Ponzi schemes that promise to grow your money like grass?
- How do you intend to increase your income?
These questions are not exhaustive but answering them truthfully will go a long way in showing you what stage you’re at on your wealth creation scale.
Increase your Income 💸
When the Covid-19 pandemic hit, many people realized that one stream of income is risky.
A good way to increase your income is to get a side-hustle that does not interfere with your work.
All your income does not have to come from your 9 to 5 job; you can diversify. 😉
Simple Side-Hustle Ideas 💻
- Host classes
- Create courses
- Have coaching sessions
- Start a YouTube channel
- Write eBooks
- Become an affiliate marketer
- Start a blog on trending topics
- Own an online Store
- Write resumes and cover letters
- Drive for ride-hailing companies in your spare time
- Manage social media for small businesses by scheduling posts
- Become a virtual assistant
There are more opportunities to make money because the world has become a global village. If you really want to make extra, you can. One of the easiest ways is to “sell what you know”. We now live in a knowledge economy where people are willing to pay you to teach them.
Think about the weirdest topic and someone has a class or a course on it so don’t underestimate your knowledge or expertise.
Another Popular Example 😎
Warren Buffett’s story is different from Sheryl’s but has candid lessons for 9 to 5ers too. Like Sherly, He also did not “blow” by founding a company.
Instead, he began buying stocks in Berkshire Hathaway and then grew to acquire a majority stake in the business. Berkshire Hathaway which is now his investment management company actually started as a textile company.
Like Warren Buffet, you can begin investing in profitable businesses (even as an employee). Who knows! You might become the majority shareholder in just a few years too.
The key is to always be thinking about how to make your money work for you, not to earn the entrepreneur title just for the sake of it.
What About Nigeria? 🙂
There’s not much data to show us what employees and C-suite professionals make over here.
However, we have it on good authority that many companies pay competitively, including Cowrywise. 😉
Remember that knowing how to build wealth is not just about when you “blow too”, but the money habits you imbibe now.
The Earlier You Begin to Implement the Better ⌚
If your plan is to retire early with a full career that pays you even when you’re no longer working, then now is the time to start.
You’re going to need to imbibe the right habits and follow the right financial advice to accomplish your goals. One of them is to live frugally. The good thing, however, about your ability to build wealth is that it will pay off. It always does.
You should start now because life never really slows down like we think.
If you’re single now, chances are that you will find the love of your life and get married. It doesn’t end there. You might desire children and then have little humans to cater to. That’s more responsibility.
In summary, whatever stage you’re at now is the best place to begin.
Begin from the End 🤔
Let’s say your plan is to own a house in ten years (it can happen sooner). You should begin to work backwards – do this for every wealth plan you have.
Another plan might be to have multiple investments in five years that considerably pay you. Five years might seem like a long time, but it will be here before you know it.
After you have decided on the kind of person you want to be and the life you want to have in a few years, the work begins. You should then break those goals into achievable bits.
For example, get the education you need to understand the intricacies of buying a house. If you want it in ten years, you should start saving and investing rigorously.
You also need to get specific. Let’s say you live in Lagos, do you want a home on the mainland or on the island? Will you buy a finished/furnished house or will you rather build from scratch?
A four-bedroom terrace duplex on the island can cost about N45,000,000 (Forty-Five Million Naira) and can go as high as N150,000,000 (One Hundred and Fifty Million Naira). This costs the same as houses located in highbrow areas on the mainland. Sites like this can help you find estimated figures.
Getting specific empowers you with the details needed to plan appropriately. Wishful thinking, especially as a 9 to 5er, will not do the trick.
Pros of Working a 9 to 5 💯
People think it is all fun and games when you’re an entrepreneur, but paying salaries every month is not as easy as it looks.
- You do not need to worry about operational expenses when working a 9 to 5.
- You get to work in a team from the get-go. Entrepreneurship can begin on a very lonely road and not everyone is built for that.
- Even if you decide to start a Startup, working in a 9 to 5 will help you hone your technical and interpersonal skills.
Watch this video to learn more about building wealth as an employee:
Bringing It All Together 😎
Raise your hand if you love your work!
It is a myth to think that everyone hates their job or has to “own their own business” to create wealth. It is simply not true. You just need to be strategic about where you’re going.
As shared in an Inc.com article, “Being an entrepreneur vs. a non-entrepreneur employee is just a matter of the road one travels to ultimately own assets of great value. It’s entirely possible to “get rich” or have average wealth on either path.
Are you an employee who has risen through the ranks and grown more financially stable as a result of your job?
Share your story with us in the comments!
You never know who you will inspire.
Remember that Cowrywise is here to help you.
Sign up now to begin your journey to wealth creation.