Must you own a Business to become Rich?

The world’s billionaires are business owners, not ordinary workers in the corporate institutions. They don’t just work for the business; they own the business. So is it possible to become rich without owning your own business? It is possible to become very rich by remaining an employee and working your way up the corporate ladder.

Who is your employer?

Some employers are known for paying well and treating their staff very well, at least in terms of financial rewards. Though they may not pay you millions at the end of each month so you can become a billionaire, they pay high enough for you to afford holidays, send your children to the best schools, drive the best cars, own beautiful homes and afford almost anything you need. Tech giants, mining companies, telecommunications, banks and some manufacturers of consumer and producer products pay their staff very well. They are dispersed across various industries. Yours is to look for the best paying companies and get in. With the same output, you’d be paid more. It may become necessary to travel and settle in other countries in order to earn more, as an employee.

What skills do you possess?

Some skills and experiences are highly sought after by employers. Such skills would be highly rewarded. If there is the need to redefine your career path, do so, in order to earn more. It’s never too late to move to a different industry or step in a new path. If your plan is to remain an employee till you retire, then there’s no point sticking to your career till the end if it doesn’t pay well.

Bonuses

End-of-year bonuses can make a big difference. Some jobs don’t pay so well but they surely reward you well at the end of the year –more than other high paying jobs. Your bonuses are a good part of your plans to become rich whilst remaining in full-time employment. Quit your job if they are not paying bonuses or have very low bonus-schemes. Move on and join another firm that is ready to reward your skills and experience with big bonuses at the end of the year. You’ll soon be 60, and you should earn so much before you retire from active employment. In Ghana, some executives earn as much as $300,000 and more in annual bonuses.

Non-financial benefits

Employers provide benefits that may not be direct credits to your bank account. However, these benefits relieve you of several financial burdens, which leave you with a lot more of your disposable income to save. Examine all terms of your offer before accepting. Health insurance coverage, rent advance, educational benefits for your kids, paid vacation, leisure and entertainment, interest-free loans are some of the ways in which your employer can free your disposable income.

When you earn a lot, you can still own businesses by buying their stocks and still continue with your full-time job without having to involve yourself in the building and running of a new business.

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1 comment

Osman Alhassan June 19, 2016 at 3:08 pm

Good read . Thank you

Reply

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