- October 2, 2020
- Posted by: Ozconsultz Team
- Categories: Business, Business plans, Innovation
This week we want to deviate from our usual post lines. Let’s think out of the box together. Would you rather start your own business or work for salary? This is a very big question that many people out there ask themselves everyday, which way to go?
Well we will be sharing a Whatsapp message that has made the rounds on many whatsapp groups with you. The writer solved the conundrum in this analogy below. sit back, put on your thinking cap and let us go through this together!
ON MONTHLY SALARY…
*Monthly Salary Review*
Your boss pays you #30,000 per month.
Now let’s assume that you decided to save all without touching a dime, it would take you 36 months (156 weeks) to make # 1million.
(Did I hear you say 3years?)
On the other hand, if you can convince an organisation like Dangote Cement Group to print and supply 5,000 umbrellas to them (to be used as souvenirs) and you make just N200 profit per umbrella, in just one day you must have made # 1million.
What about becoming a billionaire, that is where it gets crazy!
Now, as a senior man, you receive #1,000,000 per month and you decide to save all without touching a dime. In a year, you must have saved # 12million. It would take about 84 years before you can make # 1billion. (Please subtract your current age).
On the other hand, Nigeria has a population of about 200 million people, If you can supply salt to just 12million people once in a month and you make just N200 from each person supplied, in one year, you must have made N2.9billion.
*This shows that to become rich, you have to stop talking to bosses and start talking to clients*.
Divide your SALARY by 30 days and see what you get (i.e. the number of days in a month and see the funny thing about your salary plan).
(1) An average level-12 worker in the state government civil service earns # 60,000.
**** And this translates to #60,000÷30= # 2,000 every day. This is LESS THAN the amount made daily by an AVERAGE HAWKER (Bread seller) in the city.
(2) A freshly EMPLOYED GRADUATE BANKER in most NIGERIAN BANKS earns an average of #120,000 monthly.
***So everyday, you get banking #120,000÷30= #4,000 as the daily value for your work-life. By implication, this is LESS THAN the amount earned DAILY by an AVERAGE DRIVER in the city and in some villages…..
(3) If you are a FRESH GRADUATE EMPLOYEE in some oil companies, you earn an average of #300,000 monthly. So in a day your WORK-VALUE is #300,000 ÷ 30= #10,000
This is LESS THAN the daily amount earned by an IRRIGATION FARMER supplying vegetables to Lagos MARKETS, a TIPPER CAR DRIVER supplying sand for three BLOCK INDUSTRIES and CONSTRUCTION SITES just 3 times a day.
———>>>HOPE BY NOW, IT IS SINKING IN, RIGHT?
And when there is an ISSUE in the FAMILY that requires FINANCIAL ASSISTANCE, the DRIVERS, HAWKERS and the rest are looking up to you with a WHITE COLLAR JOB.
We must wake up and be more productive. We should be more proactive, create room for more income and strive to diversify our streams of income.
Someone right now will say this analysis is too ideal to be true but take your time and do it, you will grasp the crux!!!
STOP waiting for the Government or your employer to feed you, feed yourself and help the Government / Employer feed others. That is where we are in this age….
Think Investment✅… (by Dr Laide Okubena)
Did that make any sense? Good! now what is your resolution?
What if you do not have the money to start up something? We are compiling a comprehensive list of over 20 businesses you can start without cash, make sure to subscribe to our email newsletter to get the update. If you do not see popup to subscribe you can visit our Facebook page and use the subscribe button to join the lucky people who get all our updates direct to their email!