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While the first might look good, getting people to work for you actually makes you more profitable to the government, and of course, the universe.
Before we begin, I want to make it clear that everyone won't be an entrepreneur, you know? That too comes with a lot of responsibilities. If your personality suits working under a boss, I still advise you go for it.
In my next article, I'd be listing out some things no one ever told me about being an entrepreneur. The commitments, downsides, tussles and more. But till then, ride with me as I explain some things you will love to hear about entrepreneurship and being employed.
In this piece, I'd be using two fictitious names, Todd and Titus. Todd is doing a regular job (probably teaching) and earning a monthly salary of ₦150,000 while Titus just launched his business last year and making an average profit of ₦120,000 per month.
Let's assume Titus is a web-designer and charges ₦50,000 per website, and gets a ₦20,000 profit subtracting the charges for the host, domain and other fees, to make ₦120,000, he needs to create an average of 6 websites per month.
At the end of April, he sees the need to expand and increases his advertising budget, thereby reaching more potential customers. By the end of 2019, his web design firm starts getting over 15 jobs a month and he hires one person to assist him, whom he pays ₦50,000 a month.
Calculating his income, 15 x ₦20,000 = ₦300,000 (- ₦50,000).
His firm will be recording an income of ₦250,000.
Remember he'd still have some running costs to cover, like fueling his generator, paying house rent and advertising his firms.
If he uses ₦1,000 to buy fuel in a day and works for 28 days in a month, he spends ₦28,000 on fuel
Depending on the city, he might spend ₦15,000 on rent monthly (ie ₦180,000 per year), and
Minus another ₦50,000 which he spent on ads, you'd see that he spent ₦93,000 last month on running his business.
₦250,000 - ₦93,000 = ₦157,000
Todd still earned his salary of ₦150,000 while Titus recorded an average monthly profit of ₦157,000 at the end of the year.
As a salary earner, Todd will save any extra money by by depositing it into a bank, which in turn earns him an annual interest of 5%.
In the advanced world where you earn per hour, you'd have to calculate your income with the paycheck formula.
Paycheck = (hourly pay) x (hours worked)
Remember there are only 168 hours in a week, so basically you can't work for 500 hours no matter how strong you are.
According to TowardsDataScience.com, an average American man works 41.0 hours per week while the ladies work an average of 36.3 hours per week.
₦150,000/160 hours = 937.5
(To not complicate things, let's assume you're earning ₦1,000, which equals ₦40,000 a week)
Now as a employee, you're limited in the sense that:
You can't work 500 hours a week
You can't force your employee to pay you ₦15,000 per hour
You can't ask the bank to give you an annual interest of 100%
While Titus finds out that his firm is getting more jobs than he can handle and they've built an authority in the industry, so he hires more employees and increases his charges.
In a few years of running, he'd have built his portfolio, and gained some reputation. He won't be limited because as new businesses emerge, the need for websites increase. He won't be limited with time because he already had more employees, whose salaries are fixed.
Titus will now have oversee the running of his business while his employees do the jobs of creating the websites.
Titus can in the later run, decide to expand into mobile app development and social media management. Looking at his industry, you'd believe with me that his clients may also be needing the services.
I gave a very simple example above, but the same scalable variables exist in everything Titus works for which usually come from these three main categories:
• Owning a Business
• Stock Investing
• Real Estate
Notice, these are NOT earned income (job).
There are seven common streams of income:
• Earned income• Profit income
• Interest income
• Dividend income
• Rental income
• Capital gains income
• Royalty income
All of the above listed, except earned income are scalable and controllable in one way or another.
Tobiloba Isaac Jolaoso aka Kingtblakhoc the blue movie star continues to baffle a lot of Nigerians for his bravado in venturing into such abominable business in our culture.
According to sources, the infamous gentleman is going through serious health issues with his health. He was recently in the news for daring to shoot adult movies in a shrine in Osun State.
Here are rare pictures of him before and after becoming an adult movie star.
Before
After
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Top Nigerians Who Are On Forbes
Call it luck, dedication or sheer opportunity, some good number of people have attained the billionaire status. They have, over the years, worked their way up the glorious platter, and today, they are well-adorned and celebrated for achieving such remarkable feat that is usually not meant for all.
The true worth of a wealthy or successful individual is determined in dollar equivalence, irrespective of the country the person might be from. A billionaire, in dollars, is no amusement ride, in fact, it is one of the most difficult to attain. According to the world's record of a billion-dollar holders, only 2,095 are recognised worldwide; of which just 20 of them are from African countries.
Nigeria as a country do have an influx of successful people. These people dare such 'depressing' odds and impeding situations in the country to thrive, nonetheless. But despite that, not many of them can boast of possessing up to a billion dollar in net worth, as this would mean having accumulated nothing less than 360 billion naira. Unless you have some hyper-successful, highly-demanded product(s), this might not be a task to easily achieve in 10 years or less; it would take far more than that.
Reno Advice On What To Borrow Money For
Stop Borrowing Money For Food, Drinks And Wedding, Instead Borrow Money For Any of These 6 Things
Popular author, lawyer, social media influencer, TV presenter and former spokesperson to President Goodluck Jonathan is at it again. Reno Omokri has proven on many occasions to Nigerians that he is more than a typical Nigerian politician with his wisdom nuggets he constantly dishes out to his teeming fans, and followers.
He is not only respected but also honoured with its wide range of words of wisdom. Just a while ago, he vital pieces of advice to people.
32 Hot Sneakers To Try Out
It's Saturday, and usually most people reserve this day for leisure activities, sports, or doing relaxing stuff. Some opt for grocery or household shopping. Sneakers are the perfect footwears for these activities.
Sneakers were primarily designed for sports or other forms of physical activities.
Today, a lot of people wear sneakers for casual outings, and some particular special events; like college week's jean carnival.
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Check Out 5 Footballers Who Dates Best Of The Best Supermodels
If...
If you love football, you may want to know who the women behind the football icons you admire are. These are not just any women; they are the World’s Best Supermodels.
Neymar’s Bruna Marquezine
Bruna Reis Maia, 22, best known as Bruna Marquezine (having adopted the surname Marquezine as a tribute to her grandmother), is a Brazilian actress and model. She began her career at a young age, performing in commercials and videos with the presenter Xuxa.
For the fourth time, The PSG forward rekindled his romance with his former partner, and they seem to be enjoying life together.
Kevin-Prince Boateng’s Melissa Satta
Satta is an American-born Italian television presenter and Model. She is a hot brunette and she always grabs the headlines, usually for her affairs. She has been involved with footballers such as Christian Vieri, John Carew, and now Kevin Prince Boateng. She is a femme fatale by all accounts.
Edin Dzeko’s Amra Silajdzic
Amra Silajdzic-Dzeko, 33, is a Bosnian model and actress. She was noticed by fashion scouts and became a member of the modelling agency Elite Model in Paris. She has appeared in music videos by recording artists such as Enrique Iglesias, Chromeo, The Cataracs, Taio Cruz and Blake Shelton.
She has been in a relationship with Bosnian footballer Edin Dzeko since 2011. On 2 February 2016, they became parents of a baby girl named Una. On 9 September 2017, their second child was born in Rome, a baby boy named Dani.
Sami Khedira’s Adriana Lima
Sami Khedira is now dating the “Most Attractive Woman in the Worldâ€. Lima is a Brazilian model and actress, best known as a Victoria’s Secret Angel since 1999. She is their longest-running model and named “the most valuable Victoria’s Secret Angel†in 2017.
At the age of 15, Lima won Ford’s “Supermodel of Brazil†competition and took second place the following year in the Ford “Supermodel of the World†competition before signing with Elite Model Management in New York City.
Lima is currently ranked by Models.com as one of the New Supers in the fashion industry. Since 2014, Lima has been the world’s second-highest-paid model.
David Beckham’s Victoria Beckham
Victoria Caroline Beckham OBE is an English businesswoman, fashion designer, model, and singer. She is probably the most well-known and praised of the hottest wives and girlfriends of soccer players.
She married footballer David Beckham back in 1999, securing her seat as an instant fan favourite and cultural icon, unlike any other WAG before or after her.
Tom Cleverly’s Georgina Dorsett
Georgina’s WAG status was initiated in 2012 when her and Cleverly first began dating. Now, almost six years later, the two have had a daughter, Nevaeh, and a young boy, Albie. The Ex-TOWIE star is one of the most decorated models on the list.
Mesut Ozil’s Amine Gulse
Gulse is a Swedish-Turkish actress, model and beauty pageant titleholder born and raised in Sweden. She was crowned Miss World Turkey 2014 and represented her country at the Miss World 2014 pageant.
Sources claim she started dating Arsenal’s Mesut Ozil since last year and they are now engaged. They have been spotted wearing engagement rings. Furthermore, there are headlines that the duo will tie the knot next summer.