Can You Get Rich Working for Someone Else?

Hello and welcome to the show. This one is going to be a quick detour from what we've been discussing, you know, lead generation and all of that. Today we're just going to be looking at can you be a wealthy business development manager? Can you be a wealthy manager? That is for those of you who are career oriented and you want to work for someone else. So that's the question that we're going to be looking at today. Now, the reason why we're going to be looking at that is because of a number of conversations I've been having from people who are listeners of the podcast and who are wondering about these sorts of things.

You know, where can I make wealth? How can I make money? You know, those of you who are in the management track, you know, you're a junior manager, you're a mid level manager, that kind of thing. Or maybe you're running a sales team on behalf of some organization. And then you're wondering, can you get wealthy by being a business development manager or any other kind of manager? So that's what we're looking at today. If you'd love to connect with me and explore opportunities, the phone number to reach me on IS080 64662140.

The country code is +234 for those of you who are not Nigerian. And then if you'd love to connect with me on LinkedIn, the name to look for, the profile to look for is Tavishima Ayede. And yeah, that's it. So connect with me on LinkedIn. That's my socials. So today the question is, can you be a wealthy business development manager? Can you be a wealthy XYZ manager? Can you be a wealthy branch manager? Can you be a wealthy whatever kind of manager?

For those of you who are career oriented, the answer is yes, you can be wealthy. However, this is a big but your salary is going to be capped and your salary is going to be limited. Manager cannot earn more than CEO. Manager cannot earn more than OGA. Manager cannot earn more than founder. Manager cannot earn more than you know, certain kinds of people. If you're in management, just know that your salary is going to be capped.

So for you to grow wealth as a business development manager or some sort of manager, you have to try and be promoted and look for bigger paying opportunities. So if wealth is what you're after and you want to increase your heading capacity as a manager, as a business development manager or any kind of manager, you're looking for bigger employment opportunities. So if you're the business development manager for the business, you're based in Abuja,

let's say headquarters is in Lagos, you want more money. You have to try and find your way to get into Lagos headquarters or to become the head of sales for, I don't know, North Central or something like that. That's the only way that you're going to increase your earning capacity because as a salary earner, your salary will always be capped, It will always be limited. Then you can also look at all the organizations because the business manager for Hilton,

Hilton Hotel in Abuja, my guess is his pay is probably good. But if you are the business development manager for MTN or for GLOW, now I'm thinking now some good money. That's just my guess. What if you're the business development manager for Toyota, they're African Middle East office, I think that's some good money. What if you're the business development manager for Shell or total, excuse me, West African region. Now you, you get where I'm heading at.

But even in these organizations, you just know that your salary is capped. You will never earn more than CEO than founder than you know, whatever it will be capped. So for those of you who are in the sales space, because the person that was having this conversation with is a business development manager. Business development manager is just a fancy way of saying sales manager. Because business development manager and sales development manager your your responsibility is train the people underneath you and try and look for ways to open up opportunities for your employees and for the company to make money after the business development manager or a sales development manager does.

So like I've said, your salary is capped. However, if you are an individual sales contributor, someone who is working in the organization, your salary is uncapped. If you work harder, you will get more money. If you slack off, you will make less money. So the earning potential for somebody who is in sales is higher. In fact, back in my days when I was trying to sell financial products for Lead way, there were two or three people that everybody spoke about that were earning more than Oga, Patak,

Bata at the top. And the people who are on the board as an individual, sales people who earn more than them as in salary commissions, the money that you put in the pocket is more than the salary that the personal top is earning. So if this is about money, just pure money, then the upside actually is by remaining an individual sales contributor. In fact, while I was at lead way, I didn't understand why my manager who was the top selling salesperson nationwide, I think maybe like 3 or 4 years ago, was now doing manager work.

And I'm wondering like why would I do manager work? I have fixed salary. I'd rather be out in the field and then be collecting millions and millions and millions as my, what's it called as compensation and as gifts and, you know, stuff like that. But that's just the way I look at things. Maybe I'm too focused on the money, but the bottom line, what I'm trying to say is that in some organizations, in most organizations, that's, that's except if you're dealing with,

you know, small, you know, SME and stuff like that, because you're dealing with SME and, and your salary is now more than August salary. I won't be surprised if August becomes offended and he sacks you or maybe he starts limiting your, your Commission. Those sorts of things happen. But outside of those sorts of situations, if you want to make bastard money or if you want to make more money than August CEO, then manager track.

It's not for you because individual, the individual contributor, the individual salesman, your salary is maybe they give you 100K every month fixed, but for other business opportunities that you bring in, they'll be adding you 33% or 1010% or five 5% or whatever. So the rest is now up to you. If you like the way the 10% tastes and you're able to bring in 2010% in a month, you know, you do the math. If you're able to sustain that for eight months of the year, do the math.

So yeah, you can be worthy as a manager, but just know that your salary is capped. You want the salary to grow, Look for bigger employment opportunities. If you're with Hilton, leave Hilton, go to MTN. If you're with MTN, leave MTN, go to Toyota. If you're with Toyota, OK, well Toyota and Shell, I'm not sure which is the bigger company, but you get my drift. So the rationale or your motivation is the key thing here. If what you're worried about is money, then please remain a salesperson.

If what you're worried about is the more spiritual stuff, you know, you want to sow into somebody's life, you want to be in a position of leadership, you want a bigger status because the manager has a bigger status than the salesperson. And I've, I've seen it across a couple of organisations. I mean, it doesn't matter if the salesperson is earning 10 times more than the CEO, the CEO will still have greater status in the eyes of everybody.

So just know what it is they're running after. If it is money, stick to sales. If it is the recognition, the status, the leadership, the everything, all those other things, then remain a manager. But The thing is we have to be clear about what we are looking for. If money is what is important to you, I entered the manager track. You're going to be very frustrated. Just remain as the salesperson that you are. I'll be OK with the fact that if it is AGM are not general meeting or maybe even a family meeting or church meeting or whatever.

Just be comfortable with the fact that people will always call the person who is orga CEOMD whatever before they call you even if I'm making more money. So just be just know where you're heading and be comfortable with that. So be clear about what you want. Is it the money or the status? Be clear about where you're headed. If it is money, stick the sales. You'll make more money that way. If it is Rep, if it is stature that you want stature on the company and in society, then yeah, hit the management track.

So yeah, that's it, basically. That's my contribution of today. In case there are some of you over there listening to the podcast right now who are currently tossing about in your head, you know, trying to weigh the whole options, pretty much giving you what the options are. But the answer to your question is yes, if you are a manager, you're the branch manager, you can be wealthy, you're the sales manager, you can be wealthy,

you're the marketing manager, you can be wealthy, but your salary is capped, Your salary is limited. You want it to be bigger, look for bigger employment opportunities. Eventually, maybe leave your organization because you will never earn more than the CEO if the CEO is earning. I don't know what's the big salary nowadays. OK, I don't know what the big salary is nowadays, but let me guess that maybe I have no idea. Let me just write the number.

So let's say now, let me just write the number. If the CEO is any 50 M, then just know that by many in that organization know that you will never earn up to 50 M. You can't earn more than August CEO. You can't. It ain't going to happen. But if you're in sales and August CEO is any 50M, you can earn more than 50 M so long as your commissions add up and provided you're not working for a small business like Okuchuku and Sons.

Because if you're working for Okuchuku and Sons and the head of Okuchuku and Sons is bringing in 50 M every year, and then he notices that you as salesperson, you earned 48 this year, you'll feel threatened and you, you will find a way to cap your wings. Maybe you suck you or maybe limit your Commission. OK, last year we're paying you 1010%, but this year we're kind of already paying you 1010%, so we'll now be paying you two 2%

Commission, you know, that kind of thing. So yeah, so that's it pretty much. So thanks for your time and attention. I'll catch you guys in the next episode.