Ask anyone starting a business and they’ll tell you they want to make a difference, whether it’s in their specific industry, their local community, or the world. Making an impact, and an income, is on the mind of every individual considering taking the leap and pursuing entrepreneurship; it was certainly on Rachel Ngom’s mind when she initially started her journey to get where she is now.
When Ngom first started out, she had -$400 in her bank account. Now, she’s a millionaire with multiple revenue streams. Her goal was to make a difference and be able to support her family along the way. She achieved that goal, but her road to success looked a little different than she originally planned.
Ngom’s original plan was to become a social worker. While she was studying for her degree and her husband was starting his business, she became an accidental entrepreneur and stumbled into network marketing. She started her own business, graduated with her master’s, and found herself on food stamps with a negative balance in her bank account.
“My Dad told me, ‘Rachel, you need to get a real job, this isn’t working,” she said.
To make it work, Ngom invested in a business course.
“After I invested in that program, I understood social media and how to brand myself,” said Ngom.
That investment paid off and her network marketing business earned her six figures. Unfortunately, the company was restructured, and her income got cut in half. This led her to a realization that got her where she is today—you can’t rely on only one income stream. She learned what happens when that one stream dries up, and she became focused on making sure that didn’t happen again. Now she’s a go-to Pinterest expert, a coach, the founder of She’s Making an Impact, and creator of entrepreneurial-focused online courses.
Multiple revenue streams allowed Ngom to reach the level of success she has today and has inspired her to teach others how to accumulate wealth in a similar way. “The things we’ve put on our vision board, they’re all coming true,” she said. “We have the businesses, we have the property, and now we are adding new things and asking new questions.”
Changing the World
Ngom’s entire brand is about empowering women in business, through business. Because of her faith, she is as motivated to pursue social good as she is to find independence. Neither of these things would have been possible if Ngom hadn’t become an entrepreneur.
“A master’s degree in Social Work is a burden when a year’s salary can’t even pay for a semester of college,” said Ngom. “How can you do the most good? With the most money.”
And money really is what it all boils down to. Using her master’s degree or attempting to make a difference with a nonprofit wouldn’t have gotten her nearly as far as entrepreneurship has.
Ngom and her husband have launched numerous businesses in Senegal, a place dear to their hearts. Their businesses, a car rental company and a large-scale egg farm that will produce roughly 75,000 eggs per month, have provided jobs for a community lacking opportunity, ultimately creating real, tangible social change and employment.
While nonprofits can be beneficial, it can be challenging to see tangible results from your efforts. Not to mention, many of the setbacks and challenges nonprofits face revolve around bureaucracy and a lack of funds. Constantly fundraising and engaging donors can easily lead to burnout, not to mention keeping those donors interested and giving even after they’ve done so once.
These are not issues you face as an entrepreneur, as you would typically set a goal to make money and support yourself and, therefore, have a for-profit business.
If you choose to take that profit and invest it in yourself and in others, as Ngom has done, then you can truly impact the lives of others, make a difference in the world, and do it all without burning yourself out.
Written by Rachel Ngom.
Have you read it?
The world’s top 20 most travel-obsessed countries, 2023.
The most Twitter-obsessed countries revealed, 2023.
The world’s top 10 most popular luxury brands for 2023.
The most fast food-obsessed countries in the world, 2023.
Who Are the Richest Sports Owners in the World, 2023?
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Thank you for supporting our journalism. Subscribe here.
For media queries, please contact: email@example.com