Bounce Exclusive: Retired At 36, Millionaire At 40
Omotayo Omotoso, like many other Nigerians, went through school hoping to make it big in life, especially since he was not born with a silver spoon.
In fact, he had to struggle through school and his case did not seem bright at the time.
Since he was not one of the smartest students in class. He humbly described himself as “below average”.
Perhaps it is easier for him to say now since his polytechnic grades count for nothing when compared with his bank accounts.
He is an accountant by training. Although he went on to seek jobs after school, the young man kept his eyes on the dream to go into manufacturing.
“My first job was 1999 to 2003 with a company in Ilorin and from there I proceeded for my HND and after this I also worked with another company at Lekki, Lagos and then a money lending company called me to work for them as an external auditor in 2005.
“But my first job with De Johnson Nigeria Ltd actually inspired me for manufacturing. We bring in CKD i.e. Component Knock Down from Italy to Nigeria and we assemble it into gas and electric cookers as well as manufacturing fridges we distribute to Nigeria.
“From there I developed the idea to become a manufacturer,” he recalled, but his vision got clearer when he visited a sachet water producing company in Ondo in 2000.
He was fascinated by the fully automated system he saw. “I fell in love with it and right from there I had it within my mind that definitely I will own this type of business. I didn’t know how long it would take but I kept working on it”.
Omotayo was just 23 years old in the year 2000 and it took him the next 13 years to birth his own dream.
Those years were not easy. At a time when he was preparing for his (ICAN) examination to become a chartered accountant, Omotayo had to sell recharge cards to survive.
He made a meagre amount but he still managed to join a thrift programme where he saved N1,000 every day.
While some got busy criticizing 'a whole graduate who descended so low to sell recharge cards', Tayo was busy discovering what would later be his secret to wealth – daily income.
Even when he got a job that paid a good salary, Omotayo’s mind had already been conditioned that he refused to abandon his 13-year-old dream.
“There is no amount of money your employer can pay you that is worth the services and the time that you are giving.
“I realized that I had not achieved what I wanted to become – a manufacturer, entrepreneur and a job giver. So, I knew I was just buying time all the time I was working.”
Retired At 36
At 36, he was already married for seven years with kids. So, the pressure was there not to dare leave his job, especially when he was deemed too young to go solo but he was willing to take the risk.
“Many people are just sitting in the comfort zone of 'my salary will come at the end of the month' but I looked beyond that because I have since realized that until a man makes daily money no matter how small it is you’re not yet secure.”
The choice of water business also did not seem attractive at the time because many people believed that too many water companies already existed.
Forget that "below average" tag he gave himself, he was smart, he did not jump off his job without a plan; no one knew he had started to build structures for his brand gradually.
And he says without blinking that this is a formula that works, only if you are wise and you “don’t cheat your employer”.
One thing also stood out about this man - his understanding of the business. He spoke like someone who studied Water Chemistry.
“I actually read a lot about water online and I also take water to the laboratory for water analysis by myself and pay attention to all the details but in the beginning, I got a lot of information I needed online,” he explained.
He added that his confidence was quite high because he had the knowledge needed at the time he resigned in the year 2013.
He went on to build TASBORET Integrated Services Limited, a fast-growing name in the food and beverages sector whose BORETO Water is becoming one of the most sought after in Ogun state.
Omotayo is no more the man who had to manage with a salary that was never enough. Now, what many “executives” manage to take home in a month is his daily income.
“Practically, I use N30,000 diesel every day; and we work six days – Monday to Friday, that is N180,000 a week and by four weeks, that is N720,000 in a month or N900,000 when the month has five weeks.
“That is asides other expenses that come like maintenance of generators, vehicles, machines, and the overhead cost like staff salaries.
“So, by the time we put that together, I can tell you that we are doing a turnover of six million Naira in a month but we can only talk about profit after we deduct those costs,” he said.
A Nigerian who earns a salary of N300,000 monthly would be considered a “big boy” with a “good job” and that is just 3.6 million Naira in a year.
We assume this could be less than what his company makes in a month, selling water.
That same company that started as a side hustle now has 21 full-time staff and has created over 200 jobs indirectly.
Four years after daring to do the unthinkable, Omotayo has stopped being a hustler; a growing success is what he calls himself, saying confidently; “The most important secret that I have is God”.
“After God is hard work, because without it there nothing anyone can do to help you,” he added.
“I feel sorry for the younger generation because of what I see. Most of them are so lazy because of the several lotteries and sports betting games.
“Those things will not take them anywhere. They are just making somebody that is already rich to become richer.
“Wisdom is for you to make use of your power and strength when you still have it, forge ahead and do what is needful,” he said.
Omotayo recently celebrated his 40th birthday. Before friends and family, he brought out the list of personal targets he wrote many years ago, every item was marked; achieved!