Here are 10 ways science make you rich and famous…
Billionaires around the world mostly come from business or entertainment background. Most scientists have unique passion in pursuing their theories rather than just making money. This is why people don’t really know how science make you rich.
Science is not a popular field because of its tendency of making people bored. Only a few of them really pursue their passion in science.
As how it was said in meme, “I don’t always pursue career in science. But when I do, I make buck load of money.” Science can be a good source of money when you do it right.
We put together 10 things you can do within your science field of study to earn some money. These are how science make you rich. Through these, you are potentially becoming one of the billionaires.
10. Publish your groundbreaking idea
This is the first and fundamental way of being successful in science field. It is the foremost purpose of science study itself: producing new groundbreaking ideas. You may not think your idea is groundbreaking. But how could you find out before letting others know?
If you have an idea, even if it is disproving any existing theory, write a paper about it. Then, publish it. Publishing a research paper is an important activity within the academic community. It is your way to be heard and to be discovered.
You can start submitting your paper to your professor or someone you know that is eligible to review and give you feedback prior to publishing.
Stephen Hawking was first discovered after publishing his first paper, “Occurrence of singularities in open universes” in 1965. Although the paper itself is not as popular as others, this was a huge milestone of Hawking’s groundbreaking idea.
9. Experiment on other groundbreaking theory
What if you cannot come up with a new groundbreaking idea? What should you do to let science make you rich? Help prove others’ theories.
Eddington (Sir Arthur Stanley Eddington) is more known for his work in proving Einstein’s theory of general relativity than his own philosophy in science. He conducted an expedition to observe Solar eclipse in 1919 to confirm Einstein’s theory.
This was a very important phase of the General Relativity. Eddington did not come up with the idea, but he helped proving it despite the conflicts and controversies he had to encounter.
There are thousands of academic papers published out there. The fact that they are approved doesn’t mean that they have been proven. Find any theory in your field and get the gears going.
8. Become an exclusive keynote speaker
Once you have become a well-known scientist in your field, people will start hiring you to lecture or give seminar. For this, you also need public speaking skill and confidence no matter how smart you are.
In most seminars, both corporate and academic, a keynote speaker is hired to share professional insights. Being a groundbreaking scientist, people will want to hear all the things you have in mind.
How much can you make from attending a forum or seminar as a keynote speaker? An average good speaker earns around $15,000 per event, which is averagely two hours top.
Not to mention if your paper became a bestselling book, you can earn more (more than $40,000). Doesn’t this prove that science make you rich?
7. Work for a billion-dollar company
There are thousands of big companies out there who are seeking creative minds to work with. Hence, even without any groundbreaking idea, it is still possible to prove that science make you rich.
Being a scientist not only means you are smart, but also knowledgeable. That is an important asset to any company’s longevity.
Payscale recorded the highest paying job in the field of science is Regulatory Affairs Director (chemistry field) with $146,000 in a year.
That doesn’t include other allowances and facilities. Plus, with more than 10 years’ experience, you can get a permanent position with a very minimum risk of being fired. Pretty good deal, isn’t it?
6. Write a bestselling book
What is more to writing out your idea than turning it into a bestselling book? This is one of the best ways to earn passive income. Write your masterpiece once and collect your royalty for as long as they are selling out.
Most science books bring the best royalty percentage to their authors due to its lack of editorial and promotional needs compared to commercial books.
Scientific journals or books are published just as they are. As original as it can be. Because people buy them to hear the author’s idea. To be entertained by good writing style is just a bonus.
One of the living proof of the fact that science make you rich this way is Stephen Hawking. His masterpiece, “A Brief History of Time” was sold for more than 10 million copies in 2 years. Assuming he only got $1 from each book sold, he already earned $10 million.
5. Found a world-class educational institution
A great way to share a scientist’s brilliant mind is to found an educational institution to embody his groundbreaking idea. It can be a short course program, school, or even university.
John Harvard of Charlestown is the first benefactor of the world-known university, Harvard. The institution was named after him to honor his contribution. Harvard is now is the oldest institution of higher education in the United States.
Harvard was established in 1636 by vote of the Great and General Court of the Massachusetts Bay Colony. John Harvard left his library and half his estate to the institution upon his death in 1638.
Helping other kids and young brilliant minds to evolve under the roof of your institution is worth more than any money. This means science make you rich in a spiritual way of humanity aspect as well.
4. Win a Nobel prize
The ultimate acknowledgement in the scientific world is up next on our ways science make you rich list. Since 1901, Nobel Prize has awarded more than 900 people and organizations.
The Nobel Prize is a set of annual international awards in recognition of academic, cultural, and scientific advances. Those 900 awards were dedicated to people and organizations with outstanding contributions.
Winning the Nobel Prize comes with prize money. In 2012, the prize for each award was worth $1.2 million. This will make you an instant millionaire.
The prize itself comes with a golden medallion with an embossed image of Alfred Nobel facing left in profile. It is presented by Swedish academy in Stockholm, Sweden, every year.
3. Get your idea patented
To let science make you rich, when you come up with a groundbreaking idea, don’t just write a publish it, but get it patented as soon as you can. Without this, you will not be able to make any money out of it. Or worse, someone else might steal the idea from you.
Getting a patent is not free. Therefore, you have to make sure that your idea is worth it. However, underrating your idea may also be a blunder when other people develop it into a bigger and better invention.
To get you the idea of the importance of patent, take a look at the case between SSL (Satellite builder Space Systems/Loral) and ViaSat Inc.. The SSL was found guilty of infringing on the patents of ViaSat Inc. by building broadband satellites for its competitors.
This cost SSL a total of $100 million. This was the largest settlement in a commercial satellite communications intellectual property matter.
2. Sell your idea’s license right
What can you do with a patented idea? There are two options. Both can prove that science make you rich. You either develop the idea into an invention, or you sell your ideas to an institution that is interested in doing it for you.
The second option, selling your license and copyright of patented idea, is easier. It also gives certain amount of money that you can retain in your own terms. Of course, it is your idea after all.
How much can you make from giving a company the full right of your idea? It depends on how worth it your idea is. You and the company decide the price. A good negotiation skill will help a lot in this case.
Take a look at Microsoft’s success. Their patent is valued at 185,004. Being an intangible asset, patent cannot be assigned to monetary value.
1. Develop your groundbreaking idea into a billion-dollar company
The best way to let science make you rich is to run the engine yourself. Develop your idea into a groundbreaking invention which can lead you to the top chart of business.
One of the richest scientists, Gordon Moore, is an electrical engineer. He studied at San Jose State University, University of California, and California Institute of Technology. He is known for the Moore’s Law.
Moore’s Law observes that the number of transistors in a dense integrated circuit doubles approximately every two years. He published this groundbreaking idea in 1975. Initially, the paper was published in 1965 before it was revised one decade after.
Moore is the co-founder of Intel. He successfully turned his groundbreaking idea into a money-making engine. He is now 87 years old living happily with his $6.7 billion net worth.
