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  As Africa’s richest man, Aliko Dangote is a source of inspiration to entrepreneurs around the world due to his considerable success and for the fact that he was once a budding entrepreneur. On the way, he encountered many challenges but persevered until he expanded his company and launched the Dangote Group in 1977.
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There are many lessons to learn from the business tycoon, especially ones he has to give during interviews and seminars.

Listen To People

A business’ success depends largely on the people behind the scenes. Aliko Dangote opines that you have to value teamwork if you want to build a thriving business. “There’s no way you can make it as a person without a good team,” says the entrepreneur.

Be Consistent

Dangote reminds us that every business comes with its own set of challenges. According to him, entrepreneurs should welcome challenges because life would be boring without them. He advises that as long as you stay consistent and find ways to solve problems that arise you will be successful.

Seek Out The Right Information

Running a business requires one to keep up with the trends in their industry. On this, Dangote advises business owners to have as much information as they can at their fingertips and ensure the information is up to date. He uses his experience as an example, revealing that if he did what he was doing years ago without the automation available today, he wouldn’t be successful.
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Be Focused

Focus comes from loving what you do and seeing a future in it. According to him, “you shouldn’t take your business or job as something you must do; you must see it as a hobby. If it’s a hobby then you’ll do it better.”

Think Ahead

The more evolving your industry is, the more you have to think ahead and weigh your options before taking action. While Dangote advises entrepreneurs to diversify if they have the means, he also emphasises on the need to know when to consolidate. Expanding without a good strategy will lead to costly errors in the long run. In your quest to become a successful entrepreneur, there’s no better person to emulate than Aliko Dangote himself. These lessons remain relevant and applicable in today’s world. Featured Image Source: CNBC
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This article was first published on 16th November 2020

samuelokoruwa

My name is Samuel Okoruwa. I am an ardent researcher, reading is life and writing is fun.

Comments (1)

One thought on “5 Business Lessons Entrepreneurs Should Learn From Aliko Dangote”

  • gralion torile

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