Alhaji Aliko Dangote is undoubtedly one of the most successful business men in the world. He is ranked by Forbes as the richest black man and the 30th richest person in the world, with a net worth of $22.6 billion. His dominance of the sugar, cement and flour industries in Nigeria has firmly established Dangote as the ultimate business man in Nigeria.
Dangote Industries hasn’t always been a billion-dollar business. After a business degree at the Al-Ahzar University in Cairo, Egypt, he took a loan from his uncle to start a business. That was the beginning of what has now become a conglomerate. The company, which is a household name, has now moved beyond sugar and cement; Dangote is expanding to the oil and gas industry with a privately owned oil refinery, fertilizer and petrochemical facility. The average Nigerian is familiar with Dangote the company, and Dangote the man. His wealth is also wellknown. For an entrepreneur though, Dangote wouldn’t have been this successful without a few traits.
Perseverance
You almost will never find a business that started making unbelievable profits in its first day of sale. Perseverance is a very important trait of any business person. To build a successful and long lasting company that will yield billions, one needs to get rid of the “quick profit” expectations that a lot of people have of businesses.
Focus
“Jack of all trades, master of none” comes to mind. Dangote’s focus for a long time has been on commodities. When a company has grown to well-established heights, only then should proprietors consider introducing other products. Starting several businesses at once is only a guarantee of failure.
Despite the humble beginnings of Dangote industries, the company has been able to grow into a world renowned conglomerate that many entrepreneurs can only dream of.
About the author: Amina Salau is a writer and editor running The Illuminated Pen. You can find her online at www.theilluminatedpen.com and on Twitter (@_Aminah)
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This article was first published on 23rd October 2014 and updated on November 13th, 2014 at 10:00 am
Comments (1)
Alhaji Aliko Dangote is undoubtedly one of the most successful business men in the world. He is ranked by Forbes as the richest black man and the 30th richest person in the world, with a net worth of $22.6 billion. His dominance of the sugar, cement and flour industries in Nigeria has firmly established Dangote as the ultimate business man in Nigeria.
Dangote Industries hasn’t always been a billion-dollar business. After a business degree at the Al-Ahzar University in Cairo, Egypt, he took a loan from his uncle to start a business. That was the beginning of what has now become a conglomerate. The company, which is a household name, has now moved beyond sugar and cement; Dangote is expanding to the oil and gas industry with a privately owned oil refinery, fertilizer and petrochemical facility. The average Nigerian is familiar with Dangote the company, and Dangote the man. His wealth is also wellknown. For an entrepreneur though, Dangote wouldn’t have been this successful without a few traits.
Perseverance
You almost will never find a business that started making unbelievable profits in its first day of sale. Perseverance is a very important trait of any business person. To build a successful and long lasting company that will yield billions, one needs to get rid of the “quick profit” expectations that a lot of people have of businesses.
Focus
“Jack of all trades, master of none” comes to mind. Dangote’s focus for a long time has been on commodities. When a company has grown to well-established heights, only then should proprietors consider introducing other products. Starting several businesses at once is only a guarantee of failure.
Despite the humble beginnings of Dangote industries, the company has been able to grow into a world renowned conglomerate that many entrepreneurs can only dream of.
About the author: Amina Salau is a writer and editor running The Illuminated Pen. You can find her online at www.theilluminatedpen.com and on Twitter (@_Aminah)
I lke amina aliko dangote iwant speck i dono hwene i have chance