Aliko Dangote As at January 2015, Dangote’s entire net worth was estimated at US$18.6 billion having made his fortune from flour, sugar and cement production. Sitting atop one of Africa’s largest conglomerate, Alhaji Aliko Dangote is Nigeria’s richest man nay Africa’s richest man and the richest black man in the world.
His secrets of success come from being different, creative and strategic.
Here are 5 uncommon secrets that have shot him from being trader who started trading in commodities after receiving a loan of N500,000 three decades ago from his powerful uncle.
1. He mastered the tricks of his trade
He worked for his uncle; Sani Dangote where learnt what it takes to be a successful trader. It was while there he gathered the confidence, skills and confidence that have helped today built a large conglomerate in Africa. You want to lead? You must serve.
2. He works very hard
As a man who knows what it means to start a business and grow it, Dangote spends majority of his time brainstorming and strategizing on how to move his business forward. It is said that he sleeps by 2am and wakes up as early as 5am everyday. Can you also do this?
3. He built a very viable brand
According to him,
“to succeed in business, you must build a brand and never destroy it. One competitive advantage I had when I ventured into manufacturing was my brand (Dangote), which I diligently built in the course of my trading.”
4. He had a well organized distribution network
Producing goods without having an effective distribution network is as good as killing the business right from the beginning. Dangote ensured that there was a very strong distribution network that ensured his goods got delivered faster than that of his competitors.
5. He abides by the laws of the land
No one will want to do business with anyone who intends to bypass the laws of the land. Through his adherence to compliance with business standards at all levels, he has endeared his name to the hearts of everyone who wants to do business with him as they see him as a trustworthy businessman.
What are you doing to move your own business forward?
Think Naija… #MoveNaija