Top 5 Business Lessons from 5 African Richest Men
For business men, ‘luck’ doesn’t exist, opportunity does. Most people don’t look out for opportunity. They wait for instantaneous sheer luck hence their failure in business. Today we are going to be learning strict, applicable lessons from African Richest men. These African richest men have experienced obstacles in their way up. They still face setbacks. They have the experience, they have effective strategies. Experience, they say, is the best teacher BUT learning from the experienced, saves you time and effort.
Find below 5 business lessons from 5 African Richest Men
Aliko Dangote – Start Early
Born in 1957, Dangote is ranked as the richest man in Africa and the 67th in the world. Dangote is the chairman of ‘Dangote Group’, a multi-trillion naira business group covering processing, cement manufacturing, freight and consumable goods. A business he started in 1977. Today in Nigeria, Dangote Group is the principal supplier of sugar production to the countries soft drink companies.
Apart from his ever expanding juicy portfolio, one business lesson from this African Richest Man is to start early. The early bird is sure to get the dew first. At age 20, Aliko Dangote started his business. With a few savings he gathered from selling boxes of sweet while in primary school and a one-time loan from his uncle, he ventured into retail business. Today, he has a market capitalization of over $15.5bn. Don’t wait till the surface is plain or the opportunities are all in your favour. Don’t wait till 5 years to your retirement. Create opportunities. Start Young, Start Early, Start today.
King Mohammed IV – Wealth by Diversification
After the death of his father, Mohammed Vi ascended to the throne and is still the current king of Morrocco. Apart from his political sojourn, he is Morocco leading business man and banker estimated by Forbes to be worth US2.5 billion. King Mohammed has a diversified portfolio consisting of importation, Tourism, real estate, Insurance, Banking, Mining, Cement Manufacturing and energy. He’s got his hand spread and invested into the various business industry.
Diversification is the lesson here. Business minded individuals do not have all their eggs stuffed into one basket. And you shouldn’t either. We have no specific forecast for tomorrow due to inflation, consumer adjustment and currency exchange but when you have your investment in different sectors, success is guaranteed.
Mike Adenuga – Hard Work Pays
Dr Mike Adeniyi Adenuga is the chairman of ‘Mike Adenuga Group’ grossing over $4.7billion according to Forbes. The business man has this to say, ‘I have worked hard most of my life even as a young man. I believe I have been fortunate and the harder you work, the luckier you can get’. Most of his close associate says the billionaire works 18 hours a day. His principle of hard work is an enviable one that we need to emulate if we are to excel in business.
Mike Adenuga is the second richest person in Nigeria and his company, Globacom is Nigeria second largest telecom operator with a presence in Benin, Ghana, Togo and the Equatorial.
Femi Otedola – Value Through Philanthropy
According to Wikipedia, Femi Otedola is a Nigerian business man, entrepreneur, philanthropist, and chairman of Forte Oil Plc, an importer of fuel products. He is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other business across shipping, real estate and finance. The holy books did say, give and you shall receive. But according to Otedola, he has the believes that giving is the essence of living.
It is our way of balance the tide in financial distribution. One exceptional attribute of this business mogul is his heart of philanthropy. His Primary Education Foundation in Noforija, Epe is poised on quality education and it being free. He has donated more than 200 million in free education and in 2008 he donated over 80 million to the Faculty of Agriculture at the University of Port Harcourt. He is one of the major donors to the Security Trust Fund in a drive to reduce crime in Lagos.
You can be a source of joy, employment and care to your surrounding despite your sojourn in becoming among the top richest men in the world. Have it in your mind that the hand that gives is always enriched.
Johann Rupert – The Customer Player
Johann Peter Rupert is a South Africa business man. Born 1 June 1950. He is estimated to be worth $7.7 billion and ranked as one of the five richest Africans. Rupert started his business apprenticeship in New York. Rupert rarely gives interviews and don’t get involved in the public event.
He is considered as a customer player. His core business strategy is to focus on customer satisfaction. He has seen an increase in patronage, business alliance and stable economic growth. We can learn from him, the customer is still king in every business.