72 Views

10 Wealth Secrets Of Aliko Dangote

[​IMG]

Alhaji Aliko Dangote is the most successful businessman in Africa with a net worth of several billions of United States Dollars. His business is heavily present in Nigeria, Africa and other countries of the world. He left the whole world stunned when he increased his personal net worth by $500 million in less than 24 hours in February 2015 and according to Forbes, he is 53rd richest man in the world.

In spite of all the giant strides attained by Aliko Dangote, here are some of his financial secrets that are worth emulating by individuals and business organizations:

He once worked for someone

Dangote worked for his uncle, Sani Dangote. He served his master diligently. He acted in accordance to the statement which says if you must lead, you must serve. It was while working for his uncle that he gathered experience, skills and confidence.

He took a loan to start his business

Aliko Dangote started his business with the NGN 500,000 loan he took from his uncle/master. He approached his uncle in 1977 and told him about his plan to establish a business outfit and his uncle gave him the loan to start the business. However, he was given a three-month-deadline and he repaid the loan in three months.

He kicked off his business by trading in commodities

Sugar, rice, pasta, salt, cotton, millet, cocoa, textile and vegetable oil were the commodities he started his business with. He was importing these commodities into Nigeria.

He developed a strong distribution network

Since production is not complete until the goods reach the final consumer, Dangote developed a strong distribution channel that made his goods delivered faster than his competitors’ goods.

He leaped from importation to manufacturing

ALSO READ  Meet 25-year-old Oluwaseun Oloruntegbe, Author Of 'Alisa The Odessa Bride'

After some years in his importation business, Aliko Dangote transformed into a producer of products he was importing. In one of his statements, he revealed that changing from an importer to a manufacturer has so far been his best move. The move produced Dangote Group, an organization that controls over 13 companies.

He built a brand

Dangote built a vibrant brand for his business. He corroborated this during an interview by saying “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.”

He sells cheap quality products

In his mission to gain the loyalty of his customers, Dangote started selling his competitive products at cheaper rates compared to his competitors’ rates.

He had a big break

Dangote’s networking skills and ability to make unprecedented connections made him record the major breakthrough he needed for the prosperity of his business. His break through emerged when he acquired the license to import cement.

He works pretty hard

As an astute businessman, Alhaji Aliko Dangote spends most of his time strategizing and brainstorming on how to grow his business. Reports have it that he sleeps by 2:00 am and wakes up by 5:00 am everyday. Can you beat that?

He obeys the laws of the land

Unlike other cunning businessmen, Dangote is an upright man as far as abiding by the rules and regulations governing the ethics of business are concerned. He keeps his credit records as well as his tax records tidy and he preaches that business should be done as stipulated by the regulatory bodie

Source: nigerianbulletin.com

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

What Professor Yemi Osinbajo Said In His Lecture At Harvard
Politics
36 views
Politics
36 views

What Professor Yemi Osinbajo Said In His Lecture At Harvard

PH - January 17, 2018

Vice President Yemi Osinbajo has declared that the transformation in Africa was driven by its ambitious businessmen and women stepping beyond national boundaries to global sphere. Osinbajo made the…

Why We Commenced Indefinite Strike – Ekiti State University ASUU
Shocking
38 views
Shocking
38 views

Why We Commenced Indefinite Strike – Ekiti State University ASUU

MT - January 17, 2018

The Academic Staff Union of Universities (ASUU, Ekiti State University (EKSU) chapter, has announced the commencement of an indefinite strike action. Workers at the Ekiti State University…

Enyimba FC Replies Chelsea Fans Who Mentioned Their Handle On Twitter
Sports
32 views
Sports
32 views

Enyimba FC Replies Chelsea Fans Who Mentioned Their Handle On Twitter

MT - January 17, 2018

A Chelsea fan wrote on twitter: If @ChelseaFC buy @andycarroll9_ , I will start supporting @EnyimbaFC. Because dumb actions deserve dumb reactions... and the Nigerians' most successful…

Tithing: Daddy Freeze Got His Information Wrong About Pastor Sam Adeyemi
Entertainment
48 views
Entertainment
48 views

Tithing: Daddy Freeze Got His Information Wrong About Pastor Sam Adeyemi

MT - January 17, 2018

Convener of the free the sheeple movement, Daddy Freeze has been caught giving a wrong information about Pastor Sam Adeyemi of Daystar Christian Centre. In an Instagram…

Tonto Dikeh Pours Encomium On Son As He Turns 23 Months Today
Entertainment
31 views
Entertainment
31 views

Tonto Dikeh Pours Encomium On Son As He Turns 23 Months Today

MT - January 17, 2018

Controversial Nollywood actress, Tonto Charity Dikeh celebrates her son, King Andre every month. He will be a year older next month, and the actress has taken to…

Chima Akas , Enyimba’s Ex Star Joins Swedish Club, Kalmar FF
Sports
34 views
Sports
34 views

Chima Akas , Enyimba’s Ex Star Joins Swedish Club, Kalmar FF

MT - January 17, 2018

Nigerian defender Chima Akas has joined Swedish club Kalmar FF on a three-year contract, reports Completesportsnigeria.com (CSN). CSN reports that Akas last featured for Nigeria Professional Football…

In Photo: FRSC Presents Goods Of Crash Victims To Relatives (Photo)
Inspiring
28 views
Inspiring
28 views

In Photo: FRSC Presents Goods Of Crash Victims To Relatives (Photo)

MT - January 17, 2018

The Unit Commander, Ilesa Unit Command presenting items worth Five hundred thousand (N500,000.00) Naira recovered from crash scene to relatives of the victims on Friday 12th January,…

This Is FCMB’ Epic Reply To A Customer Who Requested For Loan To Buy Doll
Business
43 views
Business
43 views

This Is FCMB’ Epic Reply To A Customer Who Requested For Loan To Buy Doll

MT - January 17, 2018

See the Tweet and Reactions on Twitter.. 

Touching: See The Obituary Of Boy Killed After His Father Tried To Avoid Hitting Child On The Road
Shocking
37 views
Shocking
37 views

Touching: See The Obituary Of Boy Killed After His Father Tried To Avoid Hitting Child On The Road

MT - January 17, 2018

The family of Chief Chijioke Uwah, has been mourning since December 15th 2017 following a serious road accident that killed 13-year-old Chijioke jr, son of Esther Uwah…

Hushpuppi Shows Off His Versace Bedroom And His New Gucci Swag (SEE Photos)
Entertainment
51 views
Entertainment
51 views

Hushpuppi Shows Off His Versace Bedroom And His New Gucci Swag (SEE Photos)

MT - January 17, 2018

One of Nigeria's controversial big boys, dominating the fashion world among Nigerians, has finally let everyone in to his Versace customized bedroom via his Instagram handle

Read The Reply MTN Gave Lady After She Mistakenly Bought N15k Airtime, Instead Of 1500
Shocking
36 views
Shocking
36 views

Read The Reply MTN Gave Lady After She Mistakenly Bought N15k Airtime, Instead Of 1500

MT - January 17, 2018

Lady cried out yesterday after she mistakenly bought an Airtime of 15k instead of 1500 from MTN VTU, she posted the screenshot of Twitter, But Got disappointed…

This 1962 Cardilac Fleetwood Limousine Recently Spotted In Lagos Is A beauty To Behold (Photos)
Lifestyle
38 views
Lifestyle
38 views

This 1962 Cardilac Fleetwood Limousine Recently Spotted In Lagos Is A beauty To Behold (Photos)

MT - January 17, 2018

If it is 1962, this limousine will be termed the Rolls Royce of all cars as it is exclusively for the rich. But it has gone vintage…

Why We Rejected Grazing Colonies – Ohanaeze
Politics
43 views
Politics
43 views

Why We Rejected Grazing Colonies – Ohanaeze

MT - January 17, 2018

OHANAEZE Ndigbo, the Apex Igbo socio-cultural organisation, has urged the people of the South East region to reject the proposed grazing colonies by the federal government. The…

Meet Meggy Linus, New Akwa Ibom Teen Queen, She Replaces Abasiodiong Eyo Inyang
Entertainment
49 views
Entertainment
49 views

Meet Meggy Linus, New Akwa Ibom Teen Queen, She Replaces Abasiodiong Eyo Inyang

MT - January 17, 2018

Meet the New Akwa Ibom Teen Queen 2017/2018, Miss Meggy Linus. She replaces Miss Abasiodiong Eyo Inyang who was dethroned for “immoral behaviors and indiscipline”. Miss Meggy…

Three Nigerian Female Athletes Celebrated In New Beats By Dre Advert. Photos
Entertainment
41 views
Entertainment
41 views

Three Nigerian Female Athletes Celebrated In New Beats By Dre Advert. Photos

MT - January 17, 2018

Congratulations are in order for Nigeria’s first bobsleigh team after being celebrated in the new Beats by Dre advert. Beats by Dr. Dre launched the latest installment…

Buhari Hosts Saraki And Other Principal Officers Of The National Assembly. Photos
Politics
40 views
Politics
40 views

Buhari Hosts Saraki And Other Principal Officers Of The National Assembly. Photos

MT - January 17, 2018

Yesterday, President Muhammadu Buhari hosted principal officer’s of the National Assembly in State House, Abuja. Those present include, Senate President Abubakar Bukola Saraki, Deputy Senate President Ike…

9ice Celebrates His 38th Birthday. Check Out Then Vs Now Photos
Entertainment
44 views
Entertainment
44 views

9ice Celebrates His 38th Birthday. Check Out Then Vs Now Photos

MT - January 17, 2018

9ice,  Alexander Abolore Adegbola Adigun Alapomeji Ajifolajifaola was born today, 17th of January. 9ice was at the centre of the Nigerian music scene in the year 2010…

Here Is Why Jordon Ibe Turned Down Offer To Represent Nigeria At Russia 2018
Sports
56 views
Sports
56 views

Here Is Why Jordon Ibe Turned Down Offer To Represent Nigeria At Russia 2018

MT - January 17, 2018

Former England youth international Jordon Ibe has turned down a fresh approach by Nigeria to represent them at the World Cup 2018 in Russia. Ibe has been…

Loading...