“When you import goods, you import poverty and you export jobs to other parts of the globe where such goods are produced.” – Aliko Dangote Winning markets comes through awareness. The brilliance of Aliko Dangote happens because of his high level of awareness to link market frictions and opportunities. The same goes for other empire builders. […]
3.3 – The Dangote Way
“We had a lot of capital, and we were able to build out our own power grid. The number one thing that kills businesses in Africa is power, or the lack of power. We wanted to have our businesses completely independent, with our own grid. So we built it. It took $1.2 billion” – Aliko Dangote […]
3.2 – The Tenets of Dangote Success
“The most dangerous thing for an entrepreneur to do is to actually go into a business that he does not understand fully.” – Aliko Dangote “Motivation, backed by good planning and correct action leads to success” – Aliko Dangote Throughout the presentation, I picked the following as some of the major pillars of Dangote success: Quality […]
3.1 – The Beginning and Evolution
“I always tried to move up the food chain… When I was trading sugar, I added salt and flour, so that then we could do pasta. And then I thought, why not make the bag for it too? So, we started making packaging.” – Aliko Dangote “To build a successful business, you must start small […]
2.3 – When Conglomerates Lose
“Don’t kill the competition. Competition is healthy for businesses. It keeps you the entrepreneur on your toes.” – Aliko Dangote Despite the strengths of conglomerates, they can be challenged by anyone that can master what they do. The conglomerates accumulate capabilities and they use them to compete. I will use an illustration of a Nigerian company that took […]