Aliko Dangote is Africa’s richest man. He is a billionaire African entrepreneur and his business principles are truly enriching. We can learn some important lessons from the mammoth success of Aliko Dangote.
1. The first lesson that we get to learn from Aliko Dangote is that we must aim higher if we want to achieve success. Once, Dangote Cement had set an aspiring target of producing more than sixty million metric tons of cement. It was an almost impossible target but Dangote did not give up. He worked hard day and night to achieve his target so that Dangote Cement gets the label of the world’s largest cement producer.
2. The second lesson that we get to learn from Aliko Dangote is that expansion and diversification is very much related to a person’s success. When we see the life of Dangote, we see that his interests are not confined to cement. He also had business of sugar and textiles, oil and gas. He had expanded his business from Nigeria to all parts of Africa such as Tanzania, Zambia, South Africa and Senegal. The decision of expanding and diversifying his business has made Aliko Dangote so much successful.
3. The third lesson that we get to learn from Aliko Dangote is that it is essential to maintain close relations with powerful people. Dangote has always maintained good relations with the presidents of Africa which has helped him to be successful. Apart from that, he has employed about 11,000 people in his company.
4. The fourth lesson that we get to learn from Aliko Dangote is that raising funds is an intelligent way of taking one’s business to great heights. He had listed his cement company in the year 2010 on the Stock Exchange of Nigeria. Next, he is planning to list his company on the Stock Exchange of London. He hopes to raise as much funds as possible so that Dangote Cement prospers more.
5. The fifth lesson that we get to learn from Aliko Dangote is that we must trust our intuition. He believed in Africa wholeheartedly. He was always loyal to Africa and this has definitely made him so successful. Though he knew that there were potential risks in investing in Africa, he believed that he can find plenty of opportunities there. He believed in his intuition and that made him so much successful.
The 5 business lessons that we can learn from Aliko Dangote are very enriching and can help all the aspiring entrepreneurs to achieve success.