Home Business BUSINESS NUGGET OF THE WEEK: The Aliko Dangote model

BUSINESS NUGGET OF THE WEEK: The Aliko Dangote model



When the mobile licenses were on offer in Nigeria, Dangote could have bid successfully for one of them. But I remember he steadfastly refused because as he put it “it was not his game.”
Secondly, when oil blocks were on offer he stayed away, even though he had the money and influence to get the best of them.
Dangote had his business model rooted in industrial manufacturing of cement, and similar basic products.
He did not chase every type of business like a man trying to get into everything!

What is the lesson?
I have said it before, and he repeated it the other day:
• You must focus on the thing you know best, and get in very deep!
It is the best model.

Dangote has made money in cement. Does it mean that is where money is to be made?
No sir!

Look at Nestle, they bought cocoa from Africa, and mixed it with milk, and built a business now worth $240bn, half the size of Nigeria’s economy, and they are from a small country, Switzerland with 8.5m people, and a GDP of $650bn, bigger than Nigeria and South Africa

If you apply the “3Ps” to any type of business you will be a billionaire, if that is your desire.
* Take you business, that you know well.
* Don’t look over your shoulder at what the next guy is doing.
* Put your head down and focus on 3Ps:
-Product – innovation),
-People – hire the smartest people and incentivize them well),
-Process – apply modern management techniques to ensure high levels of productivity

SOURCE: Whatsapp anonymous author


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