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Nairaland Forum / Nairaland / General / Business / Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" (44077 Views)
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Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Checked86: 1:36pm On Jan 31, 2018 |
Tension532:Your comment read, "EVEN the mod didn't read it". the "even" in your comment included everyone that opened the thread. 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 1:41pm On Jan 31, 2018 |
MrMcJay: The entrepreneur who set up Emerging Markets Telecommunications Services (EMTS), is Hakeem Bello-Osagie. That is another man whose biography, I would like to read. 3 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 1:49pm On Jan 31, 2018 |
IamaNigerianGuy: No one is gonna give you a level playing ground. Even in Heaven, there are Angels and then there are Archangels. As you stand today, if I'm to invest a million dollars into you, do you have a viable business enterprise to absorb such investment or you'll keep manufacturing excuses as you did above? If you can't be a skyscraper, be the solid foundation that your children would build skyscrapers on. 6 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 1:51pm On Jan 31, 2018 |
IamaNigerianGuy: Keem Bello-Osagie was NOT a billionaire when he started EMTS. In fact, he was heavily indebted after buying the old UBA, and so he had to sell it off to Tony Elumelu who owned Standard Trust Bank, at that time. Elumelu bought over UBA, and decided to retain the name because after all, it was still a strong brand. As for using "his university contacts to penetrate the arab royal families for investment in his venture, and his relationship with IBB to secure his telecom licence", every single international business man at some point in the other in their lives, would use every contact at their disposal, to take their business forward, or to make things work out in their favour. Individuals do it, governments do it. In fact, part of the job of an ambassador in any country, is to promote the economic, trade and commercial interests of his nation, while serving as its diplomatic representative. They look out for the interests of their business men in order to protect them, and help them secure favourable overseas contracts. That is why you see them always organising trade missions and exchange programmes etc. My only concern about Hakeem Bello-Osagie, is why his businesses always seem to reach a peak and stop growing, or eventually die out. Why? Does he get tired of them, or has he failed to learn from the lessons of his past? 6 Likes 2 Shares |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 1:58pm On Jan 31, 2018 |
LaudateII: Belo Osagie was a co-founder of Udo Udoma and Belo-Osagie, a top commercial law firm in Nigeria. Also, this firm owns Alsec Nominees. That's excluding UBA and EMTS. That man knows how to start up big stuff. However, it would be better if he starts up businesses and gives it to others to manage while he leans back to watch it grow. Lemme give me you a secret though, Etisalat was a huge paycheck for him if you understand how that deal went. 2 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Tunks2017(m): 2:13pm On Jan 31, 2018 |
1 Like
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Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by einsteine(m): 2:15pm On Jan 31, 2018 |
americanson: What's the name of the 24 years old "billionaire "? Plus I wonder where you get the impression that I am anti-rich. I am simply saying that his story does not hold any lessons for the average business person. That's all. 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by TDkAL: 2:22pm On Jan 31, 2018 |
Really inspired it goes 2 say when life give u graphite boil it 2 1000 degrees and u get a diamond hope u wont stop cos d bid failed 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 2:23pm On Jan 31, 2018 |
Beautiful! Awesome! Those were the first words that crossed my mind, when I read this article. The next was "audacious." Paddy Adenuga has shared his thoughts, in a way that grips the senses and makes it difficult for you to look away. I would like to see this story made into a movie or at worst, a documentary, because there are too many valuable lessons in it. 1). It is not enough to dream, you must also 'do': Vision is what gives rise to action. And action is what gives birth to change. Too many of us dream of how to do something different, or make something great. Very few of us actually take the plunge. Paddy had an idea, and he took steps to make it happen. So many people have a dream, but do not know how to go about actualising it. Paddy had a dream, then he formed a plan, put up a structure, built a financial base, got the right people and executed it. 2). Money answereth most, (not all) things: Yes, one might have money, but if such funds are not deployed in a productive venture or in a fruitful manner, in the right way, at the right place, into the right endeavour, then such funds would never add any benefit to its' owner. It would dwindle, and eventually get frittered away. Too many rich kids live lives of opulence with zero sense of direction. It is critical to know when and how to throw the right sum of money into a good venture, in order to make it profitable. Money, no matter how much it is, is certainly not a substitute for skill, expertise, hard work or talent. Money in the wrong hands could even become a destructive force, if the owner does not know what to do with it. Money could also prevent a person from thinking clearly, if it is allowed to cloud the senses. It is also critical to know exactly when to stop throwing good money after bad, and when to cut your losses and walk away. 3). A financial war chest is a great asset, but not a substitute for homework: Some dreams won't come true, unless you have the money to bring them to reality. As stated earlier, it is not just the cash that matters, but the work you put in to ensure that money makes things happen for you, or creates opportunities that work in your favour, or help you accomplish your tasks. There is an old saying that goes this way - "Take what you want from life, but make sure to pay for it." Paddy had a war chest of 50 million USD. It made everyone sit up, and take him seriously. But the most important bit, was that Paddy did his homework thoroughly. He researched the company he wanted to buy inside out, he contacted movers and shakers that could influence the bid outcome, and persuaded his competitors to become his partners. Compare this to the DISCOs who bought over electricity firms in the country, and started crying about how indebted those firms were, the day after they had bought them. They even went back to govt to beg for more money at the end of the day. 4). Prepare, Collaborate - always get the best talent and reward them: In setting up Catalan, Paddy didn't look towards his clique, lineage, colour or ethnic group, but sourced for those with the right skills, the right aptitude, intelligence, talent and experience, who could contribute meaningfully to his endeavour, and brought them on board. He avoided mediocres. Only those who knew their stuff got on his team. One man does not make a forest. He surrounded himself with valuable sources of experience in the form of his mentor, his advisers etc., and reached across global distances to form alliances, even with those who initially competed against him. In Nigeria, we like to do things alone and this sometimes takes a huge toll on us. In many places here, collaboration is almost like a dirty word...and many of us, don't listen to good advice. Too many folks often think they know it all. 5). Aim high, stake big: Paddy sought for the best deal for his company. He didn't think small. Another person might have seen the Chevron Netherlands acquisition, as too big a deal, to even touch. But for Paddy, it was the perfect vehicle to launch his vision. He didn't think it was too far-fetched for a young African boy, to make a bid for the Dutch subsidiary of one of the world's most successful oil companies - Chevron. Paddy had what they called 'chutzpah,' the Hebrew word for confidence and audacity. 6). Choose the right strategy, and listen to your instincts: When the power play started, Paddy had to change his strategy. He applied native wisdom to his tactics. First, when someone on the team of his competitors was becoming an obstacle to his plans, he fired off an explosive e-mail to his partners, that upset the apple cart. In the ensuing scramble to unravel the subsequent chain of events, his greatest stumbling block on the opposing team called Alex, played right into his hands. Sometimes all the best advice in the world, might go against your gut instinct. What do you do? That is the million dollar question. It takes years of practice and sequence of events, to learn how to distinguish between the right gut instinct, and the wrong ones. Paddy made a few right calls when he followed his instincts, initially. But when he failed to go with his instincts, that one time - he lost. 7). Divine intervention has a part to play: Each time he was at a cross road, Paddy prayed. And somehow, answers came. He knew he didn't have all the answers so he trusted the Creator to step into the situation, and make things work out in his favour. Yet, in one instance he actually overlooked one of the answers sent to him by God, when he ignored Remi, an old friend who actually had the right keys to his puzzle. And it cost him big time, at the end of the day. There are too many lessons to be learnt from this story, and I do hope that one day, Paddy would launch another bid for a global oil firm . I believe his next venture would be successful. Why? He has gone through a difficult baptism, and has learnt too many valuable lessons in how NOT to fail again, in a business deal. They don't teach such things in Harvard Business School. cc: Kn23h, totit, deomelo, mercyville, Jetleee, superstar1, ODVanguard, Rosa Considine, ibkayee, robotix, ishilove, MasterChen, hilroy, Ritchiee, OkutaNla, kaysco, lalasticlala, macof, veraponpo, Konquest, Sanchez01, Jarus, naptu2, Katsumoto, Orikinla, Coptic, ramdeuter 12 Likes 5 Shares |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Tripodent(m): 2:47pm On Jan 31, 2018 |
Well done, Paddy Adenuga! This story is so inspirational to both young and old Nigerians who are pursuing their individual dreams!!! |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by billyG(m): 2:47pm On Jan 31, 2018 |
stephenmorris:bros all i need is a small change from you,paddy to start my agribiz & create employment for others. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by OAM4J: 3:13pm On Jan 31, 2018 |
MrMcJay: I have been around here long enough not to be surprised at the comments. You will find better comments and analysis in Big Brother Nigeria threads. I practically suspended all activities to read the story till end. How I wish I find business strategy stories like this to read every day free of charge here... I will be happier. 5 Likes 3 Shares |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by CeterisXVII: 3:15pm On Jan 31, 2018 |
einsteine: Ehn? Is that what you truly think? That "his story does not hold any lessons for the average business person?" Guy, this story has all the elements of a best seller and tons of valuable perspectives, for its readers. Try and free your mind. May God open the eyes of your understanding to see the truth. 2 Likes 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by mommaJ(f): 3:18pm On Jan 31, 2018 |
GOOD DAY NAIRALANDERS.I M STILL HERE...DONT GIVE UP ON ME YET
https://www.nairaland.com/4312232/husbanda-good-man-help#64528004 |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by CeterisXVII: 3:18pm On Jan 31, 2018 |
OAM4J: Oga, with all due respect, you and the other mods are part of the issues on NL. People post valuable insightful stories like this one every other day, but such stories never make it to the front page! If a celebrity is caught in a scandal or if he undresses in public, it hits NL front page in a matter of a few hours! Why?? I believe this particular thread should be left on the FP for at least 4 weeks so that people can read and learn from it. But will the mods allow it? No! 7 Likes 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Mariangeles(f): 3:23pm On Jan 31, 2018 |
MrMcJay:You made a good point until you decided to refer to a particular set of people...would your point not be made if you had generalized and not criticise Christians in particular? Do you think Christians are a set of people who do nothing but pray? Did you not read in the article that Paddy is a Christian? I am a Christian and I read through the article and found it very interesting and inspiring. For your information, most of the successful people in the world are Christians |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by chinnyonwu(m): 4:00pm On Jan 31, 2018 |
MrMcJay:As in i kept reading beyond page one to convince myself there was a sane person left on nairaland. The story was pure captivating with so many lessons but they were all saying its "too lengthy" and "nearly doesnt kill a bird" while failing to learn the obvious lessons. Someone said and i believe that you have a lot more to learn from failure stories (such as this) than success and El dorado stories. I personally picked a lot from this story, the highlight which is to be willing to pay for something, even if pricey, as long as the reward would be worth it. Im ashamed at NL. 5 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 4:02pm On Jan 31, 2018 |
Other lessons; 8. Give it all you have got: Paddy didn't approach the deal in a half-hearted manner. He went in with a lot of passion, energy and enthusiasm to make it work. He negotiated with a few influential folks to get the right kind of deals that would help his project. With others, he paid for their time & skill in order to get their support, for his dreams. He was pro-active and even reached out to the management of the largest state-owned oil & gas firm in the Netherlands. There were no short-cuts or half measures. That was why his failure to clinch the deal, hit him hard! 9). Always find out why you failed: In the business world, it is called asking for feedback. Paddy kept reaching out to the Chevron subsidiary to find out the outcome of his bid. The first feedback he received, led him to readjust his strategy and form a joint venture with his competitors. The second feedback he received, made him realise that he should have followed his gut instinct. He sought feedback and got it. The feedback tells you the reason why you failed. So that you can prevent similar set backs in future. It is the reason why pathologists carry out autopsies, or post-mortems, lawyers conduct inquests, and structural engineers as well as regulators seek to know why a building collapsed. In Nigeria, instead of seeking feedback, we prefer to attribute failure to bad luck, the enemies in the village or the fact that somebody does not like our face, stature or ethnic group. 6 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by biodunid: 4:25pm On Jan 31, 2018 |
Uptown babies don't cry.... |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by anigold(m): 4:26pm On Jan 31, 2018 |
Well am a billionaire about to be,my father is not rich but am proud to say am self-made with God's backing.. when your parents are wealthy becoming wealthy is easy and vice versa.. but my parents gave me love and Education which is very very important.. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by karniff: 4:37pm On Jan 31, 2018 |
If you haven't taken such ride in life u wouldn't understand a lot of intricacy left out of the good piece... Against his class or affluence he made a good move but his greed cost him from Edgar to Remi. And that's what you don't need in making a big one on massive deal. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by einsteine(m): 4:44pm On Jan 31, 2018 |
CeterisXVII: You say it has the elements of a best seller. Yes, it would make for a good start to a Stephen Frey financial thriller. I understand the entertainment value of a write-up like this. A lot of the people claiming they learnt from this are simply talking from an aspirational point of view. They wish to do multi-million dollar deals, bla bla bla but in point of fact, the whole story does not offer any ACTIONABLE insight or advice to the average reader as not only do they lack the resources to engage in such, they are also more likely to be involved in more mundane businesses. All in all, good on him but I don't give kudos to people who, if they were on the Forbes list, would have a self made score of less than 4. 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 4:48pm On Jan 31, 2018 |
karniff: Which greed? Didn't see any. With Edgar, he felt that Edgar's initial quoted fee was too high for his input (as he perceived it then), so he declined and walked away . But at the end of the day, when he went back to Edgar, he still paid the man's fees which had now doubled. It was his lack of experience in realising Edgar's value, that made him walk away initially. But I like Edgar. The man knew his own worth, and didn't sell himself short. With Remi, he was trying to take precautions against being jinxed, by people from back home in Naija. He had nothing against Remi personally. And Remi never asked for a cut of his deal, did he? So where does greed come into it? 3 Likes 2 Shares |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 4:50pm On Jan 31, 2018 |
einsteine: Even after all the points made by various people on this thread? Read it again, and pray for divine insight to comprehend the actionable lessons, in it. 4 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by BENEAMATA: 4:54pm On Jan 31, 2018 |
To all those business moguls here on nairaland talking down a dogged and determined young black male who had the zeal and know how at 29 to thread where even billions of people will not dream of at same age in a bid to achieve greatness and wealth,with put downs like 'nearly cannot bla, bla,' i just have one afrcan proverb for you, and it says 'let the kittens aim to copy the tiger's feats that they feel is not spectacular'.That's it, you can run along now and do one.It won't kill any one of us on nairaland to be positive for a moment,just.I thanl the almighty who made paddy a lion where many wealthy men's kid like him are junkies and degenerate ganblers. 2 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by iboboyswag(m): 5:17pm On Jan 31, 2018 |
I have read through and I feel the need to lend my voice. A lot of the kids on here need to sit down, keep quiet and listen or rather I say read. There is so much to learn from the young man and his conquest, he had tread were only few dared and though it might seem that he failed, to my humble self, he learnt. I have also known he would go places, from the early days when he and sister were announced as directors in Glo, and I read a piece he wrote on the papers, I fell in love with his intelligence being sapiosexual myself. Paddy has what it takes and has proven same, without the casting shadows of his last name, he tried to play it big and his hand although came short, was a master stroke. His background played a great deal in shaping him but to be shaped was the choice him alone made. We have had the mutalabs', the Akindeles', the Ukiwes' and the Mbadiwes' to name a few who made southward choices and made their names count for nothing. Today I salute you Paddy... As with many sane others, you have made us proud and I only smell new conquest in the horizon. Please keep up the good work! And to those aspiring, the field is always level, you only by your vision choose the side you play on. 9 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by modath(f): 5:21pm On Jan 31, 2018 |
chinnyonwu: That's NL for you... 2 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Spidermon: 5:23pm On Jan 31, 2018 |
einsteine: Let them be acting all sanctimonious. Paddy came from Money and at 29 had contacts and connects of people he knew through his priviledged upbringing. He even made references to people mentioning how they knew his dad. Brand new S- class vehicles to transport to meetings, flights to Carlifornia, Malibu, Los Angeles. On this failed attempt of his, judging from the article, he must have burnt at least $200,000 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by ikyTech(m): 6:37pm On Jan 31, 2018 |
You my friend, are intelligent nateevs: 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by amokeme(f): 6:45pm On Jan 31, 2018 |
Oh wow! This is amazing.... and interesting at the same time, now I look at Mr P in a different light. I mean, he is definitely an intelligent young man. Learnt from his story too. Looking back, I've lost somethings due to ego and pride. And another thing? It's very healthy to talk to the right people! The Remi part broke my heart! It's crazy painful. 4 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Riversides2003(m): 6:50pm On Jan 31, 2018 |
Nice one |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by valentineuwakwe(m): 6:54pm On Jan 31, 2018 |
at 29 is even late for you being a son of a billionaire who got involve in an oil trading deal....how much was a barrel in 2013?...well, i expect to hear you say more than these...cheers |
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