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Success Story Of Billionaire Industrialist: Samuel Adedoyin - Business (3) - Nairaland

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Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Iamgrey5(m): 10:57am On Aug 21, 2019
SouthSouth1914:


Same rhetoric we heard during Mr Invictus’s rise to glory
He is not from invictus generation bruv

He started hustling in the 1940s when Nigerians still thought corruption and money laundering is a crime

4 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by SouthSouth1914: 11:00am On Aug 21, 2019
Iamgrey5:
He is not from invictus generation bruv

He started hustling in the 1940s when Nigerians still thought corruption and money laundering is a crime

Lol.., nice comment!
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Ugosample(m): 11:02am On Aug 21, 2019
WebLab:
Kudos to the man for his hard work. This 'invictus' generation needs to learn.

lasting wealth takes time to build
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by samwise180(m): 11:05am On Aug 21, 2019
Doyin cube the husband snatcher, that advert on radio back then .

1 Like

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Rubicon67(m): 11:10am On Aug 21, 2019
hisexcellency34:
With all these products, How come Dangote is richer than him?

With all due respect, this will probably be up there with the top 10 stupidest questions on this forum.

Would you also ask why Mark Zuckerberg is richer than Dangote without owning a truck?

These are legitimate successful people and if you dont get inspired by their stories, then you are beyond help.

8 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by starbright4real(m): 11:10am On Aug 21, 2019
gud day, pls i seriously need a job, i am a graduate of accounting (hnd) 07037799108
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Omooba77: 11:11am On Aug 21, 2019
immortalityk:
The Early Life Of Samuel Adedoyin
Samuel Adedoyin was born in Lagos in the year 1935, to Mr. and Mrs. Solomon Adedoyin Olaosebikan and Rachel Oni, who were both farmers, while his mother was also an aso-oke weaver. After his birth, Samuel Adedoyin was taken back to Agbamu in Kwara state, where he had is primary school education at Saint Paul Primary School, Agbamu.
After ending his primary school education at primary four because his father couldn’t afford to further pay for his education, he went on to learn palm wine tapping, before he moved back to Lagos to live with his father at Ebute Metta—where he mostly slept in his father’s store in Enu Owa.

His Trials
Samuel Adedoyin, a determined and motivated individual, wanted to become well-read, and in the process, tried to travel to England in a stowaway ship, but was arrested at Takoradi in Ghana, where he was going to be sent back to Lagos.
In a bid to avoid this and go back to square one, Samuel Adedoyin begged an immigration officer to let him stay and work with him, so he could raise some money. The officer agreed and made him his houseboy.
After having worked for the immigration officer for a while, he begged him to let him go, as he could no longer cope. After his boss eventually agreed, he left him with about £2, which Samuel Adedoyin used to start a roadside petty trade in Accra, Ghana, where he sold padlocks and door hinges, despite having nowhere to sleep.
While running his business, he met a vendor who sold the Ashanti Pioneer newspaper. The vendor introduced him to the publisher’s daughter, who went on to give him a place to sleep and also made him a distributor for the newspaper.
After running the newspaper business for about 3 to 4 months with little to no success, Samuel Adedoyin went back to selling padlocks, since it was a far more profitable business for him.
At this point, it was 1949 and he had spent about 13 months in Ghana, during which he saved up about £48.
Now when he returned to Nigeria, he found out his mother had spent about £50 of borrowed money in a bid to look for him. Remorseful and sad, Samuel Adedoyin gave her all he had saved up, so she could repay her debts, leaving him with nothing to return to Ghana with.


The Start Of The Doyin Group
In Lagos, Samuel Adedoyin started a business at number 49, Dosunmu Street, where he sold umbrellas, imported holiday bags, and ball-point pens from Italy. He was able to make £9,600 from a surge of buyers, which shocked every trader around him. From the revenue generated, he bought the space at 49, Dosunmu Street for £9,000.
As he spread his product offerings, he bought another property about 3 years later, and further acquired 9 houses in the Idumota area of Lagos, before eventually building a house for himself at the Rummens Road area of Ikoyi.
After running his trade for a couple of years and building on his successes, Samuel Adedoyin officially launched the Doyin Group in 1968, which was a business into the manufacturing of leather bags and shoes.


His Business Today
Today, the Doyin Group has over 14 subsidiaries, a workforce of over 5,000 people, and has grown to encompass a wide range of investments across different industries like real estate, hospitality, manufacturing, food and beverages, soaps and detergents, pharmaceuticals, agriculture, and a whole lot more.


http://startuptipsdaily.com/success-story-samuel-adedoyin/


Babami Doyin Agbamu, Ala le Igbomina agbeyin ooo.
Kini tolo bunmi nko
Abo ni bunmi mo
Osanu, O bunmi.......
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by PECON1: 11:17am On Aug 21, 2019
Cut and join rag to riches story.may God bless you sir.its not easy to be a success story in this country.
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Nobody: 11:19am On Aug 21, 2019
Kalashnikov102:
nothing good comes easy..jus keep pushing and believing


In as much as i encourage hard and good works , most of these old rich men are Ogboni fraternity.
You'll never know until they pass on and these cultist invade their burial ceremony.

1 Like 1 Share

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Omooba77: 11:22am On Aug 21, 2019
samwise180:
Doyin cube the husband snatcher, that advert on radio back then .
Doyin cube lemi nlo ooo
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Revolva(m): 11:22am On Aug 21, 2019
IamCharles123:

Am telling you.
I have never heard of this product b4. This is just advert.

There for you be small pikin

If you de watch TV around the 90s this man and rasaq okoya de drag position and dangote

For industralist only that these days doyin don't do too.muvh advertising of their product oo

Go to orile last bustop side that bustop was names after his factory Influence doyin bustop

3 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Studyinchina200(m): 11:23am On Aug 21, 2019
At least, he is richer than you.
hisexcellency34:
With all these products, How come Dangote is richer than him?
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Nobody: 11:24am On Aug 21, 2019
VillagePipu:


I guess you've also not heard about Olu Okeowo, Razak Okoya Thomas, etc. If I come mention Harry Akande and Deinde Fernandez, you fit run mad be that.

May God uplift you from backwardness.

You see what i talked about. Dehinde Fernandez was known to be Oluwo of an Ogboni fraternity and when he died his wife married a younger lover .
Don't trust the wealth of these so called Old money.
They might have been at the forefront but you don't know what lies beneath their wealth.

1 Like 1 Share

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by CeterisXVIII: 11:25am On Aug 21, 2019
Chill2:
Majority of these CEO in Nigeria made their money by getting inflated government contracts, defrauding people, cheating the Nigeria system, laundering money for politicians and finally going diabolic to become invisible so they can enjoy their loot. How many Nigerian private business survive after the exit of the owner. Nigeria is a scam!
Nigerian-owned businesses don't succeed after the death of the founder, because such founders do not put a valid and structured succession plan in place, while they are still alive.

Another thing is that many of them are polygamists, with multiple wives and many children.

After they die, these wives, children and relatives start fighting for a piece of the property that the founder left behind. Before you know it, the business dies as everyone grabs a piece of its' assets, for themselves.

Others go to court and get a lien placed on the property, or raise a caveat against the man's will. The case lingers in court for many years, while the business eventually dies through lack of proper supervision. sad

The reasons are too many. The last one that always upsets me, is that these founders send their kids abroad to study and those kids eventually build their own lives abroad, instead of acquiring skills to come back home and run their father's business. undecided

Some kids even end up being strangers to their fatherland. And parents of such children indulge them, in their foreign pursuits.

By the time such parents who founded the companies die, the kids come back and are out of touch with all their father's built or laboured for, because they were not part of its' growth, in the first place. Those kids have no intention of staying back, and have absolutely no interest in the business. cry

Tell me, how will such businesses then survive?

11 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by BabaIbo: 11:28am On Aug 21, 2019
IamCharles123:

Am telling you.
I have never heard of this product b4. This is just advert.


You took the words out of my mouth
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by BlackfireX: 11:29am On Aug 21, 2019
MANNABBQGRILLS:

You should bury your head between your legs.
He is even replying.

Dis one sef dey find girls number.
No enter street go hustle. cheesy wink
Orisirisi something...




With the way you are going, you will soon become a witch...
Are you the girl No.
Do you have her number No.
Do you know her No.



Mr dead meat , have you been paid your BMC monthly salary?? If no take your frustration of Nigeria govt to samba Forest.
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Bakbillz44(m): 11:33am On Aug 21, 2019
Starz825:
The story was touching and interesting until the writer jumped from the point where he had no money on him after giving up all he had to his mother to pay outstanding debt to aw he began to make more money through importation...
Bro, I bin think say na only me see that missing part of the story o. A crucial part for that matter. I'm not surprised anyway, Nigerian rich men success story no dey complete. There's always some missing parts just like dis one... It's a K constant

2 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Cantonese: 11:37am On Aug 21, 2019
SouthSouth1914:
I hope this is not another INVICTUS story in disguise?

With gaps in dates? What happened to his bank where in the 90s where depositors lost over 4 billion naira?
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Chill2: 11:42am On Aug 21, 2019
The point am trying to make is that most Nigerian business don't have foundation or critical manpower development to bring about sustainable growth. The growth you see most times is dependent on the influence of the owner which is tied to those peculiar factors I mentioned in my post. I know someone that took over his Dad's business but coundn't understand the tricks his Dad plays to get product. If Nigerian business are ran genuinely without corrupt practices you will see business that survive a 100 years. Look out for "CNN 100 club"
CeterisXVIII:

Nigerian-owned businesses don't succeed after the death of the founder, because such founders do not put in place a valid and structured succession plan in place, while they are still alive.

Another thing is that many of them are polygamists, with multiple wives and many children.

After they die, these wives, children and relatives start fighting for a piece of the property that the founder left behind. Before you know it, the business dies as everyone grabs a piece of its' assets, for themselves.

Others go to court and get a lien placed on the property, or raise a caveat against the man's will. The case lingers in court for many years, while the business eventually dies through lack of proper supervision. sad

The reasons are too many. The last one that always upsets me, is that these founders send their kids abroad to study and those kids eventually build their own lives abroad, instead of acquiring skills to come back and run their father's business. undecided Some kids even end up being strangers to their fatherland. And parents of such kids indulge them, in their foreign pursuits.

By the time such parents who founded the companies die, the kids come back and are out of touch with all their father's built or laboured for, because they were not part of its' growth, in the first place. Those kids have no intention of staying back, and have absolutely no interest in the business. cry

Tell me, how will such businesses then survive?

2 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by CeterisXVIII: 11:44am On Aug 21, 2019
muyiwaadekunle1:
You see what i talked about. Dehinde Fernandez was known to be Oluwo of an Ogboni fraternity and when he died his wife married a younger lover .
Don't trust the wealth of these so called Old money.
They might have been at the forefront but you don't know what lies beneath their wealth.
Even if Fernandez was not in the Ogboni fraternity, his widow would still have married another man. She was a Northern runs girl, before she married him and never got along with his family members, after the marriage.

Fernandez had also been married at different times, to 4 other different women that he ended up divorcing one after the other. Erelu Abiola Dosunmu (Erelu Kuti IV), was one of his wives.

2 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by VillagePipu: 11:47am On Aug 21, 2019
muyiwaadekunle1:


You see what i talked about. Dehinde Fernandez was known to be Oluwo of an Ogboni fraternity and when he died his wife married a younger lover .
Don't trust the wealth of these so called Old money.
They might have been at the forefront but you don't know what lies beneath their wealth.

Abraham was rich and he was a man of his God.
When his wife died, he married a younger woman.

Do you want me to list Pastors whose wives died and they married younger women? Remember Pst. Odukoya?

Going by your analogy, what was beneath their wealth and successes?

2 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Wasky101: 11:48am On Aug 21, 2019
Stephendeals:
Nigeria need more industrialist. We need to identify products that can be manufactured locally and ensure we stop as a major consuming economy.
Imagine how embarrassing when Minister of Science and tech confessed that we dont even produce pencils or toothpick as at 2 years ago


We already have the industrialist nah the capital to start no dey.
Off course they won't tell you how easy it was for him to secure a loan at the time.
Today Nigeria nah God for us all, All man for himself sadly God doesn't give start up loans


I sell new computer products |printers|Laptops|Desktops|Photocopiers
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Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by euromilion: 12:00pm On Aug 21, 2019
Starz825:
The story was touching and interesting until the writer jumped from the point where he had no money on him after giving up all he had to his mother to pay outstanding debt to aw he began to make more money through importation...

It's a classic Nigerian success stories always go from gear 1 to 5 without middle ground.

1 Like

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by phoenix90(m): 12:01pm On Aug 21, 2019
He gave the mother £48 and leaving him with nothing. All of a sudden started importing umbrellas and ball point pens. Ejoor pls fill in the missing history

1 Like

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by RealityShot: 12:01pm On Aug 21, 2019
SUMMARY Start any Business you Can now.. Do not wait for the PERFECT BUSINESS
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by MyGeneration(m): 12:02pm On Aug 21, 2019
VillagePipu:


That's why we say where we were 50 years ago, you mumu people can't get there in 100 years. We don progress comot that level, your still stuck in petty trading inside 2by2 chicken-cage shops.

There's a difference between trading and commerce. While we have moved from trading to commerce, you guys are still stuck at the trading level.
u too mumu for me to give u a reasonable reply. so fvck off
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by femi4: 12:04pm On Aug 21, 2019
IamCharles123:

Am telling you.
I have never heard of this product b4. This is just advert.
you must be living in stone age or belong to indomie generation.

Dent o clean, Doyin cube are household names

1 Like

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Softenergy(m): 12:06pm On Aug 21, 2019
Was early maker of refrigerator called Debo fridge, I worked for him in 1981 to 1983, under Adebowole electronics,went off to start my own cold room installation and AC, Refrigerator,freezer and household electronics repairs and maintenance for over 21 years made good money and move on to something, solar green energy development

1 Like

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by Softenergy(m): 12:11pm On Aug 21, 2019
Bakbillz44:

Bro, I bin think say na only me see that missing part of the story o. A crucial part for that matter. I'm not surprised anyway, Nigerian rich men success story no dey complete. There's always some missing parts just like dis one... It's a K constant
Been an importer during his time, comes at zero capital start up, if you showed dependability and trustworthiness.
Many foreign companies and individuals descended in Nigeria, seeking who will be their manufacturer agent or representative.The only agreement then was after selling off goods sent to you, remit the money and profit accured to the foreign partner.
Today that ain't so, that why you seemed mystified in the missing details.

3 Likes

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by MyGeneration(m): 12:12pm On Aug 21, 2019
phoenix90:
He gave the mother £48 and leaving him with nothing. All of a sudden started importing umbrellas and ball point pens. Ejoor pls fill in the missing history
lol

1 Like

Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by IamCharles123: 12:13pm On Aug 21, 2019
femi4:
you must be living in stone age or belong to indomie generation.

Dent o clean, Doyin cube are household names
Nope, i leave in warri, i have travel to almost all state in Nigeria, never heard of any doyin product, maybe i have not been too observant but am pretty sure we dont use any doyin products in my house.
Re: Success Story Of Billionaire Industrialist: Samuel Adedoyin by CeterisXVIII: 12:14pm On Aug 21, 2019
Chill2:
The point am trying to make is that most Nigerian business don't have foundation or critical manpower development to bring about sustainable growth. The growth you see most times is dependent on the influence of the owner which is tied to those peculiar factors I mentioned in my post. I know someone that took over his Dad's business but coundn't understand the tricks his Dad plays to get product. If Nigerian business are ran genuinely without corrupt practices you will see business that survive a 100 years. Look out for "CNN 100 club"
Many businesses lack the right critical manpower to bring about development, because their owners hardly recruit the right calibre of experienced personnel, to nurture its' growth to the ñext level. sad

They hardly have a talent development programme or training programme in place, to improve the skills of their staff.

Sometimes, they even recruit staff based on sentiments, nepotism or favouritism. Solid expertise and experience does not come cheap, and some business owners lack the funds to hire well experienced professionals, who can manage their businesses for them.

In cases where they hire such experienced professionals, then such owners often interfere in the daily running of the firm, instead of allowing the professionals to do their job properly. undecided

Even when the business has a solid foundation, if the man's relatives fight to take over the business after his death, and the person who eventually gets it lacks the right skills and expertise to run it properly, will the business not die?

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