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Why Are We Not Making Money Like Dangote? - Business (3) - Nairaland

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Does God Like Dangote More Than My Father? / MY PROPOSAL: How To Become Successful Like DANGOTE / How Do I Get Distributorship, Like Dangote, Cadbury, Nestle Etc In Nigeria? (2) (3) (4)

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Re: Why Are We Not Making Money Like Dangote? by monopolist: 12:42pm On Jun 01, 2011
Right Vision, Right Time, Right Place, Good window of opportunity, Divine Favour, Wise Work, Diligence, Discipline, Network, Seed Capital, Talents, Natural Endowments, Supernatural Endowment, Right Association, Heavenly Inspired Ideas, Inspirations, Prayer & Fasting, ,

Plus Supernatural Financial Intelligence (Generated from Financial Education)

Plus Trust

Plus Courage

Plus Compassion (Compound Passion)

Plus VIOLENT FAITH

Plus THE HOLY SPIRIT


Will make you emerge a greater than Dangote, Adenuga, Otedola, Buffett, Bill Gates, Branson, Slim Helu put together

FOOD FOR LIFE PROJECT         kingolusola@gmail.com
Re: Why Are We Not Making Money Like Dangote? by jaybee3(m): 12:45pm On Jun 01, 2011
AjanleKoko:

Most of those people in Nigeria, Dangote and Adenuga, just hire and fire the so-called smart people at will. They basically use them like toilet paper.
There are always old alliances and concessions that these men work to secure by themselves. I remember when Adenuga's CIL bid was voided by NCC. The next day, he showed up in Aso Rock. Prolly, that's why he got an SNO license for $200 million, when the other chaps paid $285m for just the mobile license. Book smarts had nothing to do with that.
I'm not aware of the inside dealings but on the probability scale, chances of making it big if one is book smart (smart is the key word and this is something you either get by being naturally gifted or training oneself to be) in conjunction with having the right connection and enabling environment is like 10 outta 10.

I do get your drift though  cool
Re: Why Are We Not Making Money Like Dangote? by babaelesin: 12:49pm On Jun 01, 2011
Both rich and poor have the same sun shining on them, the same wind blowing for their breathing and they both carry one head. But why is the poor poor and the rich rich. Let's forget about Dangote. Why are you poor and still remain poor. Reason is, many chose to be content in poverty. Economist would tell us that poor income leads to poor savings and when savings are poor, then there will be nothing to invest with and the circle keep on and on from generation to genration. Beyond econmists view there are many other forces that keep people in penury viz: attitudes, culture, etc.
For one to get out of poverty line, you need determination, be ready to suffer a little before you start to enjoy. The secret of business success is to start from the scratch and to continue scratching.
Re: Why Are We Not Making Money Like Dangote? by AjanleKoko: 1:06pm On Jun 01, 2011
jay bee:

I'm not aware of the inside dealings but on the probability scale, chances of making it big if one is book smart (smart is the key word and this is something you either get by being naturally gifted or training oneself to be) in conjunction with having the right connection and enabling environment is like 10 outta 10.

I do get your drift though  cool


yeah.
I'm not knocking book smart. I'm book smart, and so are you. We are guaranteed a comfortable life, maybe even a wealthy one.
But to be a super-billionaire, you need to do like Branson, Dangote and some of these other guys, and throw the book away at some point.

I think, for you to be super-rich, you need to be super-obsessed about something, what you believe to be a potential cash cow. That obsession will keep you digging and digging till you hit the mother lode. That's why a Baba Ijebu (my fav example) would fail at 8 different lottery schemes, till he finally hit it big with the 9th one. And that's why Branson would stumble into business after business, sometimes with no cash, till he finally started celebrating a multi-billion pound net worth.
Re: Why Are We Not Making Money Like Dangote? by Koolking(m): 1:09pm On Jun 01, 2011
There is no basis for comparing Dangote with some of us. Apparently, Dangote was born into greatness. He strives on government policies (monopoly) that does not favour the masses. Let govt review all the policies towards him, preferences given to him - As sure as hell, the effect will be colossal.

Ponder this: If you are given N10million to start a business (I don't mean from banks but from your parents), and you went into sales and supply of garri (stable food in Nigeria). As if you walked into privileges, the government decided to reward you (cos of your parents' loyalty) -  The reward: to be the only mainstream supplier of garri in Nigeria and beyond. Tell me with all politeness, would you research why you are richer than most of us?
Re: Why Are We Not Making Money Like Dangote? by manny4life(m): 1:14pm On Jun 01, 2011
They were able to think creatively and outside the box, while you're not. Everything is not book, in fact most billionaires did not enter their wealth after College. Anyway the moment you learn to think differently, and put your though process to work, for sure maybe not billion but u will make it and as time moves on you explore other opportunities. Google for instance decided that their Search Engine isn't gonna cut all the money, today they ventured into OS, Green Energy, Auto Manufacturing (electrical cars with Tesla), and the list goes on. That's how u make wealth. People have one million and will let it seat in the bank making 3% interest rate while others will take the risk divide the money into half and start a new venture that will yield more in the long run.
Re: Why Are We Not Making Money Like Dangote? by 222Martins(m): 1:37pm On Jun 01, 2011
Dangote is a monopolist and i agree to that. But i love monopoly especially in the case where i'm a monopolist. Bill gates, Carlos Slim Helu, John D. Rockefeller and some other billionaires became rich by playing the game of monopoly. Nairaland too was an online Nigerian monopoly before other forums sprang up. If i have a chance, i'll also play the game of monopoly to the fullest.
Re: Why Are We Not Making Money Like Dangote? by lastpage: 1:44pm On Jun 01, 2011
This bit sums up the difference!

@Lorddpx: Was a graduate at the age of 23. Worked at a reputable bank and top profile construction company, and resigned to start my own business after coming into some capital and went into farming. Mind you, besides been a farmer, working on a 2nd degree, and I add a professional certs yearly. Last year, NIPR, and currently at NIMN.
I started my farm with 2000 birds, 500 fingerlings and after a year of been starved of capital: need a pen besides existing land, and battery cages cost a fortune as well as van etc
The products (eggs, chickens, fish, pork) has a shocking demand, and theres limitless market in this country for agricultural products, eggs, chickens, turkeys, snails, fish, etc
Seriously, its been like hell when you cant even approach a bank for loans. Their beauricratic carousel alone is enough to kill your spirit but well man's gotta fight.
Right now, I am operating with marginal profits, I cant expand because where on earth will the capital come from when UBA, and FCMB told me that the 50billion naira agricultural loan is for the types of Dangotes alone. They told me I must have an asset worth 300 million naira before they can give me a loan. Isnt that an insult! And you wonder who gave them this loan in the first place; if it wasnt our own lazy FG and I sometimes wonder if Lamido is actually aware of what youths are going through in this country. And talk about the bank of industry, those guys would rather pass loans to their housekeepers rather than people with vision and dreams. Ive become a professional loan seeker, and right now, its a job im thinking wont yeild anything in this country as long as your into agriculture or anything long term. Banks dont like risky business. They give loans to businesses they understand, and this is why Nigeria is still stuck in the past. Old toilet. New toilet. Same excreta
Anyways, I am still stuck between deciding on leaving the business because of its high capital depedency. For a long time now, I keep making money and seeing it disappear on expenses, and keeping my workers and customers satisfied, and this is getting a little old for me now.
There are several Nigerians who will make Dangote look like he needs to go back to school to relearn business if given the right capital. Its just a shame that wont happen.

I just hope that Dangote and all his wealth will stop putting Trailers that suck-up innocent peoples blood, ON THE ROAD!
Did anyone read/notice when he Dangote told President Jonathan that "His company looses no less than 5,000 Trucks every year, to road accidents?

Now, tell me: A so-smart chap like him should have done something about that.,.,.,.,.,IF HE WANTED TO! wink

BTW: I do not aspire to be like Dangote! I just want to be me and l am very comfortable in my own skin!! grin
Re: Why Are We Not Making Money Like Dangote? by oladayo042: 2:54pm On Jun 01, 2011
xtremeidea:

We can't all make money like Dangote cuz it will lead to inflation and decrease in the worth of money. Money is meant to be scarce, everybody cant be wealthy.

e.g if gold or diamond were as available as gravel or like the stone we pick up on the street, value wil not be placed on it. they are all stones but gold and diamond are scarce. thats why they place high value on them.

So my brother looking at it from an economic angle, it can't just be possible so the economy can be balanced.

Another thing u fail to realize is that as another dangote rises in nigeria (probably u @ poster), another billionaire will fall some where in the world. thatz just the way it is.
Can someone explain the bolded? How does it become a zero-sum game?
Re: Why Are We Not Making Money Like Dangote? by Wallie(m): 3:00pm On Jun 01, 2011
In addition to what Jarus said on the first page, you need luck, timing, hard work, discipline, perseverance and obsession.

We all like to believe that we can be another Dangote if given the same startup capital but that’s not remotely true. If it is true, how do you explain most people born into wealth that can’t seem to multiply it? There’s a huge difference between having a few millions dollars and being a billionaire!

Here’s an adage for you, "shirtsleeves to shirtsleeves in three generations." Typically, wealth only lasts three generations; with the first generation making it, the second generation preserving it, and the third generation depleting it.
Re: Why Are We Not Making Money Like Dangote? by Wallie(m): 3:12pm On Jun 01, 2011
oladayo042:

Can someone explain the bolded? How does it become a zero-sum game?

It is not really zero-sum because more money is being introduced into the system and if just one person or a few people somehow absorbed all that new money printed, other people will not be affected directly. Indirectly, the person or people that absorbed all that new money might create inflation. Imagine if that person now decides to buy all the houses in VI with his billions. That will reduce supply and create demand because other people want the same.

Also, someone said the raise of a billionaire means the fall of another. That’s not true. If the whole of Nigeria gives me one naira per day, I will become a billionaire at Nigerian’s expense and not another billionaire’s expense.
Re: Why Are We Not Making Money Like Dangote? by verbena: 3:28pm On Jun 01, 2011
the fact your asking this question rather than figuring ways to put your business ideas into fruition. As they say empty barrels make the loudest noise
Re: Why Are We Not Making Money Like Dangote? by chines4(m): 4:14pm On Jun 01, 2011
I don't know why ppl just can't see something good in others, Why pple just believe that the like of Dangote, Adenuga, Otudeko,Otedola etc are just wonderful entreprenuers. and should be look at as mentors.

Someone that Alhaji Dantata gave him his seed money. Good have u asked u'r self where are the Dandata's compare with Dangote today.

Otedola is he the only son of past governor?

Adenuga is he the only son of a rich mother, etc

A book like Rich Dad, Poor Dad is an eye opener. Our educational system should encourage more entrepreneurs than book worms. For some of us that have ventured into so many ventures don't give up. Starting can never be easy, and success can not be easy, if not every Tom D1ck and Harry will be Dangote now.
Entrepreneurship is the key, it is not late start thinking outside the box. I can remember one company in Lagos"poo is Serious Business" can you beat that.
Re: Why Are We Not Making Money Like Dangote? by jlatifah00: 4:41pm On Jun 01, 2011
Nigerians i bow for una, Why is it like you always like to beef your own people why?afterall with all the money SANI ABACHA stole none of us can point to any company that have 10,000 working staff as it own,with all the money LATE M.K.O ABIOLA stole for his family none of us can point to any company owned by KOLA ABIOLA with the least 200 persons as working staff and lots of other eminent personalities like that ,there kids squander all there wealth and it vanish into oblivion, so please lets support our own and stop this hatred for once, i know you all would still talk about me one day when i make it that i am making my money illegally, UP DANGOTE UP NIGERIA,
Re: Why Are We Not Making Money Like Dangote? by no1madman(m): 4:50pm On Jun 01, 2011
Who gives a flyin Zap . . .i don't fuckin respect money. . .Zap money! money chop Poo!
Re: Why Are We Not Making Money Like Dangote? by jlatifah00: 4:59pm On Jun 01, 2011
@nomadam1 that is is a real lie, everybody loves money it is just that when you dont have money you continue to give excuses ok,
Re: Why Are We Not Making Money Like Dangote? by chines4(m): 5:55pm On Jun 01, 2011
no1madman:

Who gives a flyin Zap . . .i don't fuckin respect money. . .Zap money! money chop Poo!
Madman are you sure that its not f.u.ck that made u mad. Everything about is f.u.ck
Re: Why Are We Not Making Money Like Dangote? by tankwa: 6:11pm On Jun 01, 2011
If you want to make money like Dangote, i will advice you to meet me at Onitsha.
There is a breast you will suck to your satisfaction(Ara Nwanyi Asaba). The woman is now in in bayelsa but have a liason office at Asaba. It all depends on you. Suck to your satisfaction and wait for a fowl to appear.
At this time, you will be given a corn seed to spray to the direction of the fowl. For eg. if the fowl pecks 3 seeds that means after 3years you will die but you will have as much money as you need. if the the fowl does not peck any seed, you go back and contineu with youe poverty. Your life span depend on the no of seeds pecked by the fowl.
Meet me at onitsha.
Now i have money more that Dangote.
Re: Why Are We Not Making Money Like Dangote? by dayokanu(m): 6:25pm On Jun 01, 2011
I am
Re: Why Are We Not Making Money Like Dangote? by Koolstan(m): 6:38pm On Jun 01, 2011
Cause we all don't have the same entreprenurial skills. Most people are contented with their monthly income. Besides, the get rich quick syndrome. It takes years to build wealth.
Re: Why Are We Not Making Money Like Dangote? by mecussey(m): 9:39pm On Jun 01, 2011
Those who say Dangote is from a wealthy family, I am sorry for you. The bible said it all, if you had the opportunity Dangote had, you might not have been as rich as Dangote. Dangote multiplied what he had, can you multiply what you have? Dangote must have taken enough risk most of us have not taken, basically that's why he is richer than us.
Re: Why Are We Not Making Money Like Dangote? by EPOMA(m): 11:25pm On Jun 01, 2011
deenee:

Nice thread, Dangote has made money because he invested his seed money wisely.I will still go back to the question asked, what would you do if you get a 2 million naira jackpot today?

For those that have picked gates,buffet and branson as mentors, these people like dangote are part of the capitalist system.

Are we quick to forget the antitrust case against gates in the late 90s when he acquired and liquidated every hi-tech firm in silicon valley that is a perceived threat? need i talk about branson who hides under the auspices of the 'virgin' brand to kill competition? buffet on the other is an investor and not an entrepreneur because he only invests in companies unlike dangote,gates and branson.

I will not dispute the fact that he has used his proximity to the seat of power to increase his wealth.truth be told in the eyes of a capitalist this is called 'NETWORKING'

Finally, I will ask again:-what would you do if you get a 2 million jackpot? if you cannot provide an idea that includes a business plan that will turn the jackpot into an income generating asset, then stop BEEFING

DANGOTE is my Mentor anyday!

Branson started business after he travelled across the English Channel and purchased crates of "cut-out" records from a record discounter.[citation needed] He sold the records out of the boot of his car to retail outlets in London. He continued selling cut-outs through a record mail order business in 1970. Trading under the name "Virgin", he sold records for considerably less than the "High Street" outlets, especially the chain W. H. Smith. The name "Virgin" was suggested by one of Branson's early employees because they were all new at business.[10] At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit so-called resale price maintenance.[11] In effect, Branson began the series of changes that led to large-scale discounting of recorded music.

Branson eventually started a record shop in Oxford Street in London. In 1971, Branson was arrested and charged for selling records in Virgin stores that had been declared export stock. He settled out-of-court with UK Customs and Excise with an agreement to repay the unpaid tax and a fine. Branson's mother Eve re-mortgaged the family home to help pay the settlement.[10]

Earning enough money from his record store, Branson in 1972 launched the record label Virgin Records with Nik Powell and bought a country estate, in which he installed a recording studio. He leased out studio time to fledgling artists, including multi-instrumentalist Mike Oldfield, whose debut album Tubular Bells (1973) was Virgin Records' first release and a chart-topping best-seller.

Virgin signed such controversial bands as the Sex Pistols, which other companies were reluctant to sign. It also won praise for exposing the public to such obscure avant-garde music as Faust and Can. Virgin Records also introduced Culture Club to the music world. In the early 1980s, Virgin purchased the gay nightclub Heaven. In 1991, in a consortium with David Frost, Richard Branson had made the unsuccessful bid for three ITV franchisees under the CPV-TV name. The early 1980s also saw his only attempt as a producer—on the novelty record "Baa, Baa, Black Sheep", by Singing Sheep in association with Doug McLean and Grace McDonald. The recording was a series of sheep baaing along to a drum machine produced track and even made the charts at number 42 in 1982.

In 1992, to keep his airline company afloat, Branson sold the Virgin label to EMI for £500 million.[12] Branson says that he wept when the sale was completed since the record business had been the birth of the Virgin Empire. He later formed V2 Records to re-enter the music business.[13]

My friend will say what you Know, How did Richard Branson kill competition to become rich and it is far more differnet from you being given monopoly by a government and avoiding paying import taxes. I have an interview of Branson say that the sweet mother album in 1976 really help grew his money in Africa.

If I had 2 million Naira now in Nigeria I will use it to go in to politics and grow from there as it is a business.
Re: Why Are We Not Making Money Like Dangote? by Thirst4Lif: 12:56am On Jun 02, 2011
I don't think people like Dangote got to be so successful by accident. First of all, I've

read the man came from money, so he already had a financial cushion. I think people

like Dangote started out with a plan and they followed through. Most of us start out with

an idea, hit a stumbling block and become discouraged. Clearly Dangote did not give up, but

the man was already sitting on a goldmine, just as Bill Gates, so why would he? He persevered

until he attained his goal. At least he wasn't content just being a trust fund baby. All in all I applaud Dangote for all of his success.

I remember when Adenuga's CIL bid was voided by NCC. The next day, he showed up in Aso Rock. Prolly, that's why he got an SNO license for $200 million, when the other chaps paid $285m for just the mobile license.

The man had a back-up plan. Smart Man!
Re: Why Are We Not Making Money Like Dangote? by Thirst4Lif: 1:18am On Jun 02, 2011
Right Vision, Right Time, Right Place, Good window of opportunity, Divine Favour, Wise Work, Diligence, Discipline, Network, Seed Capital, Talents, Natural Endowments, Supernatural Endowment, Right Association, Heavenly Inspired Ideas, Inspirations, Prayer & Fasting, ,
Plus Supernatural Financial Intelligence (Generated from Financial Education)
Plus Trust
Plus Courage
Plus Compassion (Compound Passion)
Plus VIOLENT FAITH
quote]

Someone who get's it!!! Very, Very Good
Re: Why Are We Not Making Money Like Dangote? by adconline(m): 6:17am On Jun 02, 2011
And so fork what! What have the kids of Abacha, Babangida added to the economy of nigeria. Dangote toiled his way to the top and mind you, it took him 30years of hard work to emerge on forbes list of billionaires. The problem with nigerians is that they want to get rich quick. Like dagrin

Dangot was given 500,000 in 1977 by his late uncle who was then treasurer of NEPU- Northern Elements Progressive Union. By that time, a brand new Mercedes was selling for N5000.So imagine if you would be given 1 Billion Naira today to start your own business
Re: Why Are We Not Making Money Like Dangote? by Nobody: 6:52am On Jun 02, 2011
I marvel at the envy displayed on this thread embarassed Some people even called Dangote an eediot. If the richest black man on earth is an eediot, what does that say of the Black race
Re: Why Are We Not Making Money Like Dangote? by Nobody: 7:04am On Jun 02, 2011
People say he made money through government, how come he gets richer irrespective of the government in power? How come he has outlasted every government in Nigeria since the late seventies? How come his wealth increases geometrically year on year?

What is Dangote doing that 150 million other Nigerians are not doing? How come the Dantatas from which Dangote got loaned his seed capital are no where near the kind of wealth Dangote has? Which other kid born with a "silver spoon" has achieved what Dangote has achieved?

if he is into "illegal" business, how come his "illegal" businesses are listed on the Nigerian Stock Exchange? How come his "illegal" businesses are the highest employer of labour in Nigeria after the Federal Government? How come his "illegal" businesses are expanding outside the shores of Nigeria to all over Africa?

Haba!!
Re: Why Are We Not Making Money Like Dangote? by randyorton: 1:38pm On Jun 02, 2011
kalokalo:

People say he made money through government, how come he gets richer irrespective of the government in power? How come he has outlasted every government in Nigeria since the late seventies? How come his wealth increases geometrically year on year?

DANGOTE IS  A SHARP GUY.HE IS LOYAL TO EVERY GOVERNMENT. HE NEVER SUPPORTS A CANDIDATE UNTIL A WINNER EMERGES. HE IS SMART AND LUCKY TO HAVE HAD AN ENABLING ENVIRONMENT TO SUCCEED. I ASKED MY COLLEAGUES WHAT THEY WOULD DO WITH 3M,THEY WERE TELLING ME D CARS THEY WOULD BUY . NONE OF THEM MENTIONED HOW THEY CAN MULTIPLY THAT AMOUNT. SO TELL ME HOW SUCH PEOPLE CAN BE AS RICH AS DANGOTE?

NIGERIANS ARE GOOD AT SPENDING MONEY NOT MAKING MONEY.

GET RICH OR DIE TRYING
Re: Why Are We Not Making Money Like Dangote? by sleekymag(m): 3:34pm On Jun 02, 2011
Dangote is simply a smart man, one with an obsession to dominate the world, and his wealth building strategies are d bomb, everyday products we need, something we all cannot do without; food, cement, real estate, sugar, salt, oil and gas. On top of that his insider love with the stock exchange, last i remembered, he was the president of the NSE or something like that. His wealth surged 557% in the last one year, making him the world's biggest earner for 2010, and as such became the 51st richest in the world, and richest african. Now he has plans to list on the London stock exchange, plans to expand across africa, and you can imagine how much more his wealth will increase in the coming years. Fact he used the government to help his cause, now he's concentrating on africa and the rest of the world. bottomline, he's a man with a vision, he's not where he wants to be yet, so cannot stop. You can't go farhter than your vision. so to answer the OP's question, most people are not making money like dangote now because they do not think like him.
Re: Why Are We Not Making Money Like Dangote? by Fredcharles(m): 12:50pm On Jun 03, 2011
Why people can't be like dangote is much but let me list just little you see ist of all dangote is a pry 3 drop out but still yet if stand ist in africa why because if knows the law of finance but ist of all what is finance?finance mean money now what is the law of money you see people don't know it and that is why they are poor for example you have been giving a maths to solve and you don't know the law and formula to solve it my friends how will you solve it.now the law of finance is stated in two laws the ist law is{LAW OF POVERTY}and the second is{LAW OF WEALTH}now the ist law state that if you want to be poor just work alonewhy the second law state if you want to be wealthy work with people.ok see been an employee you are working alone but the boss is not working alone he is working with people under the law of wealth now you see the cause why so many people are poor and can never be like the boss or dangote now let go to dangote you see he is working with people his workers and also he has his product that we all are buying now which product did we have that people are buying and which people did we have working with us.you see that is why so many people in nigeria are poor.now the number of the workers working for dangote are much now see how he is making his money for example one of his workers his effort to dangote is #5000000 how much did you think that dangote the boss will give to him as his salary.ok let me tell you every company i mean every company pays 10% of your effort to them now how much is 10% out of #500,000 it's 50,000.now does this make meaning you give your boss #500,000 and he give you back in return #50,000 WHO GAIN,WHO LOST.ok now times the remaining #450,000 with the number of workers he has working for him how much his he making every month and how much is the workers making every month you see the cause and his workers are the one doing the work not him but he is the one receiving the lion share of the money.so this is how dangote is making his money.but not only him they are so many like that who knows the law of wealth.ok listen to this one your sim card the owner of it is working with you but we don't know he sold his sim card to us because he want to make money from us now how card are we buying every day.ok how many people in nigeria are using MTN sim card and how many people are loading #100 every day but remember some are there that are loading #20,000 every single day now how much are the owners of this sim making every day.you see that is why we cant be like them.but we can still be like them if we only believe how? CALL ME AND I WILL TELL YOU ON {08167097019} BYE.MR FRED CHARLES

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