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.

See this goat talking, all the names you mentioned how have they been of help to your life, like who cares or give a fück about someone not adding one naira to my name.
Not everyone is as jobless as u, besides the products are cheap is why i have never see or use them. Am not kidding.

Softenergy:
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

Hmmn....Adebowale Electrical Limited was another successful local industrial firm in the 80s and early 90s. Unfortunately, the fortunes of the company nose dived after the founder's demise. May God rest the soul of Chief Amzat Beyioku Adebowale.

IamCharles123:

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.

And you ve not seen doyin cube advert on tv too. You were probably too young to observe

femi4:
And you ve not seen doyin cube advert on tv too. You were probably too young to observe

Maybe

Softenergy:

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 seem to to by mystified in the missing details.

I wish I could like your comment a hundred times.. A lot of kids just come online to say rubbish and not to learn.
Things were not like this when the man started business. The business environment was good.
Naira was stronger than the pounds.. Several multi national companies were starting up and needed indigenous distributors to work with.
Banks would give loans if you had a genuine business they could finance, especially import business.

[s]

IamCharles123:

See this goat talking, all the names you mentioned how have they been of help to your life, like who cares or give a fück about someone not adding one naira to my name.
Not everyone is as jobless as u, besides the products are cheap is why i have never see or use them. Am not kidding.

[/s]

See this one.
The products are too cheap indeed.

I'll ignore the other rants in your post let me not add to your frustration.

I love your impact and courage together with your achievement

God made him from nobody to somebody,
So shall it be to others.

Softenergy:

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 seem to to by mystified in the missing details.

Greizman:
I wish I could like your comment a hundred times.. A lot of kids just come online to say rubbish and not to learn.
Things were not like this when the man started business. The business environment was good.
Naira was stronger than the pounds.. Several multi national companies were starting up and needed indigenous distributors to work with.
Banks would give loans if you had a genuine business they could finance, especially import business.

Very true! Yes.... the Nigerian currency was much stronger in the 70s and 80s. One naira was equivalent of 0.80 cents in the 70s. While the Nigerian Naira back then was as strong as the British pound.

People were far more honest, and sales on credit thrived, because of the integrity that many businesses exhibited in the old days.

Don't forget that many political figures also attracted foreign businesses into the country to set up shop, and became their local partners with a seat on the board.

The old Barclays Bank was also present in Nigeria, and had a good structured credit and loans dept, that gave loans to local entrepreneurs, once they had sufficient guarantee of product supply.

These days, local banks ask for an arm and a leg as collateral, and even include your great grandfather's head into the bargain, just because you need a loan.

People were more disciplined, honest and transparent in the past, so credit terms were less stringent.

Unlike now, that people can collect goods on credit, and would not pay back but start telling stories, or dodging the owner of the goods.....some even disappear into thin air!

VillagePipu:
[s][/s]

See this one.
The products are too cheap indeed.

I'll ignore the other rants in your post let me not add to your frustration.

Lol, what else can you do or say.

Next time you will think b4 you talk, ode.

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...

This makes the story look so incomplete

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/

chief samuel adedoyin, very upright man, was a pleasure working with him on his various projects. His intelligence are superb.

Nice one

Wow

nice success story.... check out this failure stories of top successful people https://explicitsuccess.com/failure-stories-of-successful-people/

Kalashnikov102:
nothing good comes easy..jus keep pushing and believing

Yes ooo

CeterisXVIII:


Very true! Yes.... the Nigerian currency was much stronger in the 70s and 80s. One naira was equivalent of 0.80 cents in the 70s. While the Nigerian Naira back then was as strong as the British pound.

People were far more honest, and sales on credit thrived, because of the integrity that many businesses exhibited in the old days.

Don't forget that many political figures also attracted foreign businesses into the country to set up shop, and became their local partners with a seat on the board.

The old Barclays Bank was also present in Nigeria, and had a good structured credit and loans dept, that gave loans to local entrepreneurs, once they had sufficient guarantee of product supply.

These days, local banks ask for an arm and a leg as collateral, and even include your great grandfather's head into the bargain, just because you need a loan.

People were more disciplined, honest and transparent in the past, so credit terms were less stringent.

Unlike now, that people can collect goods on credit, and would not pay back but start telling stories, or dodging the owner of the goods.....some even disappear into thin air!

exactly

everybody wan make am quick today.

The Doyin group here in kwara state ilorin known as Global soap and detergent has been liquidated to a point of zero elasticity.

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.

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.

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.

Tell me, how will such businesses then survive?

I see yiir point and they are valid ones

tho I don't agree 100 %
with the children part

Steviealohan:
The Doyin group here in kwara state ilorin known as Global soap and detergent has been liquidated to a point of zero elasticity.

what is your point?

My brother nobody holy for this.country that is why we always save money to go to holy land. We are wicked. I don't believe anybody

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.



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.

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.

Tell me, how will such businesses then survive?

Insightful analysis.

I think it's more on the lack of a proper succession plan and good corporate governance. It's not like there aren't enough qualified individuals to be at the helms of affairs but when you have persons who will not mind running the business down because "no be my papa property/business" or use the revenue to build theirs even while being paid, then the founders have no choice than to bequeath ownership to their children. I'm of the opinion that before ownership is handed over to the children, non-family members should manage the business for at least a decade. It's even better to employ foreigners as executives so as to forestall familiarity or tribal relationship.

Regarding children (foreign or local educated) not being interested in their parents' enterprises, well, they (children) have their dreams and aspirations to fulfill which might be in tandem with their family's business. The solution?

Recruit foreigners (other Africans included) as managers.

Gerrard59:
Insightful analysis.

I think it's more on the lack of a proper succession plan and good corporate governance. It's not like there aren't enough qualified individuals to be at the helms of affairs but when you have persons who will not mind running the business down because "no be my papa property/business" or use the revenue to build theirs even while being paid, then the founders have no choice than to bequeath ownership to their children. I'm of the opinion that before ownership is handed over to the children, non-family members should manage the business for at least a decade. It's even better to employ foreigners as executives so as to forestall familiarity or tribal relationship.

Regarding children (foreign or local educated) not being interested in their parents' enterprises, well, they (children) have their dreams and aspirations to fulfill which might be in tandem with their family's business. The solution?

Recruit foreigners (other Africans included) as managers.

I agree that qualified professionals should be employed to run the business, but with what I have seen in many locally owned firms, the business owners often interfere in the business to a very large extent, even when such businesses are being managed by others.

The best thing is to put the right structures in place, and give the most qualified professionals a free hand to run the company, while being answerable to the board and shareholders of the firm.

No one is saying that the children should forget their own aspirations to run the family businesses, but such kids can serve in an advisory capacity or recruit the best hands they can find to run their father's business after his demise, while they take on a non-executive board role.

I believe it is wrong for kids to just totally abandon the businesses their father's struggled hard to build, or just turn their back on it.

Who would then ensure that the father's business legacy is sustained?

Why are family legacies kept? Who does the keeping or sustaining of such legacies, if not the family?

In many parts of Asia and Western Europe, family businesses still thrive, long after their owners have departed. What are they doing right, that we have failed to see?

Wal-Mart is the world's largest retailer and most successful family business of all time. Rob Walton and John Walton took over their father's business and ran it successfully. The other children are not involved in the business, but retain their shareholding and voting rights, in the enterprise.

Lee Kun-Hee grew his father's business Samsung Group into a global conglomerate from the small industrial complex his father left behind. His family still owns most of the shares in Samsung Group till today and his children sit on the board, too.

Fritz Hofmann-La Roche founded Roche Pharmaceuticals many years back. Today, his family (the Hoffmann-Oeris) still owns a large stock of the company's shares, and his children are multimillionaires who have voting control at board level. The company is worth 254 billion USD dollars, today.

Roche founded a cough syrup company that today develops some of the best cancer drugs in the world. The Hoffmann-Oeri family controls the company through their voting pool. The family has at least eight billionaires, including Dr. Andreas Oeri and André Hoffmann who both sit on the drugmaker's Board of Directors. https://www.businessinsider.com/the-worlds-21-biggest-family-owned-businesses-2015-7?IR=T#3-walmart-19

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.

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.

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.

Tell me, how will such businesses then survive?

Lovely piece.

But I know one doyin investment along asa-dam road Ilorin. Almost all the workers there left due to lack of pay and it seems they're no longer producing like before.

Softenergy:
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

O boi, 1981 - 1983, you be Bros be dat o, I hail o Bros mi!!!!..lol.....nice transition, may God grant you success in your new endeavors.

Softenergy:

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 seem to to by mystified in the missing details.

Ok, i agree with you, but would it be a bad thing if that part was included in the story, mind you that's your own narrative o(your assumptions basically). I could as well come up with mine... something like ' adedoyin joined a group of bad guys on the lagos island after he gave up his life savings, sold some dope, made some money and delved into importation business. My point is this, success story no be by force if you're gonna leave readers guessing about what happened in the lost chronicles.

CeterisXVIII:

I agree that qualified professionals should be employed to run the business, but with what I have seen in many locally owned firms, the business owners often interfere in the business to a very large extent, even when such businesses are being managed by others.

The best thing is to put the right structures in place, and give the most qualified professionals a free hand to run the company, while being answerable to the board and shareholders of the firm.

No one is saying that the children should forget their own aspirations to run the family businesses, but such kids can serve in an advisory capacity or recruit the best hands they can find to run their father's business after his demise, while they take on a non-executive board role.

I believe it is wrong for kids to just totally abandon the businesses their father's struggled hard to build, or just turn their back on it.

Who would then ensure that the father's business legacy is sustained?

Why are family legacies kept? Who does the keeping or sustaining of such legacies, if not the family?

In many parts of Asia and Western Europe, family businesses still thrive, long after their owners have departed. What are they doing right, that we have failed to see?

Wal-Mart is the world's largest retailer and most successful family business of all time. Rob Walton and John Walton took over their father's business and ran it successfully. The other children are not involved in the business, but retain their shareholding and voting rights, in the enterprise.

Lee Kun-Hee grew his father's business Samsung Group into a global conglomerate from the small industrial complex his father left behind. His family still owns most of the shares in Samsung Group till today and his children sit on the board, too.

Fritz Hofmann-La Roche founded Roche Pharmaceuticals many years back. Today, his family (the Hoffmann-Oeris) still owns a large stock of the company's shares, and his children are multimillionaires who have voting control at board level. The company is worth 254 billion USD dollars, today.

I give it to you, you are very intelligent and vast. Nairaland should be proud of having people like you on the platform, well, if they are not or unaware, I am! Cheers.

Whoa!.
I'm just seeing this.

My dad worked there for 18years or more.


The days of PRIME MILK too.

Yoighaman:
I give it to you, you are very intelligent and vast. Nairaland should be proud of having people like you on the platform, well, if they are not or unaware, I am! Cheers.

Thank you for your kind words sir. I am appreciative of them.

Unfortunately, I hardly stay on Nairaland for long periods, I just drop by once in a while. I see a lot of shallow posts and e-fights, on most threads, and it really isn't my cup of tea.

Do have a great day, sir.

Yoighaman:


O boi, 1981 - 1983, you be Bros be dat o, I hail o Bros mi!!!!..lol.....nice transition, may God grant you success in your new endeavors.

The great and good Almighty God has been washing my hands with milk. I appreciate, may food never lack in your mouth

Bakbillz44:

Ok, i agree with you, but would it be a bad thing if that part was included in the story, mind you that's your own narrative o(your assumptions basically). I could as well come up with mine... something like ' adedoyin joined a group of bad guys on the lagos island after he gave up his life savings, sold some dope, made some money and delved into importation business. My point is this, success story no be by force if you're gonna leave readers guessing about what happened in the lost chronicles.

As a youth he may have engaged in some form of youthful delinquency. During his time drug is far from making anyone wealthy, but doggedness, trustworthiness,dependability and true and true honesty. Nigeria then like any other country are what countries should be.

CeterisXVIII:

I agree that qualified professionals should be employed to run the business, but with what I have seen in many locally owned firms, the business owners often interfere in the business to a very large extent, even when such businesses are being managed by others.

The best thing is to put the right structures in place, and give the most qualified professionals a free hand to run the company, while being answerable to the board and shareholders of the firm.

No one is saying that the children should forget their own aspirations to run the family businesses, but such kids can serve in an advisory capacity or recruit the best hands they can find to run their father's business after his demise, while they take on a non-executive board role.

I believe it is wrong for kids to just totally abandon the businesses their father's struggled hard to build, or just turn their back on it.

Who would then ensure that the father's business legacy is sustained?

Why are family legacies kept? Who does the keeping or sustaining of such legacies, if not the family?

In many parts of Asia and Western Europe, family businesses still thrive, long after their owners have departed. What are they doing right, that we have failed to see?

Wal-Mart is the world's largest retailer and most successful family business of all time. Rob Walton and John Walton took over their father's business and ran it successfully. The other children are not involved in the business, but retain their shareholding and voting rights, in the enterprise.

Lee Kun-Hee grew his father's business Samsung Group into a global conglomerate from the small industrial complex his father left behind. His family still owns most of the shares in Samsung Group till today and his children sit on the board, too.

Fritz Hofmann-La Roche founded Roche Pharmaceuticals many years back. Today, his family (the Hoffmann-Oeris) still owns a large stock of the company's shares, and his children are multimillionaires who have voting control at board level. The company is worth 254 billion USD dollars, today.

You did good justice to this. Nothing else to add. When I first read about "Hidden Champions", then I knew the power of family owned businesses. Regarding employing outsiders, it's trust issues that lead to such interference, although condemnable but can be tamed by the founder's children. With the exodus to Canada, it gets worse.