The 5 Powerful Investing Tips That Made Nigeria’s Aliko Dangote A Billionaire

Small business ideas, business plans, & tips for African entrepreneurs to start, run, & grow successful businesses. 5 Investing Tips That Made Aliko Dangote A Billionaire | Image Source: www.36ng.com.ng People dream of a life of ultimate success; great wealth & true happiness. But only a few attain it. While many may argue that true success doesn’t entail you becoming a millionaire or a billionaire, in private, they wish they could have a taste of that life, even for just a day. One of the world’s few billionaires who experience’s life at it’s helm of true financial success, is Nigeria’s Aliko Dangote; the richest black man in the world. How did he achieve this feat? What did he do right or wrong? What investing tips did he use? And how can it all be replicated? Dangote may have started his business career at the age of 21, in 1977, with a sum of 500,000 Naira (which could buy 100 brand new Mercedes Benz at that time), but the reason for his success was far beyond is startup capital, but rather, his smart investment decisions. You too, can learn from them. See Also: How This African Built A Multi-Million Dollar Business From Solar Energy Here are 5 Powerful Investing Tips That Helped Make Nigeria’s Aliko Dangote The Richest Black Man In The World: 1). Only Invest In What You Completely Understand: In an interview with MTV Base in 2012, Aliko Dangote expressly stated that he does not venture into any business he does not completely understand, and this keeps both him, and his company focused. Curiosity they say, killed the cat. But why did the cat actually die? This statement has ambiguous meanings. But the most obvious, is the fact that the cat sometimes doesn’t make it back alive because, it tried to explore what it couldn’t and didn’t understand. Curiosity isn’t entirely a bad thing. In fact, the greatest discoveries on earth were made by some of the most inquisitive people in history. But it must be threaded with caution. One sure thing smart caution has proven, is the fact that it has created billionaires in Africa. Investing in something you don’t understand because that’s what everyone is talking about, or going into, could be the fastest way to end your finances. When they say successful entrepreneurs take risks, they weren’t talking about stupid risks. Such only puts your finances on the edge. It’s important that a thorough feasibility study about the proposed business idea is done, and that you’re darn sure the business will solve a real problem. Perhaps then, you could someday be like, or even far better than Aliko Dangote. 2). Diversify Your Investments: With a wide portfolio ranging from cement to sugar, textiles, real estate, steel, telecommunications, poly products, port operations, and even now, an eight billion Dollars oil refinery in the works, Aliko Dangote has covertly built an almost fail-proof diversified conglomerate, which employs over 26,000 people. Multiple sources of income, is a major requirement to becoming a successful entrepreneur. And Dangote’s decisions so far, have shown that he has a knack for venturing into different highly profitable businesses. The crash in the global price of crude oil has had little impact on his cement & sugar businesses directly. Although the prices of the products are now lower, his cement and sugar sales have only also just risen, with higher sales projections estimated. One thing the richest black man in the world’s journey has taught, is that in times of economic recession and unforeseen challenges, one or some of your major investments, will cover up for others, till the wave is gone. No wonder he’s now stipulated to be wealthier than Oprah Winfrey, Donald Trump, & Roman Abramovich combined. See Also: The Comprehensive Guide To Real Estate Investment 3). Start Producing: Aliko Dangote, after importing and trading in commodities for many years, one day came to the conclusion that if he were ever to reach his true dreams, he’d have to stop being an importer, and focus a lot more on becoming a producer. This prompted him to setup eleven factories at a go, to kick-start his manufacturing career. Though expensive, manufacturing is one great way to really control your pricing, and bring products down to the consumer level at really affordable rates. If you hope to someday beat all the competition, and claim a huge chunk of whatever market you’re playing in, you’d have to change your gear, and switch to manufacturing. This investing tip, is one of the key secrets of the world’s billionaires. 4). Sell A Brand, Not Just A Product: Do you know Amancio Ortega Gaona, the billionaire founder of Zara? You can never be like him or better, if you don’t build a brand around your products and services. The same applies to Aliko Dangote. The Dangote brand is one of the most valuable brands in Africa. In Nigeria especially, almost anything branded as “Dangote” almost always wins the market’s trust. As you grow your business, make sure people can identify it through it’s brand image. This investing tip will leave a footprint on your customer’s minds about the experience they had with your products or services. See Also: 7 Top Skills Of Self-Made Millionaires You Must Be Using 5). Become A Great Networker: The way you arrive is who you are, and your network is your net worth. If you’re going to someday reach the heights Aliko Dangote has attained, you’d have to surround yourself with only people that can take you there. How do you get these folks to respect you? You have to invest both in yourself, and your business. You need to master emotional intelligence, have a strong understanding of human behaviour, and be able to nearly accurately sum up a person from the on-set. The book, “The Art Of Speed Reading People” by Paul D. Tieger & Barbara Baron-Tieger, is a good place to start. It gives the reader an in-depth understanding of the 16 personality types, and how to accurately calculate and estimate which temperament group a person belongs too. The predictive accuracy taught in this epic piece, is insanely correct! This book, is a must read for any true networker. These 5 investing tips have made Aliko Dangote, not just a billionaire, but the richest black man in the world. The application of these principles in your business journey, will ensure you’re on the right track to building a million Dollar, or probably a billion Dollar business. Quick Tip! You can make money from blogging by setting up a blog on WordPress or Blogger. Starting for as low as only $3.95 per month, anyone can follow this link to create a WordPress blog in minutes for a really cheap rate (this low price is only through my link). In addition to the low pricing, you will receive a free website domain (a $15 value), a free site builder, and a 30-days money-back guarantee through my Bluehost link if you purchase, at least, 12 months of blog hosting. What are your thoughts on these 5 powerful investing tips of Alhaji Aliko Dangote? Please let me know by leaving a comment in the box below.

Police arrest kidnappers of Indian, bizmen in Benue

The Police at Force headquarters said, yesterday, that they have arrested four crime kingpins terrorising Benue State and environs. A statement noted that the Inspector General, Ibrahim Idris, deployed the Intelligent Response Team, IRT, to Benue State to tackle and resolve cases of kidnapping, using citizens supports and deployment of technical platforms. It said: “The IRT trailed and arrested the following suspects: Terna Lorlu, a.k.a. Rocker, Gang leader; Ternenger Terwase a.k.a. Bishop; Terungwa Abasuwa, a.k.a. Bobby, and Oryina Bosua a.k.a. Man U.” Signed by Force Public Relations Officer, DCP Donald Awunah, the statement said: “During interrogation, they confessed to be behind several kidnappings and armed robbery attacks, including the kidnap of an Indian expatriate, the kidnap of one Mr. Charles, a businessman at Adikpo. “They also confessed to kidnapping Chief Tsegba in Gboko and collecting N5,000,000 ransom for his release; kidnapping of several lecturers and businessmen in the College of Education, Katsina-Ala and other neighbouring towns.”

Biafra cannot be renounced – MASSOB

The leadership of the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, yesterday, stated that Biafra is not negotiable and cannot be renounced as it is pivotal to the existence and future of the Igbo people. This came as the group condemned the inclusion of Comrade Uchenna Madu as one of the trusted persons to negotiate for Biafra on behalf of Re-IPOB with Federal Government. In a statement issued by MASSOB in Abakaliki, National Director of Information of the group, Comrade Samuel Edeson warned the Re-IPOB to stop its unguided exhibitions in the name of Biafra, threatening that it would bring them (Re-IPOB) more harm than good in the course of the struggle. According to him, MASSOB can never allow her image, leadership or name to be dragged into a dirty mud of cheap propaganda and mesmerization after over 17 years of Biafra struggle. The statement read in part: “Though MASSOB acknowledged the regards and respect given to Comrade Uchenna Madu as a credible Igbo leader by Re-IPOB, we insist that Biafra is not negotiable and cannot be renounced. It’s not a personal or religious belief, faith or human establishment. Biafra is the very existence and future of our people. “MASSOB’s reaction is against the online news that included the name of Comrade Uchenna Madu (leader of MASSOB) as a member of trusted Igbo leaders to negotiate with FG on Biafra. “What is Re-IPOB negotiating, a group that comes up today and wants to negotiate Biafra immediately? Who is fooling who? What has Re-IPOB done for Biafra and for what reasons would FG negotiate with it? Biafra struggle is not a business venture and it is not negotiable.” “MASSOB reaction is not because of external or internal pressure but for our dignity, pride, integrity, trust and confidence the people of Biafra bestowed on MASSOB. “We also warn those delighted in creating confusion among Pro Biafra groups with falsehood and blackmailing to desist from it now or face the consequences and punishments of saboteurs. A stitch in time saves nine”.

Yahoo boys steal women pants for Ritual

So the hustle has even gotten more real in this “change” Era and everyone is really stepping up their games. This yahoo boys were caught with Female panties and under wears for their yahoo hustle. These are the guys that would do all this stuff and Our ladies would Chase after them, not minding their source of income or what they had done to get there. A group of internet fraudsters a.k.a Ghana Burgers were apprehended by policemen at Koko Junction, Warri, Delta State..According to the evidences found on them and their confessions, they went to Oyo State for rituals. Read below what was shared by Ossai Ovie Success Mobile police apprehend some group of Ghana Burgers at Koko Junction. According to the visuals and photo of evidence we find out that these guys according to their confession went to Oyo State for rituals. They used two Ecolax buses and boarded the vehicle from Benin and asked the driver to move straight to Sapele.

One of the culprits said his name is Simeon and he stay at Uruhakpa and Otefe Poly student. According to their own confession after police interrogations, they said they went for rituals at Oyo State. The two Ecolax buses contain the following items. 1. Four used girl’s pants. 2. Old mat 3. Used girls wig 4. Used girls brassier And other concoction items.

I killed to avenge friend’s death, says Eiye

A Self-confessed leader of Eiye confraternity in Somolu and Pedro areas of Lagos State made startling revelations, yesterday, on how he butchered two members of Aye, a rival cult group, to avenge the death of a fellow cult member. The suspect, an ex-convict, who has been on the wanted list of Lagos State Police Command, over his alleged involvement in various crimes ranging from robbery and arson, was arrested weekend at Petit Street, Somolu by policemen attached to Alade Division. Parading the 35-year-old suspect, identified as Oriyomi Ibrahim, popularly known as J-Pron, alongside 25 other suspects that have been terrorising the state, the Commissioner of Police, Lagos State Police Command, Mr. Fatai Owoseni, described his arrest as a major one. Owoseni disclosed that the suspect and members of his group allegedly set a building at Ilepo area of Somolu ablaze, during a recent clash with rival cult group, in which a woman was burnt to death. The father of two admitted to being leader of Eiye, saying, “I am only responsible for the death of Femi Wipe and Akon, who were members of Aye. I stabbed both of them to death in separate fights, because they killed our members first.” … Police crack kidnap threat syndicate Also yesterday, Police paraded two sisters, who belong to a syndicate that specialized in sending kidnap threat messages to prominent Nigerians and demanding for money. The syndicate that sends out kidnap messages to prominent Nigerians usually targets medical doctors within Lagos and Oyo states. They send text messages to their victims, informing them that they have been paid to kidnap them. They would thereafter, demand for money which would be paid into a bank account in the eastern part of the country. Report gathered that over 20 medical doctors have been defrauded through that means. When approached, the elder among them gave her name as Ossai Emmanuella, while the younger is Rita Ojobo. She disclosed that N200,000 was paid into her sister’s account, while she only received an alert of N40,000, adding that her brother was the only one who had access to the account. According to her, “we are not fraudsters. My brother sells machine parts in Togo and he has an apprentice. “His apprentice called to say that he would like his customers who bought machine from him to pay into our account and that my brother would later withdraw the money and pay him.”

Police discover graves in a house of prophet who chained 28 persons

—The Lagos State Police Command, yesterday, uncovered shallow graves allegedly used by prophet Emmanuel Adeyemi to bury clients, who died during spiritual cleansing in his Oke-Ira, Ogba home. The 13 children and 15 adults The 13 children and 15 adults chain 1 Some of the victims Recall that Adeyemi was arrested, weekend, by policemen attached to Area ‘G’ Command, Ogba, following the discovery of 28 chained persons, among them 13 children and 15 adults. This is just as one of those chained was discovered to be a cancer patient, contrary to claims by the suspect that they were all mentally deranged. At press time yesterday, the cancer patient (names withheld) was still undergoing treatment at the hospital from sores sustained in her two legs where she was chained, while others were at the Lagos State rehabilitation centre. Commissioner of Police, Lagos State Police Command, Fatai Owoseni, who made the disclosure, said: “We had another tip-off that there were people he (suspect) buried in his compound and he confirmed it during interrogation. “Because the area is swampy, the suspect allegedly buried some people in the swamp and about three others in the house.” ‘I am a herbalist, not prophet’ However, during interrogation, the suspect maintained that he was a herbalist, saying there was no time he identified himself as a prophet. He said: “I am a herbalist and not a prophet. One of those chained is my step-son; I chained him and locked him inside the room because I wanted to cure him of stealing. Others are people I was treating of madness.” Asked what the shallow graves were for, he replied, “I bury patients who died in the process of receiving treatment. Some of them were brought very sick from the hospital for treatment. “At times, some would be healed while others won’t make it. They were buried with the consent of their relatives.” He further denied claims that he sold human parts to ritualists, saying “I swear, I don’t sell human parts. I am only a traditional healer.” However, Owoseni assured that the police would get to the root of the matter.

No criminal implications in naming dog after person

The incoming Second National Vice President of the Nigeria Bar Association, NBA, Mr. Monday Ubani, yesterday, said that no offence is committed by someone naming his dog after somebody else. He said: “In the eye of the law, it is not criminal for somebody to name his or her dog after another person. It may be offensive by examining the circumstances under which the incident happened. “I understand that a particular dog was named after a neighbour and both of them were not in good terms; in a Hausa community somewhere in the South-West. “So expediency would have prevailed on him not to name his dog after somebody he was quarrelling with. “The Bible says wisdom profited for direction. Anything you are doing must be with wisdom. If such a thing would provoke unnecessary argument, you should avoid it.” Another Lagos-based lawyer, Mr. Tunji Muyedeen, said: “As far as I am concerned, there is no way such offence could be sustained in law. Anybody can name his pet after anybody’s name. “He can even call the pet his name. However, spurious charge or charges may be preferred against such person. “All of us will be living witnesses to the trial of the man. We will see what evidence the prosecution has to prosecute the accused person.” For human rights activist, Mr. Okey Nwaguna, prosecution must show that accused had the intent to cause breach of public peace. He said: “The motive of an accused is never and can never be established by the charge: it must be established by evidence. “Prosecution must show that accused had the intent to cause a breach of public peace. What constitutes ‘public’ is key.”