I have been DEVOURING Dangote’s INTERVIEWS for the past 2 days.
Everything!
I have burned through 3GB worth of data while at it.
And right now all I can say is – ‘’WOW!’’.
That man is an ABSOLUTE beast.
Damn!
Here is what I found out about how he thinks.
First, he finds an UNTAPPED portion of the economy.
Then he goes in with ONE GOAL: To be Number one. He starts with Nigeria and
makes room for expansion to other African countries.
And he usually goes for the hardest part of the pile; that is how he DOMINATES.
He takes the part that everyone doesn’t want. He pioneers it, and by the time
he is done – you can’t beat him because he has DOMINANCE as a result of being
the first.
This might sound a little too obvious, and as I write this I am struggling to
really explain this but let me try doing it with this illustration.
Take the oil industry for instance.
He bought two oil blocs from shell.
The easy thing in that industry is to just mine the oil and sell it. That is
what everyone is doing. If he goes that route he’d still make a lot of money.
But he doesn’t go for money. He goes for absolute DOMINANCE!
This is why he went for REFINERIES. 2.8 Billion dollars’ worth of project. He
wants to be the FIRST guy to refine oil here.
20 years from now, he would be at the top and because he is at the top anyone
who enters will be swallowed.
When an interviewer asked him about it; ‘’they say you are heavily
monopolistic. Is this true?’’
And his answer was simple. ‘’The government wanted people to invest in making
cement here in Nigeria; we went in and started producing cement large amount of
cement. Others were busy importing’’.
The easy thing is to import. He doesn’t go for easy. He goes for Kingship.
Complete dominance.
Alone he has taken Nigeria to a self-sufficient level in cement production where it is EASIER to buy from him than to import. And like that, he wipes off the competition.
He leverages government policies A LOT. Policies open for anyone to leverage.
His game plan is WHATEVER industry he enters, to produce such CRAZY amount of
WHATEVER he is producing such that the importation of that item is COMPLETELY
wiped off and you ONLY have to buy from him.
Which is a simple obvious plan. Simple, yet genius in its simplicity.
Nigeria is an ‘’import intensive’’ nation. Right?
So what he does is to pick one thing we import, produce a large amount of it.
And when he eliminates the need to import that thing, he becomes the sole
seller.
And he has an abundance mentality too. ‘’Why will I be monopolistic, the
opportunities here are not even enough for only me to take up’’.
Go on YouTube. Start watching all of Dangote’s interviews . Thank me later
Nnamani Czar A. Nonso – Contributor
Czar is a professional sales copy-writer, and a successful one at that matter. He finds great joy in writing, doing businesses and helping companies both locally and international to market and sell their brands online. He’s also a professional business consultant and coach.