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Entrepreneurship: See the Top 10 Rules that Have Worked for Aliko Dangote

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Aliko Dangote, President and CEO of Nigeria's Dangote Group speaks during the final session of the World Economic Forum

#5:. Be focused and dedicated

“The problem with some of our younger generation today, they just want to jump and see themselves up there overnight. It doesn’t really happen,” cautions Dangote adding that as a person engaging in a venture, one needs to be focused and dedicated to pursuing their goals without ceasing.

He adds that a businessperson needs to take a job or a business as a hobby as this will push them to do it better.

Today, Dangote Group specializes in the sugar market with the refinery business being the main supplier- about 70% of the market- to the country’s soft drinks companies, confectioners, and breweries.

#6:. Think ahead

The business world is dynamic and one has to be up to date with the latest information and technologies to drive the venture.

What was good yesterday, might not be so today. Ideas should be changed to fit the dynamism in the market.

He calls on entrepreneurs to diversify their businesses in order to meet the demands of the modern customer.

Dangote is quick to point that even with diversification, one needs to be cautious so that they do not over-expand which then becomes a crisis rather than an opportunity.


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