A lot of Nigerians admire Aliko Dangote because he is very wealthy. Aliko Dangote is adjudged to be the richest black man alive for a period of over 5 years. So, there is always this disturbing question in people’s minds: what can I do to become Dangote or rich as Dangote. In this post, we’ll be guiding you on what you can do to become Aliko Dangote, or become as rich as Dangote, or how to be like Dangote.
First, you have to note that to become like Aliko Dangote, you should have the needed fundings to start up something first. Dangote didn’t just start from the scratch; he had a wealthy background. This is what we’ll be examining in this post, and other things that made Dangote wealthy.
What you can do to become Aliko Dangote, or become as rich as Aliko Dangote, or become like Dangote
1. Come from a Wealthy Family
Of course, Dangote is from a wealthy family or has a wealthy background, this was his first solid ground that he used to launch himself. Dantata, Dangote’s maternal grandfather was the wealthiest man in Nigeria at some point, and money has remained in the family ever since.
You should have a financially buoyant background, who can source funds for you, and who won’t bill you unnecessarily, then you are good to go.
2. Have a Rich Benefactor (Uncle or Anyone)
Dangote’s uncle and family were his benefactors. They assisted him with the necessary fundings, pieces of advice, and guides. Getting a mentor or guide who can do all of these for you, family or not, is a good step in the right direction.
3. Secure Funding of over 50 million naira to Start your Business
You can only beat the richest black man alive or become like him when you start a profitable business in a large way. For this, you need around or over 50 million naira. However, you can also start with as little as 2 million naira business. Who knows? You can build a very successful business over a period of years.
4. Your First Business should be Trading – Buying and Selling
Dangote’s first business was buying and selling sugar and other fast-moving edibles. If you can find a fast-moving article that you can buy and sell fast, it is a very good one. You can start with around 5 million, and build your wealth from there.
You should consider the options of foodstuffs, biscuits, grains, sugar, gas, fuel, electronics, and so on. The easiest and fastest way to make money in buying and selling in Nigeria is buying in large number and selling cheaper than your competitors.
5. Next, move into Importation and Exportation
Once you have made a great amount of money from trading, buying, and selling, the next move is to get into importation and exportation. Importation and exportation is another avenue to increase your money, and solidify the stand of your business.
6. Move into Manufacturing
After venturing into importation and exportation, you diversify and move into manufacturing. By now, you should have made a substantial amount to start up a manufacturing company. Get into a sector that’s not competitive just like Dangote went into Cement. Perhaps, you can enter a new sector (blue ocean), and create a monopoly there till other companies come on board.
7. Be a Strategic Business Man in Terms of Politics and Brand Marketing
While trading and developing your business, your strategy should be about capturing the interest of most Nigerians – poor or rich, instead of just a select few. You should also be strategic in your networking, marketing, brand showcase, and politics.
In terms of politics, be always close to any politician that’s in power. You need to attend their events without being political. You should be friends to all politicians.
8. Focus on Selling to the Poor
You need to make your products very affordable to the poor. Well, Nigeria is still mostly a poor country, so you’ll need to let your products reach a high number of people. You can only achieve this by concentrating on selling to the poor. It’s better to sell your products to millions of poor people than just hundreds of thousands of rich people.
10. Diversify your Business and Want to be in every Profitable Business
As you grow bigger and bigger, you can use your extra or excess funds to go into other profitable businesses to try them out. Dangote has literally gone most sectors of the economy and business like banking, food, agriculture, and so on. He has failed in a lot of them than he has succeeded.
We advise though that you should stick to the business you know.
Conclusion
This post has carefully examined what you can do to become Aliko Dangote, or become as rich as Aliko Dangote, or become like Dangote. You must have read the post by now, and understood perfectly how to be like Dangote. It’s a good guide.