Aliko Dangote is the richest man in Africa and incontrovertibly has become a world acclaimed business brand name; whose traits and qualities are worthy of emulation for business success anywhere in the world.
8 entrepreneurial traits of Aliko Dangote – The Richest Man In Africa
Aliko Dangote, as an entrepreneur has a strong feeling of success in whatever he does. He loves what he does and he is very good in doing them; and by so doing, he becomes inquisitive to learn more about that particular business that adds value to people and society at every point in time.
The ability to have a bigger picture in mind or see a bigger future is another entrepreneurial trait which Aliko Dangote exhibits for his business successes. He ensures that his businesses create value or meet a need in the economy. A visionary entrepreneur like Dangote saw beyond the five years future of his business; and then set a realistic target on how it can be achieved and sustained.
An astute entrepreneur like Aliko Dangote, is a great creative thinker that brings up unique and outstanding ideas to solve a problem or perhaps takes hold of opportunity when other are busy worrying about the future and unforeseen. He practically thinks about how to solve the future challenges to meet the numerous demands of the market.
Another underlying entrepreneurial quality which Aliko Dangote exhibited in his business is to take risk at all time in going to where no one has been before and doing things differently that adds value and sustains credibility. He practically goes in where others dread and would have captured a first movers advantage by the time others realize what is going on.
Dangote is very competitive and is not afraid of competition. He takes competition head on by focusing on value creation which enables him stay ahead. His businesses are centered around commodities which is very competitive; but he is always finding better ways, like logistics, distribution, product development and brand building; to enable him tackle his competitors.
This is yet another trait that Aliko Dangote portrayed in his endearing businesses and he was able to make successes of them all. He practically understood his employees and customers, adapted in a competitive environment; and shared his ideas with his executives. Dangote tolerated others and had a clear goal of achieving an objective with his team.
Aliko Dangote has great confidence in himself towards starting a business, growing it and making it a huge success which is a good characteristic of an entrepreneur. Besides, even when people doubt his position, his confidence leads the way and breaks barriers; which enables his terrific accomplishments and business breakthroughs.
Fundamentally, Aliko Dangote understands how to manage money. He is always seeking out productive ventures to deploy funds; and understands the principles of capital, revenues, profits, cost and other accounting and financial terms. Take for instance, his interest in buying Arsenal football club has been deferred; until he has finished his refinery which will unlock enough free cash flow for him to achieve that.