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.
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