Dangote is valued at 16 billion dollars give or take a few estimates by Forbes making him the richest man in Africa. Like any Billionaire he has a way that he thinks that makes him a billionaire. We all aspire to have some form of success in one way or the other. It is this curiosity we start to think what would we do differently if we could think like Dangote.
1. Cement Mind
To get it out of the way, Dangote has made a fortune from the cement business, hence your mind will dwell on what cements your wealth. In other words, a billionaire mind focuses on what is real, solid and tangible to their mind. If you want to rise in your wealth then you need to focus on a business that is real to you and that you are confident in. If you had Dangote’s mind for a day you would cement your mind in what is critical to make wealth.
2. Foot print
If you had Dangote’s mind you would think footprint. Dangote’s wealth is spread not just in Nigeria but in different countries in Africa. You cannot make a billionaire dollars and sustain it by concentrating on one local town. There is no billionaire who makes money from one state or one province, money is made from an international perspective. The value of a billionaire is the size of the market that they can reach. You have to think foot print and think what are the ways to get to more markets. If you had Dangote’s mind for a day you would think footprint.
3. Think more than one
A billion dollars exists not just in one product line but in more than one product. Diversification is inevitable for anyone who wants to be big. A tree starts with its roots but as it grows it grows into many branches, this is what it means to be a billionaire. Most people think one thing and stop there. To make money you need to have a root of focus but you also need to grow that tree into different branches of money. This is why when a business starts it starts with one centre of operations but as time goes it grows organically to many business branches. If you had Dangote’s mind for a day you would think more than one thing.
4. You would think investment
Until you plant a seed no harvest is rightly yours. You need to plant in order to reap. Investment is the natural sacrifice of one resource to attain a multiple of others. Investment makes no sense if there is no multiplication. When starting a business you must think beyond just receiving, you must give in order to expand. Investment means you give more at the beginning. Dangote’s billions are simply a multiplication of an investment that was made.
5. Relationships are an asset
Whether legal or illegal relationships are also a business asset. When we look at a balance sheet, we normally value the fixed assets, the current assets but we neglect the relationships we have with regulators, suppliers, employees and other stakeholders. Relationships are assets for any business and should be nurtured in order to be useful. As Dangote travels he spends more time in creating new relationships and cementing old ones. Over time the right relationships will save your business from different situations which require more understanding than just normal process and procedures. When starting a business make sure you develop real relationships over time that are dependable and not just business connection.