African School of Business and Leadership - ASBL

Why It Is Better To Allow Your Business To Fail Instead of You Failing…

There are two types of Failures in Entrepreneurship:

Personal Failure
And
Enterprise Failure

Personal Failure usually involves a founder getting involved in unethical or illegal activities sometimes to keep the business from failing.

Enterprise failure is when the business fails despite honest efforts from the team .

Personal failures are more difficult to recover from than enterprise failures.

Here are Dangote’s 10 Failed Businesses:

10 Startup Ideas of Aliko Dangote that Failed

Let’s take a look at ten of these ventures that didn’t quite go as planned, and see what we can learn from the bumps in the road—because if Dangote can stumble, my friend, who are we not to?

1. Dangote Airlines: A Flight that Never Left the Runway

2. Dangote Pasta: When Nigerians Stuck to Rice

3. Dangote Sugar’s Sweet but Sour Experience

4. Dangote Cement in South Africa: A Lesson in Knowing When to ‘Go slow’

5. Dangote Oil Refinery: Delays That Made Us Say ‘Ah-ah, Is This A Refinery or A Tortoise Race?’

6. Dangote Telco: When Even a Billionaire Can’t Get Network

7. Dangote Tourism: When There’s No Light, Where Are You Going to Tour?

8. Dangote Textiles: When Cheaper Goods Keep Beating Your Ankara

9. Dangote Logistics: The Only Thing Moving Fast Was the Cost

10. Dangote Agribusiness: When Nature Refuses to Cooperate

To read more about Dangote’s failed ventures, check comment section.

Personally, some of my failed businesses include Awuzie Music Studios, InspiredFM Radio Station and TOS Boutique.
The lessons I learnt from running a music studio, a radio station and a boutique helped me in building a successful Technology Company. The reason why the Music Studio failed is because I knew nothing about music so I built the business around an employee. When he left, the business collapsed. The same applied to the radio station and the boutique. So I learnt how to focus on industries where I’m an.........

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*Leadership 101 by Chris Ogar for Wednesday 22nd May 2024.*

It's a known truth that life is in phases and men in sizes, but I want you to know also that each phase of life has a lifespan. Therefore, progress can be defined as follows;

1. The ability to completely utilize all that God has invested into each phase of your life within the lifespan of that phase.
2. The ability to transit from one phase to another within the lifespan of each phase.

However, do not forget as long as you live that your size per time depends on how well you have utilized the opportunities in each phase. This is why we must trust God for grace to take full responsibility for all that is needed in each phase.

Be reminded also that for every next phase there's a next step. Therefore, lay hold on faith because it is a very potent navigational tool that enhances phase transitions.

Do have a blessed day and remember to contact me on+2348064356654 if you need the following services:
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Chris Ogar is a certified Leadership and Business Development Strategist from both Gemstone Leadership Network and African Leadership Development Center, Covenant university. He is also a mentee of Sir Fela Durotoye.

*Leadership 101 for Tuesday 21st May 2024:*

Basically, Leadership is influence. Your ability to influence others to willingly commit their life, time, energy, resources, skills, etc towards achieving a worthy task is Leadership.

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*The question therefore is what is your assignment?*

It is the leader's responsibility to clearly define the assignment or task, and we call that vision.

Chris Ogar is a
- Leadership/ Business Development Strategist
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Feel free to call me on +2348064356654 for further engagements on these subjects.

Thank you!!!

Leadership begins at leading yourself!!!

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