Billionaire Tony Elumelu Gives Important Tips to Entrepreneurs Who Want to be Successful Like Him
- Serial entrepreneur Tony Elumelu has dropped some business tips for business owners going into partnerships
- He said the significance of partnerships cannot be understated when it comes to achieving business success
- He cautioned entrepreneurs who are long-term thinkers not to go into partnerships with people focused on short-term gains
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Chairman of Heirs Holdings, Tony Elumelu, has dropped some jewels for entrepreneurs and business people hoping to enter partnerships.
The stylish billionaire, known to often give business tips to intending and established business owners on his social media pages, gave some tips on forming successful partnerships.
Elumelu, the Chairman of United Bank of Africa, in an earlier Legit.ng report advised youths at a conference to embrace hard work, discipline and sacrifice to succeed.
Source: UGC
In his new post, he warned entrepreneurs and business people who are long-term thinkers not to partner with people focused on short-term gains.
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Elumelu said that from his perspective as an entrepreneur, the significance of partnerships cannot be understated when it comes to achieving business success.
Nevertheless, it is essential to acknowledge that forming partnerships presents significant challenges within this part of the world.
Given the complexities involved, a steadfast dedication from all parties is imperative to steer the partnership towards a prosperous outcome.
The philanthropist advised entrepreneurs to engage in partnerships exclusively with individuals who possess congruent business philosophies, ideals, and perspectives akin to their own.
He said:
There can be a lot of distractions in business, so ensure you go into partnerships with people who share the same business philosophy, ideals and views as you.
If like me, you are a long-term thinker, do not go into a partnership with people who focus on the short-term GAINS. There must be alignment and a common goal WITH YOUR partners.
Elumelu is not new to partnerships, as some of his biggest businesses, like UBA, Transcorp, and Heirs Holdings, have been built on that formula.
He has often told of how hard work, resilience and the desire to succeed pushed him to today's status.
He added:
Business is tough but through FOCUS, SACRIFICES, hardwork, discipline, and a bit of luck you will succeed on your journey!
Tony Elumelu’s Transcorp Power acquires 60% of Abuja DisCo
In related news, Legit.ng reported that a consortium led by Transcorp Power Limited has successfully acquired a 60% majority stake in the Abuja Electricity Distribution Company (AEDC).
This development follows the transition of AEDC's ownership to the United Bank of Africa (UBA) in December 2021 due to the inability of its primary stakeholder, Kann Consortium, to settle the $122 million debt owed to the bank.
In 2013, Kann Consortium procured AEDC through financial assistance from UBA, thereby obtaining a 60% controlling interest in the distribution company.
Subsequently, in May 2023, the Transcorp-led consortium garnered approval from the national council on privatisation as the preferred bidder for AEDC.
Source: Legit.ng
