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Beyond the Billionaire Myth: Otedola Pulls Back the Curtain in Making It Big

Published 1 month ago4 minute read
Precious Eseaye
Precious Eseaye
Beyond the Billionaire Myth: Otedola Pulls Back the Curtain in Making It Big

Upon the initial announcement of Femi Otedola’smemoir, Making It Big,skepticism was the predominant sentiment, anticipating another conventional billionaire success story. However, an influx of highly respected reviews from media and business figures, particularly Chude Jideonwo’s honest reflection, prompted a reevaluation. What quickly became apparent was that Otedola’s memoir deviates significantly from a glossy, PR-perfect narrative. Instead, it offers a raw, real, and profoundly relatable account of reinvention, calculated risk-taking, and crucially, the often-untold mistakes and learning curves inherent in building a formidable brand.

Unlike many high-profile Nigerian entrepreneurs who prefer to maintain an air of mystery around their wealth accumulation, Otedola courageously pulls back the curtain. He reveals both the triumphs and the scars, delving into collapses and rebirths, the weight of expectations, and the vital necessity of self-reinvention. This unprecedented honesty illuminates the messy process behind success, offering a much-needed counter-narrative to the romanticized versions of entrepreneurship often presented. It underscores the importance of documenting homegrown success stories that embrace not just wealth, but also the pain, lessons, and personal growth that underpin it.

Kehinde Ajose: My Thoughts After Reading Femi Otedola's Making It Big |  BellaNaija

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A central tenet explored in Making It Big is financial discipline. Otedola articulates his natural inclination towards property portfolio building, viewing it not as a luxury but as a fundamental tool for financial security and legacy. He imparts the timeless wisdom of diversification, advocating against concentrating all assets in a single bank or sector. He meticulously explains his thought process behind risk assessment, sector choices, and the critical role of timing in monumental financial decisions, such as borrowing dollars at ₦117 to $1 and repaying at ₦165 to $1 – a move with potentially drastic outcomes.

Otedola’s unique edge is further defined by his commitment to strategic reinvention and his adept use of visibility. His philosophy, “Evolution teaches us that you can adapt or die,” is exemplified by his pivot from oil to energy and his unconventional support for his children’s ventures in entertainment. While many billionaires guard their narratives, Otedola strategically leverages media not merely to control his story, but to openly reflect on missteps and amplify his legacy. This remarkable flexibility and candor extend beyond mere business.

The memoir offers practical, grounded advice tailored for various career stages. For young professionals in their twenties and thirties, Otedola champions knowledge over ostentatious status symbols, famously noting his decision to stop wearing watches because his mobile phone served the purpose better. His message is clear: prioritize substance and foundational knowledge. Mid-career entrepreneurs (aged 35-50) will find insights on resilience, the wisdom of pivoting when an industry falters, the value of investing in inflation-hedging assets like real estate and energy, and the crucial need to detach sentimentality from business decisions, emphasizing that “Everything has a price if you are willing to pay.”

Parents and mentors can glean wisdom from Otedola’s reflections on family. He openly supported his children in pursuing their passions, irrespective of conventional expectations, declaring, “I was not embarrassed when they chose entertainment; I was elated.” He underscores the paramount importance of emotional and marital stability, describing marriage as “the centre beam that stabilises both partners,” highlighting that true success encompasses a robust foundation of life support.

While comprehensive, the memoir does exhibit certain gaps. A desire for deeper dives into specific landmark deals, such as the Geregu acquisition, or the emotional toll of significant business losses, along with insights into navigating government relationships, is expressed. However, this measured restraint might be a deliberate choice to share what educates and inspires without unnecessarily reopening old wounds. Beyond financial and business acumen, Otedola also addresses the human element of success.

You Can Now Order Femi Otedola's Making It Big!

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He advocates for health consciousness, particularly as one ages, reminding readers that “Your body is your most important capital.” Furthermore, he offers profound advice on human relations within the often-competitive Nigerian business landscape: “Forgive those who hurt you… People who are jealous of you will badmouth and attempt to destroy you. It is a mistake to live your life focused on these negatives,” presenting forgiveness as a form of liberation.

Ultimately, Making It Big,transcends the typical entrepreneur's guide. It serves as a powerful “how-I-did-it” story for anyone striving to build something meaningful, grasp financial intricacies, reinvent themselves, or forge a legacy without compromising their integrity. Otedola’s willingness to teach, document, and inspire through his candid experiences issues a clear call to action for other Nigerian builders to share their own complex, unfiltered narratives.

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