Chairman of United Bank for Africa, UBA, Tony Elumelu addressed the graduating class of the International Finance Corporation, IFC, in Los Angeles recently and came up with the tips for lasting success.
According to him, the path to success are hinged on; Hardwork, discipline, focus, resilience and making sacrifices.
Read on:
“The story of my journey is today’s denial for a better tomorrow. Getting to the top is not as difficult as staying at the top. Not a lot of people get there and stay there, because of wrong prioritisation of values.
“You should be able to forgo consumption today for a better tomorrow. This is what makes a huge difference. Consumption should always be a sub-set of the income we have. Don’t equate it. If you equate it, then there will be no savings, and capital formation will not occur.
“When capital formation does not occur, you don’t invest, and when you don’t invest, you stay where you are, and that poverty becomes vicious and reinforcing.”
The entrepreneur and philanthropist also advised that people should keep an eye on how they are characterised and how they are framed.
“If not, you will see a different persona from who you are being formed outside. When others help to frame you, it becomes an uphill task for you to correct.”, he added.
