You don’t build successful companies by focusing on profit first

By John Ogunsemore

Billionaire businessman, Tony Elumelu said achieving sustainable prosperity in Africa entails a mindset shift that prioritises empowering people and creating value before measuring success.

The Group Chairman, United Bank for Africa (UBA) Plc said this in a Monday leadership nugget shared on Facebook.

The billionaire businessman said he learnt early in his career that successful companies could not be built by focusing on profit first.

According to him, the focus must first be on empowering the people that would work the system to deliver profitability.

Elumelu said, “In leadership, the hardest decisions are rarely about numbers. They’re about people.

“Early in my career, I learned something most leaders discover too late: you don’t build successful companies by focusing on profit first. You build them by focusing on people, and profit follows.

“Today, every decision I make at Heirs Holdings or UBA Group m still comes back to this: Empower people. Create value. Then measure the success.

“This is the mindset Africa needs for sustainable prosperity.”