The Story Of Adégbòrò L'ójà Oba
"In Life, To Endure Is To Achieve."
“ADÉGBÒRÒ left Ibadan for Lagos in search of greener pasture. He chose to carry loads (Aláàbárù) on his head at Oyingbo market to earn a living.
Few years after, he bought a cart from his savings and this eased the pain of carrying loads on his head for commercial purposes. The Cart also increased his income and he was able to acquire 6 more of its kind which he rented out to others.
Exactly 8 years in this cart-pushing business, Adegboro bought a van which many called BÓLÈKÁJÀ, and after learning how to drive, he handled the business by himself. 4 years into the Bolekaja business, Adegboro had been a proud owner of 6 Vans. Being a bona fide Ibadan son, (ọmọ bíbí ìlú Ìbàdàn) ADÉGBÒRÒ built a magnificent building at OJÀ OBA where the Olúbàdàn Palace was situated when it was time to put a roof on his head.
Many people at this period approached Adegboro to show them the secret behind his success. He simply asked them if they could carry loads on their heads in the market to earn income (Aláàbárù)? And their response had always been "NEVER".
He too would spontaneously say “ẸNI TÍ Ò LÈ ȘE ALÁÀBÁRÙ L'ÓYÌNGBÒ, KÒ LÈ ȘE BÍ ADÉGBÒRÒ L'ÓJÀ OBA” – this is a replica of the adage also in Yoruba land that says; “ÌȘASÙN tàbí ÌKÒKÒ TÍ YÍÓ J'ATA (OBÈ), ÌDÍ RÈ Á GBÓNÁ”. (A pot that wants to consume a palatable soup must have its bottom burnt or heated with fire first).
In Life, to endure is to achieve. No short cut is sustainable. Enduring wealth is built over time in a small bit but in a persistent way.”
The Diaspora Dollars’ Take on Adégbòrò's Story
Economic Impact of Adégbòrò's Enterprise
Adégbòrò's journey from a humble load carrier to a successful van enterprise reflects a small-scale economic revolution. His life story isn't just about personal success and illustrates the multiplier effect on a community's economy. Upon analyzing his progress, we discover an important economic principle: as individuals prosper, they contribute to the broader community's prosperity.
By diligently saving money from his hard work at the Oyingbo market, Adégbòrò made a crucial decision to reinvest his earnings back into his growing business. The purchase of a single cart, which seemed like a modest investment, triggered a chain reaction. Not only did it reduce the physical burden of his work, but it also increased his financial capacity. Over time, this initial investment multiplied, allowing Adégbòrò to acquire more carts, which he then leased to others, creating new income opportunities within his community.
The economic implications of Adégbòrò's reinvestment strategy are manifold. Firstly, it underscores the significance of capital accumulation and reinvestment as critical drivers of economic development. By channelling his savings into productive assets, Adégbòrò not only expanded his own enterprise but also contributed to job creation, a key ingredient for improving living standards. Each new cart and, subsequently, each van he added to his fleet represented additional employment opportunities for fellow citizens, reducing unemployment and empowering others to earn a dignified livelihood.
Furthermore, Adégbòrò's story highlights the role of entrepreneurship in stimulating local economies. As his business grew, it necessitated a range of ancillary services – from cart maintenance to transport logistics – thus fostering an ecosystem of economic activities that supported and sustained the local market. Such an environment encourages a culture of self-reliance and innovation, which is essential for the prosperity of any economy.
Proactive Approach
Adégbòrò's inspiring tale not only highlights the virtues of consistency, hard work, discipline, and humility but also offers valuable lessons for individuals and societies alike. One of the most striking aspects of Adégbòrò's journey is his proactive approach. Despite the challenges and less-than-ideal conditions, he did not wait for a handout, better government support, or improved circumstances. Instead, he took his life into his own hands, demonstrating that even amidst chaos, one can forge a path to success through determination and hard work.
At the individual level, many people hesitate to engage in jobs they perceive as beneath them, preferring to rely on external sources of support. This reluctance to embrace "low-status" roles overlooks the invaluable learning opportunities they provide. Just as Adégbòrò transitioned from carrying loads in the market to owning a fleet of vans, each job offers a chance to acquire new skills, interact with diverse individuals, and cultivate a deeper appreciation for hard-earned income.
The Virtues
Adégbòrò's journey from carrying loads in the market to becoming a successful entrepreneur was not built overnight. It was marked by unwavering consistency and a steadfast commitment to long-term goals. Similarly, the key to building wealth in personal finance lies in consistent savings, prudent investments, and a patient approach to wealth accumulation. A study by Fidelity Investments shows that individuals who consistently save, regardless of the amount, accumulate more wealth over time compared to those who save sporadically. By adopting a long-term mindset and staying the course, individuals can overcome short-term challenges and achieve financial independence, no matter where they start.
Adégbòrò's success was a product of relentless hard work and discipline. He toiled tirelessly in the market, gradually saving and reinvesting his earnings to expand his business. Likewise, in personal finance, there are no shortcuts to success. It requires disciplined saving habits, prudent financial management, and a willingness to make sacrifices in the present for the sake of future prosperity. By embracing hard work and discipline, individuals can lay the foundation for financial stability and growth.
Adégbòrò's story teaches us that even as the goalposts of success undoubtedly change, humility acts as a steadfast companion, ensuring that we stay true to ourselves and our values regardless of external circumstances. Humility enables us to appreciate how far we've come, find contentment in our journey, and remain on the right path, even when faced with the temptation to compare ourselves to others or to chase fleeting measures of success.
Time, as Adégbòrò's story illustrates, is a precious resource that waits for no one. To properly use time, one must take the first step toward their goals, regardless of their circumstances. In personal finance, delaying action can be costly, as the power of compounding works best over time. By starting early, individuals can harness the full potential of time to grow their wealth and secure their financial future. Whether saving for retirement, investing in education, or pursuing entrepreneurial ventures, the key is to begin the journey today, knowing that every small step brings them closer to their desired destination.
Adégbòrò's journey was a continuous learning experience. Carrying loads in the market taught him the value of hard work and perseverance. Purchasing his first cart taught him about investment and risk-taking. As he expanded to owning multiple carts, he gained insights into management and delegation. Learning to drive and manage vans further developed his entrepreneurial skills. Each stage of his journey was a learning opportunity, emphasizing that education is not limited to formal settings but is a lifelong process of growth and adaptation.
Similar Success Stories: Companies and Countries
Adégbòrò's story is not unique in its trajectory from humble beginnings to significant success. Similar examples can be found globally. Take Adidas: Adidas’s founder, Adi Dassler, started with limited resources but focused on quality and innovation. Over time, his commitment to reinvestment, improvement, and expansion led to Adidas becoming a global powerhouse.
On a national scale, consider South Korea. Post-Korean War, South Korea was one of the poorest countries in the world, relying heavily on agriculture. However, through strategic investment in education, technology, and industrialization, South Korea transformed into a leading global economy known for its advanced technology and strong manufacturing sector. This transformation, driven by disciplined national policies and a culture of hard work and education, mirrors the principles seen in Adégbòrò's journey.
Culture
Adégbòrò's journey is not just a tale of personal triumph but also a model for societal transformation. By embracing principles of hard work, humility, and resilience, societies can foster environments conducive to widespread economic and social progress. To understand the broader implications of these virtues, we can look at similar success stories and initiatives that have led to significant societal advancements.
The Igba Boy Initiative
One compelling example of how such principles can drive societal change is the Igba Boy apprenticeship system in the Igbo community of Nigeria. Known culturally for their entrepreneurial spirit, the Igbo people have a strong tradition of business acumen and commercial activities. This has been a significant factor in their economic success, both within Nigeria and internationally. Their traditional apprenticeship system has been instrumental in producing numerous Igbo millionaires and billionaires. The Igba Boy system involves young boys apprenticing to successful traders or business owners. Over several years, these apprentices learn the ropes of the trade, often starting with menial tasks and gradually taking on more responsibilities. At the end of their apprenticeship, they are typically given a sum of money and goods to start their own business.
The success of the Igba Boy initiative can be attributed to several key factors:
Mentorship and Skill Development: Apprentices receive hands-on training and mentorship from experienced business owners, equipping them with practical skills and knowledge.
Long-Term Commitment: The apprenticeship period often spans several years, instilling in the apprentices a sense of dedication and perseverance.
Community Support: The Igbo community values and supports entrepreneurial endeavours, creating a conducive environment for business growth.
Access to Capital: At the end of the apprenticeship, the provision of startup capital ensures that the new entrepreneurs can establish their businesses without the initial financial burden.
Policies
By embodying the virtues of hard work, consistency, and resilience, the Igba Boy initiative has not only transformed individual lives but also contributed significantly to the economic development of the Igbo community. This model highlights how structured support systems and cultural values can lead to collective prosperity.
The following isn’t new; many policies and advocates exist for this. However, I believe it needs to be highlighted so there can be more discourse and movement towards implementing these policies:
Skill Development Programs: Governments and businesses should invest in training programs that equip individuals with practical skills relevant to the local job market. These programs should emphasize hands-on experience and mentorship, similar to the Igba Boy system.
Support for Small Businesses: Providing financial support and incentives for small businesses can drive economic growth. This includes access to microloans, grants, and startup capital for aspiring entrepreneurs.
Promotion of Entrepreneurship: Societal attitudes towards entrepreneurship must shift towards valuing and celebrating entrepreneurial efforts. This can be achieved through media campaigns, educational curricula, and community initiatives highlighting successful entrepreneurs as role models.
Inclusive Policies: Policies that promote inclusive growth, such as those supporting marginalized groups, women, and youth, are essential for widespread prosperity. By ensuring that all segments of society have access to opportunities, communities can achieve more balanced and sustainable development.
Long-Term Thinking: Encouraging a long-term mindset is crucial for both personal and societal progress. This involves fostering patience and resilience and focusing on sustainable growth rather than short-term gains.
In conclusion, Adégbòrò's story is not just one of personal triumph but a blueprint for societal transformation. His journey from a humble load carrier to a successful business owner exemplifies how enduring wealth is built through small, persistent efforts. By adopting his proactive approach and embodying the virtues he demonstrated, individuals and societies can achieve sustainable growth and widespread prosperity. The principles of hard work, consistency, discipline, humility, and effective time management, as illustrated by Adégbòrò and the Igba Boy initiative, offer a pathway to economic and social advancement that can elevate communities and nations alike.
You nailed on the hardly travelled path yet promising and rich. The journey from bottom up is very rare for the majority because it demands the things that they aren’t willing to do. Things like persistence, hard work, patience, ambition, consistency are hard to maintain but can lead to greater wealth for the rest of the community. The above story is one to emulate, especially for us Africans. If each one of us built atleast one business, we would employ millions of unemployed youth in Africa.