LaudateII:


And how many novels have you written? If you have written a few, how many got to the best sellers list? You are here criticising Paddy Adenuga's writing skills, but your own writing skills are nothing to even write home about!

Do not allow bad-belle to kill you. The guy told the story from his own personal perspective, and not from the perspective of a 3rd party! So where is the so-called boasting coming from? I strongly doubt the fact that Paddy got a ghost writer, because from info that is freely available in the public domain, it is said that Paddy has been a scriptwriter since he was 15!

In the world of international business, millions of USD moves through the financial system globally, every day. Only unexposed people like you sitting in your bedrooms in one Naija town, would be astonished at the volume of transactions that go on using the dollar as a medium of exchange, daily! Talk to treasurers of multinational institutions, and bankers who have worked with world-class financial houses, and you would know.

chronique:



True. I started biz all by myself with no mentor nd nobody dropping a dime. I have seen some of lovely ideas which I carelessly submitted to companies with the view of them sponsoring it,being tweaked and reproduced on grand scale and I had no idea who to hold. I'd even carelessly posted those ideas on Nairaland way back... That was just the naive and inexperienced me back then. I once sat and talked with my dad about financing some of my lofty ideas. He looked me in the eyes and told me the ideas were actually great and juicy but were too risky to finance. As someone who was in charge of credit risk in one of Nigeria's biggest first generation banks,he felt it risk was too high despite the ROI being very high. He simply told me what the banks were interested financing, were businesses that could easily show how the 1 naira can become 2 naira with minimum with the barest minimum risk. Moreover, there had to be such existing businesses on ground... It was the same old archaic way of Nigerian banks lending money to businesses. From that day onward,I decided to keep all my ideas to myself until I have enough money to push them. This year,I'd be testing the waters with one.

If only I had mentors or financiers back then,things would have different. But I have few regrets. Those experiences have become valuable to me.

tensazangetsu20:

Don't you know that you have to get a second party to sign a non disclosure agreement before you reveal your ideas and besides an idea Is nothing. If you have an excellent idea and you don't have a solid team to implement it then it's as good as shit and as for money, there are so many ways to get money as an entrepreneur. Think think think!!!.

slyfoxxjoe:
This is a brilliant read. Never saw Paddy in this light. People always referred to him as the 'oloriburuku' of the family but this interview makes him sound like a real business intellectual.

LaudateII:
Beautiful! Awesome! Those were the first words that crossed my mind, when I read this article. The next was "audacious." Paddy Adenuga has shared his thoughts, in a way that grips the senses and makes it difficult for you to look away. I would like to see this story made into a movie or at worst, a documentary, because there are too many valuable lessons in it.

1). It is not enough to dream, you must also 'do': Vision is what gives rise to action. And action is what gives birth to change. Too many of us dream of how to do something different, or make something great. Very few of us actually take the plunge. Paddy had an idea, and he took steps to make it happen. So many people have a dream, but do not know how to go about actualising it. Paddy had a dream, then he formed a plan, put up a structure, built a financial base, got the right people and executed it.

2). Money answereth most, (not all) things: Yes, one might have money, but if such funds are not deployed in a productive venture or in a fruitful manner, in the right way, at the right place, into the right endeavour, then such funds would never add any benefit to its' owner. It would dwindle, and eventually get frittered away. Too many rich kids live lives of opulence with zero sense of direction. It is critical to know when and how to throw the right sum of money into a good venture, in order to make it profitable.

Money, no matter how much it is, is certainly not a substitute for skill, expertise, hard work or talent. Money in the wrong hands could even become a destructive force, if the owner does not know what to do with it. Money could also prevent a person from thinking clearly, if it is allowed to cloud the senses. It is also critical to know exactly when to stop throwing good money after bad, and when to cut your losses and walk away.

3). A financial war chest is a great asset, but not a substitute for homework: Some dreams won't come true, unless you have the money to bring them to reality. As stated earlier, it is not just the cash that matters, but the work you put in to ensure that money makes things happen for you, or creates opportunities that work in your favour, or help you accomplish your tasks. There is an old saying that goes this way - "Take what you want from life, but make sure to pay for it." Paddy had a war chest of 50 million USD. It made everyone sit up, and take him seriously.

But the most important bit, was that Paddy did his homework thoroughly. He researched the company he wanted to buy inside out, he contacted movers and shakers that could influence the bid outcome, and persuaded his competitors to become his partners. Compare this to the DISCOs who bought over electricity firms in the country, and started crying about how indebted those firms were, the day after they had bought them. They even went back to govt to beg for more money at the end of the day.

4). Prepare, Collaborate - always get the best talent and reward them: In setting up Catalan, Paddy didn't look towards his clique, lineage, colour or ethnic group, but sourced for those with the right skills, the right aptitude, intelligence, talent and experience, who could contribute meaningfully to his endeavour, and brought them on board. He avoided mediocres. Only those who knew their stuff got on his team. One man does not make a forest.

He surrounded himself with valuable sources of experience in the form of his mentor, his advisers etc., and reached across global distances to form alliances, even with those who initially competed against him. In Nigeria, we like to do things alone and this sometimes takes a huge toll on us. In many places here, collaboration is almost like a dirty word...and many of us, don't listen to good advice. Too many folks often think they know it all.

5). Aim high, stake big: Paddy sought for the best deal for his company. He didn't think small. Another person might have seen the Chevron Netherlands acquisition, as too big a deal, to even touch. But for Paddy, it was the perfect vehicle to launch his vision. He didn't think it was too far-fetched for a young African boy, to make a bid for the Dutch subsidiary of one of the world's most successful oil companies - Chevron. Paddy had what they called 'chutzpah,' the Hebrew word for confidence and audacity.

6). Choose the right strategy, and listen to your instincts: When the power play started, Paddy had to change his strategy. He applied native wisdom to his tactics. First, when someone on the team of his competitors was becoming an obstacle to his plans, he fired off an explosive e-mail to his partners, that upset the apple cart. In the ensuing scramble to unravel the subsequent chain of events, his greatest stumbling block on the opposing team called Alex, played right into his hands.

Sometimes all the best advice in the world, might go against your gut instinct. What do you do? That is the million dollar question. It takes years of practice and sequence of events, to learn how to distinguish between the right gut instinct, and the wrong ones. Paddy made a few right calls when he followed his instincts, initially. But when he failed to go with his instincts, that one time - he lost.

7). Divine intervention has a part to play: Each time he was at a cross road, Paddy prayed. And somehow, answers came. He knew he didn't have all the answers so he trusted the Creator to step into the situation, and make things work out in his favour. Yet, in one instance he actually overlooked one of the answers sent to him by God, when he ignored Remi, an old friend who actually had the right keys to his puzzle. And it cost him big time, at the end of the day.

There are too many lessons to be learnt from this story, and I do hope that one day, Paddy would launch another bid for a global oil firm . I believe his next venture would be successful. Why? He has gone through a difficult baptism, and has learnt too many valuable lessons in how NOT to fail again, in a business deal. They don't teach such things in Harvard Business School.

_{cc: Kn23h, totit, deomelo, mercyville, Jetleee, superstar1, ODVanguard, Rosa Considine, ibkayee, robotix, ishilove, MasterChen, hilroy, Ritchiee, OkutaNla, kaysco, lalasticlala, macof, veraponpo, Konquest, Sanchez01, Jarus, naptu2, Katsumoto, Orikinla, Coptic, ramdeuter}

stephenmorris:
A LION IN THE NORTH SEA: THE BATTLE FOR CHEVRON NETHERLANDS

It was October 2013, two years had passed since I had left the family business in Lagos, Nigeria and moved to London, England to start my own oil trading company. My time in the family business, as a director in the telecoms division and upstream oil & gas company was challenging to say the least but engaging and ultimately rewarding. However, I have never felt comfortable with sitting back and getting a golden pass through life. Whilst the easy thing to do was to be a “good boy and good son” and enjoy all the luxuries of being in a family business – I decided that striking it out on my own once again was the best course of action.

I’ve always loved the oil & gas business, like many other Nigerians. However, what I love about the business, particularly the exploration and production (upstream) side, was the mixture of strategy, operational capability, technical know-how, politics and business acumen which all had to be married with a gambling spirit and sheer luck to be successful. In my decision to move to London, I decided I would only be in the oil & gas business as long as it didn’t pose a direct conflict to the family’s interests. There is striking it out on your own and then there is just being plain foolish. Luckily for me, I had stopped being foolish by then.

The modus operandi of my oil trading business was simple. I kept an office in Lagos with a small team of five to run operations and logistics. I converted one of the bedrooms in my townhouse in London into a study. My team in Lagos under my guidance would get oil trading contracts and I, sitting in London, would either market these contracts to the global oil trading houses to execute in Nigeria on a joint venture (JV) basis or in some instances, I would find the capital to execute the contract from end to end. This formula proved effective and it was good enough to pay my bills and afford me an above modest lifestyle.

One of the traits I took from my parents is that I am highly ambitious and find it hard to sit still. There always has to be a new conquest, a new mountain to climb, or, as is the case most times, a new business to go after. Oil trading was my day job but was never exciting to me except for when I got paid. After days and weeks in London plotting my next move, I came up with an idea and a plan. In the world of upstream oil & gas, especially in Africa, companies that were operators, actively producing oil & gas in commercial quantities that wanted to invest or participate in the oil business were the darlings of the industry. They were like the prettiest girl in high school and every guy wanted her to come to the prom with him.

Most of the oil producing nations in sub-Saharan Africa such as Nigeria, Angola, and Equatorial Guinea would always require any investor into oil & gas assets in their country to either be an oil & gas operator with production on stream or be partnered with an operator, deemed a “technical partner”. This logic makes sense. If you are going to buy prized national assets, you should have the know how to develop and operate them or at least be partnered with an entity that does. I decided that I was going to use a Trojan Horse strategy. I had read ancient Greek literature when I’d attended military academy in Texas and it served as inspiration. I would acquire an oil & gas operating company in Europe (the Trojan Horse), where the political barriers and costs to entry in comparison to Africa would be significantly lower. I would then use this newly acquired company, which would now be of Afro-European in heritage, to become a technical partner to many local and international investors in the upstream oil & gas business in Africa. This company would be the first of its kind and likely the most sought-after oil & gas company on the African continent because of its unique DNA and ownership. After thinking of this idea, I took myself out to a bar a few blocks from my house and ordered myself a nice strong drink. I felt like a genius.

I registered a new upstream oil & gas investment company offshore and called it, The Catalan Corporation. The name didn’t really have a meaning, it just sounded nice and had a confident, stately demeanour to it. To keep costs at a minimum, I decided to put together an advisory board that consisted of Vance Querio, the COO of Addax Petroleum at the time and an industry professional and my mentor (who will remain nameless for good reason), one of Africa’s biggest business giants. Vance was all too happy to join and signed on quickly. I called my mentor and before signing on, he wanted a face to face meeting for me to explain my plan and ambitions for Catalan. He asked me to meet him in the early spring of 2014 at a health spa in a small Swiss village outside of Zurich. I have to admit the drive from Zurich to this little village tucked within the Swiss mountains still remains one of the most beautiful sights I have ever seen. The spring sun had begun to melt the snow on the mountains and in the distance; you could see the melting snow turn into giant waterfalls pouring off the mountains. It was like an oil painting come to life.

I eventually met with my mentor and after explaining my idea to him and that him being on my advisory board would not only give my burgeoning company credibility but help us raise cash, he agreed in totality and went further to tell me that I should tell anyone and everyone that he was not only on board but was going to give our company his full support. We drank some tea together and the next morning I was off back to London. My little plan for Africa oil & gas was coming together, finally put into action by two African men in a Swiss village. You couldn’t make this stuff up.

On the plane flying back to London from Zurich, even though I had just gotten my mentor on board, I felt that there was someone missing. A few years prior I was the spearhead of my family’s acquisition drive for OML 30 (this is another whole story in itself), one of Shell Nigeria’s most lucrative oil blocks that was up for sale, I met a brilliant English banker named Edgar. Edgar had more than 30 years of oil & gas operations and finance experience. He was respected by the industry on a global basis and having him on board would be the final piece in the puzzle, the icing on the cake. I called Edgar immediately I landed and asked if we could meet for lunch, my treat as always.

I pitched Catalan to Edgar and how if we pulled this off it would be the grandest of coups. Edgar was highly intrigued but stated that he wanted hard cash upfront from the onset. Whilst the others were all too eager to come on board and make their money via sweat equity or cash incentives when we had a target company in our sights, Edgar wanted to be paid money and a substantial amount before putting pen to paper. I was confused by his behaviour. I told him who the others were that were on Catalan’s advisory board but he wasn’t having it, either he would be paid his princely sum to attach his name to Catalan or no deal. I was 29 at the time and was still head-strong and prideful. How could this guy develop such an attitude? I thought we were friends. I suppose Edgar knew his value and wasn’t going to mortgage it on a promise of monies at a later date. As much as he liked my Trojan Horse idea, he just happened to like money more. I balked at his request in annoyance. I paid for lunch, told him no way, and stormed off home. This was a big mistake on my part that would rear its ugly head later.

I appointed two of my most trusted confidants as directors in Catalan and with that the company was set to go. I designed the logo for Catalan – a coat of arms with a cross in the middle. I am after all a devout Catholic and a strong believer in God, so why not have my faith represented on my company logo? I then called my friend Nicolas Lavrov, a web and graphics designer and over the course of a week we put together a sleek and polished company profile which me, my directors and advisory board began emailing out to interested parties. A few weeks later, I got an email from Richard Kent of Jeffries. Jeffries are an investment bank that work closely with multi-national oil companies (the majors) on the acquisition or divestment of oil & gas assets on a worldwide basis. Richard had gotten a copy of my company profile and wanted to have a meeting. I wore one of my finest suits and hopped into a taxi to his offices in London City.

Richard and I talked extensively about my background and my ambitions for Catalan. I explained to him the type of company we were looking to acquire, ideally an oil & gas company in Europe, preferably operating out of the North Sea with a strong daily production and enough reserves to warrant further investment in development. I also told Richard how much we would be ready to spend for the first acquisition – between USD 50 million and USD 100 million. We would finance our acquisition via reserve based lending and would likely raise cash equity of thirty percent of our purchase price with a Bank raising debt of seventy percent to help the balance of the purchase price. I had described the “goldilocks” company Catalan needed to acquire. With that said, Richard told me to give him some time to find the best deal for Catalan.

A few weeks later Richard called me, “I have the perfect deal for you Paddy!” US oil giant, Chevron, had decided to sell their entire upstream, exploration and production business in the Netherlands and had appointed Jeffries to manage a bid process for the sale of Chevron Netherlands. The sale included their production platforms in the North Sea off the Dutch coast, their office buildings, around a thousand or so native Dutch staff, and their crude and gas pipeline evacuation infrastructure. Even the Chevron coffee and tea mugs were part of the sale. Richard was right, this deal was perfect and the ideal Trojan Horse with which to enter the Africa oil & gas terrain with from Europe. He informed me that this would be a competitive bid against other companies to acquire Chevron but thought that Catalan and I stood a good chance. I told him I was interested and that he should send all the necessary paperwork over. Something within me believed I was going to win this bid and with that in mind I was going to throw everything at it. If I won this bid, I thought, there would be stories written about me for a long time to come.

Chevron are by nature, prudently selective with which companies they invite to bid. So the fact that Catalan was chosen was a big deal to me. I felt like for once in my 29 years, I wasn’t being judged solely by my last name but for my skill, merits and ability. I got the first bits of information from Chevron on their Netherlands assets and I began putting together a team of hired hands to act as my management team for Catalan’s bid. I appointed Dutch law firm DeBrauw as my lawyers, Canadian firm Canaccord Genuity as my finance managers, RPS Energy as my technical managers, and Moore Stephens as my accountants. I informed Chevron of my management team and they asked for a few weeks to open the data room and kick off the bid.

Whilst Catalan and its hired management team waited on Chevron, I decided to be pro-active. From previous my experience with OML 30, not engaging government regulators enough could prove to be unwise. I decided that I needed to meet with the government body in the Netherlands responsible for managing their oil & gas affairs. After all I was a young Nigerian man, trying to buy prized, national Dutch assets. I, more than anyone, needed to be ten steps ahead at any given time. My lawyers put me in touch with Jan-Dirk Bokhoven, the managing director at the time of the Dutch state-owned oil company, EBN. Jan-Dirk and I spoke on the phone and agreed a date to meet at EBN’s head office in Utrecht, a one-hour drive or so outside of Amsterdam.



By Paddy Adenuga

source-https://www.metrodailies.com/careers/paddy-adenuga-son-globacom-boss-nearly-acquired-chevron-netherlands-29/

dumo1:
Oyinbo man sell Chevron Netherlands to a black man under a fresh budding company called Catalan what what? without any years of proven track records. This guy must have been really high on pot when going for those board meetings..

LaudateII:
Beautiful! Awesome! Those were the first words that crossed my mind, when I read this article. The next was "audacious." Paddy Adenuga has shared his thoughts, in a way that grips the senses and makes it difficult for you to look away. I would like to see this story made into a movie or at worst, a documentary, because there are too many valuable lessons in it.

1). It is not enough to dream, you must also 'do': Vision is what gives rise to action. And action is what gives birth to change. Too many of us dream of how to do something different, or make something great. Very few of us actually take the plunge. Paddy had an idea, and he took steps to make it happen. So many people have a dream, but do not know how to go about actualising it. Paddy had a dream, then he formed a plan, put up a structure, built a financial base, got the right people and executed it.

2). Money answereth most, (not all) things: Yes, one might have money, but if such funds are not deployed in a productive venture or in a fruitful manner, in the right way, at the right place, into the right endeavour, then such funds would never add any benefit to its' owner. It would dwindle, and eventually get frittered away. Too many rich kids live lives of opulence with zero sense of direction. It is critical to know when and how to throw the right sum of money into a good venture, in order to make it profitable.

Money, no matter how much it is, is certainly not a substitute for skill, expertise, hard work or talent. Money in the wrong hands could even become a destructive force, if the owner does not know what to do with it. Money could also prevent a person from thinking clearly, if it is allowed to cloud the senses. It is also critical to know exactly when to stop throwing good money after bad, and when to cut your losses and walk away.

3). A financial war chest is a great asset, but not a substitute for homework: Some dreams won't come true, unless you have the money to bring them to reality. As stated earlier, it is not just the cash that matters, but the work you put in to ensure that money makes things happen for you, or creates opportunities that work in your favour, or help you accomplish your tasks. There is an old saying that goes this way - "Take what you want from life, but make sure to pay for it." Paddy had a war chest of 50 million USD. It made everyone sit up, and take him seriously.

But the most important bit, was that Paddy did his homework thoroughly. He researched the company he wanted to buy inside out, he contacted movers and shakers that could influence the bid outcome, and persuaded his competitors to become his partners. Compare this to the DISCOs who bought over electricity firms in the country, and started crying about how indebted those firms were, the day after they had bought them. They even went back to govt to beg for more money at the end of the day.

4). Prepare, Collaborate - always get the best talent and reward them: In setting up Catalan, Paddy didn't look towards his clique, lineage, colour or ethnic group, but sourced for those with the right skills, the right aptitude, intelligence, talent and experience, who could contribute meaningfully to his endeavour, and brought them on board. He avoided mediocres. Only those who knew their stuff got on his team. One man does not make a forest.

He surrounded himself with valuable sources of experience in the form of his mentor, his advisers etc., and reached across global distances to form alliances, even with those who initially competed against him. In Nigeria, we like to do things alone and this sometimes takes a huge toll on us. In many places here, collaboration is almost like a dirty word...and many of us, don't listen to good advice. Too many folks often think they know it all.

5). Aim high, stake big: Paddy sought for the best deal for his company. He didn't think small. Another person might have seen the Chevron Netherlands acquisition, as too big a deal, to even touch. But for Paddy, it was the perfect vehicle to launch his vision. He didn't think it was too far-fetched for a young African boy, to make a bid for the Dutch subsidiary of one of the world's most successful oil companies - Chevron. Paddy had what they called 'chutzpah,' the Hebrew word for confidence and audacity.

6). Choose the right strategy, and listen to your instincts: When the power play started, Paddy had to change his strategy. He applied native wisdom to his tactics. First, when someone on the team of his competitors was becoming an obstacle to his plans, he fired off an explosive e-mail to his partners, that upset the apple cart. In the ensuing scramble to unravel the subsequent chain of events, his greatest stumbling block on the opposing team called Alex, played right into his hands.

Sometimes all the best advice in the world, might go against your gut instinct. What do you do? That is the million dollar question. It takes years of practice and sequence of events, to learn how to distinguish between the right gut instinct, and the wrong ones. Paddy made a few right calls when he followed his instincts, initially. But when he failed to go with his instincts, that one time - he lost.

7). Divine intervention has a part to play: Each time he was at a cross road, Paddy prayed. And somehow, answers came. He knew he didn't have all the answers so he trusted the Creator to step into the situation, and make things work out in his favour. Yet, in one instance he actually overlooked one of the answers sent to him by God, when he ignored Remi, an old friend who actually had the right keys to his puzzle. And it cost him big time, at the end of the day.

There are too many lessons to be learnt from this story, and I do hope that one day, Paddy would launch another bid for a global oil firm . I believe his next venture would be successful. Why? He has gone through a difficult baptism, and has learnt too many valuable lessons in how NOT to fail again, in a business deal. They don't teach such things in Harvard Business School.

_{cc: Kn23h, totit, deomelo, mercyville, Jetleee, superstar1, ODVanguard, Rosa Considine, ibkayee, robotix, ishilove, MasterChen, hilroy, Ritchiee, OkutaNla, kaysco, lalasticlala, macof, veraponpo, Konquest, Sanchez01, Jarus, naptu2, Katsumoto, Orikinla, Coptic, ramdeuter}

americanson:
Succinctly put...

But what most people missed is that he has not deployed his Trojan horse yet...

The acquisition was just first phase of the whole plan. The next phase was to put him on global radar and possibly dragging rank with his own father. He was merely bootstrapping, acutely using a leverage not yet seen...

LaudateII:

You are right. Something tells me there is still more to this story. I also have a feeling that he has not given up yet. He is probably scanning the horizon for his next bid, or potential acquisition.

I have a hunch that the son might still give the father, a run for his money, one day in the future. Both of them are so alike, and yet still so different.....

LaudateII:
Beautiful! Awesome! Those were the first words that crossed my mind, when I read this article. The next was "audacious." Paddy Adenuga has shared his thoughts, in a way that grips the senses and makes it difficult for you to look away. I would like to see this story made into a movie or at worst, a documentary, because there are too many valuable lessons in it.

1). It is not enough to dream, you must also 'do': Vision is what gives rise to action. And action is what gives birth to change. Too many of us dream of how to do something different, or make something great. Very few of us actually take the plunge. Paddy had an idea, and he took steps to make it happen. So many people have a dream, but do not know how to go about actualising it. Paddy had a dream, then he formed a plan, put up a structure, built a financial base, got the right people and executed it.

2). Money answereth most, (not all) things: Yes, one might have money, but if such funds are not deployed in a productive venture or in a fruitful manner, in the right way, at the right place, into the right endeavour, then such funds would never add any benefit to its' owner. It would dwindle, and eventually get frittered away. Too many rich kids live lives of opulence with zero sense of direction. It is critical to know when and how to throw the right sum of money into a good venture, in order to make it profitable.

Money, no matter how much it is, is certainly not a substitute for skill, expertise, hard work or talent. Money in the wrong hands could even become a destructive force, if the owner does not know what to do with it. Money could also prevent a person from thinking clearly, if it is allowed to cloud the senses. It is also critical to know exactly when to stop throwing good money after bad, and when to cut your losses and walk away.

3). A financial war chest is a great asset, but not a substitute for homework: Some dreams won't come true, unless you have the money to bring them to reality. As stated earlier, it is not just the cash that matters, but the work you put in to ensure that money makes things happen for you, or creates opportunities that work in your favour, or help you accomplish your tasks. There is an old saying that goes this way - "Take what you want from life, but make sure to pay for it." Paddy had a war chest of 50 million USD. It made everyone sit up, and take him seriously.

But the most important bit, was that Paddy did his homework thoroughly. He researched the company he wanted to buy inside out, he contacted movers and shakers that could influence the bid outcome, and persuaded his competitors to become his partners. Compare this to the DISCOs who bought over electricity firms in the country, and started crying about how indebted those firms were, the day after they had bought them. They even went back to govt to beg for more money at the end of the day.

4). Prepare, Collaborate - always get the best talent and reward them: In setting up Catalan, Paddy didn't look towards his clique, lineage, colour or ethnic group, but sourced for those with the right skills, the right aptitude, intelligence, talent and experience, who could contribute meaningfully to his endeavour, and brought them on board. He avoided mediocres. Only those who knew their stuff got on his team. One man does not make a forest.

He surrounded himself with valuable sources of experience in the form of his mentor, his advisers etc., and reached across global distances to form alliances, even with those who initially competed against him. In Nigeria, we like to do things alone and this sometimes takes a huge toll on us. In many places here, collaboration is almost like a dirty word...and many of us, don't listen to good advice. Too many folks often think they know it all.

5). Aim high, stake big: Paddy sought for the best deal for his company. He didn't think small. Another person might have seen the Chevron Netherlands acquisition, as too big a deal, to even touch. But for Paddy, it was the perfect vehicle to launch his vision. He didn't think it was too far-fetched for a young African boy, to make a bid for the Dutch subsidiary of one of the world's most successful oil companies - Chevron. Paddy had what they called 'chutzpah,' the Hebrew word for confidence and audacity.

6). Choose the right strategy, and listen to your instincts: When the power play started, Paddy had to change his strategy. He applied native wisdom to his tactics. First, when someone on the team of his competitors was becoming an obstacle to his plans, he fired off an explosive e-mail to his partners, that upset the apple cart. In the ensuing scramble to unravel the subsequent chain of events, his greatest stumbling block on the opposing team called Alex, played right into his hands.

Sometimes all the best advice in the world, might go against your gut instinct. What do you do? That is the million dollar question. It takes years of practice and sequence of events, to learn how to distinguish between the right gut instinct, and the wrong ones. Paddy made a few right calls when he followed his instincts, initially. But when he failed to go with his instincts, that one time - he lost.

7). Divine intervention has a part to play: Each time he was at a cross road, Paddy prayed. And somehow, answers came. He knew he didn't have all the answers so he trusted the Creator to step into the situation, and make things work out in his favour. Yet, in one instance he actually overlooked one of the answers sent to him by God, when he ignored Remi, an old friend who actually had the right keys to his puzzle. And it cost him big time, at the end of the day.

There are too many lessons to be learnt from this story, and I do hope that one day, Paddy would launch another bid for a global oil firm . I believe his next venture would be successful. Why? He has gone through a difficult baptism, and has learnt too many valuable lessons in how NOT to fail again, in a business deal. They don't teach such things in Harvard Business School.

_{cc: Kn23h, totit, deomelo, mercyville, Jetleee, superstar1, ODVanguard, Rosa Considine, ibkayee, robotix, ishilove, MasterChen, hilroy, Ritchiee, OkutaNla, kaysco, lalasticlala, macof, veraponpo, Konquest, Sanchez01, Jarus, naptu2, Katsumoto, Orikinla, Coptic, ramdeuter}

OAM4J:


I have been around here long enough not to be surprised at the comments. You will find better comments and analysis in Big Brother Nigeria threads.

I practically suspended all activities to read the story till end. How I wish I find business strategy stories like this to read every day free of charge here... I will be happier.

chinnyonwu:

As in i kept reading beyond page one to convince myself there was a sane person left on nairaland.

LaudateII:
Other lessons;

8. Give it all you have got: Paddy didn't approach the deal in a half-hearted manner. He went in with a lot of passion, energy and enthusiasm to make it work. He negotiated with a few influential folks to get the right kind of deals that would help his project. With others, he paid for their time & skill in order to get their support, for his dreams. He was pro-active and even reached out to the management of the largest state-owned oil & gas firm in the Netherlands. There were no short-cuts or half measures. That was why his failure to clinch the deal, hit him hard!

9). Always find out why you failed: In the business world, it is called asking for feedback. Paddy kept reaching out to the Chevron subsidiary to find out the outcome of his bid. The first feedback he received, led him to readjust his strategy and form a joint venture with his competitors. The second feedback he received, made him realise that he should have followed his gut instinct.

He sought feedback and got it. The feedback tells you the reason why you failed. So that you can prevent similar set backs in future. It is the reason why pathologists carry out autopsies, or post-mortems, lawyers conduct inquests, and structural engineers as well as regulators seek to know why a building collapsed.

In Nigeria, instead of seeking feedback, we prefer to attribute failure to bad luck, the enemies in the village or the fact that somebody does not like our face, stature or ethnic group.

Jethrolite:
I was reading comments and almost felt like crying. I find solace in the fact that crass people are the ones who comment most here, the real quality members are mostly visitors and usually only observe when they create an account.

LaudateII:





Honestly, this story is the best thing I have read on NL, in the past one month. I have read it over and over again. Each time, I read through it, a new angle pops up. There are too many rich kids from a similar background, who would not have dared to do half of what he did.

Paddy is such a gifted writer. He shared his story in such an articulate, touching way. If he ever gets bored of the business world, he should venture into the literary circle. He'd make not just lots of money, but also get a large cult following, who would hang on his every word!

LaudateII:


Honestly, this story is the best thing I have read on NL, in the past one month. I have read it over and over again. Each time, I read through it, a new angle pops up. There are too many rich kids from a similar background, who would not have dared to do half of what he did.

Paddy is such a gifted writer. He shared his story in such an articulate, touching way. If he ever gets bored of the business world, he should venture into the literary circle. He'd make not just lots of money, but also get a large cult following, who would hang on his every word!

americanson:
you missed the point where he mentioned his experience from OML (oil mining license) 30?

DonX001:


Lol, the Nairaland of today is just a garbage dump with a few gems buried within it, buried deep and far apart.
To get to the gems, you have to swim through a pile of garbage.

Its sad how we got here, compared to the Nairaland of 2006-2010.

Most of the sensible people don't bother posting anymore since the place is overridden with trash.

Really wish we could have another forum where there are just reasonable people with sensible posts, like the way Nairaland used to be like 10years ago before internet was freely accessible to every dumbass in their diapers.

Jethrolite:
Just a matter of time, it will happen.

DonX001:
Lol, I concur. This is hands down the best story I've read on Nairaland this year, and possibly throughout the whole of last year too.

The Paddy guy is an exceptional writer.

You too sound like you write very well yourself, going by your posts on this thread.
Have you considered going into writing yourself?
I'm sure your "market" will sell.

DonX001:
Lol, the Nairaland of today is just a garbage dump with a few gems buried within it, buried deep and far apart.
To get to the gems, you have to swim through a pile of garbage.

Its sad how we got here, compared to the Nairaland of 2006-2010.

Most of the sensible people don't bother posting anymore since the place is overridden with trash.

Really wish we could have another forum where there are just reasonable people with sensible posts, like the way Nairaland used to be like 10years ago before internet was freely accessible to every dumbass in their diapers.

DonX001:
Spectacular post!!! I wish there was a clapping smiley.
Guy, you got the most value from this Paddy story, and added about the most value to the entire thread too with this your post. (Yes, I read the entire thread from first post to last post).

I've actually been clicking "Like" on almost all your posts on this thread.

Its really great to see that there are Nairalanders who still have a good brain, this forum makes one think that intelligent Nigerians are an extinct species.

Thanks for the post.

DonX001:
Spectacular additions!
Guy, you're bang on the money!

Those kids and "dullardos" that have no clue should read this guy's take home lessons.

Guy, 1 Orijin for you!

LaudateII:


Hehehe....writing is just my hobby. I do it to unwind. I have written specialised articles in the past for trade journals, but that was just on a one-off basis. I am too busy to make it a full-time thing.

LaudateII:


Hehehe....writing is just my hobby. I do it to unwind. I have written specialised articles in the past for trade journals, but that was just on a one-off basis. I am too busy to make it a full-time thing.

LaudateII:


Guy, I dey suspect you, o! You must be an NL veteran. Wait first, what was your name in your former life on NL? Whisper it into my ears. I promise to keep your secrets, secret. 2006-2010 was the golden era of NL. I learnt so much from the masters way back then. The likes of Katsumoto, Jarus, Sienna etc., were some of the gurus who knew their stuff. I actually had to dust up my history books and all, when making a contribution in those days. I would even go on to read up more about the issues they raised, in order to get more info. It was fun, and intellectually stimulating to read their contributions.

But that has all gone now. The respectable veterans have almost all left NL for other pastures. Who can blame them? These days I go to Quora whenever I want to learn anything new, or engage in a stimulating discourse. But when I want to laugh or just make fun of events, I log back into NL.

DonX001:
Yea, its obvious you've had some sort of stint with writing.
And you've got a natural flair for it, from the way you marshal your points, to its delivery and punchlines.

You write almost as well as the Paddy guy himself.

You should consider taking writing serious...maybe even eventually write a book about your own life's successes and challenges.