The Igbo man in business can never allow anyone see his bank statement.
He is madly secretive and protects it with his life.
There is nothing like bank reconciliation done in his business, because his accountant must never sight his statement.
When an Igbo business man shows you his accountant, kindly interpret it to mean his accounts clerk because there are far too many things that happen above his head.
The person he calls accountant doesn’t know one-tenth about his finances.
Sadly, these set of Igbo men have no active succession plan.
Some of them involve their wife in the business, but she never truly knows one-tenth of what they know and use in running that business.
Others involve their siblings in the business. Most times, their siblings do not have the right skill and competence to carry on the baton properly, because the passion and drive is typically missing.
The Igbo man is very good in business, but still struggles with proper succession.
His biggest problem – SECRECY!!!
Many Igbo men die with this problem of SECRECY.
I have studied them and they do not want to be helped.
Even when they buy a software, the software isn’t allowed to function optimally because of their secrecy issues.
No one must see this.
No one must see that.
Remove that function.
Don’t allow this function.
If only the Igbo man can see his business like Shoprite or any other big company, hire the right professionals, not his siblings, and do the proper succession plan, he would build an empire that will last.
I pray that the young Igbo generation can truly build to last.
I am tired of too many rich Igbo men, whose businesses died the very moment they died.