17/10/2024
Some of Coscharis pep talk videos on the secret of his staying power in business have been popping up on TikTok. Like many Nigerian businessmen, Dr. Cosmas Maduka always publicly give credit to God as the secret to his success. I wonder when they will outgrow these lies.
It's only in Nigeria that you see elders churning out barefaced lies. Using such lies to confuse impressionable young people.
The last video I watched of Coscharis, he lifted the Bible up and claimed it was this book that he found the secrets that helped him become a multimillionaire.
Incidentally, I am also from Nnewi. And my dad was a businessman, the set of Coscharis. Their set is what I will call the Lucky Generation.
I gave them that name because they started business when banks did the unthinkable. They gave out loan facility at the lowest of interest rates.
Nnewi and Onicha businessmen of my father's generation, their success was largely due to the attractive loan policy of African Continental Bank and Union Bank. They granted loans at 4-7% threshold. To cap it up, you do not even need collateral to access some of these healthy loans.
The wise and shrewd businessmen amongst them used these favorable loan conditions to establish themselves. While the foolish ones made the banks to regret such policy. The foolish ones largely led to the demise of ACB.
No doubt, Coscharis is a disciplined and shrewd businessman. Those who know him will attest to the fact that Bro. Cosmas does not care if you are his relation or family, he always stands on business. If it means locking you up, he will do so once you tamper or default with his products or money.
His foresight, integrity and hunger for success drove him in those early days to seal a lot of brand franchise. This was the period the likes of my father were busy being members of Peoples Club of Nigeria, Ekwueme Social Club, Anaedo Social Club with the little money they have made.
Coscharis delayed gratification and kept reinvesting. When banks woke up and came up with stringent loan conditions, Coscharis type were able to meet such conditions.
Today, you have to be sure of your business and possess juicy assets before banks will grant you loan. As at this year, many Nigerian banks give out loans at 30-35% interest rate.
Now, you understand my angst when successful people like Coscharis belittle their efforts and the role banks played in their early beginning whenever they tell their stories. Such misinformation warps the minds of impressionable listeners.
This is why a lot of our people tend to resort to Bible reading and praying to growing their business. Some resort to Ogwu.
Please if you want to tell your success story, tell it properly. Stop saying, God did this one, Bible did this, you are not helping the youths with such wrong updates. Success does not know gender, religion, race or creed! So teach the youths real business truth!
Teach them how they can access facilities
Teach them how to win the trust of investors and foreign partners
Teach them how to delay gratification
Teach them about market forces and how you were able to rise above them
Teach them what you did when you defaulted on loans and how you bounced back.
Dear youths, be wary of these businessmen that hide their success stories. Who knows, there may be skeletons in their cupboards. It may not be what they are showing us they are truly selling. Because at times, I do not understand the need for all the lies and deceits.
Credit:Nze Tobe Osigwe (Ezeikolomuo)
Nkpoka, Nnewichi-Nnewi
Eke.
