My Reflections & Notes from Reading “Making It Big”, By Femi Otedola

No book has captured the imagination of Nigeria’s business community quite like Femi Otedola’s “Making It Big”. In fact, no business memoir by a Nigerian has been as widely read and passionately discussed in the digital space as this one. It is not just a memoir; it is a masterclass in business, resilience, strategy, and profound self-awareness.

Having just finished it, I felt compelled to compile my key takeaways, not just for myself, but to share with you all. However, to say I merely “read” this book would be an understatement. I studied it. Over five days, I dedicated long hours to immersing myself in its pages, highlighter in hand, meticulously marking the passages, insights, and profound truths that resonated with my own journey and philosophy. This is a masterpiece, an unfiltered blueprint for success and significance from a man who has seen the very top and the very bottom.

Here are my personal reflections and notes from this phenomenal read:

1. Start Small, But Think Big: The First Hustle
The book opens with a powerful lesson from his childhood: start where you are. At 11, he started “Femco,” a nail-trimming service for his parents’ guests, including his father’s boss, the MD of Mobil. This taught him to spot opportunity, create value, be organised (with his receipt book), and most importantly, to “stoop to conquer” to never be too proud to start with humble tasks, as you won’t stand up empty-handed.

2. The Uncomfortable Truth: Government and The Corridors of Power
Otedola is brutally honest. To “make it big” in an environment like Nigeria, engaging with political authorities isn’t an option; it’s a necessity. He dismantles the myth that his success was solely handed to him by patronage, revealing instead that it’s about understanding the landscape where “politics, policy and commerce mix.” The key isn’t relying on it, but strategically navigating it.

3. The Bedrock: Self-Belief, Instinct and Opportunity
From a young age, Otedola had a crystal-clear vision. His journey underscores a fundamental truth: “you cannot achieve anything significant without a healthy and enduring sense of self-belief, propelled by instinct.” “It’s this self-belief that allows you to spot and create opportunities where others see none. He advises us to constantly ask: “What do I want out of life?”

4. Integrity is Your Only Currency
He says it once, he says it three times: for a new entrepreneur, the focus should be on “integrity, integrity, and integrity.” In a world of shortcuts, your word is your most valuable asset. This resonated deeply with me. Without it, everything else crumbles.

5. The Power of Strategic Solitude and Minimalism
This was a powerful lesson. Otedola speaks eloquently about streamlining his life to focus only on what counts.
* Tone down social activities: He turned down meaningless events to focus 100% on his business and family. “Fake friendship is a burden.”
* Embrace minimalism: It avoids decision fatigue. “Simplifying frees up time for what excites you.”
* Reflect and meditate: He still takes time for mindful meditation daily, jotting down thoughts and visions. This is where great ideas are born.

6. Family is The Ultimate Foundation
Throughout the book, the love and support of his family is a recurring theme. He posits that family can fundamentally make or break you as an entrepreneur and as a person. His clear advice is:
* Family always comes first. Cherish, pamper, love, and support your children and spouse.
* Marry for love, invest time in romance, and support your partner.
* Let your children find their own path; don’t force them into your business.
* Pamper your children, but with sense—don’t overdo it.
* Make a practical plan: always write a will and update it when necessary.

7. Health is The First Wealth
His chapter on health is a manifesto. “Ilera l’ogun oro” – sound health is the key to riches. His discipline is remarkable: a strict diet, daily exercise aiming to burn 700 calories, and prioritising sleep. His message is clear: you can’t conduct business from a hospital bed. Your body is the only vehicle you have for this journey; treat it with care.

8. The Art of The Comeback: How to Face Catastrophe
This is the heart of the book. Otedola’s vulnerability in detailing the collapse of Zenon is his greatest strength. He took full responsibility for the N220 billion debt.
* It’s wise to know how to let go. He called the death of Zenon the rebirth of Femi Otedola.
* Debt is a chain around your neck. His decision to sell “everything” 150 properties, his vast shares—to pay off debts through AMCON (not a write-off, as many think) was “one of the best decisions I ever made.”
* “Bankruptcy is the elder brother of shame”, but he faced it with strategic bravery.

9. Know Thyself: Entrepreneur vs. Manager
A profound moment of self-awareness came late: “I am an entrepreneur and not a manager.” This distinction is crucial. His early success hid this weakness, but the collapse forced him to see it. Understanding your core strength is vital for building a sustainable venture.

10. The Philanthropic Heart: Giving Warms The Soul
His passages on philanthropy are moving. He speaks of an “inner joy” that is difficult to describe. He pays homage to greats like, Aliko Dangote, Alhaji Wahab Folawiyo and nSir Mobolaji Bank-Anthony, (my best philanthropist while growing in Lagos) whose legacy of giving (Igbobi Orthopaedic Hospital and Ayinke House) literally saves lives. His takeaways on giving are a guide for us all:
* Anyone can give; it’s about your widow’s mite.
* Those spared calamities have a responsibility to assist those impacted.
* The positive emotions are beneficial to your own health and wellbeing.
* “You can’t take it with you”.

11. Three Foundational Business Principles
Otedola realised that his intuitive, hard-won strategies were backed by established business theories. He distills his experience into three time-tested principles:
* Combat Decision Fatigue: Adopt a minimalist “uniform” to eliminate trivial daily choices and preserve mental energy for critical business decisions.
* Leverage the 80/20 Rule (Pareto Principle): Focus laser-like on the 20% of tasks and clients that drive 80% of your results. His crucial advice: “save 80% of their initial profits and only spend 20%.”
* Embrace the 10,000-Hour Rule: Mastery requires thousands of hours of deliberate practice. The key takeaway is to “Experiment, experiment, experiment.”

12. The Final Word: The God Factor
Ultimately, Otedola anchors everything in faith. “Without God, we labour in vain.” His final thoughts are a powerful reminder to appreciate the guiding hand of the Almighty, be thankful daily, and trust that our lives are not an accident. “Your inner voice is a tool for your guidance and promotion. Pay attention to your instincts.”

In Conclusion
Thank you, Mr Femi Otedola, for sharing your life story with us, “through all its ups and downs”. This is one of the best business memoirs I have ever read. It’s a masterpiece, well-written unvarnished playbook on how to advance in life, business, and most importantly, how to face and overcome adversity.

PS: For aspiring business leaders and budding entrepreneurs, don’t read this book to trend. Read it to learn, to grow, to become a successful entrepreneur and a cheerful giver. Read it to build a legacy. And perhaps, one day, to write your own story.

PPS: If I may ask, what are the three points above that resonates with you the most?