An automobile businessman, Mr. Ndubisi Chidomere, has advised entrepreneurs to build businesses that are sustainable and capable of being sold, describing buying and selling as the foundation of trading.

Mr. Chidomere, popularly known as the “Billionaire Mechanic,” who gave the advice while speaking at a business summit in Awka said one of the principles of billionaires is the ability to buy what they can sell, urging entrepreneurs to adopt the same principle in building their businesses.

He advised business owners who desire sustainability to start building businesses they can eventually sell, stressing that while planning for business growth, they should also have an exit plan.

Mr. Chidomere identified the inability of many entrepreneurs to buy products that have a ready market as one of the major challenges affecting their businesses even as he described a business as a living thing, urging entrepreneurs to manage their stock and cash flow effectively.

The businessman further called for delegation of responsibilities, innovation and continuous upgrading, while urging entrepreneurs to go the extra mile in recruiting quality personnel and rewarding them appropriately and explained that businesses aspiring to achieve a net worth running into billions of naira must be prepared to employ and adequately remunerate people capable of thinking at a higher level and developing systems that can increase productivity.

Mr. Chidomere described a business team as its strongest selling point, noting that the more entrepreneurs invest in their workforce, the greater their potential returns.

He stressed that quality personnel, when properly motivated and empowered, are more likely to contribute innovative ideas and help drive the growth and profitability of the business.