Category: Entrepreneurship

3 duas to get rich

2 min readTalking about money and how to get rich is always frowned upon. I understand how bragging about how wealthy you are or how much money you have might make people feel anxious,...

Top Ten office etiquettes for a Muslim

4 min readIt is difficult for a Muslim in today’s world to find a halal employment that is ethical, hygienic, and most importantly, provides a halal working atmosphere. The majority of us, particularly those...

5 Islamic Principles to be a successful entrepreneur

Engage in ‘Halaal’ transactions: Allah the Exalted says in the Noble Qur’an, “O you who believe! Eat not doubled and increased riba (usury), but fear Allah so that you may be successful.” (Q3:130).
Apart from usury, Muslims must avoid any enterprise including alcohol, gambling, pornography, or anything else that Islam condemns in its entirety. Even so, some of those ventures appear to be profitable. However, assisting evil behind the scenes is a failure. Furthermore, we are barred from stockpiling things in preparation of scarcity. This is frequently done with the goal of making a large profit when a true scarcity occurs.

3 Main Business strategies of Abdur Rahman Ibn Awf (RA)

The Business Strategy of Abdul Rahman bin Auf (Radhiyallahu Anhu)

Abdul Rahman bin Auf (Radhiyallahu Anhutale )’s exposes his business plan, which is built on three fundamental ideas.

1. Working with Cash

The cash principle is the first principle of Abdul Rahman bin Auf’s (Radhiyallahu Anhu) business plan. He always paid cash for his purchases and always paid cash for his sales. (There will be no credit deals)

2. Never stock products or wait for a greater profit.

The second principle of Abdul Rahman bin Auf’s (Radhiyallahu Anhu) business plan is that he attempted to avoid storing things wherever possible, and he sold goods even if he was only paid a cent of profit. It had a high degree of money flow, thus the main focus was on boosting profits to increase earnings.

3. He was always honest in his dealings.
The third business strategy principle of Abdul Rahman bin Auf (Radhiyallahu Anhu) is that he never hides any flaws in his products. He said it in front of his consumer if his goods was not up to par or if there was even a minor flaw in it.