Share business tips, idea, story, thought, .... here.

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ardianto

ardianto

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Assalamualaikum.

At first I will say thank you very much to admins who have created new section about business and Islamic finance. This section, In Shaa Allah, can give benefit for us.

So I create a thread where we can share knowledge and learn about business. If you have tips, idea, story, or thought that related to business, you can share it in this thread. In Shaa Allah it will give benefit for the others.

:)
 
Choosing a business

Someone told me that he wanted to start a business, but he still confused with the choice. So he asked me "What business should I choose?". And I told him "If you can't answer that question, ..... change the question".

The question that usually arise in the mind of people who want to have a business is "What business should I choose". This question comes after they notice that there are many field of business that they can choose. Actually this question is not only confuses them, but also can trap them into blindly follow other people just because other people can gain big profit. The worst part is they will focus only to see the profit but forget to see the process. They just see that Mr Fulan can gain big profit from his business, but forget to notice how Mr Fulan built his business.

Yes, many of beginners in business are failed because this mistake. They blindly follow someone else, then establish a business with big expectation of gaining profit. But when they start their business they begin to realize that there are many things about this business that they haven’t know, and begin to confused about what they should do.

So, the right question is "How can I make it become a business".

Look around, see something, and ask that question to yourself. In example, when your mother cooks a food for you, ask yourself, how can you make this food become a business. Then this question will automatically make you start thinking about the important thing like how to cook it, where you can sell, how many capital that you need, how about the market, how to make people interested to buy, etc.

Asking the question “How can I make it into business” will make you easier to choose a field of business that matched with your condition, situation, ability and affordability. And you will have image about what you should do in this business and not blind like if you choose a business just because blindly follow someone else.
 
The Pious Man and the Shopkeeper

There lived a pious man all by himself, who spent most of his time in praying, fasting and praising Allah. Almost all his waking hours were utilised in meditation and devotions. He was very happy with his spiritual progress. No wicked thoughts came to his mind and no evil temptations entered his heart.

One night, he dreamt a rather disturbing dream. He saw that a shopkeeper in the town was far superior to him in spirituality and that he must go to him to learn the basics of true spiritual life.

In the morning, the pious man went in search of the shopkeeper. He found him busy with his customers, selling goods and collecting money with a cheerful face. He sat there in a corner of the shop and watched the shopkeeper carefully. No signs of any spiritual life at all, he said to himself. His dream could not be true. But then he saw the shopkeeper disappear to pray his Salah. When he returned, he was busy dealing with money matters again.

The shopkeeper noticed the pious man sitting in the corner and asked: "As Salamu Alaikum, would you like something, brother?"

"Wa Alaikum As Salam. Oh! No! No!" said the pious man. "I don't want to buy anything, but I want to ask you a question." He then related his dream.

"Well, that is very simple to explain," said the shopkeeper, "but you will have to do something for me before I answer your question."

"I will do anything for you," replied the pious man.

"All right! Take this saucer; there is some mercury in it. Go to the other end of the street and come back fast within half an hour. If the mercury falls out of the saucer, you will hear nothing from me. There you go now."

The pious man took the saucer and started running. The mercury nearly wobbled out of the saucer. He saved it just in time, and slowed down. Then he remembered he had to return within half an hour, so he started walking at a fast pace. At long last he returned puffing and panting. "Here is your mercury, safe and sound," he told the shopkeeper. "Now tell me the true interpretation of my dream."

The shopkeeper looked at the pious man's weary condition and asked him: "Well, friend, how many times did you remember Allah while you were going from this end of the street to the other?"

"Remember Allah!" exclaimed the pious man. "I did not remember Him at all. I was so worried about the mercury in the saucer."

"But I do remember Him all the time," said the shopkeeper. "When I am doing my business, I am also carrying mercury in a saucer. I am fair, honest and kind to my customers. I never forget Allah Ta'ala in my dealings with other men."

"Men whom neither trade nor sale (business) diverts from the remembrance of Allaah (with heart and tongue) nor from performing As‑Salaah (Iqaamat‑as‑Salaah) nor from giving the Zakaah. They fear a Day when hearts and eyes will be overturned (out of the horror of the torment of the Day of Resurrection). That Allaah may reward them according to the best of their deeds, and add even more for them out of His Grace. And Allaah provides without measure to whom He wills" [Al Quran, Surah an-Noor 24:37-38]
 
Whoa the food industry is huge :O. Didn't know it would be this big.

Check out this infographic on the global islamic economy:

GIE_Summary_Lg-1.jpg
 
I found this in other thread, but i think it's better if I post it here.

Ridwaan Ravat said:
The Character of a Muslim Trader

• A trader should be polite and kind when undertaking any transaction.
• A trader should not lose his temper if a buyer does not wish to purchase an item.
• The buyer should be informed of goods wherein there are defects, flaws, or inaccuracies.
• Trade and business should not hamper the performance of Salaah, of the employee and employer.
Click to expand...

One thing that make your business will still exist is continuity which buyers still come and buy from you. This is why as trader you should be polite and kind when undertaking any transaction. Because politeness and kindness will make the buyer impressed and then, .... not only come again, but will also recommend your business to people around them.

And yes, when a buyer comes, he/she not always buy. But try to understand without urge the buyer to tell the reason. It will make the buyer feel forced to buy. Do not lose temper, always polite and always be kind. It will make the buyer remember you with positive view. And very possible, next time the buyer will come again.

Informing the flaw about your goods can make the buyer hesitate to buy. But this is still better than if the buyer feel cheated because you were not honest about the flaw of your goods. Also if the buyer still buy after you inform honestly, and then the buyer feel disappointed with that goods, the buyer would not blame you. Do not afraid the buyer will not buy if you are honest.

If you always remember Allah, then Allah will always remember you. If you always perform salah, In Shaa Allah, you will get easiness in your business.
 
Business is one of my favourite topics.

I really liked the tips given by Millionaire Muslima about how to choose your business idea. She said to think about the things that people come to you for advice / help with. This shows what you're good at. Use this as the idea for your business. This can be a service (giving personal advice, teaching people to cook) or a product (sellng baked goods, selling custom made clothes).

Whatever your business idea, you need a lot of resilience, patience, and willpower to run your business or it will drive you insane. Many people quit after a while due to lack of sales or financing. If you see that your business idea doesn't have the potential to succeed, don't be afraid to quit. Many first businesses turn out to be failures because the person is learning the ropes on how to start and run a business.

One important aspect of business is evolution. It's important to be flexible and adapt / evolve your business model with the environment / changing times. If your business can't adapt, close (or sell) and start something else.

Selling a running business is a good idea if you can't make the business as profitable but the business has potential. If a business is breaking even, don't just close it if you can't run it yourself. Sell it even for a small price or the cost of capital (equipment etc).
 
Each one is driven by the power of the internet and online payments. Very interesting!

11222403_486893541518806_8305339274983085492_n.png
 
"When we speak of Islamic Finance or Islamic Economic principles, it is generally assumed that these principles are emphasised by Muslim scholars only to satisfy the religious requirements of Muslims, or that they are meant only for Muslims to the exclusion of others. This is an incorrect assumption. Although Islam is represented by a set of beliefs without which it cannot yield it's spiritual fruits in full, the worldly benefits of its social, political and economic principles are not restricted to Muslims; they are meant for the common good of humanity at large."

[The Causes and Remedies of the Recent Financial Crisis from an Islamic Perspective - Justice Mufti Muhammad Taqi Usmani]
 
12088254_10208260755383121_1368379895226173642_n.jpg


“And whoever places his trust in Allah, He is sufficient for him.” (Surah At-Talaq: 3)”
 
An Ottoman era inscription (1314 AH/1896 CE) above a gate to the Grand Bazaar in Istanbul. The Arabic translates to "The earner [of Halal wealth] is loved by Allah".

12049697_872544999519881_3759051169543812080_n.jpg
 
I remember studying this hadith a few years ago though I never fully appreciated it:

“The honest, trustworthy merchant will be with the Prophets, the Siddiqeen (truthful ones) and the martyrs.” Jami' Tirmidhi

Years later, as I have delved into some business projects and opportunities to make money I have seen how easy it is to make money through unethical or questionable means (which may not be clear-cut haram).

Those who are into business full time probably know all the tricks of the trade and know how to employ certain tactics which may not be tantamount to lying but may be bending the truth or playing on another's emotions outside the norms of marketing.

So, if a person is able to be completely honest and transparent, he has been given glad tidings by the Prophet (peace and blessings of Allah be upon him) himself. A few pounds in this life is not worth risking such an honour. - Rafiq ibn Jubair
 
فرحان;2859329 said:
An Ottoman era inscription (1314 AH/1896 CE) above a gate to the Grand Bazaar in Istanbul. The Arabic translates to "The earner [of Halal wealth] is loved by Allah".

Click to expand...

doesn't jeeb mean answer or answers or answerable?
 
Push harder, try harder! The fruits of your hard work might just be waiting there if you stayed out a bit longer. Don't give up!

12116016_490970101111150_7920315905175456325_n.jpg
 

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