8 Distinctive Qualities of Successful Muslim Entrepreneurs
Those who consume interest cannot stand [on the Day of Resurrection] except as one who stands being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah. But whoever returns to [dealing in interest or usury] — those are the companions of the Fire; they will abide eternally therein. — Qur’an 2[Al-Baqarah]:275
Sometimes I ask myself; “What does it really take to become a successful Muslim Entrepreneur? I often end up looking into the lives of the earlier generation of Muslims and a few from the later generations. Being in business is a distinguished trait but not everyone can be involved in it. The fact is: entrepreneurial life is sweet. But the pains and troubles at inception can be frustrating as well. With significant breakthroughs in technology, the chores have been simplified, racking huge profits while saving you a lot on costs as well.
Most people who intend going into business often have a second thought. And this is beclouded by fears. The fear of loss, capital, failure, and so on. These fears most times withhold people from exploring the possibilities of winning big. Right now, release yourself of those thoughts and imagine how exciting it is to be a successful Muslim entrepreneur. Being a Muslim in business is an added advantage because there’s a modus operandi for you to thrive. You do want to know what exactly goes into that, right? Let’s examine…
- Fearlessness: This is bravery filled with courage. The Muslim entrepreneur is one who takes action irrespective of the situation. He relies solely on Allah for success while working relentlessly in the pursuit of his dreams. We all have fears but if we allow the fear of starting to overcome our courage of succeeding, then we’ve just succeeded in failing before starting. All you need is to take the brave step of starting and put your trust in Allah.
And whoever fears Allah, He will make for him of his matter ease— Qur’an 65[At-Talaq]:4
2. Legitimacy — Pure investment strategy: A Muslim entrepreneur is always conscious of what business venture to invest in. He considers the sanctuary of Allah first, not the profit margin involved. He tries to do business within the tenets of what is allowed in Islam and stays away from the forbidden money ventures. (S)he is not greedy, for greed misleads one not to care about the source of wealth. This principle purifies your wealth and makes it easier for its recognition as a source of earning Allah’s pleasure.
Abu Huraira reported: The Messenger of Allah, peace and blessings be upon him, said, “O people, Allah is pure and he accepts only what is pure. Verily, Allah has commanded the believers as he commanded his messengers. Allah said: O messengers, eat from good things and act righteously, for I know what you do (23:51). And Allah said: O you who believe, eat from good things We have provided for you,” (2:172). Then, the Prophet mentioned a man who traveled far, becoming disheveled and dusty and he raises his hands to the sky, saying, “O Lord! O Lord!” while his food is unlawful, his drink is unlawful, his clothing is unlawful, and he is nourished by the unlawful, so how can he be answered? — Sahih Muslim
3. Up and Doing: One trait that cuts across successful Muslim entrepreneurs is their ability to rise and grind in the early hours. They start their day submissively seeking Allah’s bounties by observing Fajr. For Allah’s Messenger SAW said that the early hour is blessed for this ummah. Successful Muslim Entrepreneurs aren’t lazy in their business approach, they do not only work hard but they work smart and pray as well.
It was narrated from Sakhr Al-Ghamidi that the Messenger of Allah (ﷺ) said: “O Allah, bless my nation in their early mornings (i.e., what they do early in the morning).” (Hasan)He said: “When he sent out a raiding party or an army, he would send them at the beginning of the day.” He said: (1) “Sakhr was a man engaged in trade, and he used to send his goods out at the beginning of the day, and his wealth grew and increased.”
4. Thankfulness: Gratitude is a fruit of great cultivation, only true servants of Allah realize this. Being grateful to Allah is key for most successful Muslim entrepreneurs. They show gratitude to Him for His blessings on what they have acquired and in turn Allah blesses them with more out of His bounties. And when people become ungrateful, they tend to lose it all within the twinkle of an eye.
And (remember) when your Lord proclaimed: “If you give thanks (by accepting Faith and worshiping none but Allah), I will give you more (of My Blessings), but if you are thankless (i.e. disbelievers), verily! My Punishment is indeed severe.”. — Qur’an 14[Ibrahim]:7
5. Capital and profit reinvestment: I’ve seen many successful Muslim entrepreneurs stressing this strategy more than enough. You do not raise your standard of living because you have increased income. The more you put into your business, the more returns you’d likely get out of it.
6. Diversified Ventures: A very good example we can learn from is Aliko Dangote — Africa’s richest man. He started small from the pantry and grocery products and scaled his business with time into having the largest cement factories across Africa and is currently building a refinery worth $17 billion USD which will empower about half a million employees when completed.
7. Spend in charity: Successful Muslim entrepreneurs aren’t greedy. They spend out of that which Allah has blessed them with; for those who are in need. It was said that when AbdurRahman bin Auf’s (Radhiallahu Anhu) caravan arrives from Sham, he would distribute everything in charity before the sun sets out. Charity is one secret that increases wealth as well.
8. Trustworthiness: This cannot be overemphasized. Globally, Muslims are well known to be honest people in trade and transactions. Not until recently have we seen a little change in tides. Allah’s Messenger (PBUH) won the heart of Khadijah through trust. So in order to be successful in your business, you must establish trust with your customers.
Abu Huraira (RA) said: The Messenger of Allah (PBUH) happened to pass by a heap of corn. He thrust his hand in it and his fingers felt wetness. He said to the owner of that heap of corn, “What is this?” He replied: “O Messenger of Allah! These have been drenched by rainfall.” He remarked, “Why did you not place it on top so that the people might see it? Whoever deceives is not of us.” — Sahih Muslim
This piece was originally written three years ago. While I was searching through the archives, I stumbled upon it and decided to tweak it a bit then share. I hope someone finds it beneficial in sha Allah…
PS : Success comes only by the will of Allah! If you find this piece beneficial, it’s by His Grace. It’s no scholarly work and we accept our mistakes. Suggestions are welcomed in making this effort better as well. You are free to share by any means for enlightenment purposes. Kindly give a “click-clap” to enable other readers on Medium to see this post. We ask Allah to keep us guided and steadfast upon the right path. We hope you’d read from us again next time in sha Allah!
Yaumul Juma’ 27th Sha’waal 1441 A.H. // Friday 19th June 2020.
