First of all, we need to remove the notion from our minds that wealth is bad. Islam teaches us to ask for bounties from Allah SWT. We are invited to seek sustenance from our creator.
Some of the prophets were extremely wealthy. Sulaiman ( AS) , Dawood (AS) , Yusuf (AS) Etc.
Contrary to the notion that Prophet Muhammad (PBUH) was poor. He was actually a Wealthy Entrepreneur before the revelations came to him.
He CHOSE to remain POOR. Read that sentence one more time. He CHOSE to remain poor.
At the end of this Life. He was the undisputed king of Saudi Arabia. He wrote letters to the King of the Roman and Persian Empires asking them to accept Islam. That’s not poor by any standards.
Just to give you an idea of Prophet Muhammad’s PBUH Richness. Let me quote you a hadees from Sahih Muslim
”’Truly, the Messenger of Allah (peace be upon him) reached the highest and most honorable level from among those who are generous; he used to be very lavish when he gave. An Arab expressed this when he went to the Messenger of Allah (peace be upon him) and saw a herd of sheep that filled a whole valley. Being avaricious of the Messenger of Allah’s generosity, he asked the Messenger of Allah (peace be upon him) to give him all [the sheep] that were in the valley. The Messenger of Allah (peace be upon him) gave them all to him. The man returned to his people with the good news, saying,My people, enter Islam, as Muhammed gives like one who does not fear poverty. related by Muslim ”’
He was poor by choice not by chance. Most people today are poor by chance. Because they refuse to seek the blessings of Allah Swt who is infinite. Ask Allah Swt for Infinite and see what happens.
It’s not the desire for wealth that corrupts the heart. It is the greed for wealth that corrupts it.
Another example is that of Saad ibn Abbi Waqqas (RA). It took 3 years to estimate all his wealth and distribute inheritance between his wives, children, and close relatives.
Yet another example is that of Uthman Ibn Affan (RA). He owned almost half of all business conducted in Muslim Lands during his time.
Here is one more Abdul Rahman Auf (RA) left worth $USD606 billion of gold when he left this world for a heavenly abode. Even today the richest person on earth has a net worth less than that of the companion of the Prophet Muhammad PBUH.
Abd Al-Rahman ibn ‘Awf (Radhiyallahu Anhu) began with only 4 Dinars in his pocket. 4.25 grams of gold, is worth around USD 150 today,
Today in North America. The Muslim population is growing. The new Masajids are being built. There is a need for Islamic schools, Health centers Etc.
Can you and I support these causes by being Poor?
What are the principles through which we can build halal wealth? Most of the excerpts for these principles are derived from multiple books. I suggest you get a copy of Muslim Entrepreneur. , Secrets of the millionaires Etc.
Here are the key points from these books.
Positive thinking for wealth
Think of Wealth as sustenance from Allah Swt. The same real estate deals, Stock market, Cryptos, and The NFTS are all from the bounties of our creator. For as long as we seek the halal from these sources from Allah and trust in his bestowing. He will keep us giving.
Remember the verse from Quran
” ASK ME AND I SHALL GIVE ”
“Asking is the beginning of receiving. I ask for all kinds of things. Make sure you don’t go to the ocean with a teaspoon. At least take a bucket so the kids won’t laugh at you.” A quote from Jim Rohn
Remember who you are asking for wealth !! He is Al-Ghani, Al- Wahab. He has abundant wealth that will never diminish.
So when you ask. Ask based on what he can give not based on what you can receive.
Have an Entrepreneur Mind.
Remember Prophet Muhammad (PBUH ) was himself a Businessman.
Besides Tijarah is a Sunnah. Don’t forget the fact that you get great Tax benefits to own a small business.
Read, Read and Read some more
Most entrepreneurs and Successful people have one thing in common. They read and they are constantly learning.
The first command to a Muslim is to read and acquire knowledge.
Surah Al Alaq – “Read !! Read in the name of your Lord who created ”
So start reading books and materials that are beneficial and here is a good start
- How to win friends and influence people.
- The Muslim Entreprenuer.
- The habits of highly successful people.
- The Magic of Thinking Big.
- Think and Grow Rich.
- The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs.
If you want more, Give more.
When Allah Swt starts giving you more. Start to share the wealth with the needy. The Fastest way to generate wealth is to start sharing the wealth. Pause your reading and read that sentence again.
“The Fastest way to generate wealth is to start sharing the wealth”
A friend came to me recently and said that he will start giving more money when He starts earning more, You see, the Laws of the universe do not work that way. You need to start giving from what you have to start increasing what you will gain. If you have 10 dollars Start giving 1 dollar to the poor.
Make it a point to take out some part of your earnings every month for the poor and the needy.
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Set Big Goals
We all can learn to be successful. Think The best time to plant a tree was 20 years ago, The next best time is now !!
“If you ever want to do anything great with your life, you must stop believing those who say you can’t. Can’t only comes from the mouths of those who never did. Believe those who say you can, the credible successes who already reached the mountaintop and experienced the vistas.” Set Big goals in everything you do including Stock trading and your current work or businesses.
Take Action
Do you have a great business idea? Do you want to learn new technology to get a better job? Do you want to grow your business ten folds?
All of these require action.
“Things may come to those who wait, but only the things left by those who hustle”
Don’t be stuck in analysis paralysis. Action cures fear, indecision, and postponement, on the other hand, fertilizes fear.
We intend to take action when the idea strikes us. We intend to do something when the emotion is high. But if we don’t translate that intention into action fairly soon, the urgency starts to diminish. A month from now the passion is cold. A year from now it can’t be found.
Quote from Jim Rohn
So take action. Set up a discipline when the emotions are high and the idea is strong, clear, and powerful.… You’ve got to take action; otherwise, the wisdom is wasted. The emotion soon passes unless you apply it to a disciplined activity. Discipline enables you to capture the emotion and wisdom and translate them into action. The key is to increase your motivation by quickly setting up the disciplines. By doing so, you’ve started a whole new life process.
Develop Critical Skills :
Remember Islam teaches us Humility. So ask for help from people who have already passed through this journey before. First and foremost ask for help from Allah Swt in everything you do. Even the Prophet Muhammad (PBUH) used to consult his companions on key matters.
So if you are stuck with your businesses or Job seek help from your fellow Brothers/Sisters.
You are what you think you are :
The body is what the body is fed. By the same token, the mind is what the mind is fed. Feed Positivity to the mind and expect positive outcomes back.
Remember the hadees from Sahih al-Bukhari 7405
“The Prophet (ﷺ) said, “Allah says: ‘I am just as My slave thinks I am, (i.e. I am able to do for him what he thinks I can do for him) and I am with him if He remembers Me. If he remembers Me in himself, I too, remember him in Myself; and if he remembers Me in a group of people, I remember him in a group that is better than they; and if he comes one span nearer to Me, I go one cubit nearer to him; and if he comes one cubit nearer to Me, I go a distance of two outstretched arms nearer to him; and if he comes to Me walking, I go to him running.’ “
Expect good things from our creator and good things will إن شاء الله happen.
Because big men do not laugh at big ideas. Have Big ideas. I recently came across an Afghani refugee who was trying his hands at a catering business. I asked him what his goal was he said ” Brother, In one year I am going to be ruling the DFW Catering market. I know I am capable of it ” Now that is optimism. Small people will always laugh at your ideas, Their job is to question you, Ask you if you are qualified, you have the means, finances, They live off the failures of others. They want you to fail so that they can rationalize why they did not try that business idea, Why they did not join that seminar, Whey they did not do what you are currently doing.
Small people will always laugh, Mock your ideas.
Remember: People who tell you it cannot be done almost always are all unsuccessful people, are strictly average or mediocre at best in terms of accomplishment. The opinions of these people can be poison. Learn to tune them out.
Big men will ask you “Can I be a part of this idea? ” Be a part of the Big men, try to as much as possible hang out with them.
Remember Prophet Muhammad (PBUH) himself was a very optimistic man. Most successful people in this world have been very optimistic people.
Make Goals
Making goals is one of the most understated habits which people do not utilize.
Make Small Goals for six months and make big goals for 5 years. Write them down on a piece of paper and hang them on the wall.
Look at them every day for self-motivation.
Be Discipled
“Motivation is what gets you started. Habit is what keeps you going.”
Make habits that will benefit you. It could be as small as reading 4 pages of a Stock trading book each day for the next 6 months.
It could be as small as taking 10,000 steps in a day no matter what. Habits lead to action. Here is a good quote about the power of Habits.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become your character.
And watch your character, for it becomes your destiny
