5 Main Reasons For The Success Of Any Business

When the companions of the Prophet, may God bless him and grant him peace, migrated to Medina at the beginning of the call to Islam, the number of Muslims was very small and they were weak. They migrated and left their homes, money, and trade behind them because of the harm they suffered from the polytheists at that time, and they headed to the city of Yathrib, which is 400 kilometers away from Mecca.

When they arrived in Yathrib, which the Prophet changed its name to Medina, the city was a wonderful social mixture that included the Aws and Khazraj tribes and tribes of Jews. The Prophet, may God’s prayers and peace be upon him, made a reconciliation between the Aws and Khazraj, who were in constant rivalries and who later formed what is called the Ansar who They supported the Prophet in his message and supported him with their money and their lives.

The Prophet also did another wonderful job, which was to bring brotherhood between the immigrants who came with him and the Ansar, as each man from the Ansar divided his money, his home, and what he owned with a man from the immigrants.

But there was a man from among the immigrants who refused this with all tact and kindness and thanked the Ansari man for his generosity and instead asked Al-Ansari to show him the location of the market. This man was the great companion (Othman bin Affan), may God be pleased with him and please him.

Othman had a wonderful strategy through which he started his business from scratch and with almost no money. His strategy was when he was asked about the secret of his wealth that he had amassed, and he did not bring with him his money that he had left in Mecca like the rest of the immigrants, which was that he answered (I fix  and developing,I did not disdain profit , I don't buy an old product  and make the head into two heads) 5 main reasons for the prosperity of the trade of this immigrant who started from scratch again.

I fix and develop

He said: I used to deal with my business, track down my mistakes, and fix them on time. He did not make it a matter of chance and luck. He saw the gaps in his work and corrected them as soon as possible.

Every business at its beginning is like an infant who needs constant care and attention. Paying attention to the mistakes committed from the beginning is the first preventive solution for any business so that these mistakes do not worsen and become difficult to repair after that, or rather the cost of repair increases even more. These mistakes are like a ball. Snow that rolls down mountain slopes and becomes unstoppable over time.

Yes, it is time, the time that was wasted in not fixing the problems of the business from its very beginnings. This time is enough to kill your project in its infancy and lose your business, which could have flourished had it not been for laziness or ignorance in tracking the course of the business and analyzing mistakes.

The other part of the first reason for the success of the business is to develop, and the meaning of developed is that while he was tracking and analyzing his business, he was at the same time investing what he earned from this business in developing his business, and that takes us to a very important reason, which is the constant development of the project and keeping up with what is new in the commercial arena. New arts and tricks that can be used to develop and modernize businesses, and among those arts that must be paid attention to is effective marketing that targets the right category of customers.

I do not disdain profit

When you run a business, you will face market fluctuations and economic crises, from which you are not immune because you are part of that market. Here (Othman bin Affan) proposes a strong permanent strategy to keep pace with market fluctuations, which is that no matter how small the profit is, he sells.

He does not force anyone to buy a specific quantity. He sells the quantity that the buyer wants without greed on his part, and this helps him in constantly renewing his goods and not accumulating and storing them in the hope of increasing profit. Storing and accumulating in the hope of increasing profit is in itself a risk whose price may rise. This is true, but it is It may also decrease

You don't want to sell your goods at a loss, do you? So this is a winning strategy that guarantees you always a profit, even if it is small.

I don't buy an old product  

This is another strategy to know the market requirements and what products are profitable and in demand at the present time. You do not throw your money randomly, waiting for abundant profits just because you bought a product at a price and want to sell it at a slightly higher price for profit.

You know exactly what customers want. You first study the market and its needs. Do not buy an old product whose time has expired and been replaced by something more useful. You must always keep pace with the market, and this is closely related to what we said previously about not storing products in the hope of increasing profits.

Make the head two heads

Making your capital in one product or source of income is a very big risk because with all those precautions, something could happen that is outside of your plans. Therefore, the great companion advises you not to make your capital a single capital, that is, capital, but make your capital in at least two things.

It is a well-known strategy and is applied by wealthy people, past and present, because it is known that the worst number in the business world is the number (1).

There is a story about the famous billionaire (Elon Musk), where he faced a difficult choice after the global financial crisis: to keep the money and lose his companies and collapse, or spend on one and leave the other to face its fate, but he decided on a brave decision, which was to spend on both of them, and in fact, the two companies succeeded in escaping the specter of bankruptcy.

This is a vivid example that always confirms the two-headed theory in business.

The world of business is a large sea of information, and when you engage in business, you must use proven and effective strategies that are like the ship you are sailing on this vast sea and that lead you clearly to your goal.