Literature · Religion

Book Review: Billion Dollar Muslim

billion dollar muslim This is one book that I was eager to get my hands on because of my sheer interest in entrepreneurship. Merging Islam with entrepreneurship is an interesting move but not a new one. When our Prophet Muhammad ﷺ migrated from Makkah to Madinah, out of the first things that He ﷺ did was to build a marketplace for Muslims and set new laws and practices based on morals for trade transactions, financial accountability, customer services and third party dealings. Islam is a way of life that guides us not only in our personal lives but professional lives as well. The only thing we need is to take guidance from it and this is what the author of this book, Mr. Khuram Malik has done quite eloquently.

This book is appealing to the entrepreneurs in many ways as it not only inspires them spiritually but also gives them practical examples of successes and failures in a very convincing manner.

The author also highlights that why Muslims are lagging behind in the business world and what measures they can adopt to take their game to the next level.

 If you are a visionary person and you have high ambitions, then this book will give you the key drivers to not only change your own world but change the world altogether.

Let’s ponder upon some of the highlights of this book:

  • The book starts with criticizing the modern education system that most of us are already fed up of. We realize that the standard curriculums are no more fulfilling when it comes to their practical implications. It leads to a deadlock mindset which kills creativity and favor employment over entrepreneurship.
  • Building up a portfolio is important but doing it in a way that we do something for greater good and translate this vision into our business model is what the author tells us through various case studies in this book.
  • The third point that author puts emphasis on is my favorite one and which I also preach is that Allah has prescribed ihsan {perfection} in all the things we do. Islam encourages a high level of excellence and integrity in all areas of our lives. Whatever we do, it is our responsibility as Muslims to do our best, to give our best shot, to reach for the moon and no less. Only with this attitude we can achieve our long lost glory in this world.
  • Out of the other key points that author emphasized upon is to choose the best suited people to offer solutions to the society. Offer right person the right job, offer right audience the right product, and create a win-win situation. The author rightly mentions that the Prophet Muhammad ﷺ surrounded himself with men and women of highest integrity and the greatest allegiance to His purpose. When specific skill sets were needed, He ﷺ would assign people to tasks according to the their strengths and expertise and we have many examples of it in the Seerah of our beloved Prophet ﷺ
  • The author attributes success of an entrepreneur to his wholesome and complete relationship with three major entities; himself, with people around him and with our Creator, Allah Subhana hu wa Taala.

How do entrepreneurs create change and how do they adopt a framework of humanity and build startups on the virtues exemplified by Prophet ﷺ is well explained by the author.

The crux is that a Muslim entrepreneur must have following qualities to be consistent in his efforts to create an impact on the world, bring meaningful change in the society and achieve phenomenal growth and success. He must have;

  • Passion and drive
  • Gratitude and tenacity
  • Honesty and fairness
  • Positive mindset
  • Understand your own truth and listen to the inner voice of your heart
  • Understand the spiritual laws
  • Don’t procrastinate
  • Don’t give money more importance than it actually deserves
  • Value other people’s time
  • Treat your customers as guests and value them accordingly
  • Knowledge is not power, but what to do with this knowledge i.e. wisdom is in fact true power.

Lastly, the author makes an important point that whenever the Sahaba (r.a) opened up a new city, they always did two things, first they built a masjid, Second they established a marketplace.

In today’s modern system of trade and commerce, the businesses have high potential of spreading incredibly fast. So what can be the best way of spreading the message of Islam than showing it in our trade and our character as entrepreneurs. This is the reason why we need to wake up, recognize and encourage the entrepreneurial spirit in our youth. Practical change in society is only driven by doers and entrepreneurs are the doers.

I would like to conclude with this hadith of our Prophet Muhammad ﷺ that, ‘ whoever makes the dunya his most important matter, Allah will confound his affairs and make poverty appear before his eyes and he will not gain anything from the world except what has been decreed for him. Whoever makes the aakhirah his most important matter, Allah will settle his affairs and make him content in his heart and the dunya will come to him although he doesn’t want it.’ (Sahih Muslim)

Overall the book is effective and persuasive. The writing sparkles when it comes to relating entrepreneurship with Deen, hence I rate it 5 out of 5.

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P.S. The book is available for purchase at The ilm Lounge

 

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