10 Years Of Business Advice In 13 Minutes | From A Muslim CEO

Summary

The speaker shares their journey from leaving a £70,000 a year recruitment job to founding a successful company from their living room at age 25. Within six months, they were making £20,000 a month and continued to expand, eventually starting multiple companies. Key lessons include the importance of having a side hustle for financial freedom, hiring employees to grow the business, and maintaining humility. They emphasize taking action, focusing on long-term goals, and giving back to society through charity and creating opportunities for others.

Takeaways

• 🚀 Transitioned from a £70,000/year recruitment job to starting a successful company from his living room at age 25.
• 💸 Grew his company to make £20,000/month within six months and now works with international clients and major companies.
• 🏢 Started multiple companies, all making over £10,000/month.
• 🧠 Key lesson: Promotions and pay rises at jobs don’t lead to financial freedom; starting a side hustle or business is essential.
• ⚠️ Mistake: Initially aimed to make enough money to avoid working a job, but realized the importance of a bigger vision.
• 💡 Mindset shift: Focus on making money to benefit others, creating opportunities and impacting society positively.
• 🙏 Importance of humility and charity in business, emphasizing that money can easily be lost without these values.
• 👥 Investing in hiring early on, despite limited funds, proved crucial to growing his business.
• 📈 Sticking to one business idea for a long term leads to mastery and success.
• 🎯 Taking immediate action and committing to the business idea is essential for success, rather than overthinking and delaying.

Q & A

What prompted the speaker to leave their £70,000 a year job?

The speaker felt that despite promotions and hard work, their salary increases did not significantly impact their bank balance. They realized that true financial freedom required starting their own business.

How much money was the speaker making per month after six months of starting their own company?

After six months, the speaker was making £20,000 a month.

What was the initial goal of the speaker when starting their own company?

The initial goal was to make enough money so that they wouldn't have to work a job again.

What is the second important lesson the speaker learned about financial freedom?

The second important lesson is that financial freedom often requires having a side hustle or a business, as promotions and pay raises in a job typically aren't enough.

How did the speaker's mindset shift contribute to their business success?

The speaker shifted their mindset from making money just for themselves to making money for the masses and creating opportunities for others. This broader vision helped drive greater business success.

What role does humility play in maintaining business success, according to the speaker?

Humility is crucial because it keeps one grounded and open to continuous learning and adaptation. Without humility, success can be fleeting, as complacency can lead to a decline.

When did the speaker decide to hire their first employee, and what was the reasoning?

The speaker hired their first employee when they had about £7,000-8,000 in their bank account, believing that hiring would help them continue making money and grow the business by delegating tasks.

How does focusing on one business idea for a long time benefit entrepreneurs, according to the speaker?

Focusing on one business idea for a long time allows entrepreneurs to become highly skilled and successful in that area, as repeated efforts and perseverance lead to mastery and significant growth.

What is the main difference between the speaker and those who haven't started their businesses?

The main difference is that the speaker takes action and commits to starting and running their businesses, while many others hesitate and fail to take the necessary steps.

What additional opportunities and ventures has the speaker pursued after the success of their first business?

After the success of their first business, the speaker started additional businesses, including a gym clothing brand in the UAE, an office in Pakistan providing customer service and marketing services, and a platform offering educational courses.

What advice does the speaker give to those who want to start a business but are hesitant due to potential obstacles?

The speaker advises taking action despite potential obstacles, as many of the issues feared rarely happen. Starting and learning from experience is crucial to achieving business success.