What Can We Learn From Prophet Muhammad ﷺ’s Success as An Entrepreneur?

The life of Prophet Muhammad ﷺ is a perfect example of leadership that blends spiritual values with worldly skills. Apart from being a messenger of Allah, he was also an accomplished entrepreneur. In the Islamic view, the values of entrepreneurship can be drawn from various aspects of the Prophet Muhammad ﷺ’s life, ranging from business strategies to ethics in trading. Here are some important aspects that illustrate the entrepreneurial values of his life, supported by proofs from the Quran and Hadith: 

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1. Starting Early and Having Mentors

Prophet Muhammad ﷺ was involved with trading activities since he was 12 years old when he first joined a business trip to Syam by his uncle Abu Talib. 

This habit of business travel was immortalised in Surah Quraysh: 

 لِاِيْلٰفِ قُرَيْشٍۙ 

Caused by the custom of the Quraysh, 

اٖلٰفِهِمْ رِحْلَةَ الشِّتَاۤءِ وَالصَّيْفِۚ 

(i.e.) their custom of traveling in winter and summer (so as to gain much profit), 

فَلْيَعْبُدُوْا رَبَّ هٰذَا الْبَيْتِۙ 

then let them worship the Lord of this house (the Kaaba) 

الَّذِيْٓ اَطْعَمَهُمْ مِّنْ جُوْعٍ ەۙ وَّاٰمَنَهُمْ مِّنْ خَوْفٍ ࣖ 

who had given them food to relieve their hunger and secure them from fear. 

From the story of the Prophet Muhammad ﷺ’s business journey, we understand that he has learned business since he was a teenager, and he had a mentor who guided him in his journey to learn business, especially trade, namely Abu Thalib. 

2. Business Ethics

Prophet Muhammad ﷺ taught his people to do business honestly, fairly, and transparently. He prohibited business practices that harm and disadvantage others, such as fraud, deception, and usury. The hadiths of Prophet Muhammad ﷺ also emphasize the importance of earning halal profits and maintaining integrity in every transaction. 

Some examples of business ethics taught by Prophet Muhammad ﷺ are:

a. The hadith that states: 

لا يَبِعِ الرَّجُلُ عَلَى بَيْعِ أَخِيهِ وَلاَ يَخْطُبْ عَلَى خِطْبَةِ أَخِيهِ إِلاَّ أَنْ يَأْذَنَ لَهُ 

“Let no one sell over his brother’s sale. Nor should one propose over his brother’s khutbah unless he has permission to do so.” (HR Muslim no. 1412) 

Here, it is clear that business ethics teach us not to take a business deal from someone who has already made a business deal with someone else. 

b. Hadith: 

الْبَيِّعَانِ بِالْخِيَارِ مَا لَمْ يَتَفَرَّقَا – أَوْ قَالَ حَتَّى يَتَفَرَّقَا – فَإِنْ صَدَقَا وَبَيَّنَا بُورِكَ لَهُمَا فِى بَيْعِهِمَا ، وَإِنْ كَتَمَا وَكَذَا مُحِقَتْ بَكَةُ بَيْعِهِمَا 

“The seller and the buyer each have the right of choice (khiyar) as long as they have not separated. If they are honest and straightforward with each other, then both will be blessed in the transaction. On the other hand, if they lie and conceal from each other, they will lose the blessing of the transaction” (Muttafaqun ‘alaih. HR Bukhari no. 2079 and Muslim no. 1532). 

In this hadith, it is clear that the business ethics that are put forward are honesty and clarity in business contracts, both of which are also the cause of blessings in business. Another thing that is also mentioned is the permissibility of khiyar as an opportunity for both parties to review the transaction. 

c. Hadith: 

رَحِمَ اللَّهُ رَجُلاً سَمْحًا إِذَا بَاعَ ، وَإِذَا اشْتَرَى ، وَإِذَا اقْتَضَى 

“May Allah have mercy on a person who is easy when selling, buying and claiming his rights.” (HR. Bukhari, no. 1970) 

This hadith explains another business ethic of the Prophet Muhammad ﷺ, which is to make concessions in transactions both in terms of price, tolerance of the quality of goods, and the period of payment or execution of obligations. 

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3.Increase Charity

One of the things that the Prophet Muhammad ﷺ instructed traders to do is to give a lot of charity, this is mentioned in the following hadith: 

يَا مَعْشَرَ التُّجَّارِ إِنَّ الْبَيْعَ يَحْضُرُهُ اللَّغْوُ وَالْحَلِفُ ، فَشُوبُوهُ بِالصَّدَقَةِ 

“O merchants, there are omissions and oaths in buying and selling, so purify them with sadaqah.” (HR. Tirmidhi, no. 1208, Abu Daud, no. 3326, Nasai, no. 3797, Ibn Majah, no. 2145. Declared saheeh by Al-Albany in Sahih Abu Daud) 

This hadith states that traders are strongly advised to increase their charity as an effort to cover up the sins they commit while trading such as perjury, neglecting shalat times, exaggerating when promoting, and so on. 

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Prophet Muhammad ﷺ started his life as a merchant, he has started his career journey as a businessman at a young age. He met his wife Khadijah Radhiyallahu anha through a relationship as a merchant. Even when he became a prophet, he was very interested in trade as evidenced by the many hadiths narrated from him regarding business ethics, the blessings of trade, and things that are prohibited in trade. Hopefully, we can follow the path of Prophet Muhammad ﷺ in trading. 

Wallahu a’lam 

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References

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