4 Business Strategies of a Multi-trillionaire who donated all his Money

4 Business Strategies of a Multi-trillionaire who donated all his Money

A Business magnet, the tycoon of Mecca (ABDUR REHMAN BIN AUF) who was known as a business sensation in six century AD.he started and set out his business by selling dried milk butter with just 2 dirhams(silver Currency of that Time). later moved to selling animals- Camels,Horses,sheep's,goats,expanded to agriculture products, started Import and export.

His Import and Export; 

Camels, goats, horses, sheep's, clothes, agriculture products, dry fruits from Saudi Arabia to Yemen and Syria and from these countries to Saudi Arabia.

His Wealth; 

When he died, he had approximately worth of 3.2 billion dinars(Gold Currency of that Time), if at a rates of US$42 per gram, is more than the US $ 528 billion. Along with dinars, he left 1000 horses,10,000 goats,1000 camels,12,000 sheep's, 4 Wives with each 80,000 dinars and vast area of land,6 to 8 dates garden etc.

His Business Strategies;  

1) Never deceive your Customers and develop trust; He said I never lie in my whole life and when I came in Business as well in business, never ever lie to the customer about your product and sold quality products, if his product had some deficiency he told that to his customers as well.

2) Minimized Business Risks;He never bought or sold on credit,never did Import and export on credit. In today's business 75% of import and export is on credit, there are huge business risks like bad debts, Fluctuation of currency and effect of Time value of Money on business as well.

3) Care of Time Or Time Management;He said,In business,I never keep animals for more then 3 days,once I bought 1000 camels and no customer showed up for 3 days, at end of 3^rd day one customer came and I sold all my camels on NO Profit and No Loss(Break even deal),he had wisdom so he started to remove halters for his-self by asking from the customer and sold them on 1 dirhams each, got profit of 1000 dirhams in halters.

4) Diversification; He started from little and expand large.one of his business success was diversification and profits reinvestment. 

Generosity In charity and Donation;   ABDUR REHMAN BIN AUF spend too much on Human welfare .he denoted generously in charity. spend and gave to poor for basic necessities-food, shelter, education, and for health..

He said that the best Investment is to invest in Humanity.