Starting a Halal Online Business

Introduction

• Focus: Possibilities to start a Halal online business as a beginner.
• Criteria for business idea:
  • Easy to start
  • Low upfront investment
  • Accessible alongside current job or studies
  • Profitable and scalable
  • 100% Halal

Importance of Halal in Business

• Personal journey: Always avoided Haram industries.
• Examples of Haram industries: Alcohol, gambling, adult industry, interest-based businesses, music.
• Ethical business as a Muslim:
  • Honesty, reliability, and trustworthiness are crucial.
  • Prophet Muhammad (sallallahu alaihi wasallam) emphasized fair transactions.

Motivations for Starting a Business

• Reflect on personal motivations.
• Early materialistic goals often lead to dissatisfaction.
  • Quote from Steve Jobs: Inner happiness is not found in materialism.
• Aim for meaningful purposes:
  • Support family
  • Personal growth
  • Contribute to society

Entrepreneurial Perspective

• Everything around us comes from entrepreneurs.
• Money is everywhere, but requires hard work, discipline, and consistency.
• Entrepreneurship as a learning experience:
  • Challenges in human interaction, sales, mindset, etc.

Business Models Reviewed

1. E-commerce

• Easy to start?: Yes and no. Shopify makes it easy to set up, but finding products is challenging.
• Costs: Requires significant investment in hosting, products, and marketing.
• Accessibility: Competitive market; requires market understanding.
• Time: Quick to launch but time-consuming to scale.
• Profitability: Average profit margins of 20-30%.
• Personal Experience: Launched e-commerce brand "Vittap"; it was intense and required substantial investment.
• Conclusion: Not ideal for beginners without commitment.

2. Online Coaching and Consulting

• Easy to start?: No, requires professional background and expertise.
• Costs: Zero money required to start.
• Accessibility: Not accessible for beginners; requires years of experience.
• Profitability: High profit margins (close to 100%).
• Personal Experience: No personal experience, but many in my network are in this space.
• Conclusion: Not the best starter option due to experience requirements.

3. Affiliate Marketing

• Easy to start?: Yes, can set up accounts quickly.
• Costs: Zero startup costs.
• Accessibility: Highly competitive; generating clicks is challenging.
• Time: Building an audience takes considerable time.
• Profitability: Low commission per sale; requires high volume for income.
• Personal Experience: Limited success with small affiliate websites; sold most to focus on other ventures.
• Conclusion: Interesting but not a long-term business model.

4. YouTube Automation

• Easy to start?: Depends on video editing skills; easier with a team.
• Costs: Varies based on self-sufficiency.
• Accessibility: Open to everyone but requires quality content to stand out.
• Time: Long time to build an audience; monetization thresholds are high.
• Profitability: Low earnings per view; need millions of views for income.
• Personal Experience: Started a channel for fun; currently not profitable.
• Conclusion: Interesting, but time-consuming with low returns.

5. Freelancing

• Easy to start?: Yes, can start from home with learned skills.
• Costs: Minimal; relies on free resources for learning.
• Accessibility: Very accessible, suitable for beginners.
• Time: Quick to find clients on platforms like Upwork.
• Profitability: High profit margins; potential to increase rates as skills improve.
• Personal Experience: Started freelancing at age 16; gained valuable skills and experiences.
• Conclusion: Best option for beginners; low risk and scalable potential.

Final Thoughts

• Hard work, discipline, and consistency are essential for success in any business model.
• Focus on one idea and commit long-term for the best chance of success.
• Encouragement to explore freelancing as a first step in entrepreneurship.