These days, most companies ignore a vital concept that can translate to success and impact barakah. These companies focus on profits over everything. As per findings, businesses founded on principles of trust, integrity, and social responsibility outperform other businesses. These values are what are found in a barakah business.
It was found that 80% of consumers are willing to pay more money for ethical products. So, are you missing out on something crucial?
What is Barakah Business?
A “barakah business” focuses on more than just making profits. It aims to create lasting value that benefits both the business and society. It’s about running a business ethically, with a sense of responsibility towards employees, customers, and the community.
1) Aligning Your Business Practices with Ethical Practices
Every barakah business is built on the values of ethics-integrity and principles. Studies suggest that a company that adopted a set of ethical policies and was considered generous philanthropists gained superior growth rates and customer satisfaction as compared to companies that were not seen as ethical. Ethical business practices and transparency are valued by customers and clients, irrespective of whether it relates to products or business processes. Ethical policies enhance trust, which is required for long-term success.
2) Investing in People, Not Profits
A barakah business cares about its own and their own people. Workers are not assets—they’re growth partners. Providing fair compensation, investing in employee development, and creating a work environment that promotes well-being builds loyalty. A Gallup survey found that companies with engaged workers are 21% more profitable. Valuing people before profits creates a culture where the company and employees both thrive.
3) Practicing Social Responsibility
Incorporating social responsibility into your model is the primary way to achieve a barakah business. It may not be philanthropy, but doing something in the communities you serve. Consumer surveys have shown a majority of consumers would want to purchase from businesses that contribute to social causes. By sustainability, community involvement, or ethical practices, showing that you care about something can attract customers and inspire blessings to your business.
4) Avoiding Greed and Unethical Practices
A barakah business avoids shortcuts and unethical practices. Profit desire is natural, but when profits are put over principles, it can lead to loss in the long run. It has been researched that businesses motivated by profit alone burn out, lose their reputation, and face customers’ distrust. To achieve barakah, you must balance your financial goals with ethical practices that provide benefits to all stakeholders.
Conclusion
Building a barakah business isn’t some pie-in-the-sky idea; it’s a practical and powerful way to long-term success. By doing business with integrity, investing in people, being socially responsible, and not being greedy, you can build a business that prospers—financially and spiritually. The blessings of a barakah business are shared by everyone connected to the business: the employees, the customers, and the community at large. If you want your business to grow in a meaningful way, start by placing barakah at the core of everything that you do.
