In your own professional circles, there is likely a myriad of things that are discussed. Tactics to accomplish goals, how to further enhance and develop a business, or how to scale vertically. While it is critical to devise such plans, have we ever thought about the opposite- the actions and strategies that one should purposefully elude?
Before we started working towards our goals, our “dos,” we established a foundation that is built on unyielding principles. These principles defined our boundaries; our foundational business rules. In a world whose focus narrows down towards expansion and relentless growth, sticking to these boundaries enabled us to preserve our core values.
Business expansion comes with the danger that we might detach ourselves from our core mission, but it is these very principles that serve as touchstones amidst evolving circumstances. The essential guide to those principles has evolved as the “never ever” outline. Outlining the core building blocks of this resolve enables us to navigate irrespective of conditions.
1️⃣ No Interest-Based Deals (Riba) 🚫💸
Why Riba is a No-Go
Business deals and consequences revolving around interest are taboo for us, therefore, demolishing concepts such as riba a major no-go.
Through an Islamic lens, riba speaks to charging a defined fee and the nature of transactions that occurs with any exchange—buying, selling, lending, and renting are all meritless under these circumstances. riba is paying too much, giving too much, or gleaning an unreasonable amount from transactions.
What led us to adopt this policy? The interest-based transactions conflict with our principles and beliefs.
This isn’t simply a business decision; it’s a question of ethics. As business people, we firmly hold that genuine wealth is not derived from taking advantage of others’ need.
It is created by constructing value and providing solutions that are ethical, real, and devoid of mere profit-based motivation.
Building Ethical Wealth
In our experience, this business approach allows us to fully embrace the growth without contradiction to our values.
This approach also improves our decision making concerning business activities and investing, ensuring that the business is sound while building a responsible and socially ethical business.
We have reduced large portions of riba, and that helps our associates and clients to reduce debt and increases the potential to foster sustained growth.
2️⃣ No Trading Businesses 🔄🚷
Why We Avoid Trading for Quick Gains
At the beginning of the year we had made it very clear we do not intend to become another trading business. The frenetic world of buying and selling at a mark-up entailed in trading was not part of our long term strategy. Instead, we steered clear off trading and all other forms of short term financial engineering, focusing on creating true, sustainable value instead.
Focusing on Long-Term Impact
High-volatility trading has unpredictably shifting risks as its goals are short-term and minimal. We, however, aim to build businesses and ventures that resolve meaningful issues which offer sustainable value. This way, we steer clear of appealing quick returns and maintain focus on enduring growth.
This offers us financial resilience as well as establishing a legacy beyond wealth accumulation—a legacy centered on lasting value.
3️⃣ Zero Haram Ventures 🙅♂️🛑
Our Commitment to Ethical Business Practices
This one goes alongside our first two rules: We try not to engage with anything outside our beliefs as they may involve unethical business practices or ventures that are considered haram (forbidden) in Islam.
As concerns interfaces with any service or product that forms the basis of our values, we seek to eliminate any forms of disputes opportunities hence aligned with our moral compass. This is aimed towards building systems and structures with sustainable and profitable businesses while also ensuring their purity devoid of any contradictions with our principles.
Aligning with Our Moral Compass
Whereas many businesses concentrate solely on profit, we hold the view that profits without a proper guiding principle as ethics and integrity are hollow claims. This is why we need to stick strictly to this rule in place to attain authenticity in operations as we rest assured that whatever we practice is 813.
4️⃣ Music-Free Content 🎶🚫
Why We Keep Our Content Professional
In the current digital era, there seems to be endless possibilities when it comes to content production. Every social media platform is filled with a myriad of videos, blogs, and posts that seek to catch one’s eye. However, our focus is on composing high quality intellectual free content which is not directed by music one can pause on when watching or playing the video, rather the video is based on proper informative content supporting the information one is appealing.
When we consider using background music with our tracks, we do not use it due to music detracting from the important content a customer may need. As a content creation company, we strive to create content with value, insights, and knowledge, uncluttered with needless distraction.
Creating Meaningful Content
As a Nucoro partner, we do not intend to entertain anyone; our intention is to inspire and inform audiences using useful and practical information. Background music is eliminated at Nucoro so none of our devoted listeners can be distracted from the core purpose of the content.
5️⃣ New Business? Ask First! 🤝📈
Transparency Among Founders
For any business, specifically a start-up, communication must be maintained at all necessary levels. A rule we have created is that founders include others before coming up with a new independent project. This order fosters healthy dialogue among business partners and founders.
Why This Matters
New ventures can bring forth creativity, but tensions if not handled correctly. In our case, each founder is kept in line and asked to seek approval to ask for new projects which helps to keep the unity in mission and vision.
6️⃣ Break a Promise? Step Back ✋📜
The Importance of Accountability
Accountability is the very foundation of our business. The moment any one of us breaks a promise, the consequence is simple: we lose our control. This system in place ensures that promises are treated with utmost regard and that we remain accountable within the system.
Why Accountability Is Key
In the world of business, promise breaking—simply described as failure to deliver on commitments made—shatters trust and breeds misalignment. Bringing attention to the fact that promises made must be kept greatly enhances our commitment to the resolution made. This system keeps focus on integrity and responsibility in all aspects of business and also ensures that the values that strengthen the business are upheld.
7️⃣ Respect and Transparency in Finances 💬💰
Clear and Honest Communication
Finances are the life support system of any business and we have made it a point not to compromise on our financial dealings. We trust every founder to honor the views of other founders and everything regarding finance is them and agreed upon by everyone.
Why This Matters
Having financially open books maintains trust between founders and team members. It guarantees that all individuals are aligned in terms of the company’s spending, investments, and financial planning. We keep the lines of communications clear and open so that the business functions without any hitches.
8️⃣ Nominee for Shares 👨👩👧
Planning for the Future
We have also planned what needs to be done in case of an unforeseen circumstance regarding any of the founders. In case a founder dies or is no longer able to function, we have made a decision about where their shares will be allocated.
This is about making certain the company will still be operating in the event something unexpected occurs. The focus is on business preservation and being proactive in order to fuel the company’s continuity and advancement.
9️⃣ No Outside Jobs 🚫💼
Commitment to the Business
In truth we have a simple rule—founders may not have outside employment aside from roles which responsibility includes acquiring knowledge relevant for the company. Any income resulting from outside employment will be shared and distributed equally among all founders.
This rule ensures that all founders are fully devoted to the business and are not working against the strategic focus of the company. The rule further strengthens the commitment every founder has towards the business venture.
Why These Rules Matter: Building a Strong Foundation
These undoubted rules help us as a business in multiple ways and they make sure the core guidelines which bring us together remain intact. These are rules which enable us to define clearly what we stand for, what are the values we bring and how we want to tackle challenges and yet stay anchored to what is most important.
The idea of defining what we will never do, has helped us in strengthening the principle of alignment and focus from all the guarantees life puts on the table.
