I always talk about long-term. Long-term wealth making. Compounding. Doing things that not only generate income and revenue but also build assets. <\/p>\n\n\n\n
I have been guilty as well as proud of working on short-term opportunities with really great returns. Without those, I couldn’t have been where I am. But to go forward from where I am, I know long-term opportunities are the way to go. <\/p>\n\n\n\n
I got a much needed reminder with regards to the e-commerce business but from the most unexpected of places. During Ramadan, I’ve continued to play Hamds and Naats on YouTube in the background while I work. As algorithm continued to play more and more of them it took me to an unexpected video by Junaid Jamshed where he explained a very important business concept. The concept of transparent as well as consumer friendly business ethics and policies. He quoted the following examples<\/p>\n\n\n\n
The smallest stores in the world decline returns and refunds. The smallest stores in the world sell counterfeit or low quality products. On e-commerce, they can sometimes take advantage of the anonymity and can continue to pop up again and again with new names and of course amass wealth. They don’t stay so small. <\/p>\n\n\n\n
But they don’t become Walmart either. Because to become a trillion dollar company like Amazon, or another large retailer like Walmart or Target, you have to adhere to certain ethics and be more consumer friendly. If you’re in for the short haul, a bad customer experience or even scamming them out of money could be a great choice but if you’re in for the long haul, a good customer experience is your only bet of ever making it. <\/p>\n","protected":false},"excerpt":{"rendered":"