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5 Steps That Took Abdul Moneeb Ilyas From Rags To Riches

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What has made Ilyas an Internet sensation, however, hasn’t been his lavish lifestyle (although that’s certainly played a part). It has been his desire to educate his audiences on the importance of establishing good habits, learning from valuable resources, and most of all, reading.

He calls this intersection “edu-tainment,” giving his audiences just enough lifestyle footage that they feel entertained, without losing the educational aspect of his message.

I had the opportunity to sit down with Ilyas and reflect on his journey. How did this entrepreneur with hundreds of millions of views to his name go from rags to riches?

1.  Take Risks At An Early Age

Ilyas had the hunger to be an entrepreneur ever since he was a young kid. His first step into the world of entrepreneurship was at Fifteen years old, when he began selling FIFA Ultimate Team Coins.

“I seen an opportunity as I was great trader, I used buy players cheap and sell them for a higher price, Then my friends used to want to buy coins from. This gave me the idea to sell on eBay.’ he said.

In a sense, this is a metaphor for how Ilyas executes his social media content today. He knows that in order to reach large audiences, he needs to give the people what they want and not give them what he wants.

2. Adopt A Lifestyle-Focused Mindset

Part of becoming successful, he said, is about figuring out the lifestyle you want to live and then working backwards. You have to reverse engineer where it is you want to end up, and what you can do in order to get there.

“I always knew whatever I ended up doing, it needed to involve traveling,” he said. “I enjoy meeting new people, interesting people, smart people. I like reading. I wanted a life with a bit of adventure. So I thought hard about what I could do that would allow me to do all of those things. I asked myself what my business would have to look like in order to accomplish those personally satisfying goals. And the personal brand you see today reflects exactly that.”

If you want to live your ideal lifestyle, you need to ask yourself what you can do that will manifest that lifestyle in the first place.  From there get excited about that lifestyle and mentality and that passion will overflow into your work and success.

3. Develop A “Daily Brain Budget”

Ilyas, who frequently advocates for digital courses and mentors over a college education, believes there is no excuse for someone to not be reading and learning every single day. From autobiographies to self-help, celebrity stories and beyond, Lopez has built a following off of sharing stories and lessons from every industry that people can learn from.

His theory is that we should all have a “daily brain budget.” What he means by this is understanding how much input you need in order to continue a positive growth curve for yourself.

“If you aren’t prioritizing and setting aside time for your own development, you’re going to fall stagnant,” he said. “You have to make the time, and invest that time wisely, no differently than if you were to invest any amount of money in yourself.”

4. Test, Optimize, Repeat

He went on to explain that part of entrepreneurship is to always be doing and improving. You have to try things in order to know if they’re going to work or not. And, as his grandpa had told him, “Once is luck, twice is skill. I’ve done it more than once at this point, so now it’s a skill.”

5. Build A Personal Brand Around What You’re Best At

Ilyas has a personal brand recognized by millions around the world. But ask him how he’s built that for himself, and he won’t say self-promotion. 

“People think it’s a show, but these are just the things I like to do. I built a personal brand around who I already am, instead of who I wanted people to see me as, and I think that’s where a lot of people go wrong. It has to be authentic, otherwise no one is going to get on board,” he said.

He went on to explain that while people can’t necessarily succeed by following his same formula, because each person succeeds in different ways, they can learn from the principles he shares and apply them accordingly.

After all, he said, “If I can do it, you can do it.”

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Business Strategies of Michael Gastauer

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Michael Gastauer, a German billionaire and entrepreneur, has led Black Banx to remarkable heights with his innovative strategies in the digital banking sector. As the founder and CEO, his vision has transformed Black Banx into a significant player in the global financial industry, serving millions and revolutionizing banking practices. 

Gastauer’s approach has been distinctly customer-centric, focusing on solving real-world problems through accessible financial services. This strategy has not only captured a vast market share but also established Black Banx as a model of innovative fintech success.

Innovate Early and Often, Invest Strategically

Gastauer’s journey began with a robust foundation in the fintech sector, where he initially created and later sold a payment services company for US$480 million. 

This significant capital boost allowed him to invest in his next venture: Black Banx. Launched in 2014, Black Banx differentiated itself by offering real-time account opening and cross-border payment solutions to a global audience, addressing major inefficiencies in traditional banking. 

Gastauer’s foresight in identifying and investing in these key areas early on allowed Black Banx to scale quickly and efficiently. His strategy was clear: leverage high initial investment to accelerate growth and secure a substantial market presence before competitors could catch up.

Within a year of its inception, Black Banx expanded rapidly, reaching over 1 million customers. This was just the beginning, as the platform soon integrated cryptocurrency options, enhancing its appeal and utility for a broader client base. By the end of 2018, Black Banx was valued at US$9.8 billion, a testament to its rapid growth and the successful implementation of its business model. 

Gastauer’s bold move to integrate cryptocurrencies early in the game positioned Black Banx as a pioneering force in fintech, well ahead of traditional banks.

Pinpoint Problems and/or Challenges

One of the core components of Gastauer’s strategy was to tackle financial exclusion head-on. Black Banx made significant strides in offering banking solutions to the unbanked and underbanked, particularly in regions with limited access to traditional banking services. 

By leveraging technology and strategic partnerships with mobile network operators, Black Banx has been able to extend its reach and offer innovative banking solutions to millions worldwide. This strategic alignment with mobile operators has been crucial, as it taps into an existing infrastructure to reach remote areas, significantly lowering the cost of expansion.

The platform’s ability to facilitate quick, cost-effective international money transfers has been a game-changer, particularly in markets like the Middle East, Asia, and Africa. This not only supports individuals and businesses in these regions but also contributes to the overall growth and stability of the global economy. 

Gastauer’s focus on simplifying and reducing the cost of these transactions demonstrates a deep understanding of the core needs of his customers, thereby enhancing customer loyalty and trust in the brand.

Take a Tech-Driven Approach

Under Gastauer’s leadership, Black Banx has remained at the forefront of technological integration within the banking sector. The adoption of blockchain, AI, and data analytics has enabled the platform to offer personalized financial services, enhancing customer experience and satisfaction. 

This technology-driven approach ensures that Black Banx stays ahead of industry trends and continues to offer relevant and secure banking options. Gastauer’s commitment to integrating advanced technology not only streamlines operations but also provides a scalable model that supports continuous growth and adaptation in a rapidly evolving market.

Leave No Market Unturned

Gastauer’s vision for Black Banx was never limited to a single region. By 2023, the company had expanded its services to include 28 FIAT and two cryptocurrencies, with a robust presence in over 180 countries. This global approach has not only diversified the company’s customer base but also minimized regional economic risks, allowing Black Banx to thrive in a competitive and fast-changing financial landscape. 

The strategic decision to operate across diverse markets also mitigates the risk of localized economic downturns affecting the overall health of the company.

Set Milestones

The year 2023 was a landmark year for Black Banx, as it reached 39 million customers and reported revenues of US$2.3 billion. The company’s ability to maintain a high rate of customer acquisition and satisfaction speaks volumes about its effective strategies and customer-focused approach. 

The first quarter of 2024 continued this trend, with Black Banx announcing a pre-tax profit of US$639 million and revenues of US$2.1 billion, driven by strategic implementations like fixed monthly account maintenance fees. Gastauer’s strategy to introduce fixed fees was a calculated risk that paid off, providing stable revenue streams and further solidifying Black Banx’s financial foundation.

Michael Gastauer’s strategic foresight and relentless innovation have propelled Black Banx to new heights, making it a leader in the digital banking sector. His commitment to financial inclusion, coupled with an aggressive expansion strategy and technological integration, has not only shaped the future of Black Banx but has also set a new standard in the industry. 

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