Theory:

Sindbad's first voyage deals with four aspects. The first aspect speaks of Sindbad's transformation from rich to poor. The second aspect focuses on Sindbad's sea voyage and the adventure with water animal. The third aspect talks about his transformation from a poor to a rich man. The fourth aspect deals with Sindbad's storytelling character.
 
Transformation from rich to poor:

Sindbad belonged to a wealthy family, and his father was a rich merchant. Sindbad led a luxurious life with his father's money. After his father's death, Sindbad spent all his wealth unnecessarily. His youth did not allow him to think about the value of money. Due to his immaturity, Sindbad lost all the wealth and became poor. It shows how Sindbad transformed from rich to poor.
 
Adventures on sea:
 
Sindbad felt bad after losing everything he owned and decided to sail the Gulf of Persia to sell his goods. On the way, Sindbad and his crew members saw a beautiful green island. They felt very hungry and decided to cook food. While lighting a fire, the crew members and Sindbad noticed that the ground was trembling. Sindbad and his crew realised that it was not an island; it was the back of a giant water animal (Whale). To save their lives, they jumped into the sea. The captain started the ship leaving Sindbad and a few of the crew members behind. With luck and good fortune, Sindbad found a piece of wood and float to the nearby shore.
 
Transformation from poor to rich:

Sindbad reached the strange island like a poor man. He had nothing to eat. His limbs were too tired due to the continuous struggle in the water. In the strange land, Sindbad met a man. The sailor poured out his misfortunes to the man. On hearing his story, the man felt pity, and he took him inside the cave. There, he met a few men who were the slaves of the king. After seeing Sindbad, they served him good food and water. Later on, the slaves took him to King Mihrjan. Sindbad narrated his story to him. The king understood the sailor's situation and appointed him as an officer. From that day onwards, the sailor's life started to change. He eventually earned a lot of money from the port and returned to his hometown as a wealthy man.
 
Storytelling character:

Sindbad, the sailor, is a good storyteller, and he narrated his first voyage to a poor porter named Sindbad. The sailor's style of conveying the story attracted the porter. The porter was listening to the story with enthusiasm. The sailor's story gave him a kind of hope and delight. Through his story, the sailor conveyed that luck and good fortune played a vital role in his life.