Best Business Strategies to Live By

Shalom Lamm, the real estate mogul and CEO of Operation Benjamin has always conducted his business by a number of ethical business strategies. Lamm, like many top-notch businessmen, finds that without business strategies and business ethics to guide them, a businessman or businesswoman is liable to go off course.

 #1.  Don’t Try to Bypass the Rules

You don’t see Warren Buffet trying to bypass the rules of business and there are many others that think being a straight shooter is their number one asset.

In general, it seems that the number 1 reason those in business seem to bypass the rules is that they believe there is a once in a lifetime opportunity available to them if they will just bend a few rules here and there, while businessmen like Warren Buffet are in it for the long haul.

This means they have a fundamental belief that good opportunities are always present if you work hard enough to uncover them. People like Jeff Skilling seem to believe that the brass ring only comes along periodically and if they don’t grab it, others will.

#2, Living Well Below Your Means

Shalom Lamm believes that another important attribute seems to be living well below your means. Warren Buffet is not only one of the richest men in the world, (most studies rate him as the 6th richest man in the world, but one of the cheapest. He still lives in the same 5 story house he purchased for around $32,000 in 1958.

In Fact, a CNBC Article in 2017 said he almost never spends more than $3.17 on breakfast, preferring to eat at McDonald’s.

He once had a vanity plate on his Lincoln Town Car that Says Thrifty.

It is also reported that Jim C. Walton, who inherited $16 billion dollars from his father who founded Walmart, drives an old Dodge Dakota when he could probably afford to pretty much buy up North Dakota.

J. Paul Getty had a payphone in his guest mansion so that he would never be billed for his guest telephone calls. So wearing solid gold Rolexes and driving exotic Ferraris is not always appreciated by many businessmen.

#3. Total Honesty

Those who make a lot of money don’t tend to inflate themselves by telling lies. Consider former President Donald Trump and his taxes. Every President since Richard Nixon has publicly released their tax returns outside of Trump. Not only has Trump not released his tax returns to this day, but while he claims to be a billionaire, many claim his actual Fortune may be as little as $700 million. Still, a sizable fortune, post-presidency, many banks have ceased doing business with Trump. The point is that the best businessmen have a reputation for doing exactly what they say they will. Honesty goes a long way in business.

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