Explaining Some Misconceptions About Business: With Tips from Shalom Lamm

In the world of business, there can be many misconceptions that occur. One of those misconceptions is that entrepreneurs have more time than those who work at regulatory corporations. People tend to assume that because someone works for themselves, that they only have to work here and there for short periods to make the same income that someone with a 40-hour work week earns. Although Shalom Lamm, CEO of Operation Benjamin, advises that there are no limits except the ones you present yourself with, it is very difficult to be an entrepreneur that does not have to work on a consistent basis. In fact, a larger portion of entrepreneurs work more than those who work standard jobs and more often than not, make less. Especially when they are in the beginning stages of their entrepreneurial journey. Many entrepreneurs run their businesses on their own, which means that everything the business does, creates and promotes is done by one individual. This can take an extremely large amount of time. Even with a few people working, the time spent planning, creating and promoting can be large.

Another common misconception within business is that planning is a waste of time. Of course, planning takes a bulk of time to create and complete. However, it is one of the most beneficial parts of business. Without a clearly defined plan of action, many of the corporations we know and love today would not exist. Knowing your goals, how you wish to achieve those goals and step by step actions to do so can give your company smoother growth. Planning can be tedious work when one is not one-hundred percent sure of which direction they wish to go into. However, creating a plan can help focus on the goals that are at the forefront of the business owner’s mind. Corporate companies or entrepreneurs can create short- and long-term plans, operational plans, financial plans and even promotional plans.

Of course, another misconception would be that one can perfectly balance work and home without fail on a consistent basis. Shalom Lamm suggests to always do your best to make time for your family and treat your team like family. There is no defined ‘perfect’ balance between work and home life. What could be perfect for you may not be perfect for your co-workers. This is the reason that this is considered a misconception. Although there are some who are able to balance their employment with their home life pretty well, there is always something that could be better. Individuals must pay attention to their emotions, reprioritize here and there, and may have to consider alternatives to the way they do things on a consistent basis to make their life fluidly move with their work and home. There are some who work four days a week and spend the additional three focused on their families. Others work 8 hours a day and spend evenings and weekends with their families. Work life balance depends on what the individual wants and needs.