The Entrepreneur’s Corner

Patrick Henry said, “I have but one lamp by which my feet are guided, and that is the lamp of experience. I know of no way of judging of the future but by the past. A few years later, Einstein said, “Doing the same thing and expecting different results is insanity.”

These two bits of wisdom have guided me for decades. In the last few years, they have proved insufficient. Our world has changed. Cheap energy and currency exchange rates have allowed people on the other side of the world to effectively compete for our next door neighbor’s business.

Businesspeople are constantly on the lookout for ways to systematize our processes so we can achieve maximum efficiency, thereby lower our costs of operation to either offer our services at lower rates or better yet, increase our margins.

We determine our processes by agreeing to sets of assumptions. Assumptions we agree to after thorough examination of our competencies and market opportunities.

Once we establish these efficient processes we loathe changing them. It’s at this point that our agreed upon assumptions become “givens”. They become our culture. They become “the way we do things around here.”

Once solidified into the concrete of unconscious habit, we no longer regularly check to see if our assumptions are still valid. We all know the old adage that when we assume we make an ass of you and me. This truism relates to the unstated assumption. The conscious, shared assumption on the other hand is a powerful tool.

So, if you’re doing what you’ve always done and not getting the results you’ve gotten in the past, let me encourage you to reexamine your assumptions.

Bring then out in the open and ask yourself,

1. “What’s our business?”

2. “What do we do?”

3. “Who are our customers?”

4. “Do these people give us money?”

5. “For what?’

6. “Why?”

7. “What do they value?”

8. “Are we delivering value they want?”

I’ve a bunch more questions, but having your team candidly revisit the assumptions upon which you’ve based your business to see if they’re still relevant is a great way to come to grips with your current reality. Because in today’s business climate the definition of insanity may be doing the same thing and expecting the same results.

Gayle Turner, a member of Henrico Business Leaders, can be reached at .(JavaScript must be enabled to view this email address).
Bail Bonds Chesterfield VA

‘It’s such a blessing’


On Independence Day, a Brazilian-born Henrico resident took the Naturalization Oath of Allegiance on the steps of the Virginia Historical Society and felt peace finally settle around her.

Jeanette Hamlett’s journey to U.S. citizenship is a story of faith and love, which she told with her husband, John Hamlett, by her side. > Read more.

Preschoolers give pillows to families in need


A group of preschoolers from Chesterbrook Academy Preschool donated 56 pillows to local families in need at the Housing Families First shelter. The shelter is always in need of pillows and linens as, since families take the donated ones with them to their new homes.

Housing Families First provides shelter and support for homeless families and assist them in finding a permanent housing solution. The shelter serves people year-round, said Terri Iguina, operations and volunteer manager at Housing Families First. > Read more.

Dairy Queen’s Blizzard sales July 27 to benefit Children’s Hospital of Richmond


Dairy Queen’s 13th Annual Miracle Treat Day – Thursday, July 27 – will raise fund to benefit sick and injured children being treated at Children's Miracle Network hospitals throughout the United States. Locally, $1 or more from every Blizzard Treat sold at participating locations will be donated to the Children's Hospital of Richmond at VCU. Last year, the event raised more than $14,400 for the hospital. > Read more.

Crime Stoppers’ Crime of the Week: July 24, 2017


Crime Stoppers needs your help to find the person who struck a pedestrian in the City of Richmond.

On July 21 at 12:52 a.m., a woman was crossing the street at Forest Hill and Sheila Lane when she was struck by a dark colored four-door sedan that was traveling eastbound on Forest Hill. She was transported by ambulance to Chippenham Hospital for minor injuries and released. > Read more.

Henrico Police locate missing man

Henrico Police have located a missing 46-year-old Henrico man.

Police had reported Kevin William Cannelli missing this weekend, after he was last seen July 18. He was located safe in the Richmond area July 24. > Read more.

Henrico Business Bulletin Board

July 2017
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