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

Goochland man arrested at RIC with gun


A Goochland County man was arrested at Richmond International Airport July 19 after Transportation Security Administration officers found a loaded semi-automatic handgun in the traveler’s carry-on bag.

A TSA officer detected the 9 mm caliber handgun inside the man’s carry-on bag as it entered the security checkpoint X-ray machine. The handgun was loaded with 12 bullets. > Read more.

Kansas man struck, killed while crossing West Broad Street

A 54-year-old Kansas man was struck and killed by a car while attempting to cross West Broad Street near Bethlehem Road in the Near West End at about 10:30 p.m., July 19.

Julius A. McBride of Overland Park, Kansas, was struck by a car traveling east on West Broad Street. > Read more.

Henrico Police warn citizens to ‘Take it, Lock it or Lose it’


Eastern parts of Henrico County have witnessed a recent increase in larceny from automobiles, so Henrico Police officials are spreading the word to encourage citizens to lock their vehicles.

Police are handing out and posting fliers and putting message boards in neighborhoods to educate residents.

There usually is a rise of larceny from automobiles during Christmas, spring and summer break, said Henrico Police Officer James Bupp. > Read more.

Glover to be inducted posthumously into Babe Ruth Hall of Fame


Late Brookland District Supervisor Dick Glover will be inducted into the Babe Ruth Southeast Region Hall of Fame during a ceremony Aug. 14 at RF&P Park at approximately 6:30 p.m., prior to a 14-and-under Babe Ruth World Series game. The Glen Allen Youth Athletic Association, which is hosting the World Series, made the announcement July 18. > Read more.

Rolls-Royce supplier lands in Henrico


A United Kingdom-based supplier for Rolls-Royce has established an office and manufacturing center at the Byrd Industrial Park in Eastern Henrico, the Greater Richmond Partnership announced July 18.

Erodex Ltd., a graphite products maker, recently signed a five-year agreement with Rolls-Royce to supply goods to the automotive company's Crosspointe campus in Prince George, Va. Erodex invested $2 million and hired four to quickly ramp up production for its client. > Read more.

Henrico Business Bulletin Board

July 2017
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Henrico Police Athletic League (PAL) will hold its eighth-annual awards banquet March 30 at Glen Allen H.S. The event, which begins at 6:30 p.m., is open to the public and will include recognition of individuals and organizations responsible for Henrico PAL’s 10 years of success in the community. Keynote speaker for the event is the new University of Richmond Spiders Head Football Coach Russ Huseman. National PAL Executive Director Joseph Persichini and former Henrico PAL and 2011 National PAL Youth of the Year winner Aubrey Temple are also scheduled to speak. For information about the event, contact Sgt. (Retired) Kenneth Ragland at .(JavaScript must be enabled to view this email address) or 878-1830. Full text

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