The Entrepreneur’s Corner
Questions for your business
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?’
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.
The threat of bad weather didn’t keep visitors away from Lewis Ginter Botanical Garden July 10 for the facility’s weekly Flowers After 5 event (which pairs music and food with a chance to stroll the garden) and its monthly Fidos After 5 (which allows dog owners to bring their pets with them to enjoy the evening). > Read more.
Thanks in part to a $10,000 gift from the Western Henrico Rotary Club, another bright pink Jeep modified to travel extremely rough terrain has been delivered to Midwives For Haiti so that more pregnant women in the quake-ravaged country will have access to prenatal care and a greater chance of surviving childbirth.
The funds were raised at the annual casino night held in February, club president Adam Cherry said. The Rotary Club also helped purchase the Virginia-based charity’s first pink jeep three years ago. > Read more.
Canoeing and kayaking enthusiasts soon will have a new access point to the Chickahominy River. VDOT, the James River Association and Henrico County Parks and Recreation are teaming up to establish a new site in Eastern Henrico.
The James River Association negotiated the deal with VDOT to procure official access to the area located just east of I-295 on North Airport Road in Sandston. The site includes a park-and-ride commuter lot bordering the Chickahominy River and has been an unofficial launch site used by paddlers for years. > Read more.
An eclectic array of events are taking place this weekend throughout the county. In the West End, we have the Richmond Wedding Expo, the Under the Stars Family Film Series and Henrico Theatre Company’s production of “Pump Boys and Dinettes.” In the eastern part of the county, we have a blood drive at the Eastern Henrico Recreation Center, Gallmeyer Farm’s annual Sweet Corn Festival and an origami workshop at Fairfield Library. For all our top picks this weekend, click here! > Read more.
Charlottesville's Bella’s Restaurant recently opened a location in Short Pump Village, at 11408 West Broad Street. The restaurant is owned by Valeria Biesnti, a native of Rome who arrived in the U.S. at age 21 and later became a U.S. citizen. With her restaurants, Bisenti has sought to create an ambiance that welcomes diners in a casual setting, like her favorites from her hometown. > Read more.
A Henrico native will appear on the third episode of the Travel Channel's new grilling competition series “American Grilled.”
The episode, filmed in Charlottesville, will premier July 16 at 9 p.m. and feature Glen Allen-native Rex Holmes, a patent lawyer who operates http://SavoryReviews.com a blo,g centered around tasty recipes and BBQ.
The show features hardcore grilling enthusiasts from across the country going head-to-head for a chance to compete for a $10,000 cash prize and bragging rights when they are crowned the ultimate “grill master.” > Read more.
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CalendarThe 2014 Summer Movie Express continues at Regal Virginia Center Stadium 20 and Regal Short Pump Stadium 14. The films this week are “The Croods” on July 29 and “Epic”… Full text