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.
Citizen Staff Reports 12/01/2016
The project:HOMES "Renew Crew" (above) recently assisted an elderly member of the Laurel Presbyterian Church in Henrico by clearing brush, trimming hedges and raking leaves in her yard.
The Renew Crew serves low-income, disabled and elderly homeowners in need of small-scale home repairs such as porch, railing and step repairs, exterior painting, clearing overgrown yards, tearing down outbuildings, wheelchair ramps and other critical repairs and accessibility modifications. > Read more.
More than 2,000 people participated in the the Alzheimer’s Association Greater Richmond Chapter's annual Richmond Walk to End Alzheimer’s Nov. 5 at Markel Plaza in Innsbrook. The event raised more than $436,000 for Alzheimer’s care, support programs and research.
The event is one of three walks that benefit the Alzheimer’s Association of Greater Richmond and is held in celebration of National Alzheimer’s Disease Awareness Month and National Family Caregivers Month.
Donations to the Walk to End Alzheimer’s will be accepted through the end of the year and can be made at http://www.alz.org/walk. In total, the three walks this year have raised more than $644,344. > Read more.
The past couple of days haven’t felt like it, but it’s finally December and this weekend is packed with holiday events. Kicking the weekend off is Glorious Christmas Nights’ production of “Finding Christmas” at West End Assembly of God. Gayton Baptist Church’s annual Jazz Nativity starts tonight. Another annual favorite is tomorrow – the tree lighting at The Cultural Arts Center at Glen Allen. In search of Christmas concerts? The Virginians Barbershop Chorus will present its annual Christmas Show tomorrow at the Collegiate School and the Richmond Choral Society will perform Sunday at Trinity Lutheran Church. For all our top picks this weekend, click here! > Read more.
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CalendarThe McShin Foundation will screen a reunion showing of “Heroin The Hardest Hit” at 6 p.m. in the West Wing Chapel of Hatcher Memorial Baptist Church, 2300 Dumbarton Rd. The office of the Attorney General released the film last year to document the heroin epidemic plaguing Virginia. To celebrate the anniversary of the film, there will be a showing followed by a reunion of the individuals featured in the film and on the original panel, including Attorney General Mark Herring. For details, visit http://www.mcshin.org. Full text