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 10/28/2016
Patient First will offer free digital X-ray imaging of Halloween candy at all neighborhood medical centers from 6 to 9 p.m. Oct. 29 through Oct. 31.
While an adult should always inspect candy before allowing a child to enjoy their trick-or-treating rewards, the free X-ray offer gives parents an additional precaution to consider and to provide peace of mind. X-rays may detect objects such as glass, metal or plastic; however, parents still need to provide supervision, since some foreign materials may not appear in x-rays. > Read more.
Reynolds Community College will host Richmond sculptor Paul DiPasquale Sept. 28 as he shares his presentation “Art Talk, Why Art Matters” from 6 p.m. to 8 p.m. in the Conference Center Gallery of the Workforce Development and Conference Center on the Parham Road Campus, located at 1651 E. Parham Road in Richmond. This event is free and open to the public. > Read more.
The theme for the annual Dominion GardenFest of Lights at Lewis Ginter Botanical Garden in Lakeside has been announced.
This year's event, which opens Nov. 25 and will continue through Jan. 9, will explore "Living Color" and show how the world's kaleidoscope of colors speaks to people, impacts nature and influences culture, according to Garden officials. The event features more than a half million lights, botanical decorations, trains, holiday dinners, family activities and more. > Read more.
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CalendarThe Rotary Club of Innsbrook meets every Thursday at 7:30 a.m. at The Place at Innsbrook. For details, visit http://www.innsbrookrotary.org. Full text