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 12/16/2013
A decline in blood donations is typical during the winter months as people become busy with holiday activities and travel. Patient needs remain steady, however, making it important for people to visit a VBS donor site or mobile drive to give blood. > Read more.
In Varina, one of the most anticipated events of the season is approaching. The 19th Annual Big Toy Parade will return on Dec 14, offering a “homey,” small-town feel that helps elicit holiday spirit among participants and spectators alike.
The parade, which begins at 3 p.m., is sponsored by the Battlefield Ruritans and Henrico County Parks and Recreation and is held in conjunction with the James River Boat Parade. It is led by a grand marshal along Old Osborne Turnpike and ends at the Osborne Boat Landing, where hundreds of community members gather to await nightfall and the arrival of lighted boats, concluding a festive holiday celebration. > Read more.
Citizen Staff Reports 12/03/2013
Slated to begin play in the fall of 2014, Richmond United will field U13/14, U15/16 and U17/18 U.S. Soccer Development Academy teams. The teams will train and play home games at two of the top soccer specific complexes in the nation, Ukrop Park and Striker Park. > Read more.
Estilo charms, with a stylish twist, in Henrico’s Near West End
If you're looking for something a little different from the standard, ho-hum restaurant experience, look no further than The Village shopping center. Among the recent success stories to put down roots in The Village is Estilo, created by the owners of the gastropub Toast (featured in a Feb. 21 review in the Citizen), only a few steps away.
Estilo – which translates to style – offers a taste of Peru, Chile and Bolivia, among other countries, and a menu that rotates regularly through the rest of Central and South America. > Read more.
Disney’s Frozen shines as an instant classic
Frozen, by far, is the House of Mouse’s best attempt at a new Little Mermaid. > Read more.
- More Henrico News
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