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).
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New GRASP scholarships to aide winners with college debt and costs


Fifteen Henrico County Public Schools students recently received a “2+2” scholarship from the non-profit organization GRASP (GReat Aspirations Scholarship Program, Inc.). In total, the newly created scholarships will help 71 students receive their baccalaureate degrees from a Virginia college or university with lower costs and less student debt.

The scholarship awards each winner $1,000 for his or her first year at a community college to cover the costs not covered by financial aid, such as books and computers. > Read more.

Long & Foster’s Innsbrook, Short Pump offices participate in community service day event


Thousands of real estate agents and employees with Long & Foster Real Estate, including those at the Innsbrook and Short Pump offices in Glen Allen, Virginia, took part in the company’s 20th annual Community Service Day June 7.

The Innsbrook and Short Pump offices chose to volunteer with Housing Families First on June 7. The organization’s mission provides families experiencing homelessness with what they need to move to a stable housing situation. > Read more.

Network of Enterprising Women to award scholarships to local HS grads

Three recent Henrico County high school graduates are among the 10 local students who will receive scholarships from the Network of Enterprising Women during the organization's monthly luncheon July 6. > Read more.

Crime Stoppers’ Crime of the Week – June 26, 2017


Richmond detectives need the public’s help to identify the vehicle and suspects in the shooting incident of a 7-year-old boy and an adult male. Can you help Crime Stoppers solve this latest shooting?

The shooting occurred in the 1500 block of North 22nd Street in the Fairmount neighborhood of the city. Officers arrived and found the two victims near a bus stop. > Read more.

Richmond Montessori School earns VAIS reaccreditation


Richmond Montessori School, an independent Montessori school for children ages 2 to 14, recently earned reaccreditation from the Virginia Association of Independent Schools. The VAIS accreditation program is one of only a few recognized at the national level through the National Association of Independent School's Commission on Accreditation and is also recognized and approved by the Virginia Board of Education through the Virginia Council for Private Education. > Read more.

Henrico Business Bulletin Board

June 2017
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Lewis Ginter Botanical Garden will host its annual CarMax Free Fourth of July celebration from 9 a.m. to 5 p.m. All visitors will receive free admission throughout the day, which includes the exhibits Butterflies LIVE! and Wild Art: A Journey Off-Canvas. Activities in the Children’s Garden from 1 p.m. to 4 p.m. include live music by the Happy Lucky Combo and a parade around the Children’s Garden at 2 p.m. Guests are invited to wear red, white and blue and decorate wagons and strollers. For details, visit http://www.lewisginter.org. Full text

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