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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Henrico Public Library wins Virginia Breast Cancer Foundation grant


The Henrico County Public Library system recently won the Virginia Breast Cancer Foundation's Library Grant Award, which provides funding, materials and programming from VBCF to help educate citizens about breast cancer.

The grant is given to select libraries in Virginia that apply and is intended to further the VBCF mission to educate the public about breast health and breast cancer. > Read more.

Pet Valu to open in Glen Allen Aug. 26


Pet supplies and accessories retailer Pet Valu will open at 5304 Wyndham Forest Drive in Glen Allen Saturday, Aug. 26.

The store will offer free samples, goody bags, refreshments, raffles and prizes and kid- and pet-friendly entertainment during its first day of business from 9 a.m. to 9 p.m. > Read more.

State issues warning about purebred puppy scam


Virginia Attorney General Mark Herring is warning Virginia consumers about an active fraud involving purebred puppies.

Herring's Consumer Protection Section recently has received a number of reports of consumers entering into agreements to buy a pet with a company they found online, later to learn the website and the company are a scam – and that no such puppy ever existed. > Read more.

Kaine, McEachin to host Service Academy Day


Congressman A. Donald McEachin (VA-04) and Senator Tim Kaine (D-VA) will co-host their Service Academy Day to educate high school students about the service academy nominations process, an honor awarded by members of Congress for students interested in attending a service academy after high school.

The event will take place Saturday, Sept. 16, from 10 a.m. to noon, at Matoaca High School, 17700 Longhouse Lane, Chesterfield 23838. It will provide an opportunity for high school students and parents to learn about the nation’s military academies, a career in military service and the nominations process. > Read more.

Red Cross, Sport Clips offer free haircuts to blood donors


The American Red Cross and Sport Clips are partnering to provide free haircuts to anyone who donates blood or platelets to the Red Cross during September.

Blood donors of all blood types, especially type O negative and O positive, are urgently needed to replenish the blood supply following a critical summer blood shortage. > Read more.

Henrico Business Bulletin Board

August 2017
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Meadow Farm Museum will host “Saturday Live” from 12 p.m. to 3:30 p.m. on the first Saturday of the month through the summer. Enjoy an afternoon of interactive, living history demonstrations as you explore this mid-19th century farm. Today’s event will highlight herbs and their traditional uses in cooking and medicine. Admission is free. No registration required. For details, call 652-1416 or visit http://www.henrico.us/rec. Full text

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