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).
Bail Bonds Chesterfield VA

Earnhardt gives Redskins a ride


Dale Earnhardt Jr., driver of the Hendrick Motorsports No. 88, stopped at Richmond Raceway Aug. 8 in advance of the track’s NASCAR weekend in September. He was joined by five players from the Washington Redskins, who were in town for the team's training camp, which concluded Aug. 14. The day in Richmond gave Earnhardt and the Redskins players an opportunity to see how the athletes compete in their respective sports. > Read more.

READ Center a finalist for $25k grant


The READ Center is a top-200 cause finalist in State Farm’s Neighborhood Assist program, making it eligible to earn a $25,000 grant to support adult literacy in the Richmond region. The 40 organizations from across the nation with the most votes will win grants.

The READ Center, based in Henrico, provides classroom instruction and one-to-one tutoring to adults with very low literacy. > Read more.

Henrico County property transactions, Aug. 1-6


A sample of property transactions during this period appear below:

1847 New Market Road – $137,000, 1,659 SF (built in 1935), from Philip J. Whiteway, III and Donna H. Whiteway et. al to David T. and Katherine W. Benckert.
6304 Trailing Ridge Court – $165,000, 1,246 SF (built in 1999), from Carol A. Allen to Sandra R. Jefferson.
1722 Devers Road – $169,950, 816 SF (built in 1949), from Heather K. Brunner to Kasey A. Sheridan and Jason Talbot.
3201 Purvis Road – $175,000, 2,051 SF (built in 1997), from Geneva Moore LLC to Jessica I. Bolling. > Read more.

Glen Allen wins 2 of first 3 games at 14U Babe Ruth World Series


The host Glen Allen 14-year-old all-star baseball team won two of its first three games in pool play at the 14-year-old Babe Ruth World Series, which is it hosting at RF&P Stadium in Glen Allen. The team beat the Midwest Plains champions, 9-4, in its first game Aug. 10, then topped the Southwest champions, 7-3, Aug. 11 before dropping a 5-4 result to the Ohio Valley champions. > Read more.

Filipino Festival draws thousands


Thousands of attendees visited the annual Filipino Festival at Our Lady of Lourdes Church in Lakeside Aug. 11-12, enjoying native foods, entertainment, clothing and commemorative items and much more. > Read more.

Henrico Business Bulletin Board

August 2017
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West Broad Village’s Rock & Roll Summer outdoor concert series continues at “The Pad,” adjacent to Aloft Hotel at 3939 Duckling Dr., from 7 p.m. to 10 p.m. Teaze, an 80s and 90s hair metal tribute band, will perform. The concert is free and open to the public. Several parking decks feature free parking. The series continues every other Friday through August. For details, visit http://www.shopwestbroadvillage.com or www.facebook.com/WestBroadVillageShopping. Full text

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