Trust Accounts are in the Mind of the Beholder

Covey (2006) talks about trust accounts. He compares it to a checking or savings account. You make deposits or withdrawals depending on your behavior, how you make them, how they are communicated, and how they are perceived.

For example, the University of Wisconsin Men's Basketball Team recently beat Duke University Men's Basketball Team on national television thereby benefiting from a major deposit into its trust account.

A couple of days later, UW lost to the University of Wisconsin-Green Bay, a little known university in, where else, Green Bay, Wisconsin. The game was televised only in the Green Bay area, so the team incurred only a very small withdrawal, because no one even saw the game except for those in Green Bay.

But here's another important difference between a trust account and a savings account. If a savings account has $5 in it, it has $5 in it. The UW Men's BB team has "money" in its account only for those who like college basketball. And for someone who's not a UW student, alum, faculty, or other person with a connection with the UW, it has no account. For those who don't care about the UW or College Basketball, no behavior, good or bad, will have any effect.

My goal here is to bring out more skilled entrepreneurs. How am I doing? What do you think of this? Any comments?

Entrepreneurship is the life's blood of all my professional activities. It makes them go. It informs my connection strategy.

It makes Your Stop for Real Estate, my real estate referral business, go. See www.yourstopforrealestate.blogspot.com.

It powers my writing. Go to www.timswritingblog.blogspot.com for my ideas on writing and publishing and read my mystery for free at wwww.kearneymusicschoolmurders.blogspot.com or buy it from Amazon.com more cheaply than you can print it out.

It fuels my publishing enterprise, By and for Writersgo. See www.byandforwriters.blogspot.com where you can get a poem or a short story published.