There are many conceptual models of entrepreneurship. Some are complex and some are simple. Today, I’d like to share one that is the latter. It won’t fill a business book. It’s not even worthy of a thousand words; it’s too self-evident. It comes from an index card I stumbled across:
For those who can’t read my intricate scrawl, it says: “You need attention to create trust. You need trust to have a shot at creating value.”
I still agree with that statement, but it does omit some nuance. First, concerning the type of attention: sincere engagement is better than cheaply generated eyeballs. Second, the relationship between trust and value is misrepresented. One does not precede the other. Instead, they offer mutual support. It’s like the chicken and the egg. The creation of value garners trust, and trust lowers barriers, giving you a chance to create worth.
So, with the above in mind, I’d rework the two sentences into the following diagram:
That’s all there is to the Attention-Trust-Value-Profit Model of Entrepreneurial Endeavours—or the ATVPMEE for short.
I told you it was simple.