Workingpreneur

It’s all about the economy. Sure, it’s true that unemployment statistics are improving and people are going back to work. But if you are not currently on someone’s payroll, then for you the economy is still in a ditch.

Politicians on both sides of the aisle agree that small business is the foundation that will foster job growth. No argument there, but the question is what small business entities will remain sustainable over the next several years? Sonia Thomas, founder and CEO of Olanova and Olanova Global can answer that question — environmental awareness. Thomas’ organization, Olanova is an environmentally-driven clothing recycling business.  Her efforts go far beyond the concept of consignment or second-hand clothing. She hires local seamstresses and clothing manufacturers to design and create new clothing fashions out of recycled material.

Unfortunately, environmental issues are still in a tug-of-war with large industries (particularly with oil production and large-scale manufacturing). Not all governments are prepared to subsidize eco-friendly product manufacturing. However, Thomas recognizes that at some point everyone will need to take notice and get on board with environmental awareness. Environmental ignorance will only continue for so long before it comes around to bite us. In the meantime, companies like Olanova continue to push the need for more eco-friendly production and manufacturing processes.

Thomas is an expert at business models and she agrees that you don’t always need to reinvent the wheel.” If you see a model that works, go with it.” For example, she was greatly impressed with Tom Shoes where they give away a pair of shoes to a child in a third-world country for every pair they sell. Yes, they sell a lot of shoes, but they give away a lot as well. This idea encouraged Thomas to form her non-profit organization, Olanova Global where she trains and advises women (mostly single moms) to excel in business and leadership roles.

As the daughter of a single mom growing up in a third-world country, Thomas is no stranger to the struggles and economical woes that accompany this kind of lifestyle.  However, instead of accepting her circumstances as what they were, she used her experiences to develop a level of resourcefulness and determination to both succeed and help others succeed. She has managed to complete her education and develop a strong business acumen that has served her well in starting a business that might take awhile to get off the runway, but shows promise for a strong future.

Similar to the Toms Shoes business model, she devotes her time and resources from Olanova to build up her non-profit effort. She feels that despite the progress we have made over the last century, women still struggle with developing their full potential in the workplace. “My endeavor is to serve as a wake-up call to organizations of all kinds about the value that women can bring to an organization and society,” says Thomas. While industries are evolving and seeing more women in leadership roles, women need to be better prepared to excel in business. “Instead of blaming others and societal norms for their circumstances, women need to focus more attention on making an impact when the opportunities arise.”

As an entrepreneur and business consultant, Thomas sees a bright future in environmental-conscious business entities. At some point, global governments and the rest of society are going to recognize that the environment is at risk and something needs to be done. Companies like Olanova and Olanova Global will already be in a position to lead the way in eco-friendly product recycling and manufacturing.

By David Jensen

Everyone has their limit, breaking point, whatever you want to call it. That point where you stop and ask yourself is what you’re doing worth what you’re putting into it? If it’s your passion, of course it must be—you think. Well, keep thinking that.

I just helped a friend write his resume. This person, who once worked as an investment banker has exceptional business savvy, connections, and the know-how to build a successful business. So why does he need a resume? Well, after establishing a business partnership, writing a business plan, setting up seed money, creating a business model, and hand-picking the board of trustees, they went and Steve Jobs’d him. Yes, the company he built, became CEO of, and worked for without a salary for a year turned around and fired him. Apparently this is a common practice. “It’s not personal, it’s business.” All while this was going on, his wife was undergoing treatment for breast cancer.

After that experience, you can imagine that my friend felt like someone had taken a giant syringe and sucked all of the energy out of his body. Business and life experiences do that to you. So this person is supposed to shake that off and hit the trenches again? Yes.

I read an article about the panel of entrepreneurial experts who are featured on ABC’s Shark Tank. They’re a spirited group of professionals with their own ideas on how to be successful. They disagree often and the discussions often get heater. Still, there is some consensus among them about entrepreneurship. In their interview, they were each asked to define entrepreneurism. The following are some of the quotes that came out of that discussion:

• “Someone who is willing to take risks to pursue freedom.” Kevin O’Leary, Founder of Softkey Software Products (later became The Learning Company).
• “Entrepreneurship is about drive. People will work 80 hours a week to avoid working 40 hours a week.” Lori Greiner, Queen of QVC (ecommerce retailer).
• “Being consistent in strive or drive to be what they consider to be successful. They don’t try it one time and give up; they just keep trying until they figure it out.” Daymond John, Founder and CEO of global fashion brand FUBU.
• “Tough times never last, tough people always do.” Robert Herjavec, founder of Brak Systems, a technology integration firm.

There were a few on the panel that disagreed with that last comment, but Barbara Corcoran, real estate mogul, firmly agreed. She talked about how she invested with a person who’s product failed in the marketplace. Instead of giving up, that person turned around and invented another product.

According to the comments made by the Shark Tank panel, drive seems to be the underlying component in the definition of entrepreneur. Referring back to my friend, who is now looking to get on someone else’s payroll, I don’t think getting another job will be his final destination. Despite having a family to feed, his kind tends to get antsy for greater challenges.

In his book,  The Charge, Brendon Burchard states plainly that although you have expelled every ounce of energy you have, you need to step up and give more. In the forward of his book, he writes, “It is found during the long onward slog through the storms and strife, when we hear only the whispers and taunts of foes and opponents stronger than we, on the ground where we are kocked sprawling and forced to face our own weaknesses, and on the mountaintops that we reach only because we pitted our every ounce of virture, strength, character, and courage to keep climbing no matter the slings and arrows flung at our backs or the barriers thrown up before us. It is out there that we come face-to-face with the best in ourselves and with our destiny. It is out there, in a new world of uncertainty and adventure, that we push ourselves, better ourselves, realize ourselves. (Free Press, 2012).

Despite the recommendations to exercise, follow a nutritous diet, and getting plenty of rest to maintain your energy level, sometimes you just need to force yourself to keep pushing through the tough times.

We’ve all heard the “expert” statements about dealing with customers. “The customer is always right.” “I’m a customer myself so naturally that makes me an expert on what customers want.” Oh and here’s a classic, “The customer doesn’t know what he/she wants, that’s why we need to tell them.” When it comes to determining what your customers want/need, it pays to listen to them, and not just in the form of a customer survey. Surveys are a useful tool to learn about how customers feel about your products and what you’re doing. But they don’t give you much in terms of what their top priorities are regarding your service.

In his book, The New Rules of Marketing & PR, (Wiley, 2010), David Meerman Scott discusses the notion of establishing buyer personas as a way to help you determine who your customers are (not just demographics, but also things like their lifestyles, hobbies, and goals.  He also discusses (at great length) how communication used to flow in one direction—from advertiser to consumer. Now communication flows in both directions with consumers doing most of the talking. He suggests that it’s in your best interest to listen to what customers are saying on your blogs and other social media sites if you want to best serve both your existing and prospective customers.

An opportunity to actually converse directly with customers was dropped in my lap on one occasion. The software company that I worked for asked me to do a presentation for a group of users at a conference. When I completed my presentation, I opened the meeting up for questions. What I got were comments—a lot of them. This was no longer a one-sided presentation, it was a discussion so I picked up my notebook and began taking notes on what the group was saying and asking for. That was a great opportunity to essentially chat with our customers and the information I received was extremely valuable. At the end of the session, people came up after (always a good sign) and one person mentioned that this was the first time she had seen any of the presenters at the conference actually take notes on what the customers were saying.

There’s a lot to be said about the adage, “The customer is always right.” According to Jayne L. Smith, CEO of Smart Advantage, a Florida-based marketing firm and co-author of Relevant Selling, “Customer scrutiny is a lost discipline among today’s entrepreneurs.” “Too few companies are doing this and they’re leaving a lot of money on the table every day.”

Smith once conducted a customer survey for a company. She then polled the marketing and sales staff about what they thought was the number one concern among their customers. None of them were even close. It turns out that the issue they chose (which was the consensus) ranked eighth among their top 20 services. None of them even thought of the number one concern. Customer surveys might tell you how customers think you are doing, but they won’t tell you the value of what your company is doing.

A critical concept about entrepreneurship is that customer needs commonly change. It’s imperative that you always listen to what customers want because what your existing customers want often differs from what prospective customers want. Yes, it might be a cliché that the customer is always right, but when it comes to running a successful business, he or she really is.

By David Jensen

As a professional resume writer, I help people identify their strengths and marketable skills. Inevitably, one of the most common ‘strengths’ I see on a resume is the person’s ability to multitask. This is always included as a way to impress potential employers. In our time-urgent world, being more productive with fewer resources seems to be the order of the day.

When I think of multitasking, it conjures up images of someone sitting at a desk talking on the phone, responding to email, nibbling on a carrot stick, and trying to reach a file with his or her foot. By anyone’s definition, that could be considered a form of multitasking because the person is employing nearly every part of their body to accomplish a different task. What that person might be unaware of is the brain is not hard-wired to function that way.

You think you might be ahead of the game by simultaneously completing a variety of unrelated tasks, but in reality, you are actually lowering your level of productivity rather than elevating it. Your brain needs to devote a certain amount of bandwidth to complete tasks—specifically complex ones.  According to David Meyer, a cognitive scientist at the University of Michigan, “When you perform multiple tasks that each require some of the same channels of processing, conflicts will arise between the tasks, and you’re going to have to pick and choose which task you’re going to focus on and devote a channel to it.” (Entrepreneur, Dec. 2012).

Just like all forms of communication and signal transmission, the channels need a certain amount of bandwidth to devote the necessary attention to the task. If you try to divide your attention to various tasks, mistakes will happen. In the case of driving while texting or talking on a cell phone, accidents will happen. The bottom line is when you try to multitask, things will suffer. You could send the wrong email message, you could misunderstand a phone conversation because you weren’t paying full attention to the speaker, or you could completely forget an important task because you have maxed out your brain’s bandwidth.

Your brain has one mental and neural channel through which language flows. When you attempt to respond to an email message while talking on the phone, your attention is actually rapidly alternating between the two tasks—not completing them simultaneously.

Think of your productivity as sand traveling through an hourglass. The sand may be quickly moving through the narrow part of the hourglass, but only one grain of sand passes through at a time because like your brain, there is only one channel for sand to move through and it’s wide enough for only one grain at a time. When you consistently try to force more grains of sand through the channel, you can set off chronic stress. Consequently, you actually double the amount of time it takes to complete one task, which means that you are actually reducing your productivity.

Everyone is busy and we’re all trying to accomplish more in less time. The best way to elevate your productivity is to focus on getting organized and managing your time better. Complete one task at a time, give it all your attention, get it done fast and right, and move to the next task. Give each task the benefit of your full attention (this is common courtesy when dealing with other people). It’s also a good idea to devote time to letting your brain rest and just think. The time you spend mentally focusing on what you need to accomplish is never wasted.

By David Jensen

The most common question posed to creative people such as writers or cartoonists is “where do you get your ideas?” That seems to be a fair question that I hope I can shed some light on in this post.

In literature of any kind that uses graphics or pictures to help convey the central message, a new idea is often depicted as an illuminated light bulb hovering over someone’s head. This is almost a universal notion of a new, inspiring thought. This is all good and fine, but have you ever looked for that light bulb above your own head and can’t seem to see it? In other words, do you feel like your light bulb of fresh ideas has burned out?

Creativity often eludes us because we’re accustomed to certain norms. “We’re highly socialized and have fixed assumptions about what the world looks like,” says Barry Staw, an organizational behaviorist at the University of California, Berkeley. “You have to try to envision another world.”

One way that people manifest their creativity is through humor. As Staw suggests, we see the world based on certain norms and assumptions for how things should be. Humor often comes as a result of envisioning another world or an outcome to a situation that is opposite to the expected norm. Being familiar with the original situation, the new approach is often amusing. For example, Guy Endore-Kaiser and Rodd Perry create a panel comic called Brevity. One of their comics features two ghosts who were married in their mortal life and seem to have violated the “Til death do you part” concept. The caption has the female berating the male saying, “I found the texts from her on your phone, George. It’s over. From now on, you’re alive to me!” (Retrieved from, http://www.guyandrodd.com/)

Creative ideas seldom come from starting cold and trying to just think of a new idea. More often, ideas come from expanding your intellectual curiosity and making connections of disparate ideas and concepts. You do this by being more aware of your surroundings. As you move around in your community and cities, try to notice minor things that have changed since the last time you saw them. I have often driven through an area and have only noticed changes in large-scale construction projects. That’s too blatant. Your task is to notice more subtle changes.

To expand your intellectual curiosity, strive to notice the details that have gone into the way items are made by others have created such as signs, logos, lettering, and advertisements. Then draw your own conclusions as to why they were created that way. Famed comic strip artist, Charles Shultz (creator of Peanuts) often spent hours viewing exhibits from other cartoonists. He used to observe the width and depth of pen strokes and how the artists’ methods brought life to the drawing.

You can’t force creativity. However, you can encourage it by stepping outside of the norm and trying to imagine things slightly different or even directly opposite of how they currently are. Try to connect things that you wouldn’t normally put together. I enjoy talking about movies with my daughter. When we discuss a new movie that we haven’t seen yet, we take a look at the movie’s cast. I have often told her that there are some actors that I would never consider putting together in the same film. Yet someone made those connections and very often made the movie work well with that cast. Sometimes combining things that seem contrary make the most creative ideas.

By David Jensen

Okay, so the American public decided to give Barak Obama four more years in the Oval Office. So he can just pick up and move on dealing with the same challenges that plagued his first term. Naturally, the economy and the nation’s employment situation should be near the top of his list. This makes us wonder how he plans to deal with the economy and employment issues while trying to fulfill his other campaign promises.

Recent reports stated that employers added several thousand jobs during the two months preceding the election. However, unemployment jumped to 7.9 during that time also. That seems ironic, but it’s mostly attributed to more people deciding to start searching for jobs again after taking a break from it. The jobs were just not there so a lot of people abandoned the notion of finding something. This doesn’t bode very well for trying to accurately track unemployment statistics. So now that the election is over and we will keep most of the same administration personnel, how will that change things in terms of job growth?

Early in his first term, President Obama pledged to give some attention to the environment by encouraging the research and development of alternative energy sources. Given the price of gas, this seemed like the logical thing to do. His plan called for a reduction in the use of fossil fuels and coal in favor of more renewable energy sources such as wind, solar energy, and biofuels. The first casualty after his reduction in coal usage was the layoff of 170 coal miners from a mine company in Utah. The owner of the mine said he had no choice because of Obama’s policy.

Obviously, the nature of jobs will change over time due to emerging technologies. New jobs will be created as old ones will be phased out. That’s progress. Ultimately, this means that anyone who is comfortable in his or her current job might want to rethink their career prospects. Apparently no one is safe from organizations shifting their focus, technology advancements, and a vanishing market.

Instead of remaining locked into your same career path, you might want to consider retraining and qualifying for jobs of the future. Follow what direction that the current administration is heading. At least for the next four years there will be push for strategies that favor green energy and environment-focused endeavors. This means that jobs requiring a particular skill set that applies to the production of fossil fuels and electrical power sources could become obsolete. For example, the construction industry could soon start putting more emphasis on Leed Compliance (adherence to environmental laws and regulations).

I don’t doubt that the job market will improve. It may drag on for awhile, but eventually more jobs will become available for those who are qualified. This means that you will want to research and determine what products and services will be in demand and plot a course to become qualified to accommodate those demands.

A recent news story told about how employers added several thousand new jobs, yet unemployment inched up to 7.9%. Is this a case of two steps forward and three steps back? Another report said that while small businesses (the heart of the economy and employment) are adding jobs, they are still being cautious pending the outcome of the election.

This makes sense. An election year tends to have some kind of mysterious influence over the state of the economy, Wall Street, and society as a whole. Who we put in the White House might have a brief impact on all things nationally…. and globally.  People might either feel hopeful or paranoid based on their opinion of who they think should run this country. What does this say about a nation that nearly comes to a standstill during a major election? How much confidence or power do we put in the hands of our elected officials? How much is too much?

It reminds me of the days sitting in high school assemblies where students (mostly the popular ones) vie for the student body office of their choice.  They would promise everything from comic books in the library to chocolate milk in every drinking fountain to earn your vote. Whether it’s on a high school campus or across the nation, the fact is, there are some things that politicians just can’t (or won’t) do.

I read a statement by an unknown author years ago, “If you limit your actions in life to things that no one will find fault with, you won’t do very much.” Maybe the author refused to give his/her name out of fear that someone might find fault with that statement. The point is, no matter what policies and programs the politicians promote (okay, enough alliteration already), somebody somewhere is not going to like them and will do what they can to stop them. There isn’t a one-size-fits-all program. A new policy might seem magical from the pulpit, but after it goes through all the hoops and red tape, it’s not going to revolutionize anything.

Sure, the election will have an impact on the overall economy—for awhile. But my suggestion is that you should put more faith in yourself than in the politicians. No matter who gets put into office, there will be an impact on taxes, incentives, health care, consumer confidence, etc. But if you are waiting to see how the new (or same) administration is going to affect you and your business entity, you might need to rethink your business model.  The bottom line is you need a product or service that people will need under any economical circumstances. The political entities should not have that much control over a free enterprise system. Give yourself the benefit of the doubt and move forward with your plans. There will always be obstacles, but you are the one who will determine the success of your efforts.

By David Jensen

In the event that you aspire to start a business, it’s helpful to have a business-oriented mindset before you embark on this kind of endeavor. You might have any number of reasons for starting a business and they are all likely valid reasons. Starting a business is relatively easy, staying in business and growing in your marketplace is where it begins to get challenging.

Before you apply for your business license and hang out your shingle, here are a few questions to ask yourself to help you get into the business mindset:

• Do you like your business idea?
• Can you (and do you want to) spend your days in the business arena that you have set up?
• Do you have a passion for what you’re doing?

Oh, and one more thing….

• How do you handle fear?

Do you like your business idea?

Obviously, we all want to do something we enjoy doing to earn a living. But you need to remember that how you enjoy spending your time needs to align with what people need and are willing to pay for. The first concept of business is to determine what people will surrender their hard-earned money for and why should they give it to you over someone else.

Can you (and do you want to) spend your days in this arena that you’ve set up for yourself?

If you have been in the workforce for any length of time, you know that you spend a lot of time producing product or providing a service. When you’re in business for yourself, it’s quite possible that you will spend nearly double that amount of time. Therefore, how you spend your time earning an income will either motivate you to work hard and grow your business or clamor for something else. 

Do you have a passion for what you’re doing?

You can’t fake or force passion. You either have it or you don’t. This isn’t to say that you should throw in the towel on something that you don’t feel a genuine passion for—especially if you enjoy doing it. Developing a passion for something that has the potential for building a business around is difficult so don’t base your ability to be successful at something solely on passion. Focus your efforts on pursuing something that you enjoy doing.

The Fear Factor

Well-known horror novelist, Stephan King often said that people are more afraid of not knowing what is lurking behind the door or in the dark forest. That’s equally true in business. There are a lot of unknowns in business. In fact, one of the biggest obstacles (or fears) in business is not knowing what you don’t know.

Christopher Hann wrote in Entrepreneur  that, “Fear can thwart imagination and choke ambition. At its most devious, it can make every obstacle seem insurmountable.” This can really pull the rug out from under your entrepreneurial efforts. But at the same time, fear can be a good thing. (Entrepreneur, November 2012)

Fear is a reflexive emotion that reminds us to be cautious because there is potential danger up ahead. Fear might stifle our creativity to some extent, but it can also make us resourceful. In a fight or flight scenario, you have the option to turn tail and run. However, if you’re backed into a corner, your only option is to come out fighting. This can lead to great things and the ability to overcome the most arduous obstacles.

There is no reason why you shouldn’t start a business if you have legitimate responses to the questions posed earlier in this article. Just be aware that at some point you will need to don a suit of armor and come out swinging in order to achieve the success that you continue to strive for.

By David Jensen

It’s a common notion that people form an opinion of other people within 90 seconds of meeting them. I don’t know how that applies to everyone, but that’s how it works for me most of the time (then there are some people who I have formed an opinion of who I haven’t even needed to meet).

There are many ways to build a rapport with people and encourage them to establish a business relationship. One of the most logical ways is to be likeable. In his book, The Likeability Factor, Tim Sanders says, “Likeability is more than important, it’s more than practical, it’s more than appealing. Likeability may well be the deciding factor in every competition you’ll ever enter.” (Sanders, 2006)

Here are some other ways to improve how other perceive you”

Listen

When you are in a conversation with someone, focus all of your attention on that person. I had class in college that was called listening. A lot of students protested the necessity of taking this course. In fact, one group of students started a petition to get that course removed from the curriculum. Nevertheless, I have probably benefitted more that that class than any others.

When you listen to someone, you are not talking and that’s how you want it. There will be plenty of time later for that person to learn about you. But during your first meeting, you need to concentrate on learning about the other person.

One way to help you listen better is to show genuine interest in what the person is saying. Reiterate some of his/her comments and ask questions for further clarification. Your biggest endeavor is you want to demonstrate to the other person that you are in the here and now and that person has your undivided attention. That’s probably one of the biggest compliments that you can offer a person. I recently met with a colleague to mostly get caught up and discuss projects we were working on. During our conversation, she had asked me a question. When I was responding, I noticed that she was staring out the window. Physically she was there, but mentally, she was on a different continent. That is one of the fastest ways to lower someone’s opinion of you.

Find Common Ground

Okay, one from the cliche’ archives, “Imitation is the sincerest form of flattery.” There is a lot of truth to that statement.  People enjoy spending time with people they like and share similar interests with. When you are in conversation with someone, look for clues about that person’s interests. If you are meeting with someone in his/her office, notice the types of decorations, pictures, desk ornaments, etc. Find something that you can comment on. One of the best books on this topic is Dale Carnegie’s How to Win Friends and Influence People. While this book is dated, it contains great ideas that are still useful today.

Don’t Gripe, Complain, Moan, or Badmouth

Few things turn someone off than listening to someone complain about something or someone. We all have gripes and issues, but it’s best to keep them to yourself. Try to have pleasant and positive things to say. On a cautionary note, if you do badmouth someone in conversation, you might end up putting your foot in your mouth by trashing someone the other person may know and like.

One more from the cliche’ file, “You never get a second chance to make a first impression.” This might be true most of the time, but it’s important to recognize that you aren’t always going form positive connect with everyone you meet. I don’t know whether it’s a chemistry thing or what it is, but sometimes people just don’t connect and that’s okay. There are enough people out there to foster a positive relationship with. The idea is to keep meeting new people and expanding your circle of connections.

By David Jensen

You know the routine. You step onto an elevator and strike up a conversation with another person who asks, “So, what line of work are you in?” To which you respond, “I’m a business analyst.” “Sounds interesting,” the other person says, stifling a yawn. “What do you do?” you ask. The other person responds, “I’m in marketing.” Your turn to stifle the yawn. Then immediately you both check your watches, glance at your phones, or anything else you can do to pass the time in uncomfortable silence. As soon as the elevator doors open, you both scramble to get off. Both of you are convinced that you have just met the most boring person on the planet.

You Lost Me at Hello

This scenario, commonly known as the “elevator pitch” is a topic of discussion at all networking events and it seems like everyone has a version of how it should be played out. Okay, so I’m no exception. I have done some employment consulting and I have discussed some good approaches to the elevator pitch, the me-in-30-seconds statement, or networking introduction. Whatever you want to call it, it’s the same thing, a 30-second synopsis of how you spend your time earning a living.

It’s often easy to state your job title when someone asks what you do. Instead, it’s better to be more specific about your profession rather than waiting for the other person to ask, “What does a business analyst do?” In traditional context, it’s understood that you have 30 seconds to state what you do (roughly the time it takes to ride an elevator to the upper floors in a tall building). But what if one of you are only riding to the 2nd floor? This means that your 30-second statement needs to be cut down to about 5 seconds.

Elevator Pitch Examples

I’m a professional writer and also do some employment consulting so I’ll use a couple of my statements to provide an example:

“I help companies boost online traffic by providing quality, SEO content for their web sites.”

“I help people achieve their career goals by providing employment consulting and writing expert resumes.”

Force Your Own Hand by Telling Others What You’re Doing

When someone asks what you do professionally, and you cite a job title, you’re leaving more than a potential networking contact on the table. Aside from adding another person to your professional network, you depriving yourself of an opportunity to establish a personal commitment to what you do or want to do.

If you’re starting a business, a good way to start is by doing your own word-of-mouth advertising by telling everyone (as many as possible) what you are working on. This not only gets the word out about your endeavor, it helps strengthen your resolve within yourself in a few different ways. First, the more you talk about it, the more it mentally makes sense and begins gel for you. Another way is when someone gives you an opportunity to talk about what you’re doing, they are inadvertently being a sounding board for your ideas.

Essentially, when you tell someone about your venture, become socially committed to carry out your threat. Word travels fast. The next time you meet someone who you have talked to about your business, they will likely ask how it’s going for you. You certainly don’t want to sheepishly respond by saying that you have abandoned the idea, you want to provide a progress report. Give yourself the benefit of the doubt by carrying out your threat of starting a business and being able to have a positive report whenever someone “calls your bluff.”