Page 111 - The Magic of Tiny Business

Part III  Practice Your “How”

want or need to build a business faster or you do not have
personal funds, you will need to raise money with inves-
tors or crowdfund. What I caution about raising money is
that it can be a huge distraction, taking a lot of time away
from the actual running of your business.

You have to find the right investors because once you
take their money, you are working for them or, in the best
of situations, with them as partners. Different types of
investors measure and expect different returns (e.g., tradi-
tional venture capitalists versus angel investors).

Although I don’t have direct experience with these
approaches, I know someone through the Social Venture
Network who does: Jenny Kassan, attorney, capital-raising
coach, and author of Raise Capital On Your Own Terms.
She has made it her mission—and her business—to help
businesses more efficiently and effectively get funding. I
encourage you to read her book to get a better understand-
ing of the capital-raising landscape and the wide array of
options open to you.

The Importance of Good Credit

You need good credit in business. Simply stated, you
need to prove you understand how to borrow and repay
by having a history of doing so. You are being watched
when you use financial tools such as credit cards. This is
money being “loaned” to you by an institution or com-
pany. You want to use these tools to the best of your abil-
ity—that is, borrowing money and paying it back

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