Page 141 - The Magic of Tiny Business

Notes

Chapter 4

1. A touchpoint is a point of distribution and can be a person
or business.

Chapter 5

1. Guido, by the way, visited the office every year, around the
holidays, to deliver chocolates. He lived in Switzerland and
New York City and had big clients all over the world, and
we, by all measures, were his only tiny customer.

Chapter 6

1. If one of your Tiny Business priorities is to leave the world
better than the way you found it, you may be interested in
Social Venture Network (SVN), the parent organization
for SVI. SVN is a nonprofit membership organization
whose mission is to “support and empower diverse,
innovative leaders who leverage business to serve the
greater good.” You have to meet certain criteria to join, but
it’s a worthwhile organization that you should be aware of
as you grow your business.

2. From the very beginning of your business, you need to have
a cash reserve. Banks are more likely to loan you money
(and offer you an increase with a better rate) when you have
money than when you don’t have money. Whether you’re
starting your business with your own money or with raised
or borrowed funds, pick a percentage from every
transaction and put it into your “reserve capital” fund. Do
not use it for anything until you know it can be replenished
or backed up by a credit line or low-interest source.

3. SBA loans are provided under programs offered by the
U.S. Small Business Administration to tailor to the specific
capital needs of growing businesses. See https://www.sba
.gov/funding-programs/loans.

4. Mac McCabe, Sustainable Business Consultant

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