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		Welcome to the My Own Business, Inc. (MOBI) newsletter! My Own Business, Inc. is a 501(c)(3) nonprofit organization providing free educational coursework on our website www.myownbusiness.org to foster successful entrepreneurs.   Each issue will give you information and ideas to help achieve your entrepreneurial goals. Highlights of this issue include:   Feature Article "Outsource? Why Not?" by Gwyn Myers, Ph.D., Managing Director, Transition Partners and Trustee, My Own Business, Inc.   U.S. Department of State features Entrepreneurship and Small Business in eJournal.   The My Own Business course is made available for classrooms conducted by Community Colleges.
		Outsource? Why Not?   By Gwyn Myers, Ph.D. Managing Director, Transition Partners and Trustee, My Own Business, Inc.   Strategic sourcing is increasingly seen as key to the success of the business enterprise. But that does not apply to the start-up, the entrepreneurial venture, the small business - why not? Your reasons may be different, but the advantages to your operation could be just as substantial. Let's look at three major questions that have to be answered on the path to sourcing:         Why would I want to do this? Cost saving is often the prime objective for the big guys, but what about the following: 1) Freeing up your time to focus on the things that make your business unique. There are many others who can produce a payroll, who can fulfill orders, and who can even answer phones and input data. 2) Access to productivity tools and subject matter experts. Order fulfillment, mailings, etc. can now be streamlined through the use of sophisticated automation, technology that would be beyond your investment capability as a small business but is available to you through sourcing.   How would I pick a vendor? The process is long, structured and arduous for large organizations, but you can take advantage of your size by meeting potential vendors, looking at their operation, and creating a strategic partnering opportunity. Your size will eliminate some vendors but will open the door to others who will be flexible and accommodating to your needs.   What are the risks? The major risk for a business of any size or maturity is the performance of the vendor. Vendors need to be managed! Establish performance metrics and reporting; cultivate a good relationship by being open in your communications; and look for ways to provide mutual benefit.   Gwyn Myers is a trustee of nonprofit www.myownbusiness.org, providing free coursework for entrepreneurs.
		The U.S. Department of State Features Entrepreneurship         The Bureau of International Information Programs of the U.S. State Department publishes an electronic journal, Economic Perspectives, that examines major issue facing the United States and the international community. The January issue, Entrepreneurship and Small Business, is a compilation of helpful information regarding small business in the United States. Included in this issue is an article by My Own Business, Inc. (MOBI) Chairman Phil Holland: "So You Want to Start Your Own Small Business." The article also includes a sidebar "The Biggest Mistakes People Make in Starting a Business."   For the complete text of both the article and the side bar, click here.   MOBI is proud to have participated in this presentation by the State Department.
		Teach the My Own Business Course in your Classroom!   My Own Business Trustees Daina Johnson and Peggy Holland, both educators, have developed a comprehensive, turnkey program for community colleges to offer the My Own Business course in their classrooms. The class is conducted in a classroom setting under the direction of a course instructor, using the My Own Business textbook in conjunction with the PowerPoint CD. An Instructor's Guide provides recommendations for presenting this course. The students can go online for Audio Clips and transcripts, business plan templates, forums and business resources. A Certificate of Completion is available for students successfully completing all sessions.         For more information or if you wish to preview the My Own Business textbook, the first PowerPoint session on the Classroom CD and Highlights from the Instructor's Guide, please contact daina@myownbusiness.org.
		Share Your Success Story   Your sharing your Success Story in the FYI Newsletter offers a double benefit: You can gain widespread recognition by and promoting your business to the more than 210,000 visitors who view the My Own Business site over 928,000 times each month. Also, your success story will provide lessons and inspiration to the many others who are striving to achieve success. We really want to hear from you.   Visit our Success Stories page and share your good news at myownbusiness.org/success.html.
		Dear MOBI Column We welcome your questions to be answered in this Newsletter feature! Here is our Q and A for this edition:.     Question:   I have been in the process of getting my business started, and have decided to see about adding a new product line. Where is the best place to find merchandise to sell in my shop, books and such?   Answer:   I would first visit your competitors whom you admire as good operators and see what they are selling the most. What sells best for them will probably work best for you too. Feel free to ask questions including where they buy their merchandise. Or once you have determined what products you wish to add, visit Google and enter in names that describe the products. You will find lots of sources. When you do buy merchandise for sale do not be tempted to buy too much in order to get bigger discounts. Feel your way by buying in smaller lots. Also, be sure to visit Daina Johnson's sound byte transcript in session 11.   Phil Holland, Founder of My Own Business, Inc.
		Tell a Friend:   Please let your friends know about our newsletter by referring them to:   www.myownbusiness.org        MOBI Business Certificate - Improve your chances of success in business with a My Own Business Certificate. Get exclusive access to the creators of this course to obtain invaluable input on your specific business problems.   Business Forums - Share your thoughts and ideas with thousands of other business-minded people. Gain invaluable insight from experts in your field.        My Own Business, Inc. welcomes your comments and questions. Please send to FYI Newsletter, My Own Business, Inc., 13181 Crossroads Parkway North, Suite 190, City of Industry, CA 91746, phone 1-562-463-1800, or e-mail us at info@myownbusiness.org.

 
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