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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:   Introduction of a major upgrade to the MOBI course: The addition of over 50 video clip interviews of prominent business leaders expanding on all 14 topic sessions. The "read me" version of two videos are featured as our Words of Wisdom for this issue.   An introduction to our newest session, Licenses, Permits and Business Names.   The My Own Business course is made available to Community College classrooms.   Consider becoming a Certificated Course graduate of My Own Business.
		Words of Wisdom: Accounting Skills Are Critical To Operating Your Business   By Maureen Costello, President United Pacific Pet   Why is a good understanding of accounting important for running your own business?           I think that if an entrepreneur doesn't have a good understanding of accounting there will be a very high probability of failure. Accounting is the way you keep track of how well your business is doing. It's how you keep track of your cash. If you run out of cash, even if your sales are growing and your profits on the books are high, you're out of business. You can go bankrupt even with a successful business. So the only way you're going to know is if you do really good accounting, do cash flow projections and really watch your cash. So that's number one.   Secondly, you have to pay taxes; you have to be in compliance with the tax laws. If you're not very good with accounting you're going to have problems with the IRS. They too can put you out of business. So you want to be sure you know what you're supposed to be doing from an accounting point of view. Also, you won't be able to get bank loans if you don't do a good job at accounting because you have to have financial statements that you can bring to a bank that are in the format that they are accustomed to, in order to gain their confidence to loan you money. So there are a number of reasons why being familiar with accounting and making sure you have very good accounting for your business are important to you.
		Your Business On The Web   Eddy Chavey, Web Designer MrBreakfast.com   What would you recommend to a business owner starting a website for the first time?           If you're starting your first website you've got to be concerned first and foremost with quality. One of the high points you want to express is that you're a quality business. So don't cut back whether you hire someone or do it yourself. And a warning for people doing a first website for themselves: it will be really fun and you're going to think this is really dynamite but I promise you that you will look at it a few months and you're going to say, "What did I do!" You have to compare it, even if it's done by a professional, to what's out there and make sure that yours stacks up.   The tools are out there for you to do a website yourself. It takes more time. If you hire a designer, make sure you have done research on the person, and you like the work that they've done. No matter what your business, you have to instill in your designer what it is you do. They have to have a complete understanding because the site is going to take off from that. It's important to have a clean website. You can't have a bunch of bells and whistles. The most important thing is that people are able to get from place to place. You have to have that contact information and a clear indication of what you do.
		Licenses, Permits, and Business Names   We are pleased to announce our new session on Business Licenses, Permits, and Business Names. This session gives helpful advice on how to tackle the sometimes intimidating paperwork needed to get your business started. Some of the many questions answered are: Where do I get a license? Do I need a DBA? Should I Trademark My Business Name? What is the importance of an Employee Identification Number? The session also includes a downloadable Business License and Permits Checklist form to help you get organized. Click the following link to view our new session: http://www.myownbusiness.org/business_permits_license/index.html
		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. An Instructor's Guide provides recommendations for presenting this course. 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 classroom@myownbusiness.org or visit: http://www.myownbusiness.org/special.
		The My Own Business Certificate Course   The Certificated Course is intended for serious individuals who are, or will be, risking financial loss as a result of a business venture. It includes graded examinations in each session and a graded final examination. A Certificate of Completion requires successful completion of all session examinations and 80% or better score on a final examination. This Certificate will assure that you have a greater understanding of how to start and operate your own business. For more information visit our certified course info page.
		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 189,000 visitors who view the My Own Business site almost 750,000 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 am starting a new electronics retail sales store. I want all kind branded models for wholesale price. How can I find wholesale dealers who supply branded models like Sony, Motorola, Fuji, Panasonic, etc?   Answer:   I would first suggest making contact with each supplier that you would like to represent and let them know what you have in mind. For example, to contact Motorola, you could go to any major search engine and enter "Motorola" and motorola.com will immediately come up. Then go to "contact Motorola" on their website and begin your inquiry.   Also you might visit stores that are selling the brands you have in mind and see if they can give you information on where they get their merchandise. Perhaps the boxes that merchandise comes in will disclose the sender's name and address. Or better still, go to work for an retailer and get information on their sources of supply.   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        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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