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Welcome to the Winter 2007

My Own Business, Inc. (MOBI) newsletter!

My Own Business, Inc. is a 501(c)(3) nonprofit organization providing free educational coursework on our website 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: MOBI Participates in the World Bank's first Global Development Learning Network (GDLN) Forum. By Nancy Robert, Ph.D., Member of MOBI Advisory Board.
  • Feature Article: Young People Around the World Nurture Entrepreneurship By Katherine Powers, MOBI's Washington D.C. based Intern.
  • Where To Borrow Money For Your Business By Phil Holland, founder of My Own Business, Inc.


MOBI Participates in World Bank Forum

By Nancy Robert, Ph.D., My Own Business, Inc. Advisory Board

Nancy Robert
Dr. Nancy Robert
In October, MOBI was invited to participate in the World Bank's first Global Development Learning Network (GDLN) Forum. The World Bank describes GDLN as "a global partnership of learning centers that use advanced information and communication technologies to connect people working in development around the world." At its June 2000 inception, eleven countries were GDLN founding Affiliates. The GDLN Forum highlighted the network's tremendous growth that now includes 70 countries worldwide.

The interactive Forum brought together Affiliates, partners, educators, and global community network sponsors from around the world with over 130 participants representing 70 countries. James D. Wolfensohn, the GDLN founder and former World Bank President, encouraged Forum participants to experience this global gathering as "a moment for dreaming."

The GDLN Forum was designed to foster new personal relationships, to explore business opportunities to share content and learning processes, and to capture emerging ideas about ways to use the GDLN to promote innovative global growth opportunities. MOBI representative, Dr. Nancy Robert and MOBI'S SBA partner, Glynis Long, facilitated discussions about MOBI's entrepreneurship training content with representatives in countries spanning Africa, Asia, Australia, and South America.

Glynis Long, Director of Small Business Administration International Programs (seated second from left) works with GDLN participants to dream about the future of GDLN.

There was great interest in MOBI's e-learning and classroom training. As more countries launch micro-loan initiatives MOBI's content is recognized as a way to provide support for individuals seeking entrepreneurial funding opportunities.


The Young American Business Trust (YABT) Holds Reception for GDLN Participants

By Katherine Powers, MOBI's Washington D.C. based Intern.

The Young American Business Trust (YABT) held a reception for GDLN participants at the Organization of American States on October 12, with Katherine Powers representing MOBI. YABT works with young people around the world in establishing a sense of entrepreneurship as well as gathering various national associations within each country to form a support system in order to ensure that entrepreneurship accomplishments are allowed to continue.

The YABT goal is to train, allowing for the people themselves to then take responsibility for creating change within their own country. Synergies between MOBI and YABT are found in the belief that establishing a sense of entrepreneurship is a way to spur global economic development, particularly in developing countries. The chance for MOBI to work with YABT in establishing this global system of entrepreneurs would likely have a lasting and significant impact on the growth of small businesses and people's lives around the world.

The MOBI team is now exploring opportunities to work with YABT and the GDLN Affiliates. Both YABT and GDLN provide challenging opportunities to the dissemination of entrepreneurship training around the globe. To meet this challenge MOBI is working with the World Bank and SBA to understand how to address global dissemination challenges such as language translation and training launch initiatives.


Phil Holland

Where To Borrow Money For Your Business

By Phil Holland, Founder, My Own Business, Inc.

The most frequently asked question by start-up entrepreneurs is: Where can I get the money to start my business? The answer to that big problem lies in first knowing how much will be needed and then knowing where to go for it. To determine how much, summarize up all of your starting costs and then add the working capital required for one year as determined by a one-year cash flow projection. A free, easy cash flow format is available on the non-profit website Here are some money sources:

  • Personal savings should be considered the primary source. If you haven't started already, start now. Frugality is the cornerstone for starting a business.
  • Friends and family. A relatively easy and cheap source with usually reasonable payback terms.
  • Personal credit cards can provide readily available unsecured money. But it's an expensive source of funds.
  • The Small Business Administration's loan guarantee programs: The SBA is offering guarantee programs that will turn a banker's scowl upside down. Contact your closest SBA office or go to
  • Business relationships and vendors can offer all kinds of inexpensive financing and working capital. This includes landlords offering tenant improvements, vendors participating with advertising allowances and extended credit terms, and leasing rather than purchasing your furniture, signs and equipment,.


Dear MOBI Column

Dear MOBI Column We welcome your questions to be answered in this Newsletter feature! Here is our Q and A for this edition.

Question: Does this sound like a good opportunity? My daughter works for a landscaping business and has recently found out that a landscaper would like to sell twenty of the customers she is currently servicing. My daughter is interested in doing this. However, she is not sure that the asking price is reasonable. The woman is asking $50,000 for 20 customers with a net income of $20,000. Of course, my daughter would also want to obtain more customers on her own, but would this be a good jump start???

Answer: The valuation of the business based on the income seems to be favorable. The anticipated rate of return can be determined by dividing the income of the business by the price: or $20,000 divided by $50,000 = 40%. But there are other considerations that are more important. Landscape maintenance has become more of a commodity business (the cheapest price wins) because of the proliferation of immigrant entrepreneurs. I would suggest considering a deal where the price is paid over time based on the paid-for customers staying with your daughter over a period of time.

Another approach is to start from scratch, building one customer at a time. Word-of-mouth referrals are where most new customers come from in landscape maintenance and a beginning with one good customer will lead to many more over time.


Share Your Success Story

Share Your Success Story

Your sharing your Success Story in the FYI Newsletter offers a double benefit: You can gain widespread recognition by promoting your business to the more than 224,000 visitors who view the My Own Business site almost 990,000 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

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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


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