Entrepreneurs have many reasons for being in business including being mentally wired for entrepreneurship like me, or being out of work, or even a desire for starting a moonlight business. Most everyone asks the same question: "Where do I get the money?" Our Session 9 will suggest a wide range of potential resources from your mother-in-law to investment bankers. But the lack of money doesn't have to be a roadblock. Many businesses can be started with little or no money at all. Here are some alternatives to putting cash into a new business, based on my personal experience in starting the first Yum Yum Donut Shop:

• Select a business that has inherently positive cash flow, where the purchase is fully paid for at time of delivery.
• You can contribute labor you would otherwise pay for. With the first Yum Yum, I installed the tenant improvements including new flooring and painting. It's called sweat equity.
• Use your goods or services to make purchases, instead of paying for them. In Yum Yum's case, the major expense was for equipment and fixtures. In a bartering agreement, the fixture company installed the equipment with no money down and I produced a much needed marketing brochure for them.
• Businesses started with no money have a higher risk of running out of cash later on. To avoid this I prepared weekly cash flow projections. It was a key tool for my survival. See http://www.myownbusiness.org/s7/index.html.

After the third store opened, Frank Watase joined me as partner and together we became the largest privately owned doughnut shop chain in the U.S. Following my retirement, Frank and his son Lincoln have continued to grow including the acquisition of Winchell's Donuts.

Here's a partial list of businesses requiring very little or no cash. You can start small and grow one order at a time. BUSINESSES YOU CAN START WITH LITTLE OR NO MONEY

You can now find MOBI on Facebook. Join us as fans! Visit our video clips, business tips, what we are up to and even photos of MOBI’s history and some of the team. We hope you will share with your friends and family.

Our governance as a nonprofit organization is the responsibility of our Board of Trustees. We are proud to introduce three new distinguished members:

Anthony McCuller, Vice President, Chubb and Son Insurance Co. Tony has 32 years experience in commercial insurance and is an Executive Field Underwriter for Chubb. He holds a Bachelor of Education Degree from the University of Oregon.

Steven Morgan, Ed.D., President of the University of La Verne. Steve holds a doctorate in Education Management from University of Northern Colorado and has been President of the University of La Verne for 25 years.

Daniel Nathanson Ph.D., is a Professor at the UCLA Anderson Graduate School of Business. Dan is a successful entrepreneur, executive, investor, and educator. He holds a Ph.D. from the Wharton School of the University of Pennsylvania.

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

Question: I’m hearing a lot about how important it is to have a business plan. Is completion of a business plan really needed? I intend to start an auto repair service.

Answer: Yes, we think a business plan is an important planning tool. But watch out because it can also be a double-edged sword. If you have made a correct assessment of the long-term economics of your business, then your plan can provide a useful roadmap and financing tool. But if you have miscalculated the economic potential, then even a beautifully embellished plan will become a roadmap to oblivion. Also consider:

• Write out the plan yourself, in your own words.
• Use the format in MOBI’s Session “The Business Plan” including the downloadable templates that you can fill in.
• Have experts in your business give critical feedback on your plan.
• Your business plan is not set in stone. Update it every six months.