Phil Holland has been an entrepreneur throughout his adult life. His businesses have included building "spec" houses, the manufacture of automatic doughnut machinery, designing and building apartment complexes, restaurant franchising, doughnut retailing and the development and management of shopping centers. His thorough understanding of the world of business has been demonstrated through success (and even a failure) at these varied and demanding professions.
In 1970 he founded Yum Yum Donut Shops, Inc. with just one shop and 5000 dollars which went on to be the largest chain of privately owned donut shops in the United States. He sold his interest in Yum Yum in 1989.
Starting after the Los Angeles Rodney King riots in 1992, Mr. Holland began conducting a free night course in Compton, California to encourage people to start new businesses. The course was designed to help entrepreneurs avoid the common mistakes many entrepreneurs make when starting out. With this beginning, a 501(c)(3) non-profit organization was formed, My Own Business, Inc. (MOBI). The goal was to help foster successful entrepreneurs worldwide. Mr. Holland brought together a Board of Trustees consisting of business and professional experts who continually expand the content and outreach of the free My Own Business Internet course, www.myownbusiness.org. Mr. Holland serves as Chairman of the MOBI Board of Trustees.
Phil Holland received his Bachelors degree in mechanical engineering from the University of Southern California.
When I started teaching the course in Compton, I couldn't get people to do a business plan. It was impossible, it just didn't work. I think it is important to do a business plan. It's important like having a roadmap if you're going on a trip. I don't think that a business plan, however, should b...(Full transcript available to logged in subscribers.).
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Phil Holland States He Should Have Had Plan In Place For Startup Before Quitting His Job
Phil Holland States Biggest Mistake With First Business Was That It Was In The Wrong Industry
Phil Holland States Partners Can Be Different But Must Have Same Work Ethic and Integrity
Phil Holland States Bankruptcy Often Ends Up Being a Litmus Test For Marriages As Well
Phil Holland States Importance of Putting Buy-Sell Agreement In Place In The Partnership
