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Phil Holland States Importance of Starting Business With No Cash

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Total Case Duration :

  • Date Added : 8/16/2007
  • Clip Duration : 1 min. 22 sec.

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Phil Holland

  • Founder, My Own Business Inc (MOBI)
  • male
  • Caucasian
  • 1927 (Age: 93 years old)
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • Video 1 of 46 in this Case
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Biography

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.

I have come to believe that one of the elements of starting a business, it is not at the top of the list of importance is, is having a lot of money. I started Yum-Yum without a dime and there was a lot of sweat equity that went into that first store. I did borrow $5000 from a friend. That's the o...(Full transcript available to logged in subscribers.).

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Phil Holland videos

Video 1 of 46 Phil Holland Discusses Academic Background
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 54 sec.
Video 2 of 46 Phil Holland States Traditional Engineers Are Not Made For Entrepreneurship
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 41 sec.
Video 3 of 46 Phil Holland Discusses How Engineers and Businesspeople Can Cross-Train Each Other
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 47 sec.
Video 4 of 46 Phil Holland Discusses Experience Working For a Large Corporation
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 47 sec.
Video 5 of 46 Phil Holland Shares Thoughts on Real Estate Industry
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 46 sec.
Video 6 of 46 Phil Holland States He Should Have Had Plan In Place For Startup Before Quitting His Job
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 2 min. 14 sec.
Video 7 of 46 Phil Holland States Biggest Mistake With First Business Was That It Was In The Wrong Industry
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 54 sec.
Video 8 of 46 Phil Holland Shares Thoughts on How To Pick The Right Industry For A New Business
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 36 sec.
Video 9 of 46 Phil Holland States Partners Can Be Different But Must Have Same Work Ethic and Integrity
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 7 sec.
Video 10 of 46 Phil Holland Discusses Return To Real Estate Industry
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 28 sec.
Video 11 of 46 Phil Holland States All Entrepreneurs and Startups Will Have Ups and Downs
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 33 sec.
Video 12 of 46 Phil Holland Discusses Differences Between Design Build Projects and Spec Proejcts
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 38 sec.
Video 13 of 46 Phil Holland Shares Personal Story Of Going Bankrupt
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 38 sec.
Video 14 of 46 Phil Holland Discusses Desire To Remain An Entrepreneur Despite Being Bankrupt
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 53 sec.
Video 15 of 46 Phil Holland Discusses Decision To Start Yum Yum Donut Shop
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 22 sec.
Video 16 of 46 Phil Holland States Bankruptcy Often Ends Up Being a Litmus Test For Marriages As Well
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 45 sec.
Video 17 of 46 Phil Holland States Importance of Starting Business With No Cash
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 22 sec.
Video 18 of 46 Phil Holland States Key To Yum Yums Success Was Specialization And Focus on Quality
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 38 sec.
Video 19 of 46 Phil Holland Discusses Yum Yum's Vertical Integration
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 41 sec.
Video 20 of 46 Phil Holland Discusses How Hiring Managers Away From Competitor Was An Advantage
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 57 sec.
Video 21 of 46 Phil Holland Discusses How Yum Yum Name Was Chosen
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 15 sec.
Video 22 of 46 Phil Holland States An Entrepreneur Is A Person Who Has Confidence To Go It Alone
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 25 sec.
Video 23 of 46 Phil Holland States Entrepreneurs Can Be Born Or Made
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 52 sec.
Video 24 of 46 Phil Holland Discusses Decision To Form A Partnership
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 47 sec.
Video 25 of 46 Phil Holland Discusses Exit from Yum Yum Company
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 52 sec.
Video 26 of 46 Phil Holland States Importance of Putting Buy-Sell Agreement In Place In The Partnership
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 54 sec.
Video 27 of 46 Phil Holland States Increasing Desire For People To Become Entrepreneurs
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 54 sec.
Video 28 of 46 Phil Holland Gives Advice To Start Out As A Moonlight Entrepreneur
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 43 sec.
Video 29 of 46 Phil Holland States Importance of Developing a Specialized Company
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 2 min. 33 sec.
Video 30 of 46 Phil Holland Discusses Impact on LA Riots On Founding of Company, My Own Business Inc.
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 2 min. 20 sec.
Video 31 of 46 Phil Holland Discusses Growth of My Own Business, Inc.
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 37 sec.
Video 32 of 46 Phil Holland Discusses Decision To Form Company As Not For Profit
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 57 sec.
Video 33 of 46 Phil Holland Shares Thoughts on Reasons For Popularity of Entrepreneurship
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 34 sec.
Video 34 of 46 Phil Holland States That Being a Successful Entrepreneur Takes Focus
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 21 sec.
Video 35 of 46 Phil Holland Discusses Importance of Understanding Accounting
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 35 sec.
Video 36 of 46 Phil Holland States Making Money Doesn't Matter If You Lack a Positive Cash Flow
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 8 sec.
Video 37 of 46 Phil Holland Discusses Board of Trustees For My Own Business Inc
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 39 sec.
Video 38 of 46 Phil Holland Discusses Differences Between For Profits and Not For Profits
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 1 sec.
Video 39 of 46 Phil Holland States Importance of Understanding All Aspects of Business Planning
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 37 sec.
Video 40 of 46 Phil Holland States Importance of Choosing Best Location For Your Business
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 12 sec.
Video 41 of 46 Phil Holland States Business Plans Are Important But They Are Also Only A Tool
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 40 sec.
Video 42 of 46 Phil Holland Outlines His Company's Approach To Business Planning
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 6 sec.
Video 43 of 46 Phil Holland States Negotiation Is Both and Art and a Science
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 39 sec.
Video 44 of 46 Phil Holland Shares Thoughts On Providing Employee Incentives
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 6 sec.
Video 45 of 46 Phil Holland States Failure Was A Big Surprise
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 46 sec.
Video 46 of 46 Phil Holland States Giving Back Is The Best Reward
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 0 min. 27 sec.

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Phil Holland States Importance of Starting Business With No Cash
  • Phil Holland - Interview - My Own Business Inc. (MOBI)
  • 8/16/2007
  • Phil Holland
  • 1 min. 22 sec.
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