Over the course of his long and inspiring life, Phil Holland pursued a number of endeavors. At different times he owned businesses that manufactured food processing machinery, that built apartment buildings, and that developed shopping centers. Perhaps his most successful commercial venture was the chain of Yum Yum Donut Shops that he founded in 1970 with $5,000. At one time, Yum Yum was the largest chain of privately owned donut shops in the US.

Phil used his setbacks and failures to help others avoid the mistakes he made along the way. Phil wrote The Entrepreneur’s Guide, which would later become the foundation for the My Own Business Institute curriculum.

He found a purpose in helping Los Angeles communities in the wake of the 1992 riots. With his wife Peggy, Phil developed a curriculum based upon his book and began teaching classes for free at the Compton Job Training Center.

After teaching his curriculum in person for a number of years, Mr. Holland began offering his training online in 2000 through his not-for-profit My Own Business Inc. In 2014 he and Peggy selected Santa Clara University to steward their program and mission into the future. With this transition, the My Own Business Institute within the Leavey School of Business was created. The Hollands generously gifted a $17.5 million legacy endowment to the University to ensure MOBI would remain free, for anyone anywhere. MOBI students and alumni represent 140 countries around the world, and thousands earn certificates each year by completing a MOBI course.

Phil died in his Los Angeles home on December 26, 2021. He was 95.