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    Short definition to what outbound link is : url that you have it on your site that redirect to other site.  So, while Google PR  has become a race for everybody, more and more are getting in bound links to your site. Though your mission should be to get more site to link to yours, and not forget their polar opposites.

So, when you are outbound links to your site, you are reviewing, voting the site you link to. Search engine are working after this method, especially the entire ranking algorithm. So, when two similar websites, in content and design, the site with more links pointed will be considered more important by the search engine.

So, when you are linking other websites you are growing the relevancy of your own site. The work is simply, the spider returns the info to the database so the algorithm will process it, because it has already sorted some results on the links your site points to.

When you are outbound a positive thing is the Geo Targeting or Local Search. The new trend as it is being told in Search Marketing is the local search. So list your address on your website, for those who are embracing local search.