Im wondering just how important it is to no follow your out going links on your website? A excerpt Outgoing Links Your Web page doesn't appear to be using the rel="nofollow" anchor attribute. It's important to use this attribute for outgoing links that you cannot verify, are not related to the content of your Web page, and/or link to Web pages with low PageRank. Otherwise, search engines may penalize your Web page for links they deem to be untrustworthy. from http://raven-seo-tools.com Code (markup): I saw this and was like maybe I do need to change them. What is every one opinions?
Ignore FunMan...he obviously only read the post title and not your actual post. It may be a good idea to use nofollow attributes on your site's external links. This ensures that all of your internal PR gets sent to your own pages. Without the nofollow attribute, you would bleed some of that internal PR to those external sites. If you have dofollow links to spammy or bad neighborhood sites, it could even lead to ranking penalties. If you make your external links nofollow, it does limit the participation of many seo's.
^ Yay for posting just to increase post count. Anyway, there is a constant debate over this point with the general consensus being that there is no benefit in doing so. Assuming you check who you are linking to (and not just posting random links) then it is only natural to link to other sites. This is how the internet operates, you move from one site to another via links so Google will not penalize webmasters for not including a "nofollow" tag. If I were to guess, Google would get more suspicious of a website filled to the brim with nofollow links, as it would be a blatant effort to work the SERP's while at the same time if all webmasters were to do that, then Google wouldn't be able to crawl any sites.