To help you better understand the concept, here's a list of resources and previous publications:
MyBlogGuest Guides and Web Mentions:
How MyBlogGuest Works: this post defines the concept and gives a short overview of how bloggers may benefit from it: the author gets recognition and brand and the blogger gets free content and consequently free traffic and links.
Using MyBlogGuest as a Link Building Strategy: the post outlining the benefits of link building via guest posts over paid links.
Helpful Resources for Bloggers:
The Ethics of Guest Posting: please treat your guest bloggers right - never edit their contributions without discussing the edits with them.
How to Find a Guest Blogger for your Blog: besides, MyBlogGuest, there are more ways to attract guest bloggers for your blog.
Helpful Resources for Guest Posters:
How to Maximize the Benefits of Guest Posting: do a thorough research before writing a post: take a look at some of the blog’s most popular posts to get an idea of what worked well but try offering a new unique (your own) perspective.
The 7 Reasons Every Blogger Should Be Guest Posting: the post lists some benefits from guest blogging like networking, reaching new audience, link building, etc
Do You Make These Mistakes in Guest Posting?: don't be a doormat, never ignore the audience, never submit duplicate content or stolen content, etc.
When Guest Posts Become Too Self Centered: promote yourself properly, "If you do want to sell yourself in a guest post I’d much rather someone write a suggested byline with a little more information about themselves than have them include extraneous information and links in the post itself."
How to be a Good Guest Blogger: two most important things mentioned in the post (there are more of course but those two are just awesome): be yourself and add value.
Tip: Add as many tags to your profile as you can to ensure you'll be found by interested bloggers