I have written in the past about the power of peer groups to help entrepreneurs defeat business challenges, regardless of whether their peers have industry experience. When I had a CPA firm, I was a member of Entrepreneurs Organization, or “EO.” Though my peers in EO were in completely different industries, the process of sharing the obstacles I faced and receiving the counsel of other entrepreneurs helped me and my business grow in ways that I still benefit from today.
Though I am no longer a member, I am still connected to EO because I believe so strongly in their mission, their process, and what they help business owners achieve through it. Membership in EO is reserved for business owners whose organizations have at least $1 million in annual revenue. Many small business owners have wished for a program to help them reach that threshold, and EO has provided it.
Before I continue, I want to point out that I am not receiving affiliate benefits of any kind from sharing this information. I'm sharing it because I meet with entrepreneurs all the time who want to hire me, but they aren't quite large enough yet for my services to work optimally. This program offers them another way to get where they want to go.
The Birmingham Chapter of EO has launched its first class of the new EO Accelerator program. This is just one of 50 chapters worldwide who are presenting the year-long program designed to help first-stage entrepreneurs grow to join the ranks of mid-sized businesses.
Dan Pahos, owner of Home Instead Senior Care, is the Chapter’s Accelerator Chair. Dan recently shared his goal for the program with me, saying:
“We want to help businesses that have achieved $250,000 in revenue and up to $1 million get the tools, guidance, accountability, and community to help them scale well beyond the $1 million level.”
Top Participant Benefits
Here are the most effective benefits Accelerator participants will gain through the program:
- Accountability. Participants will set, and must hit, three goals between each of the meetings.
- Fundamentals of people management. Participants will come to understand that lots of other people in business are facing the same problems as they are – mostly centered around employees and partners – and you can learn from their experiences, regardless of their industry.
- Access to amazing peers. It’s like a fraternity / sorority, without the secret handshake, and all are extremely willing to spend time with you to assist.
- Inspiration. Learning others’ experiences and how they dealt with problems is the ultimate ‘on your business’ work. It helps you make your own tough decisions and get the support and courage to carry them out.
While the program just started, participants have stated they they’ve already gained tremendous value. Here’s what some of them shared with me:
“I get to have conversations with people in similar situations as me. Talking about running a company is difficult with anyone except another person who is in one now, or has run one or several. My biggest joy is seeing other people succeed and thrive. The Accelerator gives me the ability, the discipline, and the sounding board to think through problems so I can set my company and my people up for greater success.”
-Drew Jackson, Streetmetrics.io
“The biggest thing is the ‘accountability factor’. I’m in a small group of five with a forum leader. We all make promises to ourselves and one another. We use an accountability checklist, and this makes me really do what is necessary to grow my business.”
-Merritt Milam, Wags n’ Whiskers Comprehensive Pet Care
Merritt told me she also enjoys the association with the larger EO Birmingham Chapter, and particularly appreciates the opportunities to learn from renowned thought leaders it provides. “We saw actor Michael Allosso, a world-class motivational speaker, on how to give incredible feedback – both positive and constructive – right here in Birmingham,” she said.
Your Opportunity
If you, or an entrepreneur you know, have about $250,000, but less than $1 million in annual revenue, and are challenged with the growth of your company, signing up for this program can get you to the next stage. You can get more information and apply for the program at https://www.eonetwork.org/eo-accelerator/.
If you are in Birmingham, EO is looking for seven more participants to join the program. They are hosting an Accelerator Test Drive at Innovation Depot on September 16th from 12:30 – 5:00 pm. Get more information and register here: https://hswebview.eonetwork.org/birmingham-accelerator.