Peer-ing into future By Nicole Queen - Denver Business Journal At 24, Patrick Condon wanted to start his own business. But he didn't know the first thing about owning one. "The biggest struggle was not knowing what I didn't know," Condon said. "I didn't know how to hire people; I didn't understand how to develop and grow my [business] culture." Eventually, the young entrepreneur figured it out and developed his design-build company, Finished Basement Co., in Denver. Condon, now 37, gives credit to the Colorado chapter of Entrepreneur's Organization (EO) as one reason his company didn't fail. "I really don't think I'd be in business were it not for the support and learning that comes from EO," he said. "I certainly don't think I'd be here today without it." Based in Alexandria, Va., EO is an international nonprofit service for entrepreneurs run by volunteers who are also EO members. Since 1987, EO has brought together what entrepreneurs need the most: each other. "As an entrepreneur, you can feel very lonely, like there aren't many people you can commiserate with," said Jessica Shulze, 35, communications chair for EO's Colorado chapter and owner of Square One Financial LLC, a subprime auto finance company in Lakewood. "I think there's a lot of people who have traditional jobs [who] don't really understand. "One of the biggest things for myself is just to understand that there are other people out there like you, and it's helpful to know there's other people who understand your situation." Since the start of EO'S Colorado chapter 12 years ago, it has grown to be the ninth-largest one nationwide, with 111 members. EO has 108 chapters worldwide, with a total of 6,889 members. Members of EO's Colorado chapter have access to other Colorado entrepreneurs via EO's most successful program, its private forums. The forums are a way for entrepreneurs to talk about their business and personal problems with peers, according to Lee Prosenjak, 31, incoming president of EO's Colorado chapter starting June 1. He also is the owner -- or "The Guy Who Does Everything But Teach Dance," as printed on his business card -- of Cherry Creek Dance studio. Chapter members can form their own forums with other members and choose where they meet, which typically is at a restaurant. "The biggest impact [of EO] comes from [the] forum," said Shawn Phillips, 44, founder of Phillips Performance Nutrition LLC in Golden and author of "Strength For Life," who has been with the same forum of people for three and a half years. "I have a great forum of people, and every month we get together and find inspiration ... they're people that you know and trust, and you can get extremely real with [them] and get real feedback." Phillips said he used the forum as a sounding board while writing his book. Condon agreed that the forums offer the best experience for him as a business owner. He's been in the same forum with the same nine guys for seven years. Condon said he's learned how important it is to keep up and grow with his company, and learn from other members. "We have a format where we meet at the same time and we rotate restaurants ... we start with our meetings and end with eating together, and sometimes it goes well into the night," he said. "Our topics are about 50 percent business and 50 percent are personal ... Without a doubt, they're my closest group of friends." For Shulze, the forums are a way to share business woes and successes. She said it would have been a lot easier starting her business if she first had the knowledge she's gained from other forum members. Her forum mates have helped her especially with figuring out work/home balance. "The biggest thing would be ... to be able to have this group of people, especially the forums, that are available to call on for their wealth of knowledge ... " she said. "I don't want to have to learn from my own mistakes if I can learn from someone else's." Colorado chapter monthly events are held in various venues. EO also offers international and national events for members, usually at an extra cost. Last year Sam Addoms, former CEO and board chairman for Frontier Airlines, spoke to the local chapter. So did Cameron Herald, COO of 1-800-GOT-JUNK. Keli McGregor, president of the Colorado Rockies, also spoke to the chapter about sports business in the Warning Track Room of Coors Field. EO's Colorado chapter also has participated in motivational and team-building events, such as going to the mountains to shoot automatic rifles at targets or walking barefoot over hot coals, which was part of a special "Breaking Down Barriers" program. "There were no burns or injuries, and everyone was cheering each other on ... it was pretty motivational," Prosenjak said. This year, Pete Coors is scheduled to speak to the chapter. New members pay annual dues of $2,499, and existing members pay annual dues of $1,649; these figures cover both Colorado chapter and international dues. New members usually come from referrals from members, according to Chris Sinclair, 41, outgoing president of EO's Colorado chapter and founder of Bellwether Holding Co., a construction trade company in Denver. EO's Colorado chapter requirements for new members are that they must:
Prosenjak expects the number of local members to grow between 10 percent and 15 percent this year. The main reason entrepreneurs might not join EO is they don't think they have enough time, according to Sinclair. "But [EO] is an investment in time, not suckage of time," Sinclair said. "It's kind of like working out: You say you don't have the time to, but when you do, you feel better and refreshed." Condon said business owners can't afford not to participate in an organization such as EO. "I don't know how you start a business and make it grow without an organization," he said. "You just have to learn from other people. It'd be a long path to take by yourself." Details: |