YEO - A Resource for Business Owners

Running a business is both an exciting and difficult challenge.  Balancing the needs of customers, employees and the company’s goals and vision requires a lot of hard work, commitment and occasional luck.  Many business owners don’t have a lot of places to turn when they want advice or relevant experience for dealing with the issues they face every day.  That is where Young Entrepreneur’s Organization (YEO) comes in.

YEO is the premier peer-to-peer global community, network and resource for entrepreneurs.  It is a chapter-driven organization run by volunteer membership. Each chapter is supported by YEO International which provides services such as: access to top speakers, marketing materials, extensive networking databases, PR & media relations support, workshops and other educational programs. YEO has more than 4,800 members in chapters around the world.  The Minneapolis chapter was founded in 1992 and has over 40 members.  The average company represented in the Minneapolis chapter has 35 employees and sales of $5 million.  To qualify for membership, one must:

• Join by your 39th birthday 
• Be the founder, co-founder, owner, or controlling shareholder of a business
• Have gross annual sales in excess of $1 million

Jaime Engel, President of JDB Associates, and the finance chair for the Minneapolis chapter says this about his YEO experience.  “I have received great value in being a member of YEO.  It has provided me with an opportunity to enhance my growth by giving me access to people who have similar concerns and issues as myself.  If I have a problem, there are probably 10 other people in the chapter that have been through the same thing.  The educational events have provided me with access to community and business leaders speaking on topics ranging from management to our families.  YEO has helped me become a better person, personally as well as professionally.”

YEO has many programs and benefits, but the two major offerings are Forum and the educational events.  On a monthly basis, small groups of 6 – 10 members meet for a three-hour Forum meeting.  These Forum meetings are used to discuss any issues the members wish to share.  “We have had discussions on how to develop a comp plan to motivate our sales forces, where is a good place for a family vacation or how to market your services to differentiate you from your competitors” said Engel.  “Trust is a critical aspect of the success of Forum.  YEO has strict confidentiality requirements, and people know that their issues will be kept within the Forum.”  YEO requires a commitment of all of its members because it takes time for a group to build the level of trust required.  “If you are unable to commit to three hours every month, YEO is probably not for you.  YEO members understand that consistency and commitment are vital for the health of each Forum.”

In addition to forum, YEO holds monthly educational events.  These events typically take place in the evening following Forum.  Recent events have included a FISH Philosophy seminar, a round table discussion on “Creating Vision for Your Company” featuring Lloyd Sigel of Lloyd’s Barbecue (along with optional golfing at the Tournament Players Club in Blaine), and an interesting discussion of “Health and Wellness” presented by a Dr. Christopher Foley, a frequent speaker on the need for an integrated health-care system and development of the principles of "functional medicine" and the reengineering of delivery.  YEO also mixes in a few family or spousal events every year.  In the past 12 months there have been family picnics, the annual Christmas party, a planned family ski retreat to Lutsen, and some workshops related to communication and relationships.  YEO focuses on developing the entire person, not just the businessman or woman.

The benefits of YEO do not end at the monthly meetings, networking and social opportunities.  YEO sponsors frequent national and international events as well.  These YEO “universities” pack educational and social events into short seminars covering a wide range of topics.  In addition, YEO International provides a wide-array of resources to members. 

If you would like more information on the YEO experience, check out www.yeo.org, or contact Willie Monteiro, membership chair for the Minneapolis chapter at (952) 345-0012.