On the outside, it appears successful entrepreneurs have it all figured out. The reality is the journey to success can be lonely, often filled with self-doubt or procrastination. EO Charlotte exists to give those business risk-takers a support system.
“It’s very much a misnomer, because entrepreneurs don’t have it all figured out,” says Heather Karriker, executive director of EO Charlotte, an entrepreneurs' organization. “EO was built on the idea of creating a safe environment where entrepreneurs could share the intimate details of their greatest wins and their losses, things they wouldn’t share elsewhere and where they could share with those who could relate. It allows for connection on a deeper level.”
Karriker, a leader in the local nonprofit entrepreneurial space since 2015, was named executive director of EO Charlotte in November. The Charlotte chapter of EO was founded in 1998 and is part of a global organization with nearly 200 chapters in 61 countries.
Karriker spoke with Charlotte Inno about EO’s unique peer-led structure and how the organization intends to become more visible in the Charlotte entrepreneurial landscape.
What’s it like being an entrepreneur?
You will hear any entrepreneur say it is a really lonely journey. We have an organization of 125 member businesses from $1 million to $100 million. Some of our alumni have gone on to build some of the most successful private and public companies in Charlotte. Essentially, EO provides the opportunity for entrepreneurs to connect and find their place.
For EO programming, what’s most in demand?
We focus on the forum experience. This is the highest-rated benefit of EO by our members. Forum provides peer-to-peer experience sharing in smaller groups that are intentionally no larger than 10 people. The forum acts as a personal board of directors where members can share the deepest decisions they face in a confidential environment. The moderator is a trained EO member that guides the sessions. Others don’t give advice but speak from their experience so members can draw their own conclusions on how to proceed. For members, this is their main peer network. We want as much diversity as possible in those groups because that is the way they are able to have truly open conversations and not all have had the same experiences. Second to forum are our learning events and the opportunity to connect with other members outside the business setting where they can focus on relationships. A key piece to understanding EO is that it's not selling to one another. It truly is networking and a support group.
What are the plans for EO Charlotte?
The plan is to grow. We grew our membership 25% this year. I see that as a really big success. Our broader vision is to grow our economic impact. It’s also important to increase the visibility of EO Charlotte in the community as thought leaders. Currently our forums meet at one of the business locations for a member. We are beginning conversations about having an official meeting space. Right now, I am remote. Another goal for this year is to have office space.
What is the EO Accelerator program?
The program is an intensified curriculum focused on accountability and building a foundation for scalability to help members build their business. It’s a three-year program, on average, consisting of four quarterly learning days that focus on operations, finance, strategy and people. There are usually four to six participants, and they hold each other accountable as they work on scaling their business. A coach from EO who is successful in their own business is ready to be a mentor in the process. We just graduated participants from the program and three of them came into EO Charlotte.
What’s the difference between an accelerator versus an incubator?
An accelerator is less of a prescriptive program. We meet entrepreneurs where they are and tailor to fit their business model. Coaches are successful business owners already who help coach them through the process and hold them accountable.
Who are your strategic partners?
We have partnered with Scale Up CLT through the Charlotte Regional Business Alliance Foundation and the city of Charlotte to offer scholarships in the EO Accelerator program. We had a record number of applications and have 18 new participants. We are looking through an entrepreneurial lens of how we can impact social and economic mobility. As these businesses grow, their leaders move into EO and can give back.
We also hope to grow our Strategic Alliance Partnership program, which allows Charlotte companies that share our commitment to developing the entrepreneurial community to provide resources to our membership and in return gain insights from our membership. We have 12 partners in the program that are in banking, event space, legal, HR and hospitality.
Tell me about your background that led to this role.
I have degrees in education and counseling from UNC Charlotte. I started my career in the education space and soon learned I could have a larger community impact in the nonprofit space. I moved into a director role with Social Ventures Partners, which supports social and economic mobility, and was the program manager for Seed20. EO Charlotte made a strategic move last year to hire an executive director to grow the organization. Given my experience in that nonprofit space, EO seemed like the next step for me. I work with amazing high-energy business owners, and I am learning so much from them.
How does EO fit into the larger Charlotte entrepreneurial landscape?
Charlotte is a very corporate city. We have this organization that provides the opportunity for entrepreneurs to connect and find their place and along the way share their experience and learning. We want to come alongside others in the community and be that entrepreneurial resource. We are striving to be a more visible partner in Charlotte’s effort to create a vibrant entrepreneurial ecosystem.
