As we see our emergence from the pandemic on the horizon, business leaders are feeling optimistic. That is, if their businesses were able to survive the economic downturn. While small businesses were among the hardest hit segments of the economy, one group of entrepreneurs has managed to weather the storm. The Charlotte Chapter of the Entrepreneurs’ Organization (EO) reports that 100% of its members, all owners of businesses that have surpassed the $1M revenue mark, were able to successfully sustain their businesses through COVID. How did they do it?
“EO supports the growth of members’ businesses as a foundational principle,” said Reinhard von Hennigs, president of EO Charlotte and Chairman and founder of BridgehouseLaw. “COVID 19 put an exclamation point on the value of this support. When our members needed EO the most, EO was at its best.”
von Hennigs cited three main factors that led to the universal success of EO’s Charlotte member entrepreneurs. First, peer groups within the chapter serve as a personal board of directors, sharing experience and expertise that can be leveraged by the group.
“Our EO forum group held weekly huddles every Saturday to support, encourage, listen and learn from the very beginning of the pandemic,” said John Cantrell, EO board member and president of HB Cantrell & Company Insurance. “Whatever it took, we were there to ensure every member had what they needed.”
Second, access to outside expertise and learning was central to proactively preparing member businesses. Virtual how-to webinars on PPP and the distribution of templates and guidance ensured every member that needed financial assistance was ready to submit their application the day the funding was available.
Third, members sought to support each other’s businesses as well as their emotional well-being in creative ways. “I wanted us to find a way to keep connected and engaged with each other and the community,” said Susan Rolls, EO board member and founder of Interactive Integration. “A few EOers, including Joe Vogelbacher of Sugar Creek Brewing Company, took Sugar Creek’s old 5-ton military truck out and made deliveries to Charlotte neighborhoods to spread cheer and smiles. Those connections made in a moment of shared challenges kept us going.”
EO is a global organization with more than 15,000 members in chapters spanning 61 countries. Dedicated to the optimization of business and personal potential of their members, EO provides unique learning opportunities, a global peer network, and access to once-in-a-lifetime experiences all over the world. The U.S. East region of EO, which includes the Charlotte chapter, is the fastest growing region in the world.
“We had to cancel our global conference in South Africa, and the amazing Safaris tailored for our members, due to COVID,” said Brian Kight, EO Charlotte board member and founder of Daily Discipline. “But we were all in this together. We created virtual happy hours to keep everyone motivated. While entrepreneurs often feel isolated, EO was and continues to be our lifeline to genuine relationships with people just like ourselves. That was even more important through COVID.”
To find out more about EO Charlotte, visit eocharlotte.org, or follow us on LinkedIn https://www.linkedin.com/company/eocharlotte and Facebook https://www.facebook.com/eocharlotte/
The Entrepreneurs’ Organization (EO) is a $124 billion global, nonprofit peer-to-peer network of more than 15,000+ influential business owners with 167 chapters in 61 countries exclusively for entrepreneurs. The members are business professionals who are the owners, founders, co-founders or controlling shareholders of companies that have annual revenue of $1 million USD or more.