I have been a member of EO Brisbane for 3 1/2 years. It has been an amazing journey and I see my membership as an integral part of my life. In that time I have been privileged to hold leadership positions (membership and President) for nearly 3 years. As a result of my keenness to learn I have also travelled to 7 global events. At one of the global leadership events I heard of the MYEO concept. I think of it as ‘customized EO’. Basically you can create your own version of EO. The chapter delivers an excellent ‘product’ with mentorship, forum, learning events & peer-to-peer connections. MYEO is what you want it to be. Outside of your forum or your chapter you can create your own special interest groups, learning events or forums.
I chose to create my own forum. I still have my local forum who are like brothers and sisters to me but I was looking for more. What I was looking for is specific business advice & experiences for my type of business. My business is a ‘Software as a Service’ business and is quite unique. It’s a business model where you sign clients to a monthly fee to access my software over the internet. It’s a subscription model that requires different skills sets, funding, marketing, sales and delivery models. What I was looking for (and found) were people who operated the same business model but in different target markets.
Seeing it is customized EO (and as the inaugural moderator and creator of the forum) I set some entry criteria that suited what I wanted. My criteria for entry are:
1. The business must be doing >$1M already – not a startup nor a division of another business getting started
2. The intellectual property (software, platform or content) must be owned by the entrepreneur – not a reseller of someone else’s product
3. The model must be a monthly or annual subscription – not a transactional model where the customer buys e-tail and leaves
4. The entrepreneur must be looking for >$100M exit
With this criteria at the start I only entertained serious players. Hey, it’s my forum; this is what I want so why not hang around people who want the same as you?
So with that in mind I started looking for forum buddies around the EO world. I advertised the forum on the MYEO website, posted my message on some EO Facebook and LinkedIn groups and started asking around. I had about 25 enquiries; selected 9 and we were away. Pretty quickly one dropped out who did not feel it was for.
We had 2 conference calls to get to know each other then we set a 2 day meeting date in Hawaii which was last week. Of the 8 members only 5 could make it to Hawaii. My members are from Australia, Philippines and USA so times can be a challenge. In Hawaii last week we set the constitution, meeting dates for 18 months in advance, created an accountability reporting system and most importantly we hunkered down and get some work done. We each shared (in detail) our business models and what works and what does not work. We each shared challenges and learned from each other’s mistakes and successes. And of course we had a lot of fun as well.
Going forward we have a schedule which includes monthly accountability, sharing & learning conference calls and we will meet for 2 days every 4 months around the world. At the face to face meetings we intend on visiting local businesses of our type, bringing in expert speakers and of course sorting out our own businesses as we head to goal no. 4.
MYEO is an awesome platform to supercharge your life. The 2 days in Hawaii with people who run my type of business has been the best 2 days of EO learning I have ever done!