Denver Business Journal - by Ian Neligh, Denver Business Journal
Date: Sunday, September 4, 2005, 10:00pm MDT - Last Modified: Thursday, September 1, 2005, 10:37am MDT
Steve Angelo Denver (right), a real estate developer, hosted an Entrepreneurs Organization event at his penthouse. From left are Danny Keefe, Townsend Wardlaw and Jeff Suskin. The Colorado chapter, founded in 1996, has 66 members.
Lisa Wilson is a member of the Rat Pack. No, not the one of Las Vegas fame, but rather a self-named group of eclectic Colorado entrepreneurs who meet regularly at the JW Marriott in Cherry Creek.
This Rat Pack is one of several groups -- called "forums" -- that are part of the local chapter of the highly selective, New York-based Entrepreneurs Organization (EO). Membership is by invitation only, and applicants must be 40 or under and be founders, co-founders, owners or controlling shareholders of businesses with annual revenue exceeding $1 million. After age 40, membership is converted into the World Entrepreneurs Organization.
The EO, founded in 1987, has 120 chapters in 40 countries, totaling about 5,500 members who pay annual dues of $1,650. The main purpose of membership is to enable owners to share business advice, strategies and experiences in a confidential setting.
Chapters meet monthly, and EO also offers worldwide networking services, such as Members Exchange, in which entrepreneurs can submit questions, track responses and communicate with members around the world.
EO's Colorado chapter was founded in 1996 and has 66 members. Their annual revenue averages $10 million. The chapter holds two membership drives a year and will admit new members at its Sept. 15 meeting.
There were 40 applicants; the local chapter's board of directors usually grants membership to less than half of those who apply.
Members and applicants socialized at two EO events last month, enabling board members to learn more about those who wish to join. The board considers whether applicants meet the financial criteria, the significance of their entrepreneurial experience, bus�iness history and success.
Wilson, president of VisiTech PR in Denver and an EO board member, said chapter members own businesses whose revenue ranges from the entry-level $1 million to more than $60 million.
"It's really nice to have other entrepreneurs that you can go to with your business issues or with your challenges and hear about their experiences," Wilson said. " ... I have found regardless of the business or the size of the business, a lot of the challenges are the same. A lot of the things you learn along the way are the same and it's really nice to hear that from other people -- and to share that with other people."
The membership fee covers the cost of meetings and events. The Colorado chapter also has brought in high-profile speakers such as Pete Coors and Jack Welch, former CEO of General Electric.
Also, the Colorado chapter's 10 forums -- their names include 19th Hole, Fab4rum, Snake Eyes and Road Warriors -- meet at the monthly gatherings to discuss business problems and solutions.
Wilson's forum named itself Rat Pack because the members share similar mindsets.
"The Rat Pack forum tend to be nontraditionalists, and a little bit more eccentric in our thinking," Wilson said. "We want people who are going to fit within that culture ... so everyone feels comfortable, like-minded."
The Rat Pack includes Michael Gellman of Spire Media, Mark DesRosiers of Whirled Peas Catering and Paul Koenig of the law firm Kendall, Koenig and Oelsner PC. All are Denver companies.
"The biggest value that I get from [EO is] where we get together with other entrepreneurs and share issues that we deal with on a day-to-day basis," said Steve Koniecza, 38, EO Colorado chapter president and CEO of KV Communities in Golden. "It can be ... professional issues or personal issues as well. As an entrepreneur, you've got a lot of different challenges in your life -- [more] than the average person out there."
During the forums, one member moderates as the others discuss problems and solutions.
EO wants members to step out of their management role -- not dictating solutions -- by talking only about their personal experiences.
"One thing I noticed running businesses is that it is lonely at the top," Koniecza said. "There's not a day that goes by that I don't have to figure out something brand new ... it's really nice to get together with other people who ... can share their experiences."
The Members Exchange helped Dave Kennedy, founder of match.com and owner of Alamo Draft House Cinema in Texas, as he planned his move from Dallas to Boulder in June 2004.
He posted questions to EO members living in Boulder about schools for his children and which neighborhoods were the best to live in. He said the response was huge.
"Almost every single one responded. Every single member and their spouses responded. It was just wonderful," said Kennedy, an EO member for nine years. "It was a very warm welcome up here. It was like being in a big family, a big extended family, and instantly had people we knew we could count on.
"It gave us a really good feeling about moving up here."
Patrick Condon, owner of Denver-based Finished Basement Co., has been with EO for five years. He said he regards some members as role models.
"I have a level of trust and confidence with this group that would be second only to my wife," Condon said. "There's nobody that compares -- and frankly, there's some stuff I might not even be really comfortable having a conversation with my wife about, and I can have it with these guys."
Despite different business backgrounds, Condon said his forum has helped his company to succeed.
"When I first entered EO, we were unprofitable and kind of just barely flicking along," he said. "Now we're doubling our growth every year and our profits are way up, we're opening up offices all over the country and it has really opened my eyes to what is possible."
The current group of applicants includes Rick Higgins, 33, owner of Denver wealth management firm WealthTouch. An acquaintance introduced him to the organization six months ago. He said he wants to join EO because there are others in it like himself.
"I have a pretty strong group of friends, but most of them are not necessarily entrepreneurial in nature," Higgins said. "It's hard to find people who can really relate on a business perspective to a lot of the trials and tribulations of being an entrepreneur ... I'm pretty excited about it actually."
