Entrepreneurs’ Organisation (EO) is a global network exclusively for entrepreneurs – those for whom success in business has become a way of life. A key objective of the platform is to help transform the lives of those who transform the world, Regional Director, South Asia, EO, Chiranjiv Patel tells Anshul in an interview. Excerpts:
Q. What is Entrepreneurs' Organization and how does it help entrepreneurs in transforming their lives professionally and personally?
A. Entrepreneurs’ Organisation (EO) holds true to its vision - “to build world’s most influential community of Entrepreneurs”, through a one-of-its-kind networking platform for entrepreneurs that fosters learning, sharing and growing together. Apart from learning and drawing from experiences of renowned speakers, as well as from regional and global events, I feel the most impactful take away comes from peer-to-peer interaction.
The reason I feel this organisation is among the world’s most inspirational is because of its asset and driving force: the members. EO is member-led and the passion and ownership that members have make EO unique.
EO offers its members unique once-in-a-lifetime kind of experiences, through its ever-evolving out-of-the-box regional and global events. EO Events open opportunities for entrepreneurs to learn at the chapter, regional and global level. Mega EO Universities are held twice annually, around the world. Entrepreneurs build lifetime relationships through the forum experience. These experiences enable personal and professional transformation in every member’s life. The forum is a unique platform where member’s complete professional and personal life is presented every month to his/her forum members, who are the most confidential board of directors for the member.
Through the strategy summits that a member leader gets to experience in this organisation, comes a wealth of knowledge that he or she can implement in his or her business.
With its 360-degree learning programmes, EO has been of phenomenal value to me, not only in my learning as an entrepreneur but also in terms of peers, networking and personal growth. It has also allowed me to take my family along on this journey. From the minute to the biggest challenges, this organisation and my peers have immensely helped in transforming not only mine but every member’s life professionally and personally.
Q. What do you mean by peer-to-peer networking"?
A. EO is exclusively for entrepreneurs, by entrepreneurs and is designed to help them learn and grow together. This simply means learning and growing with the members who are the true pillars of the organisation, and who share and experience the different learning modules with them at various levels. The highest learning that has come to me is through my peers, by meeting, by discussing, by sharing, by learning, through experiences. The kind of support that I have got from my peers across the world whenever I have travelled cannot be described in words. These members have a pool of knowledge, success, experience and achievement in their own different fields.
Through these interactions, I have grown a lot professionally as well as personally. The level of commitment and camaraderie from peers is priceless.
No other organisation across the globe, as far as I go, can deliver such experiences. I speak from my personal experience that the support a fellow member is always ready to extend is above all.
Q. Does EO have any programmes for upcoming start-ups?
A. EO runs this phenomenal programme called EO Accelerator, where we encourage early-stage businesses ( a quarter of a million dollars to sign up. This program offers all critical tools and resources that help the participants to exponentially grow their business and cross the one-million-dollar gross revenue mark. These tools and programs have been built by entrepreneurs for entrepreneurs. This involves coaching, mentorship, and world-class content along with pro tips from industry experts.
Q. The traditional economy is rapidly changing into digital; how do organisations like EO help entrepreneurs prepare themselves for the digital era?
A. With the demonetisation effect, the economy has definitely moved towards digital. While most of the transactions are now happening online, EO already had a system that was supporting online transactions. EO has, for quite a long time, had an online system for most of its activities -- events, participation, payments, applications, conferences and such like; hence, the internal system in EO as an organisation and its members have not been impacted much.
Organisations like EO will definitely make sure that there is an online support system to help entrepreneurs stay connected in the same way as before, making sure that demonetisation will not impact its members. Being able to discuss with peers and each one reaching out to help the other has been invaluable, in this transition. EO will likely introduce a system or a learning programme to make sure that they are prepared for any move towards the digital era. We have had several speakers speak to us on this topic.
Q. What is your view on India as a destination for entrepreneurs/start-ups?
A. The new boost to the start-up sector in India has opened many doors for entrepreneurship development; this is true especially for technology start-ups. There is a lot of potential with a huge talent pool in this country. However, the youth need appropriate guidance and proper incubation centres to make sure that talent is channelled in the right direction, with proper guidance.
Also, with the Indian government itself being supportive with flexible compliances, tax harmonisation, exemptions, enhancements and such other benefits to the start-ups, India is definitely now becoming a destination for the start-up sector. However, when you look at the figures of 2016, about 250-plus good start-ups that had established a good reputation with finance, had to shut down. This indicates that even though India is a great destination for start-ups, the upcoming entrepreneurship development will only shape up if it has properly collaborated with the experienced and matured entrepreneurial sectors.
Q. As the Regional Director of South Asia, what is your agenda for the next fiscal year?
A. It gives me, even more, opportunity as well as the responsibility to ensure that the region grows and contributes globally. My objective is to turn our ideas into initiatives that benefit our members/ fellow peers and the organisation as a whole. This needs to be done staying close to our strong set of EO core values that define us. As a leader, I need to contribute my best to achieve the highest level of growth for the South Asian Region.
I would like to share, that we as a region will achieve or are already in the process of achieving initiatives planned towards greater member value some agendas. One such is the all-Woman RIE, the focus is to increase spousal engagement and women entrepreneurship in the region. EO also organised more than 15 strategy summits with the board members of the chapters in the region -- from connecting the entire region with the regional newsletter ‘EO Post’ to be sent out to 1,200 members quarterly, to coming up with one of its kind Kids RIE (Regional Integration Event) ever in the region. EO successfully introduced the New Member Regional Integration Call (NMRIC) for the first time ever in South Asia and is planning to launch new chapters in Sri Lanka, Goa, Navi Mumbai, and many other places very soon.
A few other initiatives of EO will include hosting multiple learning activities like the University of Hyderabad. This University is coming back to South Asia after 8 years and will be showcasing Hyderabad to global member entrepreneurs and will include workshops, stalwart speaker sessions, offsite centred around learning for personal and business growth. All EO events are member only events. In October 2017, the mentorship programme and accelerator programme launches, and bigger & better GSEA (Global Student Entrepreneurs Awards) regional finals at Gujarat. GSEA program is EO's give back program to the entrepreneurial ecosystem. We encourage student entrepreneurs' to participate and compete for the global award. The finalists from 50+ countries will compete at the global event in Frankfurt in may. All participants get the benefit of mentorship, recognition and connections to take their businesses to the next level of success. Entrepreneurs Organisation's mission for our GSEA program is to inspire students to adopt entrepreneurial endeavours by bringing global visibility to undergraduate business owners whose companies are innovative, profitable, socially responsible and adhere to high ethical standards.
