The Young Entrepreneurs Organization (YEO) was formed in 1987 to provide support and guidance to entrepreneurs. It rebranded itself as Entrepreneurs’ Organization (EO) in 2005. The organization focuses on mentoring, networking, and education. Membership standards include being a leader of their own business, earning over $1 million annually, and being under 50 years old.
The Young Entrepreneurs Organization (YEO) is a professional organization designed to provide support and guidance to entrepreneurs. In 2005, the organization rebranded itself as Entrepreneurs’ Organization (EO), but some people still know the group by its old name. There are also a number of professional and mentoring organizations with similar names, such as Young Entreprenuer Organizations on numerous college campuses and Young Entrepreneur Associations aimed at high school students. Despite the similarities in their names, these organizations are not related to the original Young Entrepreneurs Organization.
In 1987, a group of entrepreneurs came together to form the Young Entrepreneurs Organization. They were responding to changes in the business climate which resulted in an increasing number of individuals setting up their own business, rather than seeking employment at established companies. The founders recognized that many entrepreneurs could benefit from support as they set up their businesses and tackle the challenges that came their way, from hiring practices to sourcing vendors.
Several different areas of practice have been identified as priorities by the Young Entrepreneurs Organization. One was mentoring, which used established entrepreneurs to provide advice and assistance to members. Mentoring can include activities, such as panels, to discuss common business issues, as well as one-on-one interaction with business owners. Some of the mentors were once members of the Young Entrepreneurs Organization itself, and many have extensive experience.
Another area of interest is networking. In the business community, networks can make or break a company. By joining a professional organization, people have instant access to networks that can provide contacts and other resources. Social events offer business networking opportunities, and these networks can also be used for charitable activities, such as fundraising.
Opportunities for education are also provided to members. Global tours offer people the chance to see business practices in other nations, interact with members in a variety of industries, and help people develop new business practices and techniques. Members can also attend seminars and workshops and read trade publications. Education helps individuals learn how to run their businesses effectively while expanding business capacity and developing connections and bonds with other members.
The membership standards for the employers’ organization are periodically changed. As of 2010, members had to be leaders of their own businesses, earn more than $1 million (USD) annually, and be under the age of 50. Members are also required to pay annual dues.
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