Happy Anniversary, EO!
On 17 September 2024, the Entrepreneurs’ Organization (EO) celebrates 37 years of supporting entrepreneurs with the connection, tools, and learning they need to make a meaningful impact on the world.
It’s a milestone that mirrors the path of an entrepreneur at age 37: Experienced, accomplished, yet still brimming with untapped potential. Positioned as it is at the intersection of experience and opportunity, EO will continue to foster growth for the next generation of leaders.
“To EO, on your 37th anniversary, remember that the key to long-term success is perseverance. There will be ups and downs, but staying focused, learning from your experiences, and believing in your vision will always carry you through,” said Milena Radakovic, an EO Calgary member.
In the spirit of our collective Thirst for Learning, we asked members to reflect on the most significant life and business lessons they learned by age 37—but wish they had known sooner. Here’s what they shared:
1. Cherish Your Health
One of the most vital lessons echoed by members is the importance of both physical and mental health. Jess Lam, co-founder of Kaiterra and a member of EO Beijing Metropolitan, shared:
“Before joining EO, I was told how important health was to an entrepreneur; without it, there isn’t enough stamina for business success. A huge shout-out to my Forum mates, friends, and family for reminding me to carve out time to take care of my mind and body. Entrepreneurship is a marathon indeed!”
2. Practice Kindness and Connection
For Rani Dabrai, founder of Moneypenny Group and an EO Ireland member, the power of kindness in business became clear over time:
“I learned to start every conversation by asking, ‘How can I help you?’ and mean it. Expect nothing in return. Go out of your way to help. This approach came back to me over the years in countless positive ways I never could have imagined. Business is a cycle, and as entrepreneurs, we will probably start again at some point. You never know who you’re going to meet and under what circumstances. Keep giving, keep being kind.”
3. Build the Right Team
A key to entrepreneurial success is having the right people by your side and knowing how to leverage their strengths. Tom Rauen, an EO Iowa member and founder and CEO of 1-800-Tshirts.com, discovered two major insights at 37:
“I discovered the true role of the visionary and integrator in a business as outlined in Gino Wickman’s book, Traction. I had no idea why I was struggling as a visionary to get ideas off the ground and get systems and processes in place. The missing link was an integrator to help take my vision and make it a reality,” Tom said.
Zahir Palanpur, an EO Atlanta member and founder of Azul Arc, realized he need to push decision-making and engagement out to his team to help build that decision-making muscle across his business:
“Many entrepreneurs feel they must solve all the problems and make every decision. However, the real challenge—and key to success—is building an empowered, accountable team that owns their roles,” Zahir said. “Letting go and allowing others to make decisions is harder than it seems, but it is essential for long-term business success.”
4. Appreciate Adversity
Adversity often teaches us the most powerful lessons. Milena Radakovic, president of Nexus Exhibits and an EO Calgary member, learned resilience through a business failure:
“By age 37, I had learned the value of resilience and adaptability in both business and life. Losing my largest client and having to close my first company was a tough period, but it sharpened my business acumen and pushed me to think differently and become more resourceful. Just three years later, I acquired Nexus Exhibits, and for the past 11 years, I’ve applied those lessons to continue to grow and evolve.”
5. Focus on Strategy
Several EO members shared strategic insights that helped them refine their businesses.
Kent Lewis, EO Portland member and founder of Anvil Unlimited, discovered the importance of effectively measuring his team’s performance:
“Early in my career, the conventional wisdom was to hire smart people and get out of their way. I hired smart people—but I did not follow through to ensure they knew how to do their jobs and had the support they needed. I managed by instinct, which cost me hundreds of thousands of dollars,” he shared. “Years later, my EO mentor advised me to ‘Inspect, do not expect.’ I implemented a weekly status update on goals, which helped me appreciate what my executive team could accomplish, where they needed support, and how often they got side-tracked or burned out and left. With that shift, employee engagement and retention soared. I just wish I’d learned it earlier, as it was a costly lesson.”
Kalika Yap, founder of Citrus Studios and an EO Los Angeles member, learned the value of focusing on recurring revenue and the power of honing in on one thing:
“By age 37, I learned the value of focusing on recurring revenue during the Entrepreneurial Masters Program at MIT, where I discovered the book The Automatic Customer, written by John Warrillow, a professor and EO member. Learning from vulnerable entrepreneurs who shared their personal journeys and the changes they made in their lives truly shifted my perspective,” she shared.
“Another profound lesson was the power of focusing on one thing. For me, that has been meditation, which I practice consistently. This daily habit has brought so much clarity and peace, helping me flourish in my personal, family, and business life with a fresh mind.”
6. Prioritize Authenticity and Self-Reliance
For Lionel Felix, founder of Felix Media Solutions and an EO Austin member, the journey at 37 was about building his own path:
“For years, I truly believed that people who ran the companies I worked for actually cared about our outcomes. By 37, I realized that the company I worked for—and the ones I had worked for in the past—had no loyalty to me and instead put profits before people. The only way I would ever work in a place that had values that matched mine would be to build my own company. So, at 37, I started what would become Felix Media Solutions, which has now grown into a US$10 million company that employs almost 30 people.”
7. Move Forward with Confidence
As EO begins its 38th year as the world’s premier organization for entrepreneurs, we do so with confidence in our purpose: To move the world forward by unlocking the full potential of entrepreneurs everywhere. EO will continue to enable transformational growth in the lives of its members. And we know members will continue to surprise, delight, and transform our world.
What better gift than to know that the entrepreneurs we support would join EO again if given the chance?
For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.
