When you become a member of the EO Charlotte chapter, you gain access to a wide variety of customized benefits intended to help you grow your business and become a better leader.
You have hit a “ceiling of complexity” and you’re looking to take your business to the next level.
You want a personal and professional Board of Directors.
You seek relentless growth & self-improvement.
Your family, friends and neighbors have no idea what you do or don’t understand you.
You want access to once-in-a-lifetime experiences.
You want to run a better business!
MEMBER BENEFITS
MEMBER QUALIFICATIONS
ELIGIBILTY: To be an EO Member, one must hold one of the following positions in a Qualifying Business*:
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Founder (definition): a person responsible for the formation of the specific business enterprise, company, corporation or partnership either individually or jointly who, at the inception of the business enterprise, company, corporation or partnership was either an Owner, General Partner, Majority Shareholder or Actively in control.Majority Shareholder (definition): a shareholder in a corporation owning more than 50% of the issued and outstanding voting common stock in the company.Actively In Control (definition): (1) having sole or predominant day-to-day management duties at both an operational and/or strategic level, as well as an ownership interest in the business enterprise, company, corporation or partnership; or, alternatively, (2) a trustee of a trust in which the trustee is also a beneficiary, where the relevant business enterprise, company, corporation or partnership, or a controlling interest in the relevant business enterprise, company, corporation or partnership, is an asset of the trust.
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Owner (definition): a sole proprietor of an unincorporated business, or sole shareholder of a corporation.
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Controlling Shareholder (definition): a shareholder in a corporation with either voting control of the corporation or effective control of the corporation through the exercise of management rights/general partner with managing duties. Where the business is organized in a form other than a corporation, this term should mean the equivalent for that form of business structure.
QUALIFYING BUSINESSES
A Qualifying Business is a business with an annual gross turnover of sales, or annual commission billing equal to or above such minimum levels as may be set from time to time by the Board, (1 million USD currently) which is “for profit”, and which is not a Venture-Backed Company, or a Venture-Backed Company as per EO’s criteria for such companies (given below).
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For a venture-backed company to fall within the definition of Qualifying Business, the company shall have privately raised funds of at least US $2,000,000 or publicly raised funds of at least US $5,000,000, and a minimum of 10 full-time employees. Members with venture-backed companies are exempt from meeting the other Qualifying Business criteria, for a period of three (3) years. However, by the end of the third year of membership, the venture backed company’s gross revenues or annual commission billing shall meet the Qualifying Business criterion.
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EO’s Policies and Procedures say “…the applicant’s qualifying business shall have an annual gross turnover of sales, or annual commission billing equal to or above such minimum levels.” meaning selling one million-dollar house does not qualify a prospect for membership but earning US$1 million in commission from selling lots of houses for their own business would.
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Membership qualifications for non-profit entrepreneurs include:
Non-profit entrepreneurs must be the founder, co-founder, owner or controlling shareholder of an organization with an annual operating budget of more than US$1,000,000 and at least 10 full-time employees.
Funding sources may include membership dues, the sale of goods and services, philanthropic foundations, grants from local, state and federal agencies, and private donations.
All Non-Profit prospects shall comply with the application process required by a for-profit prospect.
Age Criteria: There is no age criteria currently to join EO, and a member cannot “age out.”