Detroit-area Entrepreneurs Organization lets business leaders share ideas

by Lara Mossa | Oakland Business Review

Thursday July 31, 2008, 5:30 AM

Frank Firek Jr. was used to having a partner for his $5 million program management and distribution company. But when his father, also named Frank Firek, retired last year, he needed some extra guidance.

So Firek Jr., along with 90 other business owners in the Detroit area, joined Entrepreneurs Organization, a 21-year-old global group geared toward helping business owners succeed.

To join, there are three basic criteria, said Todd Palmer, incoming president for the Detroit chapter:

• Members have to be a founder or managing partner, meaning they have 25 percent or more ownership in a business;

• They have be 50 years old or younger;

• And the business has to generate $1 million or more in revenues.

The group is looking for million-dollar companies because businesses earning less face a different set of problems, Palmer said. The age criterion was actually changed from 40 and under to 50 and under a few years ago to expand the membership, he added.

LEARN MORE To get more information about Entrepreneurs Organization: • Call Todd Palmer at (877) 867-8233, ext. 5235. • Visit www.eonetwork.org.

Palmer, president and founder of Diversified Industrial Staffing in Troy, joined five years ago. After becoming active, his business grew 121 percent during a three-year period, he said.

He attributed the sales increase primarily to his change of the company from a generalist to a niche business. Diversified Industrial Staffing specializes in finding qualified candidates for manufacturing jobs. In 2007, the business took in $3.9 million; it projects $5 million this year, he said.

The Entrepreneurs Organization "brings a bunch of rugged individualists together," he said. "It creates an environment where members are able to grow and learn by interacting with each other."

The group is structured similarly to trade groups, with social events and board meetings. But the main thrust of the organization is the division of members into peer groups, known as forums.

One difference between Entrepreneurs Organization and a trade group is that members won't be talking to other members' competitors, Palmer said. Thirty different industries are represented in the Detroit chapter, and business owners are broken into forums of eight to 10 people. They meet monthly and are matched to prevent competition.

It's not a group for sales representatives, and it's not a chamber of commerce, he added.

Firek Jr. joined two years ago, and although he has not seen an improvement in sales, he has gained insight from the peer-to-peer program.

"My sales would be up if the automotive volumes weren't down significantly right now," he explained.

Firek's company, MYCO Enterprises, supplies fabricated steel components to the automotive industry. The Novi-based business manages the distribution of supplies to manufacturing facilities in the United States and Mexico.

So far, his membership in Entrepreneurs Organization has given him peace of mind to know other business owners have had similar challenges, he said, and has changed the way he quotes jobs and manages his employees.

"It's really like a board of directors, people who have gone through similar experiences," he said. "We bounce ideas and issues off each other."

Based in Alexandria, Va., Entrepreneurs Organization has 7,000 members worldwide. Businesses in the 14-year-old Detroit chapter range from $1 million to $50 million in revenues and have an average of 14 employees. There also is an affiliated program called the Accelerator, which helps small business owners grow their companies to $1 million in revenues.

"I became a smarter entrepreneur, a more well-rounded entrepreneur, a better business owner," Palmer said.

As for Firek Jr., no one can replace his father, but he's gotten to know some members well enough that he can call on them for advice.

"The whole point of my forum group is to be able to speak openly about anything," he said. "You can lay all the cards on the table."

Lara Mossa is a freelance writer.