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By Cynthia Hanson - April 12, 2004 The organizations give carefully selected members a chance to develop professional relationships and exchange ideas, information, referrals and leads for new business. The results are valuable connections that can transform young executives into movers and shakers. Young Executives Club of Chicago Seven years ago, when Jason Ornduff was a new associate at law firm Eckhart McSwain Silliman & Sears, one of the partners advised him to seek networking opportunities outside legal organizations. He's glad that he did. Earlier this year, Mr. Ornduff, now 33 and a partner, brought in a major client, thanks to a referral from a fellow member of the Young Executives Club of Chicago (YEC). "If it weren't for this referral, I wouldn't have had access to a client with a multimillion-dollar estate at this point in my career," says Mr. Ornduff, who concentrates in estate and trust law, and is executive vice-president of YEC. "I'm getting a jumpstart on bigger and better opportunities because of YEC." Heather BERHOFF, a mortgage consultant with Aim Mortgage Corp. in Skokie, agrees. In the past year alone, she has picked up 12 clients through referrals from her contacts in the club. "My business is strictly referrals. I do no advertising, no cold-calling, no telemarketing," says Ms. BERHOFF, 28, who serves as YEC's special events coordinator. "In a business where you're building relationships, nothing is better than face-to-face time with people who are willing to network."
Each month, YEC hosts a CEO Luncheon, giving members access to business leaders they might otherwise never have the opportunity to meet and question on issues, including balancing work and family. Recent guest speakers have included Linda Wolf, chairman and CEO of Leo Burnett Worldwide; James Goodwin, former chairman and CEO of UAL Corp., and Marc S. Schulman, president of Eli's Cheesecake Co. Prospective members must have at least five years of business experience and be on the executive or professional track within their companies. Additionally, they must attend two YEC events and get sponsored by two members. Annual dues are $125, and there's a $75 initiation fee. "It's competitive to join — we have turned down some people — but we're always looking for new members," says YEC President David Burden, 33who is first vice-president of brokerage services for CB Richard Ellis Inc. in Chicago. Beyond referrals for new business, members also gain insights into career management through informal discussions with each other. When he was working toward his goal of making partner at his firm, Mr. Ornduff turned to older lawyers in YEC for advice. "You can talk about what it takes to be a partner during performance reviews with your boss, but it's a different animal when you have more casual conversations with people who don't have control over your future," he says. "It's been beneficial for me to bounce ideas off of YEC members." Young Entrepreneurs' Organization For the past five years, Marsha McVicker has worked day and night to build Errand Solutions, a Chicago-based outsource provider of concierge and convenience services for the health care and hospitality industries. Today, her company has 43 employees and annual revenues in excess of $2 million, but along the way, she spent many sleepless nights worrying about cash flow, lines of credit and hiring decisions — all issues best understood by other entrepreneurs. "I had a hard time talking to my family and friends about the demands of my lifestyle," says Ms. McVicker, 35, whose clients include the Hyatt Regency Chicago and Vanderbilt University Medical Center in Nashville. "They didn't understand why I was getting business calls at 7 a.m. on the Fourth of July and had to go into the Hyatt that day instead of going on the family picnic. Starting and growing your own business can be a profoundly lonely task." Last year, Ms. McVicker took a big step to end her isolation. She joined Young Entrepreneurs' Organization (YEO), hoping to meet other business owners who could offer support and share their wisdom. Says Ms. McVicker: "I really needed someone to talk to who would understand my circumstances." Founded in 1987 with 15 members, Alexandria, Va.-based YEO has grown into a global network of 5,000 entrepreneurs, with chapters operating in more than 150 cities and 38 countries. (The organization has 36 members in the Chicago area.) Members must be 39 or under and run companies that have at least $1 million in annual sales. (When members turn 40, they may join YEO's sister group, World Entrepreneurs' Organization.) Annual dues run $1,850, with a one-time initiation fee of $650. YEO, which is funded by grants, provides educational opportunities through gatherings with peers, mentoring relationships and International Universities, a four-day program offered twice a year. YEO also assigns members to local forums of up to 10 people — none of them in the same business — who meet monthly for four hours. The meetings are confidential, so participants may disclose private details of their professional and personal lives. Topics span a wide range, from how to start a sales force and deal with health insurance providers to how to hire for key positions, such as a chief financial officer. "Forum is like a business support group," says Kevin Duffy, 39, president and senior creative director for Duffy Design Works, a graphic design and Web development company in Oakbrook, and communications director of YEO's Chicago chapter. "If you have a tough business situation, you could call an emergency meeting with the group, and they'd drop everything to help you through an issue." Members say that they learn from others' experiences. Take the case of David Duerr, 38, who joined YEO nine years ago when he was running Workspace, a marketer of contractor office furniture. Mr. Duerr's peers repeatedly emphasized the importance of investing in an annual financial audit, and with reluctance, he followed their advice. "For an entrepreneur, it can be hard to stomach spending $20,000 a year on that, but my peers said that if I went to sell my business, it would send a signal to the acquiring company that there was no fuzzy math with the numbers," says Mr. Duerr, now CEO of Focus Equity Partners, a private equity firm in Oakbrook. "I wouldn't have known that if it weren't for YEO." (In 2001, Mr. Duerr sold Workspace, with annual sales of $15 million, to Boise Cascade Corp. He refuses to disclose the sale price.) As for Ms. McVicker, she has reaped multiple benefits from YEO. In the past year, Errand Solutions' sales have increased 70%, in large measure because her peers encouraged her to hire a director of marketing and recommended ways that she could prioritize her time to better attract new clients. On a personal note, her stress also has plummeted. "I'm a happier person today," Ms. McVicker says. "It's been such a relief to know that at any time I can call my peers with a concern or an issue, and they'll help me work through it."
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