Inside Australia’s secret million-dollar entrepreneurs club

It's one of Australia's most exclusive clubs for founders and business owners, but anyone with passion and drive has the chance to apply for membership.

Atlassian co-founder Scott Farquhar, Pet Circle founder Mike Frizell, and Kikki.K founder Kristina Karlsson are notable former members. Whilst a current member list is not publicly published, it includes some of Australia's best-known and most celebrated entrepreneurs and business owners.

The club is Entrepreneurs' Organization (EO), a global network of 19,000 ambitious business owners across more than 80 countries, including over 800 members across Australia and New Zealand.

To become a member, you just need to start a business and achieve over $US1 million in revenue. But even then, that won’t guarantee that your membership will be approved.

EO has six chapters across Australia and New Zealand - EO Melbourne, EO Sydney, EO Queensland, EO Perth, EO Adelaide, and EO New Zealand.

Laiken Kerr Clarke, former Director of MediSound, joined EO in 2020 and hasn’t looked back since. “EO has been a constant source of inspiration and motivation throughout my journey as a business owner,” Clarke says. “Surrounding myself with fellow entrepreneurs has exposed me to diverse ways of thinking and problem-solving.”

EO also hosts national and international conferences, holds regular social events, and features guest speakers like Paris Hilton, Alan Joyce, Kristina Karlsson, Michael Klim, Gabby Leibovich, Verne Harnish, Marc Randolph, Sir Bob Geldof and international bestselling author Ryan Holiday.

Entrepreneurship can be isolating, but Clarke found EO a constant source of personal and professional growth. “One of the biggest challenges I've faced is navigating the doubts that often accompany decision-making. Being part of EO means being among individuals striving to optimise their own paths and contribute positively to the world,” she says.

While membership fees vary according to each chapter, they typically range from AU$7000 to $8000 annually, with a one-time joining fee of a similar amount upon acceptance. However,  members like Clarke believe it's a worthwhile investment. "There isn't a single ‘right’ way to do things. Through EO, I've come to realise the multitude of approaches available for tackling any given problem," she shares.

EO Melbourne President Costa Vasili, founder and CEO of multicultural communications agency Ethnolink, echoes this sentiment. "For me, EO has been by far the single best investment in my business that I've ever made. It's paid itself off in spades," he explains. "I've made lifelong friends, learned more than I could ever imagine, and felt supported and connected on what is sometimes a lonely journey of entrepreneurship. Knowing there's a like-minded community of people who've been there to support me since 2016 has undoubtedly been a source of strength. It has given me hope and allowed me to reach my full potential as a business owner."

EO is committed to fostering diversity within its ranks. With the average age of members at 42 and women comprising 22 per cent of the membership, the organisation is actively working to increase representation. Vasili shares, "I'm really passionate about increasing the diversity of our membership. As someone who started a business at 20 and is now 33, I love to support younger, upcoming business owners. Diversity in all aspects, including gender, age, culture, language, experience, professional background, and sexuality, is incredibly important to me as well.”

Aside from its membership, EO's Accelerator program supports businesses with over $250,000 turnover, helping them scale to the million-dollar mark. Ryan Spaccavento, founder of Coffee on Cue, joined the program and graduated from EO Accelerator within two years.

Spaccavento, who has been growing his event coffee and roasting company, found EO to be an invaluable resource. After completing the Accelerator Program, he joined EO as a member. "Having gone through the Accelerator Program in two years, the support and growth that I have experienced through the community have been amazing. I see EO as a place where I can continue to grow as both a human and an entrepreneur," he shares.

Entrepreneurs' Organization offers a unique blend of support, networking, and learning opportunities. It's a place where like-minded individuals come together to overcome challenges and celebrate successes. If you're an entrepreneur ready to take your business to the next level, EO might just be the family you never knew you needed.