The Entrepreneur Circle 2009 Award Winners

Congratulations to our 2009 Award recipients

Voted in by their peers, these 3 Business Owners will be honored at our annual Holiday party December 15.

The Entrepreneur Circle Entrepreneurial Success Story:  

This award goes to The Entrepreneur Circle Member that has demonstrated the most entrepreneurial spirit.  
1.      Most creative idea
2.      Followed their business/plan
3.      Turned a concept into reality 

Susan Nolte, owner of May Cookie Company was bitten by the “Entrepreneurial Bug” several years ago, but it wasn’t until May 2008 that she began to put the pieces in place to launch May Cookie Co. Prior to starting her own enterprise, she spent 12 years in HR as a Recruiter and Recruiting Manager for two different staffing firms. The earlier part of her career was spent in Education, first as a teacher and then in the development and management of professional development programs designed for educators. She holds a BA in Education and Psychology and a Masters in Organization and Management. She loves being a business owner!

The Entrepreneur Circle Member of the Year:

This award goes to The Entrepreneur Circle Member that achieved/exceeded their business goals for 2008.
1.      Demonstrated business growth
2.      Accomplished set goals
3.      Innovative thinker
4.      Persistence/Drive

Gregory D. Guay, founder of Stellar Ventures, graduated from the University of Connecticut (Magna Cum Laude) with a degree in Finance. He possesses extensive experience in commercial lending, portfolio management and merchant banking. As a former Associate with Venture Partners, Ltd. (a private investment and merchant bank), Mr. Guay managed the firm’s merchant holdings as well as its loan portfolio. His responsibilities included, but were not limited to, financial modeling, development and implementation of turnaround strategies, due diligence investigations, asset-based lending and problem resolution.

Prior to joining Venture Partners, he was a Vice President with DAP Financial Services (a commercial finance company that specializes in non-prime borrowers). During his tenure, Mr. Guay evaluated portfolios of both non-performing and sub-performing commercial debt and managed 300% growth in the portfolio over two years; at the time of his departure, he was managing a $30M portfolio.  

He also specializes in negotiating critical business transactions, which include mergers, acquisitions, divestitures, license agreements and long-term leases. He has represented creditors, debtors and investors in both debt and equity transactions. In addition, Mr. Guay has drafted various forms of business plans, private placement documents and other securities offerings.

The Entrepreneur Circle Champion of the year:  

This award goes to The Entrepreneur Circle Member that went above and beyond the call of duty to help out others.  
1.      Accessibility to members in need of advice
2.      Mentoring
3.      Support

Parker Elmore, President & CEO of Primoris Benefit Advisors, Inc.  Parker has been in the employee benefits consulting field for over 20 years.  In 1998, Parker realized that many small to mid-sized organizations were struggling with the complexity of their employee benefit programs. He founded Primoris Benefit Advisors to simplify their programs without forcing them to accept simple or “one-size fits all” solutions.  Rather, he decided to scale the solutions he had seen in the large organization market and find ways to deliver them to all.  He began with traditional retirement plans and expanded to include 401(k) plans in his offerings.  Primoris Benefit Advisors has continued to evolve by offering various insurance services and valuation of medical plans for municipalities.  With well over 200 clients in 37 states, the company continues to grow. However, the mission remains the same – provide custom solutions with simplicity to all types of clients.

Event Details

Peer Advisory Board: Assigning Roles Part 5

To recap over the past few months we have been talking about how to assemble a Peer Advisory Board.  We discussed choosing the members, commitment, the importance of a pre-set agenda, and discussion protocol.  This post will discuss the different roles that are important to your board.

Every board is started by someone.  This person took the initiative to put the group together.  Although, possible for the individual to continue to take responsibility for the group, it isn’t beneficial to the leader or the group.

The board benefits all participants, therefore all participants should take responsibility for some part of the work.

When one person is doing all the work, they can start to feel underappreciated.  The group may become less committed or interested in it’s success, not to mention the load of the responsibilites are much easier to bear when everyone helps.

Below is a breakdown of the roles we have found work.

Facilitator:

      1.  Facilitate the meeting

                   A. Meeting Opener

                   B. Keep conversation on track

                  C. Keep all members participating

                  D. Make sure all members have the opportunity to present

                  E. Talk to members who resist presenting or causing disturbances

                  F. Create comfortable environment for all

                                    a. Member attitude

                                    b. Member participation

2.  Meeting location

3. Meeting Schedule

4. Check in with Presenter

5.  Prepare meeting agenda

6.  Bring Charter and signed confidentialty agreements to the meetings

Facilitator Elect:  takes on the role of facilitator at the meeting when the current facilitator is presenting.

Presenter: (All members)Prior to the meeting: Prepare their topic to discuss with the group. Meet with their buddy/coach, by phone or in person.

Buddy/Coach: (All Members) Meet with presenter before meeting.  The role of the buddy is NOT to offer any advice to the presenter during the preparation meeting.  Help them prepare for the discussion and clarify their issue.

Time Keeper:  Give warnings as time elapses and notices when time is up.  Keep meeting running on schedule.

Discussion Protocol Observer: Give notice and assistance when the discussion protocol is violated.

Secretary:  Take notes on any changes to the schedule, charter, agenda, location, etc…  Please note, confidential conversation should not be documented, published or distributed due to risk of confidentiality breach.

Treasurer:  Collect monies from the group.  Money may be collected for expenses, dues, charter breaches, ect…

The presenter and coach are ongoing roles for all members.  The other roles should be assigned term limits and rotated evenly.

Next time we will discuss confidentiality.

Peer Advisory Boards: Discussion Protocol Part 4

In order for your Peer Advisory Board to be effective, 3 very important things need to occur:

1. Communication
2. Listening
3. Action

This becomes a delicate balancing act.  In order for true change to occur all three must take place. 

 com·mu·ni·ca·tion (k -my n -k sh n)

n. 1. The act of communicating; transmission.  2. a. The exchange of thoughts, messages, or information, as by speech, signals, writing, or behavior .b. Interpersonal rapport.

lis·ten (l s n) intr.v.

1. To make an effort to hear something    2. To pay attention; heed

ac·tion ( k sh n) 

1.  The state or process of acting or doing  2.  Something done or accomplished; a deed.  3.  Organized activity to accomplish an objective  4. The causation of change by the exertion of power or a natural process

Communication is relevant for both the individual presenting his/her situation and the board members contributing to him/her. 

The Presenter

The Presenter should be clear on his or her objectives and outcome.  They should come to the meeting prepared to state his/her challenge or opportunity.  We recommend that the presenter write out their situation, then meet with someone from their board (buddy) to help them clarify the issue at hand.  Preparation in advance allows the most success for the presenter.  Once the presenter has presented their issue, their job is to listen, create an action plan, and take action.  Without action, the presenter will not be able to affect change, and attain results.

The Group

It is essential that the group come prepared to help the presenter create an action plan.  They should also come with the understanding that the presenter is the focal point of the discussion and may start to feel overwhelmed, defensive, or uncomfortable if they are given too much information or advice.  We find the best results occur when the board communicates through sharing experiences, and asking questions.  It is also important for the board members to intently listen to the presenter through their verbal and non-verbal clues.   It is the job of the Board participants to support and help the presenter feel secure enough to present their situation.  The group is not there to judge the presenter or “fix” the problem.  They are there to listen and provide useful information so that he/she may form their own plan of action on their terms.  We have been given advice and told what to do our whole lives, we have a book shelf full of books, and have had encountered many folks that are more than willing to tell us how we should do something.  In my experience the true change comes from the personal decision to take the action, the best action plan is the plan created by the individual.  Therefore it is the responsibility of the board to help the presenter create his/her own action plan, and hold them accountable to take the necessary steps.

All parties come to the table with the intention to help one another grow, change and see their business in a different way.  This can and does occur when the parties involved come to the table ready to communicate, listen, and take action.

Next time we will discuss the importance of assigning roles.

Previous entries

Choosing the members of your Board

Commitment

Organization

Peer Advisory Boards: Pre-Set Agenda Part 3

We have been providing the step by step guide to creating your own peer advisory board.  This post is dedicated to the importance of a pre-set agenda.  The last post was dedicated to commitment

Important meetings have an agenda.  Your Peer Advisory Board meeting is an important meeting.  The Agenda is the guide to how the time will be spent at the meeting.  Going into the meeting without one may lead to time spent unproductively.

There is a fine line between the Peer Advisory Board and a Coffee Klatch.

Coffee Klatches have their place in the world; they are usually social in nature, a place where there isn’t a pre-set defined result in mind.  Peer Advisory Boards are all about results.

Having a pre-set agenda gives the members boundaries: A start time, end time, and in between time.

As a busy business owner it would become frustrating to rush to a meeting that frequently starts late, ends late, or doesn’t accomplish the intended goal.  Time is not a commodity and should not be wasted.  The time the business owner sets aside to attend a meeting must accomplish something.  Therefore, assign and stick to the meeting schedule.  Don’t over plan or under plan the meeting. 

Time limits in the agenda will force the group to concentrate on the task at hand and not stray in the conversation.  Assign the role of timer to someone in the group.

Be respectful of your time and the time of your board mates.  Having a pre-set agenda at your meeting will keep the group healthy and together.  Groups that are disorganized will eventually fall apart.

Next time we will discuss Discussion Protocol

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Glastonbury Chamber Announces Strategic Alliance with The Entrepreneur Circle

The Glastonbury Chamber is pleased to announce a strategic alliance with The Entrepreneur Circle.  The Entrepreneur Circle runs peer advisory boards (Roundtables) for business owners.  Roundtables are small groups of business owners that meet to discuss mutual issues and concerns they face in the running of their businesses.  The business owner gets an opportunity to share in the cumulative wisdom and experience regarding the true nature of owning and operating a business.  The Roundtables convene under the guidance of a trained facilitator and follow a defined process that is designed to produce measurable value for the participants.

Fast Company Magazine recently discussed a poll of business owners that participate on peer advisory boards.  64% reported an increase in bottom line profitability.  56% reported an increase in top line sales.  And 60% reported an increase in productivity.  The Roundtables help the business owner enlarge the view of their business, improve their mission and strategy, and discover new ideas they haven’t considered before.

“Having participated in several peer discussion groups, I have found The Entrepreneur Circle’s structured format to be one of the best places to discuss business issues.  My participation in the group has had a measurable impact on the continued success of our organization”.

David Wood President Gateway Financial Group, Inc. (Glastonbury Chamber Member)

The Entrepreneur Circle is offering a 20% discount on annual dues to Glastonbury Chamber members.  For eligibility guidelines and information on membership, please contact The Entrepreneur Circle at 860-432-4490 or info@theEcircle.com