June 14, 2005--The Young Entrepreneurs' Organization and World Entrepreneurs' Organization (YEO/WEO) announced Monday that it would now be called, simply, the Entrepreneurs' Organization (EO).
Both YEO, a peer group for entrepreneurs under 40, and WEO, the equivalent for those over 40, will remain intact under the EO umbrella. The new internal structure will unify the chapters and grant members to mix with entrepreneurs based on connections beyond just age.
"Internally, there was a lot of conversation about the division. One was no better than the other," says Jamie Classen, an EO spokesperson. "So rather than create further division, it's easier to say we are one. The chapters were saying to us: 'We are one."
Besides internal consensus by members, executives felt the need for the change since describing the difference between the two organizations while explaining they were essentially one was challenging.
The organization started to reevaluate its mission, vision and brand name about three years ago by establishing committees and asking for feedback from its 5,500 members. Now with a new CEO, Nancye Miller, who has been on board since March, the company has a fresh look.
"A lot of (the change) has to do with our vision to build the world's largest community of influential entrepreneurs," Classen says. "We discovered the way to be influential around the globe was to build brand recognition. If no one knows your name, they don't care about your purpose."