EO Melbourne holds more learning events for its Members

EO Melbourne Member Benjamin Trinh (left) shared his “Deal of a Lifetime” during a learning event. The event was hosted by fellow EO Melbourne Member Dean Cherny (right).

A virtual “Points Hack” workshop, a talk on a “Deal of a Lifetime”, a Learning Day on Cash, and a Trainual virtual workshop. These are just some of the recent events that EO Melbourne has organised for its Members and those in its Accelerator and Key Executive programs.

Living up to its core values of “Thirst for Learning” and “Together We Grow”, EO Melbourne continues to bring to its community thought-provoking learning events that can benefit them in their growth and development.

Never fly Economy again: A Virtual 'Points Hack' Workshop with iFLYFlat

Steve Hui, Founder and CEO of iFLYflat and also known as Australia's Points Whisperer, shared with event attendees how they could turn their company into a points-generating machine and never fly Economy again.

Business owners sit on a gold mine of opportunity to use points to fly Business Class saving between $2,500 and $5,100 per trip. The fastest way to earn millions of frequent flyer points is using credit cards to pay company expenses.

His workshop allowed the participants to learn how to earn maximum points for the lowest fees and understand the numbers behind the calculations that prove the value is worth doing, select the best business credit cards, redeem points and know which points to use per destination, and many other hacks that are helpful to entrepreneurs.

The deal of a lifetime: How Ben Trinh started, scaled and sold his business to a billion-dollar company

Benjamin Trinh, Life Ready Health Group CEO, current EO Melbourne Member, and former EO Melbourne Board Member, shared his journey from when he founded his business with only $10,000 as capital, how he grew it to over $50 million in revenue and eventually sold it to one of Australia's largest private health insurance companies — in the deal of a lifetime.

The deal resulted in 12 of his friends, early investors and key employees becoming millionaires, all the while remaining as a Director and the CEO of the business.

Ben also talked about his highs and lows, as well as mistakes and wins. He also unpacked the key principles, strategies and mindsets that go into starting something that will grow and endure.

"Get your business out of your brain" Trainual virtual workshop

Chris Ronzio, Founder and CEO of Trainual, discussed how organisations could put everything about their business in one place, making it easy to cascade all the information to their teams and get them on board faster than they can imagine.

The “Get Your Business Out of Your Brain” Trainual virtual workshop enabled attendees to learn actionable tips on how to start documenting and delegating what they do so that they have time to do more of what they love. Audience participants had the opportunity to take part in exercises and Q&A with Ronzio and walked away with the ability to start building their own playbooks with the digital companion worksheet.

These learning events imparted to EO Melbourne participants hacks, tips and key insights that could help them in growing their businesses and take advantage of opportunities around them.

The importance of mentorship in the entrepreneurial journey

The entrepreneurial path can be quite daunting for those who are contemplating to take it. But even when you’re already in the journey, there are times when the ride can be tough and you seem to be lost midway due to the pressures coming from various directions. Having a guide, someone that has been through this before, to point the way can help ease the anxiety of not knowing what lies ahead and can even be instrumental in accelerating things. This is where mentors come beneficial to one’s entrepreneurial journey.

Entrepreneurs Damian Blumenkranc, Co-Founder of Creativa, Attento, and Just Click Videos, among others, and Benjamin Trinh, Founder and Managing Director of Life Ready Health Group share that having mentors have helped them in the success of their endeavours. Apart from being on the receiving end as mentees, both have also become mentors to other entrepreneurs, helping others in their businesses as well.

“I have experience at both ends, been a mentee and a mentor many times, and planning to continue getting mentors and helping others.”

-          Damian Blumenkranc, Co-Founder of Just Click Videos

From his experience being a mentee and later on as a mentor, Damian recognises the value of mentors in one’s entrepreneurial journey. “Having mentors has been critical to my success in business. It can take years to go through the experiences and the mistakes you need to make to know what to do best in each situation. As entrepreneurs, we face new challenges daily and having someone that can guide you through those hard or strategic challenges based on their success & failure experiences can mean a life-changing difference,” he stated.

Yet, to be able to give back by guiding others has become a fulfilling experience for Damian as well, providing him with a different perspective and understanding as a business owner. “As a mentor, it is extremely rewarding to not only see your mentees’ businesses flourish, double and triple, but also to know that all those hard-earned experiences are useful beyond your realm and gives you the energy to tackle any new challenges to come, hopefully with the help of a mentor to guide you through it as well.” 

Choosing a good mentor to guide you may not be easy. But there’s no need to look too far, according to Damian. “For those that haven't had a mentor before, I think the best mentors are not necessarily those that are 100 steps ahead of you (they are great for contacts and inspiration), but those that are just 2-3 steps or maybe 3-5 years ahead of you because they will not only be able to relate better to your situation but also have fresher memories similar to what you are facing and a contemporary approach to solving your current hurdles.”

“Ensuring people have access to mentorship ensures they learn and grow within your organisation.”

-          Ben Trinh, Founder & Managing Director of Life Ready Health Group

Ben has experienced the benefits of having a mentor in shaping his growth as an entrepreneur. “When I joined EO at 23 years old, my business had barely scraped over the $1 million and Accelerator hadn't existed. Thankfully, some mentors helped guide and shape my business into what it is today,” he said.

Acknowledging the value of mentors to startup owners like him, he later went on to guide other entrepreneurs who are in the same situation he once had. As a result, Ben shared, “I participated in the EO mentorship program as a mentor for 2 years. Apart from that, I also sit on numerous advisory boards and provide help to other founders.”

Moreover, he found that mentorship done internally is also significant when running a business because it develops the people within that organisation. “Succession planning is critical in any business. Without it, businesses get stuck with young people leaving for other opportunities elsewhere. Ensuring people have access to mentorship allows them to learn and grow within your organisation. It also ensures you are replicating the strong aspects of your key people for each of your managers. In our corporate culture, we must ask, ‘who will replace you?’ This culture, combined with forum-style governance, has allowed us to scale from 3 people to now over 400 across 3 states,” he shared.

EO Melbourne Mentorship Program

EO Melbourne Mentorship Chair Dr James L Murray revealed how the chapter is working on this program to help entrepreneurs learn from others who have the experience to guide them in their journey. “This year, we have gone above and beyond to recruit some amazing Mentors from outside the chapter. Some are absolute rock stars in the Melbourne entrepreneurial community. There are also many YPO members and lots who have exited multiple times successfully.”

According to James, “Mentorship ranks as the #2 member experience after their forum. The program ranks higher than learning events, retreats and universities. For a small-time investment of only 20 hours for the year, they may meet and get to know someone who can change their life and their business forever. Also, training in how to be both a Mentor and a Mentee will serve them in all aspects of their life.”

If you are interested to know more about this program, visit our Mentorship page for more details.