Frequently Asked Questions
Q: What is CXO Collective?
A: CXO is redefining investing in growing businesses. We bring top people from all areas of business—executives, consultants, investors, and business owners—to buy profitable businesses and fix companies that need help. We do it in a way that uses the collective brain power, relationship power, and financing power of our Members in order to benefit all those involved in a deal.
Q: What kind of business opportunities is CXO Collective looking for?
A: CXO Collective, LLC (“CXO”) seeks businesses that are in need of opportunity & capital. We partner with entrepreneurial companies, evaluate and prepare them, fund them, buy and build them, and if appropriate, sell them. CXO Collective is looking for business owners that need guidance from experienced consulting and investment professionals to take them to the next level or provide an exit strategy.
Q: How do you select business deals to pursue?
A: CXO Collective is initially looking for profitable businesses. It is also looking for businesses seeking an exit strategy, professional consultants to help them remedy challenges within the organization, and/or that need additional capital to grow and/or prepare to sell.
Q: Who selects business deals?
A: Individual members in CXO Collective Chapters reach out through their network and business contacts to identify businesses in need of growth or an exit strategy. CXO Collective Executive Leadership will initiate a due diligence review and inform the Chapter if the opportunity is to be pursued. The Chapter bringing in the deal will be assigned additional due diligence and a final decision is made by the team assigned together with CXO Collective management.
Q: How is a business deal evaluated?
A: The Deal Committee will review the opportunity and a decision will be made to pursue or explain to a referring member why it decided to not pursue it.
Q: What is the timeframe for selection?
A: An initial review for Step 1 usually takes five to seven business days. Steps 2 & 3 can take several weeks to several months.
Q: How does the membership gain from the investment?
A: The membership is comprised of experienced professionals in a number of corporate functions (operations, finance, marketing, sales, distribution, etc.), investors, and business owners. Each category within the membership benefits by helping businesses grow with expertise, capital or both. Members can be paid for their expertise in consulting fees. Investing members can be paid in dividends or profit distribution from cash flow or execution of exit strategy. Business owners receive expert help from C-level professionals to assist in building their business and increase profitability as well as access to capital as appropriate. CXO Collective Chapter bringing a Deal participates in revenue and growth of each Deal approved.
Q: Are specific industries targeted?
A: CXO Collective will work in any industry provided they meet the initial criteria or during the Strategic Breakthrough Session, it is determined CXO Collective can provide value to the relationship.
Q: Do you partner with existing business owners?
A: Yes, we can provide a Strategic Breakthrough Session, or construct any relationship that makes sense to improve the businesses’ growth, cash position or exit strategy.
Q: What is the CXO Collective’s service offering for business owners?
A: Strategic Breakthrough Sessions, project consulting, merger and/or acquisition, partial or complete sale, succession planning, strategic partnerships, management outsourcing, exit strategy, access to growth capital. CXO Collective also provides company growth strategy, business development, marketing and turnaround strategies.
Q: What exclusions are there in selecting a business client?
A: Pre-revenue (except for limited exceptions) absolute start-up organizations, or any business not currently profitable or that can’t be determined to be made profitable in a reasonable period of time after a Strategic Breakthrough Session.
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Q: How does one become a member?
A: A candidate becomes a member by submitting a member application form and making a payment for dues and being approved for membership.
Q: What are the benefits of membership?
A: Members benefit from collaborating with peers who are professionals at the top of their field. Members benefit from applying their expertise to businesses at a fee. Members who invest benefit from the growth and sale of businesses they invest in. Members also have access to investment opportunities that they might not otherwise see or have the resources to participate in. Members will also have unprecedented access to the national membership for networking and collaboration as well as training and education.
Q: What is the cost of membership?
A: There is a one-time initial membership processing fee of $1,495. Upon approval to membership thereafter; there are monthly dues of $89, which cover the following: administration, basic education and resource opportunity as well as your food and beverage consumption at regular meetings. There are no other required fees or dues, however some optional higher education is available as well as equity opportunity for your Chapter, but there is no obligation to participate in either.
Q: What do these costs cover?
A: The one-time initial fee helps with administration and chapter resources. The monthly dues cover the cost of local Chapter meetings, most events and many of your consumables.
Q: Do the fees change? If yes, why?
A: There are no current plans to change the fee structure, but as the organization grows management may add structure and benefits and reserves the right to make adjustments warranted by the circumstances and benefits.
Q: How many members are there?
A: As of October 2013, the membership was 150 growing at 10% per month.
Q: Where are the meetings?
A: Chapter meetings usually occur in the city where the Chapter was formed. There are Chapters all over the U.S., so each Chapter holds its meetings locally. CXO Collective will publish all meetings on its website, and on social platforms such as LinkedIn, Facebook, and Twitter. A member can attend any open Chapter meeting in any city.
Q: How are the meeting sites selected?
A: Meeting sites are selected based on their accessibility and cost. CXO Collective is targeting key areas across the country that will provide access to a thriving business community and allow professionals to join in helping the business community prosper.
Q: What is done at these meetings?
A: A typical agenda might include: education, updates on the National Collective news, Chapter updates, welcome of new members, brainstorming new Deals, Deal creation, and Deal Selection. A designated CXO Collective Team member will provide an overview of the organization and engage all attendees in a dynamic question and answer period. Food and beverage are provided for your enjoyment and the opportunity to network with like-minded business professionals in your area.
Q: What is the first thing I should expect after becoming a member?
A: You will receive an email communication with access details to your “MyCXO Platform”, together with an invitation to a Welcome Call by CXO Collective Executive Team members explaining in more detail the goals of the organization. During that call, your questions will be answered about the organizational structure, how you can participate, and upcoming meetings in your area. You will soon thereafter receive emails announcing future meetings. Colleagues will likely reach out to you to participate on Committees and other events that provide an enriched member experience.
Q: Is there any investment required?
Q: Can I bring other people to a meeting?
A: You are welcome to bring other people to a recruiting meeting as long as the meeting fees are paid online or at the door prior to coming into the recruiting meeting.
Q: Do I have to join at a meeting or can I sign up online?
A: Members are welcome to signup online, but we encourage you to come and learn the mission of the organization and take advantage of the key networking opportunities at the Chapter meetings.
Q: What is the time commitment to be a member?
A: None, but realize unless you are just interested in passive investment opportunities, you will only get out of the organization what you are willing to put into it with your participation.
Q: Is there a discount for couples? Groups?
A: Yes but if a group is approved each member is charged the monthly dues as it covers what is consumed, such as food and beverage.
Q: Is there education or training for members?
A: Yes, there are many levels of training and education available. Some opportunities are free and some require nominal or discounted registration depending on the intensity and complexity of the course. For example we have “free attendance” by members at some of our “boot camps” and seminars” but non-members are charged. We also have “Strategic Breakthrough Sessions” for those that wish to lead Business Strategic Sessions. There are also other courses like Sales Training opportunities currently being designed.
Q: Do I need to be “C” level to join?
A: No, however if you do have experience with a track record of successful engagements and excellent problem solving skills, you may be appropriate for immediate income opportunities.
Q: Who are ideal member candidates?
A: Ideal members are people with an entrepreneurial passion for helping businesses grow. It’s great if you have discretionary investment capital but not essential. It is also helpful if you have a skill set that will assist in growing or turning a company around, but not required. As a member you will be given and opportunity to learn the skills necessary to source potential revenue opportunities for yourself and the Collective.
Q: Is there a benefit if I recruit people to join CXO Collective?
A: There is a nominal referral fee, but even more importantly the stronger the capabilities/competence of members you refer the more opportunities you will have to professionally connect, network, grow your income, excel in your working sessions, and see higher returns on your investment.
Q: What’s an example of the ROI of being a consultant member?
A: Consultants will join a thriving community of professionals working on collaborative projects and find opportunities to join in paid engagements as they network. Consultants will also be brought in to Breakthrough Sessions with business clients to solve business-critical problems and provide sustainable and proven recommendations to help them achieve their business objectives and be paid for being a part of the session.
Q: What’s an example of the ROI of being an investor in CXO Collective?
A: All members stand to gain with successful Deals brought into a Chapter. If you decide to be an optional equity member there are potential gains with dividends, royalties, cash at sale, stock or other arrangements.
Q: What are some of the benefits CXO Collective offers to business owners?
A: Business owners will have access to internationally skilled professionals, proven successful Breakthrough Sessions outlining issues and solutions. Follow-up meetings will provide on-going guidance and project management to ensure the success of the recommendations as well as access to capital should that be identified as a key indicator of success.
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Q: Who founded CXO Collective and why?
A: CXO Collective was founded by COO Jason Myers, a corporate turn-around expert and financier out of West Palm Beach, FL, and Corbin Cowan, Entrepreneur, Author, Venture Capitalist and Private Equity Managing Director out of Colorado Springs, CO. They started CXO Collective in 2012 to serve the needs of other Entrepreneurs and to create jobs in America through buying and building businesses.
Q: What does “CXO” mean?
A: “C” stands for Capital, “X” stands for Expertise, and “O” stands for Opportunity. This organization differentiates itself from typical Private Equity and Venture Capital firms in that they bring not only the capital funding necessary to advance successful businesses, but the human capital with the expertise to ensure the organization can reach its full potential.
Q: How is CXO Collective structured?
A: CXO Collective International, LLC (“CXI”) is the parent corporation that owned and structured the CXO Collective. CXO Collective is a group of subsidiary Chapter LLC Corporations across the nation, see mycxo.com for a current list.
Q: Who makes up the CXO Collective membership?
A: Members include people who have access to deal flow; C-level talent, investment capital, including a broad array of professionals in all areas of business (finance, operations, marketing, sales, distribution, customer service and more). Members also include Business Owners who are seeking competent and successful professionals, and/or capital to help them take their business to the next level.
Q: What are the locations of the Chapters?
A: See mycxo.com for a current list. California (San Jose, San Francisco,); Colorado (Denver); Texas (Dallas, Houston); Arizona (Phoenix); Washington (Seattle); Georgia (Atlanta); Nevada (Las Vegas); Florida (Fort Lauderdale, Tampa);
Q: Are there additional Chapters being developed?
A: We have five additional Chapter cities in development for 2014, including: Chicago, New, York City, Austin, and Los Angeles.
Q: Where is the CXO Collective headquarters?
A: CXO Collective headquarters is in Jupiter, Florida.
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