Obtain a membership in national or state cooperative associations. An understanding of not only the tangible factors such as financial risks, costs and benefits to potential members must be reached, but the less tangible factors such as mutual respect, trust and confidence in the group leadership must be established. Brian Henehan Cornell University Potential Pitfalls for New Cooperatives 1. Lack of a clearly defined mission, purpose and focus. Make sure that the co-op has a clear mission statement and definite goals.
Many businesses flounder because there is no clarity about what it is supposed to accomplish.
In addition, members must share a common vision and have general agreement about how to get there. Do the nitty-gritty research that is necessary to determine whether your business idea will float. Then invest in a quality business plan before start-up. Your assumptions must be based on research, conducted or reviewed by someone with experience in feasibility analysis. Failure to use experienced advisors and consultants.