General guidelines for success...

1.  Keep your focus

2.  Keep members informed and involved

3.  Build strong member leadership and commitment

4.  Set realistic goals and assumptions

5.  Conduct businesslike meetings

6.  Follow sound business practices

7.  Base decisions on market research rather than opinions

8.  Create a comprehensive business plan

9.  Use advisors and committees effectively

10.  Forge links with other cooperatives

11.  Identify and minimize risks

12.  Maintain honest open communications

13.  Invest in member, board, and staff education

14.  Hire competent management

15.  Raise sufficient capital

16.  Establish a realistic market entry strategy

17.  Make sure you have enough product to sell to a large enough market to make money.

 

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