One year already

So you’re up and running. All that business planning is now being put to the test. Think of your co-operative like an aeroplane which is now in the air. Are the instruments showing the right readings and are you on course? Your co-operative will generally have a governing body and it is their responsibility to act in the role of pilot. It is very easy to get bogged down in the day to day running of the business and  whilst this is critical, someone needs to be taking a strategic long term overview of the enterprise. Again this is the governing body’s role. Your first governing body will often be the people who started the co-operative. They will often have the power to invite other members onto that governing body to help them until the first Annual General Meeting when they will typically present accounts and a report to the entire membership who will then also elect a new governing body.

Key questions

Are we on track and hitting or exceeding our cash flow forecasts?

Are we meeting our profit and loss forecast?

Are we paying our bills?

Are we achieving our objectives?

Are we meeting our legal requirements, reporting, tax etc.

Is our governance healthy? Are we running in accordance with our governing document?

Do we need to change anything? Product, offer, marketing, business model?

Do we need to renew annual agreements, leases and contracts?

You've now completed the journey, and can go back to the Start a Co-operative pages.