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How to generate idea for a cooperative bank

by Mukesh Doot 4 year(s) ago

You must have heard a lot – AN IDEA CAN CHANGE YOUR LIFE. If implemented practically, this line can do wonders for those trying to plunge into cooperative business. The most important aspect of any cooperative business is to generate an idea which would be appealing to others. There are a lot of inspirations around to generate such an idea.

Look around yourself

Take Sheffield Renewables, for example, one of a new crop of schemes set up by and for local residents to generate green power and profit from the river running through the city.
What you have around yourself matters a lot. The atmosphere, the surroundings and the natural resources are unique to a place. Identify the uniqueness in your area and know how it can help you build a business community.

Spot a talented group and get it together

Talent is everywhere. Most of the talented persons are not even aware what importance their talent has for this world. If you come across a group of people talented in anything from producing something unique to cooking, spot the opportunity in it, make them aware and build a cooperative business. If you are the one who is talented then nothing like it.

Identify a need people are finding it difficult to fulfil

Is your area not getting proper supply of milk? Doesn’t it have good bakery stores? Try to spot a need which people are not able to fulfil on their own or through the market in a particular area. Build a community and gather the resources through cooperative business to address that need. You will be surprised how much people would like your cooperative service or the cooperative product.

Know the local communities

Gather as much information as possible about the local communities and people. This study may help you come up with an idea.

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