As more and more people are saying goodbye to their office jobs and hello to their own businesses, management co-ops have been springing out of the grass to connect them with local professionals and help them get their start-ups off the ground. But what can these groups really do for the self-made man? Are they everything they’re cracked up to be? Here are just a few benefits of management co-ops; you can draw your own conclusions from there.
1: Expert Help
Most management groups are staffed by industry professionals who have either grown tired of the “big leagues” or just see more freedom in small, independently-owned businesses. They have all kinds of skills and resources that will pass along their expertise to you. For example, the people at InnoviaCMC.com offer headhunting and customer service training workshops, and others still might have accountants or financial advisers on board for questions, concerns and tax preparation.
2: A Professional Network
You’re never alone in a co-op, and that means when you need help with something like payroll processing, you’ll receive all the assistance you could want from your new friends. You can also count on them to keep you appraised of investment and business opportunities in the area, often before anyone else but the group knows about them. Co-ops are even great for advertising purposes: You can cross-promote with others in your industry, avoiding your competitors and scratching the backs of the faithful. You’ll never need to attend another networking mixer again, not when the co-op comes with a built-in Rolodex of friendly and useful acquaintances!
3: Deals and Discounts
Many business owners are turning to co-ops for the simple fact that it puts money back in their pockets. Not only are they enjoying special deals from their new associates, but the co-op themselves can be affiliated with a number of retailers and corporations that offer their members exclusive sales, trips and rewards packages whenever they order from approved vendors. A large enough co-op can also leverage down prices with their own buying power! Some members report saving thousands of dollars per year.
It’s clear to see that management co-ops are onto something in terms of sharing resources, cutting costs and connecting like-minded businesspeople within their community. If you’re thinking of tearing up your time card and starting your own company, a management co-op may be the best decision you can make as a new CEO.