Who Should Be on a Steering Committee in a Cooperative Society

When starting a cooperative society (co-op), one of the first crucial steps is forming a steering committee. This committee plays a key role in setting up the co-op, including decision-making, handling government paperwork, and planning for finances and membership. To ensure the committee is effective, it’s important to include members with a range of skills and expertise.
Who Should Be on a Steering Committee
- Financial Experts
- Role: These members help with budgeting, fundraising, and managing financial resources.
- Why: They bring knowledge of accounting, financial statements, and debt management, which is crucial for the financial health of the co-op.
- Governance Specialists
- Role: These individuals are familiar with organizational practices and decision-making processes.
- Why: They ensure the committee operates efficiently and transparently, following best practices like Robert’s Rules of Order.
- Legal Advisors
- Role: They handle regulatory issues and draft legal documents.
- Why: Their expertise helps navigate legal requirements and reduces the need to hire expensive outside legal help.
- Industry Experts
- Role: These members understand the specific industry or sector in which the co-op will operate.
- Why: Their knowledge helps in designing operations and can save time and costs during the planning stage.
- Communication Specialists
- Role: These individuals manage interactions with potential members, lenders, and other stakeholders.
- Why: Good communication skills are essential for effective outreach and maintaining positive relationships.
Importance of a Diverse Skill Set
A well-rounded steering committee includes individuals with diverse skills to address various aspects of setting up and running the co-op. For instance, while legal expertise helps with compliance and documentation, financial skills are critical for budgeting and securing funds. Technical knowledge of the industry ensures the co-op’s operations are well-designed, and strong communication skills are vital for engaging with members and partners.
Team Dynamics
It’s important that the committee works as a cohesive unit. While different members bring unique skills, they must collaborate effectively. The steering committee should be composed of individuals who are genuinely invested in the co-op’s success, as a strong commitment from all members is essential for the project’s success.