Ep 183 - A Journey of Collective Success - Vernon Oakes
In episode 183 of Paper Napkin Wisdom, we had the pleasure of speaking with Vernon Oakes, the host of Everything Cooperative, and a passionate advocate for the cooperative business model. With years of experience in real estate, business education, and cooperative development, Vernon’s mission is to empower communities and transform economies through the power of cooperatives.
Special congratulations to Vernon for being inducted into the Cooperatives Hall of Fame!
The Beginning of a Cooperative Journey
Vernon’s journey into the world of cooperatives began with a simple yet profound observation: “Watching everyday people make powerful business decisions started my journey to love cooperatives.” This was the wisdom he shared on his paper napkin during our conversation. He realized that when people come together to pool resources, make decisions, and share profits, something truly transformative happens.
What is a Cooperative?
A cooperative, as Vernon explains, is a business model that is owned and operated by the people who use its services. Unlike traditional businesses where decisions are made by a few, in a cooperative, each member has an equal vote and say in the business’s operations. This model promotes economic democracy, fairness, and inclusivity, making it a powerful tool for community development and empowerment.
The Core Principles of Cooperatives
Vernon delved into the core principles that define a cooperative and why they are more relevant today than ever before:
Voluntary and Open Membership: Cooperatives are open to everyone willing to accept the responsibilities of membership. There is no discrimination based on gender, social, racial, political, or religious factors.
Democratic Member Control: Members actively participate in setting policies and making decisions. Each member has one vote, regardless of their level of investment.
Member Economic Participation: Members contribute equitably to, and democratically control, the capital of their cooperative. They decide how to allocate surpluses.
Autonomy and Independence: Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, they do so on terms that ensure democratic control.
Education, Training, and Information: Cooperatives provide education and training for their members so they can contribute effectively to the development of their cooperatives.
Cooperation Among Cooperatives: Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional, and international structures.
Concern for Community: Cooperatives work for the sustainable development of their communities through policies approved by their members.
Why Cooperatives Matter More Than Ever
According to Vernon, the cooperative model is a solution to many of the economic and social challenges we face today. As communities and businesses grapple with inequality, economic instability, and a lack of shared prosperity, cooperatives offer a model that fosters resilience, fairness, and collective success. By sharing resources, making decisions democratically, and focusing on long-term sustainability rather than short-term profits, cooperatives create a more inclusive and sustainable economy.
How to Get Started with a Cooperative
Vernon encourages anyone interested in starting or joining a cooperative to first educate themselves about the principles and values that guide these organizations. He also suggests reaching out to existing cooperatives for support and guidance. Whether you’re looking to start a food co-op, a worker-owned business, or a housing cooperative, the first step is to build a group of committed people who share a common vision and are willing to work together to bring it to life.
5 Key Takeaways from Vernon Oakes
Empowerment Through Ownership: Cooperatives empower people by giving them ownership and control over the business. This leads to more engaged and motivated members who are invested in the success of the cooperative.
Take Action: As an entrepreneur, explore ways to give your team more ownership in decision-making processes. Start by involving them in setting goals and strategies. When people feel like they are part of the bigger picture, their commitment and productivity can skyrocket.
Resilience in Tough Times: Because cooperatives are built on shared responsibility and mutual support, they are often more resilient in challenging economic conditions compared to traditional businesses.
Take Action: Build a culture of mutual support within your organization. Encourage open communication and collaboration among your team members. Establish a system where team members can lean on each other during challenging times. This creates a safety net that can help your business weather tough situations.
Community Building: Cooperatives help build stronger communities by keeping profits local, creating jobs, and fostering a sense of shared purpose and responsibility.
Take Action: Get involved in your local community by supporting initiatives that align with your business values. Partner with local organizations, offer internships, or create volunteer opportunities for your employees. By contributing to your community, you’ll strengthen your business’s reputation and make a positive impact.
Economic Democracy: The democratic nature of cooperatives ensures that all members have a voice and a vote in the decisions that affect the business, promoting fairness and inclusivity.
Take Action: Implement regular feedback sessions where every team member has a platform to share their ideas and opinions. Use this feedback to inform business decisions and strategies. This approach not only democratizes the workplace but also ensures that diverse perspectives are considered, leading to more innovative solutions.
Sustainability and Long-term Thinking: Cooperatives prioritize long-term sustainability over short-term gains, which makes them a valuable model for businesses looking to contribute positively to society and the environment.
Take Action: Shift your business focus from short-term profits to long-term impact. Assess your current business practices and identify areas where you can implement more sustainable strategies. This could be through reducing waste, investing in renewable resources, or supporting social causes. A sustainable approach will not only benefit the planet but also enhance your brand’s long-term value and reputation.
Vernon’s journey and passion for cooperatives show us that business can be a force for good when people come together with a shared purpose. As we reflect on his insights, let’s consider how we can incorporate the cooperative principles into our own lives and businesses.
Special congratulations to Vernon for being inducted into the Cooperatives Hall of Fame!
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