Business Basics to Help “Do Business Better”

Whether you’re a sole entrepreneur running a retail business, a group of workers who own a café cooperatively, or a non-profit organization working to improve your community, basic business skills in marketing, finance, and human resources can be important for success and cooperative approaches might help you overcome challenges. That was the simple idea behind a learning series in Gallipolis, Ohio, this spring presented by the Small Business Development Center at OSU South Centers and College of Food, Agricultural, and Environmental Sciences Center for Cooperatives and sponsored by United Way of the River Cities and Gallia County Chamber of Commerce.

A woman teaching attendees in front of a slide presentation People sitting at a conference room table watching a presentation A woman teaching attendees in front of a slide presentation

Caption: Training participants heard from Melanie Sherman, Hannah Scott, and other partners during the series, held at Ohio Valley Bank On the Square in Gallipolis, Ohio.

Explore Resources from the Training Series

The three-part learning series kicked off on March 28, 2024, with a dive into best practices in branding, identifying target markets, finding low and no-cost media tools, and exploring cooperative approaches to small business marketing. As part of the training, CFAES Center for Cooperatives staff shared approaches like group purchasing of supplies, pooled advertising and customer outreach, and shared space, that may help small businesses lower costs and reduce transaction costs.

A slide titled "Business Basics Marketing" with logos for The Ohio State University College of Food, Agricultural, Environmental Sciences, Ohio Small Business Development Centers, and U.S. Small Business Administration

Explore select slides from the finance training here.

Accessing capital and managing finances can feel like a hurdle for small businesses and community organizations. Whether it is funds to purchase a building, hire staff, or invest in new equipment, or understanding basic financial statements to make better business decisions, these areas can seem overwhelming. On April 25, 2024, Hannah Scott, CFAES Center for Cooperatives Program Director, and Melanie Sherman, a small business counselor with OSU South Centers, helped attendees learn about basic business financial terms and statements, reviewed best practices for pricing products, and outlined processes for finding loans and grants. The team introduced participants to the worker cooperative model, using a mock worker co-op as a model throughout the presentation to help attendees learn about the unique business model. Worker cooperatives, among other opportunities, may help individual entrepreneurs pool equity investments and share risk.

A slide titled "Business Basics Financial Literacy" with logos for The Ohio State University College of Food, Agricultural, Environmental Sciences, Ohio Small Business Development Centers, and U.S. Small Business Administration

Explore select slides from the finance training here.

Hiring and retaining the right team is integral to business success. Small businesses and non-profits need to consider many factors to manage talent, from meeting various regulatory requirements to keeping workers engaged and effectively reaching new candidates to join their team. On May 23, 2024, Melanie Sherman and Hannah Scott, both with business programs at the OSU South Centers, shared basic considerations for recruitment marketing to help hire the “right” employee and cooperative shared service approaches for human resource functions. Ms. Scott also introduced participants to employee owned business models, like worker cooperatives, which can create benefits for workers like increased wages, greater retirement earnings, and opportunities to meaningfully shape their workplace.

An image of the title slides of the presentation "Business Basics: Human Resources for Profits and Non-Profits"

Explore select slides from the finance training here.

Connect with the Speakers!

A black and white photograph of a sign for the OSU South Centers and Endeavor Center with a field and buildings in the background.

Do you want to learn more? Offer similar trainings in your community? Interested in one-on-one counseling to grow your business? Reach out to Melanie or Hannah!

Melanie Sherman, CBA
Venture Development Analyst

614-247-9729 Office / sherman.1675@osu.edu

Hannah Scott, JD
Program Director

(614)247-9705 Office / scott.1220@osu.edu

Could Cooperation Help Your Small Business Market Better?

Product, price, place, and promotion. One of the keys to success for a small business is mastering marketing. Whether entrepreneurs are advertising their business, using promotional strategies to reach their target customers, or working to place their products into a new market channel, marketing encompasses many aspects of business. Are cooperative approaches to marketing opportunities a fit for your small business to save time and resources?

Does your business use supplies that many other businesses also use?

Purchasing supplies as a group, via a purchasing cooperative, for example, may help businesses lower per unit costs for supplies, improve market information across the supply chain, consolidate transactions to reduce administrative burdens, reduce inventories, coordinate shipping, or even control quality attributes.[1] For example, restaurants may use a purchasing cooperative to purchase food, packaging, equipment, and other commonly needed supplies together in bulk. The Wendy’s Quality Supply Chain Co-op works with suppliers to provide member restaurants with products and services, pooling billions of dollars in buying power.

For a more detailed look at the purchasing cooperative model, see the publication “A Guide for the Development of Purchasing Cooperatives,” by the U.S. Department of Agriculture.

Golden french fries in white paper container. White toilet tissue rolls in a wire shopping cart. Yellow paper shopping bags with polka dots and stars.

Could your business advertise with businesses in the same industry or geography?

Marketing cooperatives and similar approaches may offer opportunities for small businesses to reach new market channels or audiences while reducing costs and administrative burden for individual businesses.

In Ohio, businesses in the tourism industry like convention and visitors bureaus, lodging, restaurants, attractions, festivals, and others, may be able to utilize TourismOhio’s “Ohio, The Heart of It All Co-op Advertising Program,” which provides members opportunities to purchase advertising like paid social, digital, and paid search, as well as opportunities for marketing contact creation offerings like photography, videography, storytelling, and influencer engagements, among other potential benefits.

Illustrated image of computer screen with various graphics, including play symbol, money symbol, text bubble, light bulb, and megaphone.

Does your business have the ability or opportunity to share physical space with other businesses?

In some instances, cooperative approaches to helping businesses access the physical space they need to operate or market their business might offer benefits. For example, shared-use space like business incubators or artist cooperatives might help create affordable opportunities for start-up businesses, help businesses attract new customers in spaces where customers who enter the space to shop at one business may also be encouraged to shop at others, and reduce administrative burdens by sharing maintenance and upkeep for the space and outdoor areas.

Learn more about artist cooperatives in this “Toolkits for the Arts: Toolkit 2: Form an Artist Cooperative” from the Tamarack Foundation for the Arts in West Virginia.

Open sign on inside of glass window.

Some Considerations for Working Cooperatively

Small businesses exploring how a collaborative approach might help them better market their products and businesses will need to consider various key questions. The questions below are a starting point but are by no means exhaustive. Entrepreneurs who are interested in exploring a cooperative approach further can reach out to the College of Food, Agricultural, and Environmental Sciences Center for Cooperatives at Ohio State.

  • Who will be engaged? What is their role?
  • How will the group make decisions?
  • How will the group be formally organized?
  • How can the group manage risk?
  • Will working together provide the intended benefit

Graphic of light colored light bulb and hands connecting colored puzzle pieces

Contact Us!

For more information about the CFAES Center for Cooperatives at The Ohio State University visit go.osu.edu/cooperatives. Contact the CFAES Center for Cooperatives at osucooperatives@osu.edu or 614-247-9705.

For assistance with registration or additional questions about events, please contact Samantha Black at black.1156@osu.edu or 614-247-9774.

CFAES provides research and related educational programs to clientele on a nondiscriminatory basis. For more information, visit cfaesdiversity.osu.edu. For an accessible format of this publication, visit cfaes.osu.edu/accessibility.

[1] Reynolds, B. & Wadsworth, J. (2009). “A Guide for the Development of Purchasing Cooperatives,” U.S. Department of Agriculture Rural Development, Cooperative Information Report 64.