We Are Smarter Than Me: Crowdsourcing New Businesses

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Pearson Education, Oct 16, 2009 - Business & Economics - 11 pages
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This Element is an excerpt from We Are Smarter Than Me: How to Unleash the Power of Crowds in Your Business (ISBN: 9780132244794) by Barry Libert and Jon Spector. Available in print and digital formats.

 

Use crowdsourcing to create marketable new products and content--and blow away your traditional competitors!

 

When communities help manufacture companies’ products or content, the advantages over traditional business models are huge. At iStock, for instance, contributors create the product and deliver it in market-ready format. With little inventory expense or traditional overhead, the company can price the product far below old-model competitors. Here are more examples of crowdsourcing at work....

 

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Contents

Section 1
Section 2
Section 3

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About the author (2009)

Barry Libert is Chairman of Mzinga, a leading enterprise social technology and services provider. The company manages over 14,000 online communities, which draw more than 60 million total online visitors every month. Libert is a recognized authority on entrepreneurial leadership strategies and a pioneer in the business use of social technologies. A one-time McKinsey and Company consultant, he has coauthored three highly regarded books, including Cracking the Value Code and Value RX. Jon Spector is President and CEO of The Conference Board, the world's preeminent business membership and research organization. He previously served as Vice Dean and Director of Wharton's Aresty Institute of Executive Education; as CEO of several venture-backed startup companies; and for 20 years at McKinsey & Company, where he was named a Principal in 1986 and a Director in 1992.

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