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Thursday, August 05, 2010

Crowd Wisdom in Small Business

A colleage recently talk to me about projects we had proposed using crowd wisdom. A good NYT article on the use of 'Wisdom of the Crowd' plays, broadly defined, in small business. I always take notice when a new method is successfully used in small business. A big enterprise has the slack and money to test things. In small business the risk is much higher. Useful case studies.

" ... The process of crowdsourcing involves turning to resources outside your company. But instead of outsourcing a specific task or business function to a single company, crowdsourcing — also known as expert-sourcing and open innovation — makes a public, or semipublic, invitation to a community at large to provide input or work.... Thousands of crowdsourcing providers have emerged offering things like product development, logo design, fund-raising and sales-lead generation. What follows are suggestions based on the experiences of other small-business owners ... "

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