Crowdsourcing

Shifting Towards Collaborative Consumption

Why Buy When You Can Rent?

Sharing allows us a deeper insight into the human spirit, which is a fact collaborative consumption thrives on. The term is used to describe a prevalent economic model that involves sharing, bartering, trading, renting etc. as opposed to ownership.

This has made access to goods and services way easier than ever before. Online consumers have grown smarter. Now it takes more than a flashy advertising campaign to make them go into a buying frenzy. Why would they, when they have peer reviews, social media and online forums that can give them a much more accurate evaluation?

Crowdsourcing The Reuse Of Trash

In a previous article, I spoke about crowdsourcing and mentioned a list of websites that use crowdsourcing. One of them is E-Cool, which is a platform to share content on creatively reusing products of minimal or no value.

Consider the amount of milk cartons, plastic bottles, aluminum foils, paper and cardboard that we usually throw away every week. What if you could learn to make storage boxes from a single sheet of paper? What if the milk cartons and cardboard boxes could be used to create valuable products for your everyday use?

Crowdsourcing

What is crowdsourcing?

Crowdsourcing has become an astronomic trend in the recent years, promoting innovation and fraternization in business, community, research and administration. Crowdsourcing is collective problem-solving using crowd wisdom. In today’s world it is imperative to know how to move along the network of connected people and leverage off individuals who can contribute knowledge, feedback and ideas to companies. Senior Management has to understand that gone are the days where outsourcing was considered to be a lean business model. Crowdsourcing is here to stay. Ideas are spreading like wildfire thanks to social media, which has helped connect individuals like never before. It is smarter to organize labor as a community, than as a corporate.

A Primer On Crowdfunding

Crowdfunding can be defined as raising funds from the general public usually through internet platforms in order to support a project started by an individual or an organization. Social media websites play a primary role in this regard, as individuals or organizations looking for funds use these websites to reach out to the general public. Instead of asking a small number of sophisticated investors for large amounts, crowdfunding allows an individual or organization to reach out to a large number of people for smaller amounts of money. Incentives such as profit sharing, free products and samples can also be associated with crowdfunding activity. Upcoming platforms such as iFunding give investors access to real estate investing via crowdfunding. This way, crowdfunding might change the way we invest in Real Estate.

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