As you already know, our team is working hard to make things happen for our great clients. However, a few of you know about our future products. Our first product will be launched in the next months. I can’t say much for now but you can start by learning about crowdsourcing.

What is crowdsourcing?

Let me introduce you to this relatively new but very important and substantial business term. There are many definitions you can find online but the basic idea behind it is the completion of business related tasks that a company would normally do or outsource to a third party provider by inducing the mass volunteer participation of the “crowd.”

The concept

We can associate crowdsourcing to mass collaboration, consumer generated media, open innovation and collaboration, user generated content, mass customization or simply outsourcing tasks to large crowds. Although the concept was already around long before, today’s technology and the advent of Internet make it possible for larger number of amateurs to do more complex and creative tasks at a lower cost.

Why it works

Crowdsourcing can lead to increased productivity and creativity. It can also minimize labor and research expenses. Customer participation in product research and development process, marketing, branding and other business processes can help reduce costs and lower the risk of failure in placing market demand.

Why you should try crowdsourcing

If you’re a business owner or an entrepreneur, crowdsourcing may help you improve the status of your business. You can tap a wider range of talent outside your business that can help you gain a better perspective of your company’s products or services, thus making you perform better in the marketplace.

More about crowdsourcing

If you want to learn more about crowdsourcing, you can read Jeff Howe’s blog at http://crowdsourcing.typepad.com/. Jeff is a contributing editor at Wired Magazine.