Moving From Me To We BlogMoving From Me To We Blog

Grow a Popular and Profitable Online Community

Want to make a living by hosting an online community? See this thorough post on exactly how Motley Fool creates multiple ways for amateur investors to help each other make smarter choices. 

Because the process and results are transparent you can see credible comparisons. That’s a trust-building feature for attracting members to any community. 

Denis Hancock describes how they evoked this Wisdom of Crowds effect to grow a profitable business.

Hint: They “used the insights from their community to enhance their core value proposition, rather than replacing it.”

To keep your community members happy hear insights from veteran Patrick O’Keefe.

Categories: Collective Intelligence, community and tagged , , , , .
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4 Comments

  1. Posted June 9, 2009 at 2:03 pm | Permalink

    Kare,

    Interesting post. I will soon send you an invitation to a new online community that I think would be of interest to you.

    To spark a conversation, I must say that I don’t believe in “collective intelligence” as a concept. I think that individuals could freely join a group and from there you could get a great interaction and exchange of values. But philosophically speaking, it is important to point out the important role of the individual. Otherwise you could end up in a mob mentality there the majority is ruling, crushing the individual. You have to have a “me” before you could “move to we”! Recommended reading: We The Living by Ayn Rand.

  2. Posted June 14, 2009 at 5:59 pm | Permalink

    Martin,
    I respect your view AND have seen, first-hand where the “wisdom of the crowd” works and where it does not…..that’s why some crowdsourcing ventures fall flat, for example and others do not.

    That does not mean that a persistent individual can’t achieve success (Rand) – just that in this connected world, those who use their best talents together can, with the right rules of engagement and goal, accomplish something greater than then can on their own.

  3. Posted July 9, 2009 at 6:02 pm | Permalink

    Very sorry I didn’t see this previously – thanks so much for the mention and kind words

    Patrick

  4. Posted July 29, 2009 at 7:55 am | Permalink

    Kare,

    Thanks for your reply. I bet we will talk soon again! 🙂 Have you followed up how it is going with Motley Fool’s online community? Do you have other success stories in the financial area?

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