About Entrepreneurs: Web-Based Open Innovation
 | from Scott Allen
One of the challenges entrepreneurial companies can face is how to sustain innovation. Larger companies typically have access to a larger number and variety of people sharing ideas. While smaller companies are often founded on an innovative idea, it can be difficult to keep it going, or to generate innovative solutions in areas other than the core product or service. But by doing innovation in the open, you can refine ideas and get additional input you might not otherwise have access to.
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In the Spotlight |
Ideablob Awards $10,000 Monthly for Great Business Ideas
This new site is offering $10,000 each month for the best new business idea. You can join for free and review and vote on the ideas, offer advice and build your reputation and submit your own idea for a shot at the monthly prize.
| | Open Innovation Meets Web 2.0
Social networking applications have a place in business that goes beyond traditionally outward-facing roles like marketing, sales and recruiting. In fact, in my own experience, participating in online communities has been a tremendous source of business ideas and feedback on development of my products and services. Well, a couple of new companies are taking it a step further, creating online communities based around open innovation. And you can make money, grow your network and enhance your reputation by participating.
| Innovation Can Come from Old Ideas
There's a common misconception that innovation means coming up with new ideas. In fact, innovation can come from very old ideas. One common way to innovate is by combining ideas from different fields. So the next time you're looking for an innovative idea, instead of racking your brain trying to think of something new, you might do well to spend some time looking through something very old - maybe something that once was thought impossible or at least impractical may now be a source of innovation or at least inspiration.
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