The sharing economy, simply put, is the phenomenon where people are increasingly willing to share their home, car, clothing, goods, services—almost anything—online. It’s having a major disruptive influence on the way business works today. New consumer-driven businesses are cropping up quickly and taking a significant share of revenue from traditional counterparts. Just look at the hotel industry—it’s taking a hit from Airbnb. Sharing sites like Peerby are driving a whole new commerce engine where people share anything from tools to evening dresses. And in the transportation industry, change is happening fast with companies like Uber and Lyft crowdsourcing public transportation in cities around the world.
The sharing economy has allowed new multi-million dollar businesses to grow seemingly overnight. So, how can traditional businesses leverage the sharing trend? Here are five lessons you can use to lean into—and learn from—the new sharing economy.
1. Co-create Working in a collaborative way read more »