• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Stumped? Consult ‘the crowd’

by on
in Best-Practices Leadership,Leaders & Managers,Profiles in Leadership

Do you rely on your “golden gut” when making decisions? Or do you believe that other people in your organization have expertise or opinions that can help make your decisions better?

Greg Burrill, owner and founder of home-builders WGB Homes, is in the second camp.

When a house doesn’t sell, he calls on the wisdom of the crowd. The “crowd” includes family members who work for the company, employees, subcontractors and customers who’ve bought homes in the same neighborhood.

In one case, a $550,000 spec home sat unsold for six months, despite plenty of traffic through it. Was it the lot size, the price or something about the design?

He went to the “crowd” and asked for opinions and ideas, then called a meeting of his inner circle. Everything he heard was put on the table.

This particular home reflected a new design by WGB, featuring a first-floor master suite. In reviewing feedback from the crowd, Burrill’s team realized that, even though target buyers had claimed to want a first-floor master bed­­room, those targets inevitably decided to buy homes with second-floor masters.

After the group consultation, Burrill knew what to do: reconfigure the design. It worked. A couple bought the house after the redesign—even in a difficult housing market.

Lesson: Have confidence in your own judgment, but also know that better decision-making comes from gathering insight and expertise wherever you can.

— Adapted from Judgment Calls: 12 Stories of Big Decisions and the Teams that Got Them Right, Thomas H. Davenport and Brook Manville.

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/31062/stumped-consult-the-crowd "

Leave a Comment