I remember the first time my young sons asked me, "Where's Waldo?" We would be reading at night before they went to sleep, and we would diligently look for Waldo among a large crowd of people. Depending on the level of the book or game, it was either hard or simple. But in the end, we found Waldo.

As I look back, I have been plagued with looking for Waldo throughout my adult career. Whether I was looking for the right attorney for a specific transaction; an executive search consultant to help staff my company; a compensation/benefits expert to provide HR advice; an investment banker to help raise my next round of capital; or an accountant to audit my firm's books. In short, I was searching for Waldo among a large crowd of providers. It was always hard to find him or her; it often took more time and effort than I had imagined; and it more often than not, Waldo's services were more expensive than I had budgeted.

But the world is changing.

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Waldos are now everywhere – more visible and more identifiable than before due to the emergence of social networks (e.g. crowds on The Net that are connected using Web 2.0 technologies). I can leverage today's crowds to get amazing insights and advice for almost everything I do, including how to repair my car - www.m5board.com; obtaining investment advice – www.motelyfool.com; picking hotels - www.tripadvisor.com; finding professionals for my firm – www.linkedin.com; and gaining insights about real estate values– www.zillow.com. In short, I no longer have to search high and low for Waldo as the crowds and today's technologies offer amazing insights and advice for a fraction of the cost. Equally important, they are available 24 by 7, 365 days a year.

So what does the power of these crowds mean to your firm's future? Simply -- sooner or later, you are going to draw upon your crowd's advice, be it the crowds you know as your customers, partners, employees, investors or suppliers. They will provide the answers and solutions your company needs to be successful using today's tools including blogs, wikis, prediction markets and other technologies not yet even imagined.

Despite the fact that I am an ex-McKinsey & Company consultant, I am delighted by the fact that today's quests for people and insights are much simpler than they used to be. I don't have to work so hard to find 'Waldo' anymore, nor pay as much. At first I thought it was because my kids had grown up, but I guess it's just that times change. Easy access to information is where the future lies. May Waldo RIP. - Barry 7/9/06