Distributed Teams

November 25th, 2008

Some people think that working with a team across nearly as many time zones as it has members would be a detriment to that teams productivity. That perhaps having a more centrist approach to work and development is the crucial ingredient to success. Here at MidVentures, we say, bull.

Having a team that is not in the same physical location does not mean a single negative thing, aside from that you will need to work a bit harder to stay in sync. Not that everyone here is away, we are still centered in Chicago, but we span several continents and many US states. We love the integrated cycle of work and development that this allows us.

You can Skype a meeting, and then when you wake up, someone in development has uploaded the latest code for testing. Give that a run through, and then let the design guy know about the needed changes, but before the programmers wake up, of course. This method is beyond powerful, allowing us to build things harder, faster, better, and stronger.

So here is to distributed teams, and all the great tools that make them work.


December 19th – MidVentures Event

November 18th, 2008

Grab a pen and mark your calendars, this December 19th is going to bring you the latest MidVentures rooftop terrace party!  We have not finalized the schedule at this point, but MidVentures will be annoucing a few new products, and most of the new MidVentures staff will be on hand to meet the MidVentures community. Be there or be behind, MidVentures is pulling out all the stops for this one.

Here are the details:

Where:

63 East Lake Street, Rooftop Terrace

When: December 19th. 7 pm – Midnight.

As usual, the dress will be strictly ‘Web Casual.’ 

If you have a question or confusion, feel free to fire me an email at Alex@MidVentures.com, and I will take care of you.


We Are On Twitter

November 14th, 2008

As a quick public service announcement, MidVentures has recently started using Twitter! You can find us over at Twitter.com/MidVentures. For those who are less action inclined, we have included a Twitter widget (Twidget, in Brian´s words) on our sidebar. You can find it about 75 pixels to the left from your eyes right now. We are here to save you time and clicks.

We are going to be using it as a communication tool to the public, and mostly to our MidVentures community of friends and fellow entrepreneurs. We will be continuing to use our list-hosts, so those of you who are afraid of microblogging will not be left behind.

However, if you are interested in what we are up to, where we are headed out to (come with!), and what our latest projects are, follow us on Twitter. We are on a you follow us, we follow you policy. See you on Twitterific!


Wikis – Collaboration Evolved

November 13th, 2008

Here at MidVentures, we appreciate things that make our lives easier. Especially things that make work easier. Why work harder than you have to? Not that we mind work, (really, we love it), but anything that cuts out steps is something we are going to use.

Enter our new wiki.

We are a bit late jumping on the wiki train, but jump we did, and how happy we are. A wiki is a wildly simple concept: a website that anyone can edit. But at the basis of every great idea is a simple premise with myriad applications. A wiki is just that.

We use it for everything: project management, standards sheets, contact lists, anything. New uses crop up every day; it’s turning into our central information storage solutuion. Makes you begin to double check your backup solutions.

Our advice? Get a wiki, both PBWiki and TikiWiki are great for any business. Once you intsall it, it will take a few days to become populated with content and users, but trust us, it’s worth it. 

Follow us on Twitter: Twitter.com/MidVentures


What is Web 2.0?

November 9th, 2008
Some clients specifically ask midVentures about our experience making web 2.0 applications; and they specifically ask for a web 2.0 design. Some concrete business minds and potential investors will explicitly divorce themselves from Web 2.0 because of its low-profit buzz. But that begs the obvious question- what is web 2.0? I have identified a few core characteristics shared by most web 2.0 applications.

1. User-generated content. Information, text, photos, events, connections- once upon a time the author or company staff would be solely responsible for creating the content. Essentially- web 2.0 means users create the content for the company- such as profiles on facebook, videos on youtube, articles on wikipedia.

2. The basic usage is free. Web 1.0 enjoyed a subscription-based membership model and revenue stream- and many business plans flooding competitions and VC desks still wear the hat of the paid web 1.0 subscription model. Now- basic usage is free; to encourage a critical mass of users necessary for exponential growth, and leverage of emergent revenue streams; such as ad revenue, premier subscriptions, or optional features. Linkedin is basically free- allowing it to reach a critical mass of users, and therefore I pay $15 a month for p2p network messaging.

3. Interoperability of information. Web 2.0 applications actually endorse the use of API’s (application programming interface) which allow 3rd parties (other websites) to query and post their own info. For example, Google Maps has comprehensive geographic data- and any other website can plug google maps into their site, leveraging the interoperable information. The reason for free interoperability- you become more necessary to other companies- you get more traffic by proxy- and you get publicity as an information-friendly company.

4. Rich User Experience. Obviously craigslist with its innocent grey still falls into the web 2.0 bracket without a necessarily rich UI (user interface); but browse around kayak.comelance.comfacebook.com,netvibes.com, hulu.com- and you realize that the website becomes more of a control panel for interacting with information and media. Web 2.0- where a critical mass of users is more important than subscriptions and proprietary information- must therefore make the experience more enjoyable to the user. That’s why adobe flex (flex.org/showcase/), microsoft silverlight (silverlight.net), and ajax (used by gmail, google maps, google calendar, etc) are attracting the new generation of talented developers. Turn the website into media-rich software- which attracts more users.

5. Questionable revenue streams. Developing facebook apps and iphone apps are a decidedly web 2.0 behavior; amidst the tenuousness of their revenue. Amazon.com, founded by Jeff Bezos, is a coutner-example- where some web 2.0 companies overtly over-analyze every financial figure before launching their app- and there are 99 netvibes for each amazon. In web 2.0 land, you build something really cool- and think about revenue once you reach critical mass. Facebook, for example, has yet to find a revenue stream that simply covers its costs.

But there is also a basic web 2.0 philosophy behind the business. When you live and breathe web 2.0, you make sites that take 2-3 months to develop, and maybe 2-3 years to grow and sell. You capitalize on information opportunities in order to make strategic apps that larger players (who move slower) want to acquire. For example, chicago-based Feedburner took 3 years to get acquired by google for a sizable amount. Web 2.0 can be whittled down to using every possible technology and opportunity to build and grow something fast.
I do not endorse web 2.0 as a required new venture standard- but I definitely endorse speed in development and growth as a critical competitive edge over larger but slower-moving competitors.