The Third Meetup

Last Tuesday was our third meetup for Chuck eesley’s venture-lab.org. Instead of the Michigan Street Starbucks opposite to The Chicago Tribune, we pivoted to the Wormhole for this one. For any geek who has been to this place, knows what a riot it is. From “Back to the Future” time-machine retro-fitted on the ceiling, old atari cartridges as showpieces on the coffee-table, super typo-friendly wifi password, stopwatch controlled brewing, Starwars puppets, shopkeep.com app on ipad instead of cashbox – the bearded coffee masters had it all. Everything except a place to accommodate the thunderous 8 of Lake Effect Ventures. But of course, we have Benn Bennett – son of a lawyer and a linguist by profession. We witnessed the art of “coaxing people out of their couch” – 2 minutes later the entire team had the best possible seating arrangement.
 

Two hours of caffeine drenched brainstorming spitted out the following:

  1. I sketched out how the process might flow in two steps.  We are down to a pretty bare minimum concept build which is ideal both for this class and for getting something up quickly so that we can test it.
  2. I set up a Twitter account for Lake Effect Ventures so that we can tweet about progress we are making.
  3. Andy is going to jot up a positioning statement and beef up the business model canvas for the concept
  4. Leandre will use these to complete our 2-slide initial submission for our deliverable for the next deadline
  5. Leandre will also use this to start to craft a presentation deck
  6. Benn will be working on the copy for the landing page that I started.
  7. Benn will also be crafting a logo in Photoshop (Alex, Zak, Sidi if any one of you is good with design Benn would appreciate the assistance there)
  8. We need to think of a name for the concept as well

We think it is a bit premature to start on the user stories right now given that we have a good idea of what we are gonna build. Charles and me are gonna start on that and look to have something complete from a Version 1.0 standpoint by mid next week barring no setbacks. We will look to craft the user stories once we complete the MVP and use them as structure for testing features and functionality (Zak stay tuned on this)
Benn and Andy will also be working on putting together a more formal customer survey so that we structure the interviews we are having and start to compile meaningful data which we will need going forward.
Its getting exciting ….

Advice:John Doerr on working in teams

Incredible Networking:  Collect names, emails of all folks you meet. Be very careful about who your friends and keep in touch – after all you become the average of the five people you spend your time with. Call them up – Its incredible what people will tell you over the phone. (This is something, I have always fallen short – I can hardly get beyond emails).

Carry Chessick, the founder and last CEO of restaurant.com once told me after his lecture session at UIC, that networking as it is perceived is worthless. When you meet people, make sure you finish off by saying “If I can be of any help to you, please do not hesitate to get in touch”. That’s the only way that business card will actually fetch you some benefit. I met a sales guy from SalesForce.com, some time back at Chicago Urban Geeks drink … who sent out a mail immediately after the introduction from his phone with a one line saying who he was, where we met, and that he’ll keep an eye on tech internship notices for me. Brilliant.

360-s: If you want to find information about some company, of course you Google. So lets say if you are gathering info about Google, you’ll also want to talk to their competitors Yahoo, Bing … and find what they are thinking. Then you triangulate all that information to get in a good position.

Coaching: Make sure there is some one will consistently give you advice on what’s going on in your workplace.

Mentoring: Having a very trusted person outside your work who can give advice is invaluable.

Time buddy: How do you make sure that you are doing good time management? Get a time buddy, compare your calendars on how you are spending time. Bill Gates does this Steve Balmer.

Another interesting practice I’ve read sometime back on Hackernews is communicating with team members in two short at regular intervals:
(1) What I did last week/day:
(2) What I’ll do next week/day:

As my dear friend Guru Devanla(https://github.com/gdevanla) would put it “Its all about setting expectations … and meeting them”!