For the series this week, we are going to take a look at a version business model. The main principle behind this model is providing different versions of the same software. The idea of creating multiple products out of a single application has been the most popularly adopted model for over a decade. Now, just like any business model there are some serious pitfalls and benefits of this approach. Luckily with many real world examples we can create a very accurate idea of this model.

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To kick off this series, I figured a good place to start is with the acquisition business model. This has become one of the more popular business models for web services. The reason this works is because there are big companies (ie. Microsoft, Google, Yahoo, etc) that are acquiring startups at an alarming rate. Like any business model, basing your company on the sole idea of being acquired is risky. If done right however, it can be a very lucrative approach to a startup business.

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I just returned from the Imagine Cup National Finals for the Software Design competition. I met some great people and also some valuable lessons. Microsoft did a overall decent job of running the event however there are a number of things I would like to have seen done differently. Oh and just for the record my project, Footprint, did not place in the Top 3 at the event. However I will try to be as non-bias as possible.

• Free Time - Microsoft gave us a very aggressive schedule of 8am - 10pm activities every single day. This did not allow many participants ample time to prepare and also have more than 5 hours of sleep.
• Judging Criteria - We were given a published listing of the judging elements on the competition, but were never given a break down of either the winners or losers. This is quite hypocritical when every workshop on presenting/marketing products is about finding out what you did wrong so you can improve for next time. Apparently they do not practice what they preach.
• Itinerary - A week prior to the event we were notified that there would be elements not included or hinted at in any documentation. This caused a panic among teams and a scrabble to prepare for the new elements of the event.
• Showcase - We were told to prepare a showcase of our product for the public. However this was not factored into our final scores so if your booth was ineffective or sloppy, your score was not hurt as a result. If something like this isn’t going to count, and requires days of prep work then just leave it out! In addition, a showcase should be to potential investors or a broad range of customers, marketing green technologies to inner-city high school students does nothing but make Microsoft look good with a PR stunt.