Dec 30, 2020
Do a retro
Step 2: Do a retro
Think about and learn from your past year using three columns:
What worked? | What didn’t work? | What improvements do you want to make for next time?
Creators have to take a lot of swings and inevitably miss on many. But if you commit to learning after every swing, then 5 years from now you will be unstoppable. Retros ensure that you learn after every swing.
Use problem statements for the middle column. “I need ____” is not a problem. It’s a solution. What is the underlying problem? A need statement is not a problem statement. Why do you need it? Get behind the symptom. Find the problem.
Here’s my retro for 2020:
- Went from 183 pounds to 167 pounds in weight.
- Quit drinking.
- Ate more fruits and vegetables.
- Did physical rehab for my shoulder.
- Got an annual physical and bloodwork done for the first time in many years.
- Doubled savings in a year.
- String Theory was launched.
- We had over 10 customers and 2 repeat customers.
- We partnered with GLE to teach kids how to string at a lacrosse camp.
- Learned about e-commerce and using Shopify now to reduce our workload.
- We have over 170 followers on Instagram.
- Listened to/read at least 10 books.
- Spending quiet time free of distractions with myself daily.
- Learned about film editing.
- Built a pergola for my family.
- Setup a home gym.
- Bought a car.
- Bitcoin and Tesla were great investments.
What didn’t work?
- Not sleeping well. Falling asleep late and not getting enough sleep.
- Never got into a physical hobby like yoga or martial arts which are more functional forms of moving the body.
- Bad money management in the stock market by selling stocks in March when they were getting crushed and buying too much into SPY put options.
- Helmet shields were an unnecessary investment for String Theory.
- String Theory is not meeting its promises of transparency and trust.
- String Theory can be marketed better.
- String Theory needs to support and attract more stringers on the platform if we want to make more money.
- Living at home is stressful.
What improvements do you want to make for next time?
- Focus on getting to sleep earlier and at least 7 hours per night.
- Get a membership for yoga or martial arts classes so that I’m losing money if I don’t go.
- Only sell stock for liquidity. Don’t trust your assumptions about what the market is going to do in the near future.
- Find more living situations outside of home this year even if it costs you more money than you’d like to spend.
- Develop stringer pages and better support stringers on the platform to have their own brands and product offerings.
- Do giveaways on Instagram to grow String Theory awareness.
- Don’t worry about making profit in String Theory yet. Focus on getting more revenue.