As in the last 5 years, I want to start this year sharing with you my retrospective for 2019 and, in a few days, my plan for 2020. So here it is in order:
- What was our plan
- What we achieved this year
- What we learned
- What we would do differently
Note: you can find back everything I share so far on my personal blog: https://outoftech.com/growth-records/
And more specifically for 2019 goals: https://outoftech.com/2019-growth-strategy-and-plan/
2019 theme: Refining the most effective way to coach non-technical founders
This year we not only scaled our coaching methodology, but we also organised it, added some tools, developed a quick mobile app and improved our process.
The main breakthrough of this year was being able to optimise our tech advisory coaching formula and making it even more affordable for early stage startup founders.
Indeed, while we still have a premium coaching program at $1500/month, working with dozens of early stage startups, this year has enabled us to create a program much more affordable, starting at $450 a month.
That’s what industrialisation allows us to do and it’s just the beginning.
From a company perspective
I was aiming to get a project manager during 2019. Not only I appointed Mitchie Ruiz as a part time, but I also worked hard on financing our company like a startup, and not anymore as a service based company. And we did overcome the first initial steps, and got our first funding which allowed us to be 3,5 in this beginning of the year.
Our main breakthrough in 2019
Working with people specialised in marketing helped me realize last year that I was doing things wrong in the content production process. I was basically getting confused with content for clients and content for prospects. Indeed, startup founders generally go through a fast learning curve and become aware of thousands of things by going through challenges. This meant that when I was producing content to help our clients, the same content was not yet adapted to new startup founders. This helped us decide in June 2019 to stop content production and to put our focus on current clients, fundraising and refining our content production strategy. This has impacted most of the project below to restart it stronger in 2020:
Retrospective from a project perspective
This month’s results vs goals
|Out of tech blog posts
||We produced a monthly blog post until June when we decided to stop content production.|
|AskMyCTO videos||Same formula. We produced weekly videos until June when we decided to stop our content production.|
|‘Startup Without CTO’ book||The setback in the regular content affected the book project too. So I have half of the book draft written but we want to review it to make it understandable to both novice startup founders and CEO that already have a product under development.
|Podcast||We had such a good time doing the podcast. It was a great process to learn how to do it and it was a bit challenging as well. We plan to restart this in 2020, so stay tuned!|
|Online Course||Although course production wasn’t the main focus of 2019, we produced a new course for early stage startup founders. “How to build a startup without technical co-founder”. I’m proud of this content and we will keep promoting this content for 2020.
|Hiring my first senior manager||In fact, the first person I hired was Mitchie, to make the content more casual and understandable for everyone.|
|The fundraising process
||Last year at the same time of the year, I wasn’t considering MyCTOFriend as a startup. But today, I do. We are using all our own experience to execute the exact same things we teach. 2019 was all about having a concept and getting the initial funding. 2020 will be focused on growth, getting more funds and integrating AI to super power our coaching formula.|
|Setting up a new team:||Having got our first fund by the end of the year, we did our first team building meeting on the 20th December. It’s a very promising start, and we are going to do it again this week for 2 days to build up a sharp 2020 plan.|
What we learned last year
The required work to fund raise with private investors.
I pitched and built my family office network in London. This was a great experience and I’m looking forward to meeting our goals to move further with the first funding round of My CTO Friend.
The required work to fund raise with public organisations and banks.
There is one thing I would do differently if I could travel back one year ago. In addition to focus on private funding, I would initiate a classical fundraising with banks and public organisation earlier in the process. I enable use to be established as a formal company and be stronger when we talk to investors.
Producing content triggering people’s emotions and difficulties.
This setback taught us how to deconstruct an educational message to reconstruct it with more emotions and interest for our founders. Basically we were producing very valuable content, but it was not compelling enough as our listeners were not aware of their needs.
We are ready now to plan 2020 precisely
Stay tuned for our new post, it will be more detailed about our goals in 2020 as we believe that sky’s the limit! What was your own retrospective for 2019? Send it to us via email or comment down below!We would love to know what you’ve learned last year!