2021, so this is it. Time to wrap up. In reflection, it has been a growth year, hard work year but also a year where I could enjoy the skills that have been in development for several years. Inspired by my friend and sounding board Martin Kuustik, I have put together my own highlight reel, so I can be reminded of it in the future.
- Most of the work done this year has been so-called “deep work” — something that required deep concentration and no disturbance, like creating a system, executing on processes, producing actual things. Home-office has been awesome for that and I am satisfied with my discipline and good habits that have made it possible. GAIA is basically a home-born company.
- I had to make a strategic decision to choose a software development partner which took us 5 months. There were 9 companies to present the concept to, build trust and evaluate who will be a long-term partner. I learned how to make the whole process less time-consuming, less subjective, more insightful and how to set requirements and lead the process from the first contact to the kick-off of development. Time used on this process was totally worth the result.
- Developing a Minimal Sellable Product with RingIT from Estonia has been so motivating and inspiring. I’ve really seen the next level of cooperation, intelligence, efficiency, honesty, excitement and they have made me a better product owner (and a client). I love the vibe. Of course, I have also learned from earlier mistakes with previous dev. teams that have made this journey more enjoyable and less stressful for everyone.
- Designing a software product from an idea to a fully visualized product in Figma, and actually arriving to the point of launching the software in September, is the achievement of the year. Energy & maritime industries have been complex and very traditional industries to get a grasp on and building a product for it has been a mental yoga. The process from 0 to 1 has been a max effort to minimize time and cost to market.
- This year I have the opportunity to share my knowledge at NHH and Kristiania University and I enjoyed it a lot. Teaching forward is inspiring and giving experience which I want to do more of in 2022. Topics like prototyping, product management, building MSP, the conceptualization of the idea to product, outsourcing, entrepreneurship, learning by failures could be some of the topics.
- I have received a lot of support from my friend and mentor Tom Georg Olsen and become a better person. We were lucky to be matched as a mentee and mentor in Bergen Opportunity program and since then, it has been a priceless experience and friendship.
- In the beginning of the year, I started my own investment company and named it Accel Ventures.
- For the first time in my life, I invested in a foreign unlisted company in the UK — a fintech company Curve I’ve been a customer for several years, they have great revenue growth and their team has proven their execution skills.
- For the first in my life, I submitted a shareholder register statement (aksjonærregisteroppgave).
- For the first time in my life, I filled out a subscription form (tegningsblankett) for the purchase of index funds via my investment company.
- Also for the first time in my life, I received a not anticipated fine from Norwegian Tax Authorities. This was due to not modifying my tax statement for 2017 because I didn’t remember that when you invest in a start-up, you cannot sell your stocks and get tax benefits before 3 years have gone by. Travis succeeded 4 months too early. I wasn’t even aware that I can change the tax statement back in time. I dropped some big tears. I’ve been pushing so much, working so hard on things I’ve never done, I have always been scared but gathered all the braveness I have and still went for it, and then, there is no mercy, no one to look out for you. It was sad. And it made me scared because I didn’t know what else I don’t know which might cost me a lot.
- Beaten by the lack of tax knowledge, I decided to develop a master excel table with multiple tabs for strategically building and managing wealth long term. It includes a total financial overview of all assets, liabilities, incomes, financial expenses. I have integrated formulas from the tax law, created portfolio overview by asset group and so on. As a result, I can evaluate the proportional balance of my investments, wealth and income tax, plan future investments and have my yearly tax assessment ready before the authorities send it to me.
- The title for the most unpleasant task of the year goes to writing applications for soft-funding projects. 99% of the swear words said in 2021 were dedicated to those projects. Inefficiency, repetitiveness in question forms, old and buggy systems, bureaucracy, slow processes are wasting so much time for entrepreneurs. But, we got funding from every project and institution we applied to. So I am happy, but never again.
This was it. Inspire to aspire.
