As a former Army member, one of the most valuable habits I carried into my real estate business is the practice of conducting a “Lessons Learned” review. This strategy, which we used in the military through After Action Reviews (AARs), can be applied to any aspect of business or life. It’s a simple yet powerful way to improve efficiency, avoid mistakes, and streamline future projects.

What Is a “Lessons Learned” Review?

In the military, after every mission, we’d hold an AAR where we’d analyze every detail—what worked, what didn’t, and what we could do better next time. The concept is simple: after any event or transaction, take time to assess what went well and what needs improvement. Then, document it.

This review process helps you make better decisions, anticipate challenges, and refine your strategies. It can be applied to everything from business transactions to client events—and even something as fun as planning a party!

How I Use Lessons Learned in My Business

An obvious place to use this approach is with real estate transactions. For example, after closing a deal with a client, I reflect on what could have gone better. Was there a missed opportunity for better communication? Could I have negotiated more effectively? I take detailed notes, and the next time I’m in a similar situation, I’m prepared to avoid those mistakes and replicate what worked.

But this doesn’t just apply to work-related matters. I even use a Lessons Learned review for my annual Halloween party—a big event I throw for my clients and friends. After each party, I evaluate every aspect of the event:

• How much food was left over?
• What did people enjoy the most?
• What didn’t work?

For example, during my first Halloween party, the raffle drawing was a bit chaotic, so I replaced it with a smoother activity for the following year. When it came time to plan year two, I pulled out my notes from year one, and the entire process was much easier and more efficient.

Why Should You Do a “Lessons Learned” Review?

It’s easy to let the busyness of daily life or business keep you from reflecting on your experiences, but taking the time to document your takeaways is an investment in your future. Here’s why you should start doing this now:

1. Continuous Improvement: By reviewing what worked and what didn’t, you’ll always be improving, both personally and professionally.
2. Saves Time: When you’ve already documented what to avoid and what to replicate, future projects are much easier and faster to execute.
3. Prevents Repeating Mistakes: How many times have you wished you could go back and fix something you did wrong? With a Lessons Learned process, you can avoid making the same mistakes in the future.

How to Start Your Own “Lessons Learned” Review

You don’t need anything fancy to get started. Simply take a few minutes after any major event, project, or transaction to ask yourself:

• What went well?
• What didn’t go as planned?
• What can I improve for next time?

Write down your thoughts. You’ll thank yourself the next time you’re faced with a similar situation.