Monthly Startup Update - TEMPLATE
What?
Each month send out an investor update with
- Progress from last month
- Goals for the next month
- Asks
Best Practice
- Maintain an up-to-date intro paragraph on the business
- The more real, honest and open you are the more everyone can help you
- When things go downhill keep writing an update, that’s when people will be able to really help
Why?
The purpose of this update is to build support and trust among your early adopters, mentors, investors and potential investors. These updates do this by giving clarity through metrics, sharing both good and bad news early, and including mentors/investors in your journey by asking them for things. Only one founder needs to do this and send it out by the end of each month.
Who?
- Send it in a way so you can track who opens it (Mailchimp, etc)
- Best practice: after EVERY conversation you have which is valuable ask at the end “would you like to receive monthly updates from me?” ← 99% of people will say yes