Most entrepreneurs are terrible at regular communication. We are a busy people! That being said, it is one of the easiest ways to keep people bought in, informed and interested in what you are doing.
If you have investors a monthly update is a must. First of all, it provides you a regular opportunity to ask for help/introductions from people that have a vested interest in your success. Additionally, investors need to know what is going on with their portfolio. If they never have to ask for an update it will save everyone time.
Structure of Email:
1. General Update
2. Highlights
3. Lowlights
4. Help/Asks
5. KPI’s
Here are a few General Rules to stick by:
1. Set a regular schedule that people can expect. I recommend monthly unless you have a specific sprint/reason to update on more often.
2. Be open and honest.
3. Make sure you ask before you add someone to your list.
4. It is ok to have two lists – investors and mentors.
5. Use bullets and lists as often as possible. This isn’t an essay it is a quick update that should be quick and easy to get through. If people want more color, they will ask.
Recent Comments