I’ve taken RRE Venture’s excellent investor update post and improved it. Mistakes are mine alone.
My additions and changes are in bold italics and preceded with “TY”.
Investor Update [TY: Once you do this once, updating it each month is easy.]
[TY: Remind Us What You Do:
- TY: This is particularly important if you are updating potential investors or your update is going to syndicate backers or LPs.]
- [TY: Moved this up to 2nd since busy investors might not read your entire update. Get the most important ask in front of investors right away, after — if necessary — reminding them what you do.]
- Where do you need the most help from your investors and advisors?
Hiring: [TY — I moved this up because hiring is critical. You must fill your gaps and move fast. ]
- Were any key employees hired or fired?
- What positions are currently open
- What milestones or accomplishments are you most proud of? [TY: list up to 3]
- What are the things you’re most disappointed about? [TY: Founders almost never say this so just add one thing you learned and your plan to fix this going forward.]
- What has shipped and has the roadmap shifted?
- How is the business / product performing? [TY: What’s the evidence you are making something some people love?]
[TY: Fast Cheap Tests]
- What tests have you run? What did you build? Ship? Test? Learn? Iterate?]
- Did you close any notable deals / partnerships?
- What opportunities are in the pipeline?
- How much cash is left in the bank?
- What is the current burn?
- When do you run out of cash? [TY: At least provide this. It can be a range, e.g., at current burn rates we’ll have x months left but if necessary we can extend that another y months.]
- Any notable press mentions? [TY: This is mostly a distraction. I’d omit until you’re sure you’re making something some folks love.]
- Which investors and advisors went above and beyond to help the company?
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