Here’s why you should send weekly updates to your investor

Have you ever been overjoyed because you found the perfect investor for your startup? Well, if you did, congratulations, you are on the road to building your dream business.

However, getting investors is just the first step, but maintaining healthy professional relationships is the real deal.

So, how do you ensure your investor is invested and does not lose interest in your vision and idea?

Well, the answer is simple, weekly updates.

In an article covered by HustleFund, Only 60 out of 200 investors received updates from their companies in April 2020.

Most startup owners do not pay heed to nitty-gritty details when it comes to investors, resulting in failed ventures. Weekly updates may seem insignificant, but trust us, it plays a massive role in the success of your business when it comes to startups.

From sending email updates to constantly staying in touch can make your investor feel valued, respected and most importantly, SEEN.

And if you are still not convinced, here are five essential reasons why you should send a weekly update to your investor.

1. Basic etiquette

The first and foremost reason you should send them weekly updates is that you owe it to them, and they deserve it.

If it wouldn’t have been for them, probably you might be struggling a bit with your startup. As an investor, they put money into your company, and they deserve to know what are you doing with it.

However, a lot of people give quarterly or monthly reports. But if you think about it, you need to build a relationship with your investor. It is your duty as a startup owner to make your investor feel validated and welcomed. Investors should have a holistic understanding of how the company is doing.

2. Helps in finding new investors

Weekly updates to investors give your company an edge over all the other companies they might have invested in. When you constantly keep in touch with them, you repeatedly remind them of your existence, work, and vision. It encourages them to support you by promoting your company to other investors and stakeholders.

If they aren’t aware of what you have been up to, they probably will hesitate to make any recommendations or introductions.

3. Builds accountability

One of the key elements for sending weekly updates is to build accountability. As a startup owner, you might have set some objectives and goals, and when you keep your investors informed, you are entitled to fulfil those goals.

For example, you decide to get at least one major project by the end of the week, and since you are being held accountable, you would make sure that happens by hook or cook within a few days. Your goals, weekly targets and routine will be set accordingly.

When it comes to accountability, business owners are more likely to enjoy the benefits of it. By sending updates at the end of each week, you constantly monitor and set new targets and move ahead.

4. Maintain a relationship

An investor is like a friend to whom you owe an explanation of details.

Maintaining good relationships and professional boundaries is a crucial element of updating weekly to investors. As a startup owner, you can leverage his colleagues and contacts for your good.

Maintaining professional and healthy relationships will make you build multiple connections. For getting more projects in the future, you must have a professional bond with your investor.

5. Get Help

The last but not the least reason to send weekly updates is to stay transparent and honest so that when in need, your investors can come forward and help you out.

Many startup owners avoid keeping the investors in the loop to get away with disappointments and judgments.

But in the end, if you think about it, the company is as much his as it is yours.

If there’s a fall, all are the bearers of it. So rather than lying to your investors about the performance, funds, staff or any other business-related issue.

Stay transparent. Include both losses and gains in your weekly updates.

Make sure your investors know about what is going on in your organisation and how you handle it.

By now, you should have a fair idea of how weekly updates can benefit you and your business. Even though quarterly updates are doable, but weekly updates are nothing less than a game-changer.

From building impressive email templates to writing a copy for your investor, it can also enhance your fundamental communication skills.

As an entrepreneur, it is easy to get lost with millions of things on your plate. But having a structured weekly update for you and your investor can save you a lot of time and energy. So what are you waiting for?

Get started with writing an update for your investor.

And in case if you are just getting started and are looking for investors for your startup. Check out Bolstart It is a platform where you can connect, share and communicate with other investors and entrepreneurs.

A social network for entrepreneurs.

Make sure you find the right investors for your dream startup.