As a founder, updating investors often fall down to the bottom of the to-do list, doesn't it? You've got your hands full running your company, and sharing negative news may not be top of your list.
The thought of a tiresome obligation for the benefit of investors can be overwhelming. After all, you didn't launch your business to fire off check-ins to someone glued to Twitter, did you? You've got your hands full.
Actually, you're mistaken. Investor updates are more than just for investors. When done frequently, they're a powerful tool to improve clarity and efficiency as a leader, embed an operational rhythm within your team, and capitalise on your funding, thereby positively impacting your start-up’s trajectory.
So many times, companies have managed to score follow-on investments from their investors, and even get quick solutions to pain points they may be experiencing simply by sending an update.
Yes, investor updates may not save your business from failing, but they will help make sure that your investors are in the loop with what’s going on, which can give you an edge. Use these updates to show off your progress and get feedback from your investors who may have been through similar situations.