Ty Danco and Dharmesh Shah recently published an excellent guide for entrepreneurs on communicating with investors. They have given me their permission to share it here.
The Why and How Of Updating Your Angel Investors
There’s a massive amount available on the interwebs on how to improve the odds for success in new ventures. But almost nothing concrete is available on the care and feeding of your investors. You can do all of the Lean Startup experimentation you want, but we’re here to tell you that one of the the easiest and most underrated skills that a startup CEO needs is knowing how to keep your investors updated, excited and engaged.
The reason is: The CEO is the investor’s user interface into the business. It’s how investors see what’s going on, and in some minimal ways, interact with the business.
We polled several early stage investors (including ourselves) that have 30+ investments each under their belts, and asked them their advice for entrepreneurs on how best to communicate with them and update them on the business. Here are the results. [Read more...]