Sam Corcos, co-founder & CEO of Levels, discusses the significance of investor updates and the challenges of sharing positive and negative numbers. They also explore the unpredictability of startups and the importance of self-confidence. The evolution of investor updates and their delegation process is highlighted. The chapter emphasizes the value of transparency, accountability, and anticipating investor questions.
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Quick takeaways
Public investor updates promote transparency and accountability, giving potential stakeholders a realistic view of a company's progress and challenges.
Delegating the writing process and consistently publishing updates, regardless of length, are key steps in establishing effective investor updates.
Deep dives
The Value of Public Investor Updates
Sam Corco, CEO of Levels, discusses the decision to make their investor updates public, citing transparency and accountability as key reasons. By sharing updates, potential recruits and stakeholders can get a realistic view of the company's progress and challenges. Level's approach emphasizes openness, even when facing setbacks, as it builds trust and aligns expectations.
The Evolution of Level's Investor Updates
Over time, Level's investor updates have grown in size and complexity to reflect the company's expansion and increased initiatives. Initially, the updates were concise, but as the team grew and more sections were added, they became more comprehensive. Sam Corco delegates the writing process to various team members, with the bulk of the content written by administrative staff. The updates are published monthly on a consistent date, regardless of length.
The Role and Benefits of Investor Updates
Level's investor updates serve multiple purposes, primarily providing visibility and transparency to investors. They enable stakeholders to track progress, hold the company accountable for its commitments, and build investor confidence. The updates also foster engagement by seeking feedback and leveraging connections. Sam Corco encourages founders to share relevant metrics, especially revenue numbers, to address common investor questions. Starting with a commitment to consistent updates and delegating the writing process are key steps for founders looking to establish effective investor updates.
Episode 67: Today, Alex Lieberman (@businessbarista) is speaking about investor updates with the most qualified guest in the world. Sam Corcos (@SamCorcos) is the co-founder & CEO of Levels, a healthtech company focused on metabolic health using continuous glucose monitors. Sam is an exceptional entrepreneur, and Levels’ investor updates are the most comprehensive, thoughtful snapshot of a business that Alex has ever seen. Sam and Alex talk through Levels’ investor update, and what goes into creating a great investor update for your company.