This Week in Startups How to send effective investor updates | Startup Finance Basics w/ Kruze's Scott Orn | E1632
Dec 9, 2022
Scott Orn, COO of Kruze Consulting, shares vital insights on how startup founders can create impactful investor updates. He emphasizes the importance of including key metrics like cash balance and company goals for clarity. Scott also discusses how to communicate bad news effectively, fostering trust and transparency. By regularly updating investors, founders can strengthen relationships and maintain credibility, even during challenging times. Tune in for essential tips on navigating investor communications and building lasting connections!
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Monthly Updates
- Develop a cadence of writing monthly investor updates.
- This fosters discipline and communication with your investors.
Communicate Goals
- Communicate your yearly goals and fundraising milestones in each update.
- Regularly evaluating progress helps adjust plans and seek help early.
Key Metrics
- Start investor updates with cash balance, burn rate, and runway.
- Use a 3-month average burn rate and the last month's burn rate to project runway.