What goes in
Keep the same headings every month so readers can compare.
- One line on the most important thing that happened.
- The same few numbers every time, each with last month's beside it.
- Cash in the bank, what you spent, and how many months that leaves.
- What went well and what did not, and what you are doing about it.
- Specific asks: an introduction, a hire, a piece of advice.
- Who joined or left the team.
Keep it honest
Report the numbers as they are, for the month they belong to, and say plainly when something went wrong. Do not present a forecast as a result. An update that only ever has good news soon stops being read, and the people reading it are the ones who can help with the bad news.
An update to people who have already invested is different from asking new people for money. How a company may invite investment is regulated; ask a lawyer before you send anything that does.
Who receives it
Your investors and advisors, and anyone else you have promised it to. Mark it confidential, and leave out customers' personal details and anything you would not want forwarded.
The update
Replace everything in square brackets. Keep it to one page.
[Company name] update, [Month Year] Confidential: please do not forward. In one line [The single most important thing that happened this month.] Numbers (for the month ending [date]) - [Your main measure, for example paying customers]: [this month] (last month: [number]) - [Revenue for the month]: ₹[amount] (last month: ₹[amount]) - Cash in the bank: ₹[amount] - Spent this month: ₹[amount] - Runway: [months] months at this month's spending What went well - [A win, with a number if you have one] - [Another win] What did not - [A problem, and what you are doing about it] Asks - [A specific introduction, hire or piece of advice, and who might help] Team - [Who joined or left, and who you are hiring] Thank you, [Your name], [role]