Wed, 5 August 2020
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
After funding, you need to keep your family and friends investors informed on the status of the startup.
Consider the following:
Be transparent about the results and share both bad news as well as good news.
Stick to facts about the current state of the business and not just forecasts and plans.
Provide an update in writing on the following:
Lead off with short status updates about major initiatives, milestones missed or hit, and major customers or partnership opportunities.
Share the status of product development including test results, beta tests, and setbacks or breakthroughs.
Cover the key financial metrics, including actual versus forecasted revenues, cash on hand, current burn rate, and monthly and year-to-date revenues.
If additional fundraising rounds are underway, provide the status of fundraising goals.
Share details about new employees, finding a great co-founder, or securing an experienced advisor.
Detail key customers landed, important opportunities, and major marketing initiatives.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Direct download: Startup_Funding_Espresso_--_How_to_keep_your_family_friends_informed.mp3
Category: -- posted at: 1:35pm CST