Template

Investor update call template

For the people who put money in: the numbers, what went wrong, and what you need from them.

30 minutesFor FoundersAgenda room
Change the agenda first

The agenda, with a time for each part

  1. The three numbers that matter6 min
    • Up or down since last time, and why?
  2. What went well5 min
    • What worked that we will do more of?
  3. What went wrong7 min
    • What did we get wrong, and what did it cost?
  4. Cash and how long it lasts5 min
    • How many months, at this month's spending?
  5. What we need from you7 min
    • Which two introductions would help most?
    • What would you do in our place?

How the notes read afterwards

A made-up example, so you can see the shape. In a real call each line carries the words that were said and who said them.

Numbers. Revenue $41k a month, up 9%. 412 paying teams. Churn 2.1%.

Went wrong. The enterprise pilot ended without a contract; we priced it too late.

Asks. An introduction to a head of sales who has sold to schools.

Running it well

Ways to change it

Written monthly updateThe same five headings in an email, under 300 words, sent on the same day each month.
Before a raiseAdd ten minutes on how much, what for, and by when.
When things are going badlyRing the two investors who can help before you send anything in writing. Nobody should learn it from the update.

When to skip it. Skip the call, never the update. If there is nothing to discuss, send it in writing.

Questions

What should an investor update include?

The few numbers that matter, what went well, what went wrong, how much cash is left, and what you need.

How often should founders update investors?

Every month in writing. A call each quarter is enough for most.

What happens in the room

Everybody joins from the link, with no account. The agenda sits beside the call and each item fills in with what was said about it, under the name of the person who said it.

More templates

Nonprofit board meetingFor a charity or association board: approve the minutes, the money, the reports and the votes — in order, and on the record.Annual general meeting (AGM)The yearly meeting of members: the year's report, the accounts, the elections and the votes the rules require.Investor pitch meetingA first meeting with an investor: ten minutes of pitch, plenty of time for their questions, and a clear ask at the end.Board meetingHighlights, the numbers, the asks, and the votes — in that order.Leadership team meetingThe people who run the company, once a week: the numbers, what is stuck, and the decisions only this group can make.OKR planningThree goals for the quarter, how each one will be measured, and what stops to make room.Backlog refinementGo through what is coming next, make each item small and clear enough to start, and throw out what will never be done.New hire 30-day check-inA month in: what makes sense, what does not, and what they need to do the job properly.

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