Company updates to investors, advisors, and even mentors, are useful to you and the company. Actually, they’re critical. The whole point is to keep everyone closely in the loop (at least monthly) with things that are happening and what you might need. That means the good and the bad. Investors and others receiving that email can potentially react to the ‘bad’ or the ‘asks’ and jump in with advice, introductions, or personally help. Maybe the ‘good’ needs a small course correction, experienced opinions matter.
There’s another reason to do these updates that can feel a bit more intimidating or intrusive, and that’s showing everyone you’re making significant progress month-over-month. This can become a type of accountability to push the founders and company to make sure every update has substance.
Updates are something so many preach even though the consistent follow-through rate is low among founders, relative to the incremental value updates can add. Make sure you’re doing this, and not just during fundraising or anytime something great happens. You’re losing the real value-- help during the tough times --and those receiving the updates know you’re filtering what information is going out.