Progress, plans and problems
Following my post on why you should spam your investors as much as you can, I thought it’d be useful to share something I learnt from the nice folks at Seedcamp: the investor email update. It’s quite simple but incredibly effective.
At the end of each month, all our investors get this email called “Brainient PPPs (September, 2011)”. PPP stands for Progress, Plans and Problems. For each category, I write the most important five items. Under Problems, I also ask for help directly (eg. Dave, Suster hasn’t replied yet - can you give him a nudge?).
Besides writing the PPPs, I also attached a one-pager with our KPIs (key performance indicators) for that month. It gives investors a quick overview of how the company’s progressing.
A typical email would look like this:
Hello everyone,We also use the same system within Brainient. Each Friday, every member of the team sends out PPPs to inform their team leader what they’ve been up to, what they’re planning to do and what problems they have. It works great because it keeps everyone in the team informed.
Here’s what we’ve been up to this month. As usual, I’ve bolded the most important stuff in case you just want to skim through:
Progress:1. Item 12. Item 23. Item 34. Item 45. Item 5
Plans:1. Item 12. Item 23. Item 34. Item 45. Item 5
Problems:1. Problem 1 - Dave, I need your help on this one2. Problem 2 - Sherry, could use an intro to X (will send a separate email that you can forward)3. Problem 34. Problem 45. Problem 5
I’m also attaching our one-page KPI sheet. Please let me know if you have any questions or suggestions.