Monthly Investor Update Template

Send the update on a predictable schedule. Use the same core structure each month so changes are visible without rebuilding the report.

Subject

[Company] investor update - [month year]

1. Summary

Three to five sentences:

• the most important progress;
• the most important setback;
• the current priority.

2. Key indicators

Show the agreed indicators with:

• current value;
• previous value;
• target;
• short explanation of material variance.

Use the indicators that reflect this company’s operating model. Do not add metrics only because other startups report them.

3. Cash and plan

• cash available;
• material change in monthly spending;
• expected runway using the current plan;
• major budget variance;
• financing decisions approaching.

4. Product and customers

• what shipped;
• what customers used or rejected;
• sales or implementation progress;
• evidence that changed the product or market view.

5. Team

• key hires or departures;
• open roles that affect the plan;
• organisational decisions investors should understand.

6. Risks and problems

State:

• what is known;
• what is not yet known;
• what the team is testing or changing;
• when a decision or new information is expected.

Bad news becomes harder to solve when it is delayed or softened beyond recognition.

7. Decisions

List important decisions made this month and decisions expected next month. Note where investor consent or discussion is required.

8. Requests

Make requests specific:

• an introduction to a named type of customer;
• candidates for a defined role;
• experience with a particular market or contract;
• feedback on a stated decision.

9. Next month

Close with the three most important outcomes the company intends to reach before the next update.

---

Source: adapted and translated from “Comiesięczny update” in the Polish original Anioł w Piekle (2021).