Think of monthly updates as informal letters that you write every month to your investors (or more generally your stakeholders). Stakeholders that are involved with a company, want to know about your upcoming plans, progress made so far and any challenges that you are having. While bigger companies often have to do regular formal reporting, there are no set rules for smaller/younger companies. Our experience shows however, that a monthly update routine is best practice.
To start a monthly update, simply click on the “Create New Investor Update” button under Investor Update. In the popup that appears, the monthly update should be immediately visible.
What is the difference between a Blank Custom Update and a Monthly Recurring Update?
The main difference is that a monthly recurring update is recurring each month on a fixed schedule. Custom updates can be sent anytime and are not automatically generated.
In addition to the regular schedule, we made it easy to update any KPIs during the update process. The benefit of the monthly update is there is an extra step that allows you to quickly update your KPIs each month, instead of doing that outside of the update process.
Where does the monthly recurring update come from?
After you first register, we already setup a standard update template for you to use! Based on this template we automagically create a monthly update for you. If you change the content of a monthly update once, it will be copied to a new update next month, so you can quickly get going and then continue each month with your own monthly update template.
When is a monthly recurring update created and until when can I write the update?
For the monthly recurring updates, there is a fixed schedule which makes the update available on the 27th of every month. You can still access and publish old monthly updates; however, they will not be shown in the new update popup anymore.
On the 15th of every month a monthly update becomes “overdue”. That means you didn’t manage to write an update in time and should try to do that until the end of the month. There is no real consequence if you miss an update, however your stakeholders will see that you missed an update and might inquire why you haven’t updated them yet.