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My First Million

My First Million

The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.

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Write investor updates that build trust and get help

Startup founders raising money or managing investors

Monthly communication

What Success Looks Like

Investors understand your business health, offer help proactively, and maintain confidence in your team even during tough times.

Steps to Execute

1

Start with clear company description and mission

2

State whether last month was great, good, or bad in first sentence

3

List 4-5 key metrics with current numbers, month-over-month change, and progress toward annual goals

4

Include revenue, active users/customers, churn/burn rate, and cash balance

5

Explain why the metrics moved (what drove changes)

6

Make specific asks for help

7

Avoid fluffy content about new hires or product features

Checklist

Numbers are accurate and complete
Month-over-month changes are calculated
Progress against annual goals is clear
Explanations for changes are honest
Asks are specific and actionable
No important information is omitted
Update is under 2 pages

Inputs Needed

  • Current month KPIs
  • Previous month KPIs for comparison
  • Annual goals and targets
  • Specific areas where you need investor help

Outputs

  • Monthly investor update email
  • Stronger investor relationships
  • More targeted help from investors
  • Greater investor confidence

Example

“A SaaS startup sends monthly updates starting with 'October was tough.' Then shows revenue dropped 15% to $45K MRR (-$8K vs goal of $60K), explains it was due to failed affiliate experiment, states they have 8 months runway, and asks for introductions to two specific types of customers.”