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10 Hacks to Have Happier Investors
- Having good relationships with investors can make a huge difference to your stress levels and, as a result, the overall success of your company 's growth. Here are 10 relatively painless steps to keeping your investors happy.
- Send out Monthly Investor Updates — 48 Hours After the Month Ends. Your best hack to keep VCs happy. Spend no more than 20 minutes on it, and make it clear and concise.
- Get Board Meeting Materials Out 3 Days Before the Board Meeting. Sending out slides the morning of the meeting shows a lack of organization. Send it early for maximum impact.
- Have Clarity on, and Share, your Zero Cash Date. Know when you are running out of money and share that with everyone. Be transparent to everyone and everyone knows how to plan.
- Have Your Team Present More, and You Less. Don't try to talk over your weakest VPs and managers. Let them present, and it’s ok for others to see which leaders are stronger than others.
- Regularly Ask Your Investors How Happy They Are on a Scale of 1-10. Learn your Investor NPS at board meetings and better understand what VCs like and dislike.
- Transparency is Key, But Stay Positive. Investors need not only the truth but also the positive reinforcement, even during the tough times.
- Invest More Time In The “Heavy Lifter”. Spend more time with the investor who helps you recruit the team, raise capital, promotes the company, and be its biggest champion.
- Don’t Expect Another Check from Any of Them. Assume none of your investors will invest again.
- Bring Your Investors Together. Do an “investor meeting” once a quarter, even if you don’t do board meetings, to bring all your teams together, both external and internal.
- Most Importantly — Do Not Hide Bad News. Communication and updates tail off during tough times, and that’s backward. Any bad news must be shared, and without judgment.
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