Why Investor Updates are Really Important

Serial entrepreneur, angel investor, podcaster, and writer Jason Calacanis writes in his blog on the importance of regular and often investor updates from companies:

"If your startup isn’t sending you monthly updates it’s going out of business.  I know this because with two of my investments I found out that they were out of business because I emailed them over and over asking for an update. When the update finally came it was, “can we talk?”  When someone says “can we talk?” it’s over.  Today I keep a spreadsheet. The columns are the months of the year and the rows are the startups I’ve invested in. We check off the date in the month that we got the last update.  When we look at this spreadsheet — and we look weekly — we know instantly who is in trouble and who is rocking. If someone misses their second month I instantly call them on the phone — so I can help!"

Editor's note:  apparently there is an Austin company outsourcing help with this called AngelSpan.