Tuesday, December 16, 2014

Introducing: The One-Slide Update Deck

When we start to work with a new portfolio company, one of the things we always suggest is that in addition to (sometimes lots of) ad hoc communication via eMail, Skype, Basecamp, etc. we set up a standing meeting or call, at least during the first 9-12 months following our investment. Typically it's a one-hour monthly call, and the purpose of these calls is to get us updated and to talk through current issues. Our experience is that these calls are a very effective and efficient way to discuss things and to find out how we can help. The last thing we want to do is be a burden on the founders, and so we try to be very respectful of the their time (even if we're not as efficient as Oliver Samwer with his famous "supercalls" - 12 hours, 180 companies, or something like that).

Just like a regular Board Meeting, these monthly calls work best if the investors get an update before the call, so that the call can be spent discussing key challenges rather than spending too much time going through numbers and updates. And that brings me to the topic of this post: The One-Slide Update Deck.

Founders often ask me if I have a preferred format for updates and KPIs. And while I can point them to my SaaS metrics dashboard for KPIs, we've never had something like a template for other updates. So here's my attempt to create a super-simple deck which you can use to update your investors (or me!):

The idea is that in the beginning you create a rough roadmap for the next 12 months, broken down into key areas like Product & Tech, Sales & Marketing and Team/Hiring (see slide 1), plus a financial plan. Better yet, you already have a plan :-) and you discuss that with your investors to get everyone on the same page.

Then, every month you create one slide which shows progress and problems, as well as the original plan, in each of the three key areas, plus key metrics. I've borrowed the "Progress, plans, problems" technique from Seedcamp; the metrics are taken from my own SaaS dashboard template. So just one slide, once a month, with information you should already have anyway, and you should have a great basis for highly productive calls or meetings with your investors.

It obviously doesn't matter if you use Keynote, Google Docs or something else, and depending on the needs of your company you may want to emphasize different key areas or include other KPIs. So this isn't meant to be prescriptive but rather a suggestion or a starting point for founders who are thinking about reporting for the first time – if you are already providing more comprehensive monthly reports, don't change it!

If you want to take a closer look, here is a PDF and here is the original Keynote version.

Thanks to Nicolas, Rodrigo and Michael for providing valuable feedback on the draft of the slides!


Andrew Thompson said...

Christoph, it looks like the "original Keynote version" at the end of your blog post is no longer at that Dropbox link.

chrija said...

Thanks for the pointer Andrew!

Does this link work for you?


Jay Melone said...

Adding structure to investor updates is just as important as the initial pitch meetings. These slides look helpful. Nice work, Christoph.

Andrew Thompson said...

That works, thanks Christoph.

Richard Hughes-Jones said...

I love posts like this, thank you Christoph! Really brings order to the chaos of a rapidly scaling startup and your standing meetings/call approach is an excellent intro to good governance.

Out of interest, and as you name check Seedcamp, would appreciate your thoughts on this: http://seedcamp.com/resources/how-to-develop-a-lean-sales-strategy-for-your-startup/ as an approach that would integrate nicely with your update deck/approach.


cmorantz said...

Simple and brilliant. Thank you

stefano zorzi said...

Thanks! Modified version already in use!