We've become huge fans of weekly updates by our entrepreneurs. Not all of the entrepreneurs are doing this yet....but in time I expect (*hope) all of them do. The weekly updates have the following benefits:
- Require the entrepreneur to process their thoughts and their progress toward goals regularly.
- Assist investors who care about the success of the advisor to feel emotionally connected to the company
- Enable investors and advisers to proactively make suggestions and proffer guidance
- Make commitments of milestones (i.e. sales and revenues) to many people. The more people you say you're going to do something the more likely you are to do it -- if you don't do it, you have more egg on your face!