Some of you know my feelings about the incredible value of a startup CEO sending out a weekly update to the company’s board. See The Weekly Update.
Steve Blank has taken this to a new level – put it on steroids. In his post today he writes about having an enhanced version of the weekly update replacing board meetings for companies that are in the angel funded stage. I am not sure if eliminating board meetings completely is the right answer, but I currently recommend fewer board meetings (one half in fact) for companies in our portfolio that practice the weekly update routine (and that applies for those well beyond angel funding). The real time updating is teamwork at its best. I could be convinced that Steve is right. It is all about results driven communication between the management team and the board and often certain investors.
Here are links to Steve’s posts. Enjoy.