Here’s an idea that not only could be very useful for your management team, but also for the investor for your next round. That thing is the weekly update. It might be a brief summary on updates on how you did during the past week against certain targets and what you’re expecting for the upcoming week.

It’s a way of communicating how you did in showing that you’re on top of things. It also gives a good impression that you are in touch quickly on a frequent basis and making rapid adjustments as needed.

I heard a private equity firm talk about how there’s somebody that they had passed on the investment, but they were saying that it could be considered for an upcoming round. That CEO of that company kept sending them a weekly update every week after that point. It was clear to them that this president had a good handle on his business. He was meeting the numbers more often than not and it was impressive to see the grass that he had on a weekly basis. When it came time in the next year to raise another round of capital, this time the private equity firm had their checkbook ready.

So, consider the weekly update not only can it be a great resource for your management team, but it also can be a tool for current or prospective investors to wet their appetite.