If you are a founder and send monthly updates, you increase the acceleration of your business. If you are a mentee and send monthly updates to your mentors, you increase your development. I learned this when I was an analyst at Goldman Sachs in 2001. How do I update everyone who has invested stake in my success without bugging them and “picking their brain?” How do I stay in touch with people without asking them out to coffee? How do I make sure whatever I need is at the forefront of their minds on a reoccurring basis? How do I keep the fire warm so when I come back to them in 6-12 months they have been kept abreast of my development? MONTHLY UPDATES. Here are major keys to updates if you are a founder and if you are a mentee.
This is verbatim what @casper sent me when they started:
1) Opening: how great the month was, a quick summary.
1) Overall update, stay positive and grateful
2) Update on projects worked on and things learned
3) Challenges you are working to overcome (advise welcome)
4) Feedback from co-workers
5) What your goals for the year are
6) How anyone can help
So if you have mentors or you are a founder and you aren’t sending these you decrease the engagement in your own ecosystem which lowers conversion rates in whatever your future ask is. Happy hunting!