Working with venture capital partners is a critical part of a company's expansion phase. Investors will want to know what's going on with your operations, and you'll also want to find ways to keep them in the loop. Follow these three tips to ensure everyone will be on the same page.
Build a Digital Portal
If you don't already have a venture capital partner portal, developing one should be a priority. Venture capitalists want to be able to quickly log in and see the condition of their investments. A good portal should also send regular notifications regarding big developments. Automated emails, push messages, and texts are all excellent ways to loop venture capital partners in on developments.
You want to have a system that looks good and works well on all devices, too. Partners will have a range of systems they prefer, with some folks only using their phones and others working from wide-screen workstations in their offices. Thoroughly test your venture capital partner portal to ensure functionality and appearance on all devices.
A quality venture capital reporting system can make a huge difference. Reports can hook new investors, hold onto existing ones, and even drive expanded investments from current investors during new funding rounds.
Make sure reports are available in printed and digital formats. Push reports to the dashboard in the venture capital partner portal so investors can track developments. Send electronic notifications to let them know when new reports are available. Provide clean formatting so they can quickly print or export anything they need to review further.
It's also wise to have reports available in several formats. Some partners will want to see glossy PDFs and dashboards with charts. Others will want to get the data in spreadsheet formats so they can run analytics on them.
Whenever possible, try to drill down to a handful of key performance indicators that will explain how your organization is doing. Stick to the same KPIs across reporting periods to avoid confusion. If you introduce new KPIs or retire old ones, explain why the changes were necessary. Likewise, explain how the new numbers relate to the old ones.
Minimize the chattiness of reports, emails, and other messages. Venture capital investors want to see things like balance sheets and cash flows. Present the numbers as elegantly as possible, but keep the presentation simple and to the point.
Also, finish all messages with invitations for comments. Keep two-way communication channels open so you can gain from partners' inquiries.
For more information on a venture capital reporting system, contact a company like ARK PES.