Ranjani Rangan’s Post

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Storyteller | Host of "Digital Health Disruptors" Podcast

Can regular progress updates and reporting with investors make startups more successful? Bioverge Ventures CEO and and venture capitalist, Neil Littman, thinks it could be the case. Here are 4 Reasons why: 📌The Phenomenon of “𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐇𝐲𝐠𝐢𝐞𝐧𝐞” Startups that regularly report to their investors exhibit what's known as "company hygiene." ▶️This means they maintain a disciplined and organized approach to managing their business. In contrast, startups that don't have this practice often lack structure and focus, leading to potential chaos. ▶️Disciplined startups could perform better because they have clear processes and accountability in place. 📌𝐓𝐡𝐞 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 If a startup hides its challenges, how is it supposed to get the support it needs? ▶️When there’s transparency, everyone wins. ▶️Investors stay informed and startups get to tackle their problems head-on. 📌𝐅𝐨𝐫𝐜𝐞𝐝 𝐑𝐞𝐟𝐥𝐞𝐜𝐭𝐢𝐨𝐧 ▶️Regular reporting forces startups to reflect on their progress. They get to analyze what’s working, what’s not, and identify the challenges ahead. ▶️This self-assessment becomes an opportunity to fine-tune strategies and decisions that would’ve otherwise been overlooked. It introduces a higher degree of intentionality. ▶️It’s a built-in mechanism for continuous improvement. 📌𝐏𝐫𝐨𝐚𝐜𝐭𝐢𝐯𝐞 𝐏𝐫𝐨𝐛𝐥𝐞𝐦-𝐒𝐨𝐥𝐯𝐢𝐧𝐠 ▶️Delaying action until a problem becomes critical is a sure path to disaster. Regular updates mean startups are constantly communicating their challenges and needs. ▶️Small problems get to stay small rather than spiraling out of control. – What do you think? Do startups who report regularly tend to perform better? Share your insights in the comments below 👇🏽 To dive deeper into this, tune into Part 2 of my conversation with Neil Littman: APPLE: https://lnkd.in/gXNPgxHm SPOTIFY: https://lnkd.in/gNtZMVrW  #charmhealthinnovationchallenge #charmhealth #chic

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