[Company Name] Update
MM.DD.YY.
1. Highlights:
You should highlight any major milestones achieved during the month in this section. This may include booking a new sale/order or winning a strategic client. It should lead directors to ask the right questions and initiate a chain of actions that will enhance the ability of the enterprise to achieve its short and long-term aims and create sustainable shareholder value
Overall performance of the company;
Major wins and accomplishments.
Be sure to include hitting goals or exciting learnings from trying to achieve those goals.
Feel free to include stuff that was not part of the list of goals if they are important highlights.
Further breakdown of results by strategic business unit, where they are of a size material to the
2. Core Metrics
Monthly board reports should contain performance information relating to key operational issues as defined by the board: the critical success factors (CSFs) and key performance indicators (KPIs). The board and management should agree to the high-level KPIs to be covered in the report. Management should be able to drill down from high-level indicators to examine the underlying cause of a problem and identify appropriate action.
Metric Name
Explain the data in a few short sentences above a screenshot of relevant charts, graphs, or tables. Include previous months for comparison.
Include 3-5 similar sections – one per metric – depending on the specifics of your business, your goals, and your current KPIs.
3. Challenges
Include things that didn’t go well
Be sure to include missing goals and your reflection on what you are learning.
4. Goals
What are the top 1-3 things you are looking to accomplish in the next 2-4 weeks? Be specific because you should revisit them in your highlights and challenges in the next update.
5. Asks and Thanks
During the early stages of the company, you might require support and advice from your board & investors, use this communication to share your asks in areas you need immediate attention which you cannot wait until a quarterly board meeting.
Be specific about your asks.
Call out people who did helpful stuff. It makes the helper feel good and motivates everyone else to try to help in the future.
6. Finances
This should include data such as current month financials performance vs budget/prior year, review of financial forecast for the entire year, sales gap and pipeline review, financial results by SBU, etc.
Cash in the bank. Burn. Runway & cash-out date.
Monthly consolidated profit and loss accounts, balance sheets, and cash flow reported against budget;
Quarterly update of forecast results for the trading year;
Specific papers on new investment projects above an agreed size;
Updates, as appropriate, on major expenditures, such as acquisitions or large building projects;
You can download a ready-to-use board report template using the link below :