Each month I send an email to a dozen friends. The email shows, in a few bullet points, how [[Side School]] is going. Revenues breakdown. Failures. Hiring decisions. Monthly objectives. This is an investor update. Yet I don’t have any investors. Why would you do that Ben?  Here is what my monthly update looks like:  Investor updates are a fantastic forcing function to deliver great work: 1. **Stay focused**: a monthly recap is a good way to assess what's failing and double down on what's working. It's forced introspection. It sets the rhythm for continuously improving. In my experience, I tend to achieve more when I set myself a monthly tempo, not quarterly (too far and vague), not weekly (too fast, not enough data).  2. **Stay accountable**: freelancers don't have bosses, we're entrepreneurs of ourselves. Writing and talking about an objective crystalizes it: you'll have to do it out of fear to disappoint others ([[Experimenting with accountability deals]]). 3. **Create serendipity**: by letting others know what you're doing, they're more likely to mention you to the right person at the right time. Frequent updates create luck.  4. **Create transparency**: finally sharing your MIU publicly brings more advantages. Public companies and [open startups](https://baremetrics.com/open-startups?ref=supercreative) do this, some [indie hackers](https://makehub.io/?ref=supercreative) do too. Freelancers should be next. Being more open about what works and doesn't would push many to learn faster (charge more! charge for your calls! specialize! sell your strategic thinking!). Sharing our process and building in public doesn’t require a lot more effort, it creates trust and consolidates the idea that we're experts. I gladly show how the sausage is made. ‍ ## **A few strategies for great MIUs** ### **Simplicity** I pretend my update recipients are low time & attention executives, it’s an investor update after all. I write with simple bullet points and I start with my conclusions. I remove superlatives. This makes my monthly update punchy and straightforward.  My first 6 monthly updates were just emails I sent with the default email app. If you're on your way to the [[Hyper Freelance Model]], building up a monthly update newsletter is a solid way to launch new products, courses and keep clients in the loop.  Writing my monthly update generally takes me one hour to do: I just fill out the template above. ### Objectives Something magical happens when you write down where your future self will be: it becomes reality. This sounds childish, vaguely inspiring or self-help-like, but it's true. Projection works. Formulating smart goals - specific, measurable, achievable, relevant and time-bound - drives us towards execution. Don’t write “I’m going to have more clients” as your next month's objective. Write instead “Get 20 leads and convert 2 by October 30, 2020”. The formula “'Action verb' 'measurable thing' by 'specific deadline'” is powerful. Personally I've been immensely driven by my objectives, so this is where I spend most of my time when I write my update.  ## Advocating for an anti-social network The best anti-social network is email. Everyone has email. It works across platforms. It's free. There are no ads. It is focused. Using emails make monthly updates feel more personal and drive more engagement than putting them on a social network or a blog. If you're starting your own monthly update, [send it to me](mailto:[email protected]) and I'll gladly subscribe.