Board Update Template

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Q2 2023 Board Updates

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Using Coda for Board and/or investor updates allows you to consolidate all past updates and solicit feedback and commentary all in one doc. When it’s time to prepare a new update, just duplicate the previous page and start updating (make sure you choose the “duplicate data” option)!

🏗️ Customize for your use case by replacing these example updates with relevant information for your company.

Company Updates

🏗️ Quarterly Progress

First, we'd like to report that we continue to see strong growth in both the number of farmers on our platform and the volume of produce sold. This quarter, we added 25 new farmers to our platform, and we saw a 18% increase in sales compared to the previous quarter.
Additionally, we launched a customer loyalty program that rewarded repeat purchases with discounts and other incentives. This program resulted in a 25% increase in repeat purchases during the quarter.
Finally, we formed a partnership with several local restaurants, providing them with access to fresh, locally-sourced produce while also generating additional revenue for the farmers on the platform.
The Company conducted customer surveys to gather feedback on the platform and identify areas for improvement. Based on this feedback, the Company is planning to invest in additional features such as recipe suggestions and personalized product recommendations.
For More Detail, please see Board Slides:

↗️ Areas of Improvement

Increasing the number of farmers and variety of produce: While it's great to have a solid number of farmers on the platform, increasing the diversity of products available could attract more consumers and drive more sales.
Enhancing the user experience: Although the platform has made improvements to the user experience, there may be additional ways to make it even easier and more intuitive for consumers to find and purchase the produce they want.
Building stronger partnerships with farmers: It may be worth exploring ways to foster deeper relationships with the farmers on the platform, such as offering more support and resources to help them grow their businesses.
Exploring new revenue streams: In addition to taking a commission on sales, the platform may want to consider additional ways to generate revenue, such as offering premium subscriptions or selling advertising space.

💲 Finances

As of June 30, 2023
Cash: $30.65M
June Burn: -$1.6K
June Net Income: -$1.1K
Runway: 26 Months

📆 Plan for Next Quarter

Increase the number of farmers on the platform: The startup could aim to onboard at least 25 new farmers in the next quarter to expand the variety of products available to consumers.
Expand Platform Offerings: Update marketplace to include additional features such as recipe suggestions and personalized product recommendations.

Board Asks

I can help
Do you have any insights on how we can expand into new geographic markets?
Can you review our data privacy policies and suggest any improvements?
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I’m done reading:

Async Discussion

Sentiment: How do you feel about Company progress?

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submitted with average sentiment of
Loyalty program results are great
Adam Davis
We have onboarded many local farmers. Time to move on to new geos.
Mary Jones
Don’t let the additional features take away from our core offerings.
Polly Rose
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How do you feel about our plan for next quarter?

Looks Great!
I’m Unsure
I’m Concerned

Topics for discussion

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Do we expect customers to be distracted in during the summer months?
Buck Dubois

How are we thinking about enabling integration of AI (in all forms) more deeply into our product to enable differentiation in our services?
Mary Jones

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