Many startups successfully use the PPP (progress, plans, problems) methodology format for their investor communications. A product we created, Weekdone (
http://weekdone.com/) is something many startups now use to inform their investors, board or even internal team on their status. We'll add the option soon to create your own sections and rename the headings, as well as other periods than week (eg monthly, bi-monthly, daily etc). Any feedback is welcome.