Weekly update / Exec memo

The weekly update should allow the recipient to understand the state of the product without meeting: write from changes and decisions, not from a list of actions performed; risk is accompanied by influence, owner and necessary help, otherwise it will remain a formal warning.

Why you need weekly update and exec memo

Goals and objectives

Weekly update is a regular summary for a team or management of key events, outcomes, risks and plans. Exec memo is a concise note for top management about critical changes, risks or strategic initiatives.

For both formats, it is critical: to save the reader’s time, to highlight the main thing, to provide a basis for decisions.

Wherever they’re used

At any level of the company: startup, IT-department of the corporation, global product teams.

Example: Weekly updates are often demanded by investors, and exec memo is the basis for quick CEO/CTO decisions.

The structure of effective weekly update

Basic template and its logic

Weekly updates usually consist of 4-6 blocks:

1. The main thing in the week is a compressed press, suitable for the first two paragraphs or paragraph.
2. KPI and results are only changes, significant numbers, noticeable deviations.
3. Risks and problems – what gets in the way, where you need help if there is an escalation.
4. Next steps are specific tasks/focuses for the next week.
5. In addition, if necessary: team comments, blocking, necessary resources.

Example:

The main thing: we have secured a new subscription, reached 5% conversion, but bugs in billing. Results: MAU growth by 3%, decrease in outflow by 1 p.p. Risks: Problems with payment integration – risking a deadline. Devops needs help. Plans: Fix bugs by Wednesday, start A/B test of new onboarding.

Typical errors and anti-patterns

• Write too many details.
• Do not specify specific actions or blockers.
• Ignore the negative or silence the problems.
• Duplicate old information.

Examples of errors:

The release was good, the team is doing well, everything is going according to plan. Such a report says nothing about the business and does not help to react.

The Structure of a Strong Exec Memo

Standard for reporting

Exec memo is always compact and stiffer in format: one page or screen, focus on decision making, minimal water and focus on details.

Recommended structure:

1. One or two sentences about a major change or problem.
2. Details are 2-3 key metrics or observations.
3. Why it matters: the impact on the business, the forecast, the possible consequences.
4. Decisions/requests – what is required of the reader: approval, decision, attention.

Example:

The problem with retention after the launch of the new tariff: retention is 10% lower than forecast. Metrics: DAU held up, conversions dropped 4%. Impact: Expect a minus $50k MRR this month. Request: Marketing support is required to improve onboarding, decision by Friday.

Exec memo (copy, complete)

What to do to make memo work

• Use the same structure. Everybody can read and compare quickly.
• Write short paragraphs. Don’t merge your thoughts into long blocks.
• Links are only for details - the memo itself is self-sufficient.
• Show your problems and progress.

A brief, structured executive summary saves management time and makes product work more transparent to the entire company.

Andrey Fedorov, VP Product, ProductStar Blog

Application and automation

How to Introduce into a Team

• One owner of updates, so that the texts do not lose focus.
• Fixed shipping time, for example, every Friday until 17:00.
• Keep everything in an open format – Confluence, Notion, Google Docs.

Example: In large teams, weekly update is integrated with the Task Tracker so that the main statuses for tasks are added by the automatic.

Automation and tools

• Tracking metrics: Google Sheets, Notion Databases, Jira/Clubhouse.
• Automatic reminder of the deadline: Slack/Telegram bots.
• Templates in corporate wikis for standardization.

Useful materials:

• Atlassian: How to Write Weekly Update
• Harvard Business Review: How to Write an Executive Memo

Frequently asked questions

What is the optimal weekly update?

One page, or the equivalent of 150 to 250 words, no more.

What day is the best to send weekly update?

It’s usually Friday before lunch or evening, and then you get the results and you have time to take them into account in your planning.

To chat or mail?

Depending on the toolkit, if the whole team at Slack is comfortable posting there, for large companies, mail or wiki.

What if you have nothing to write in a week?

To be honest, there’s been no significant change, and to briefly state the current challenges, if that’s the case, you need to talk to the team.

How does weekly update differ from task status?

Weekly update includes analysis and conclusions, not just status, and it’s not just a checkbox on tasks, it’s a picture for informed decisions.

Can I combine updates on several teams?

You can, if the structure is the same and there’s not too much information, don’t overload memo with details.