Where we are (metrics + state of the company)
Open with two to four headline metrics — revenue, users, NPS, or whatever the company measures. Write the current value and the trend (up, flat, down) next to each. No context yet — just the numbers. The honest display of numbers builds trust before you say anything else.
What we shipped (wins)
The three to five most significant things shipped or accomplished since the last all-hands. Specific enough to be verifiable — not 'great progress on the product,' but 'shipped the boarding flow and reduced drop-off by 18%.' The people who did the work should feel recognized.
What's next (direction)
The two to three most important priorities for the next period. Not a roadmap — a direction. What should every person leave the all-hands knowing you're focused on? Write these as outcomes, not work items.
Honest update (what's hard)
One section that names what's genuinely difficult right now — a missed target, an organizational challenge, a market headwind. All-hands that are only wins and direction feel like propaganda. One honest hard thing builds more trust than ten wins.
Q&A / open floor
Reserve the last 15–20 minutes. Write questions on the board as they come in — this gives a visual record of what the company is asking and helps the facilitator notice patterns in real time. Unanswered questions get written in a 'follow-up' column.