Effective internal communication among stakeholders (Management, Employees, Board, Shareholders, JV partners, etc.) is critical to coordinating efforts and maximizing the opportunities for success, but it doesn't just apply to startups...most companies would do well to try and systematize some regular forms of communication.
1. Quarterly (maybe monthly early on) board/advisors meeting
2. Weekly recap email of progress and "to do" items
3. Monthly Financial Statements *(email updated statements even if no revenue)
-- Income Statement (aka P&L)
-- Balance Sheet
4. Annual letter (recap and vision)
If you are looking to make a change for the better in your business, give it a try or work out your own plan and let us know how it goes. I bet you will be surprised at the energy and progress it will create.