A first conversation is not a diligence session. We are not asking for numbers we have not earned, and we do not expect a polished deck.
We are trying to understand three things. Who built the business, and why. What the business actually does for the customer who pays for it. What the founder would like the next chapter to look like.
If those three things line up with how we invest, a second conversation usually follows within a week. If they do not, we will say so. We would rather be quickly honest than slowly polite.
Founders who get the most out of a first call tend to come with one or two questions of their own. The best ones are about how we behave when something goes wrong.