The first call with a founder isn’t about numbers.
It’s about trust.
Too many buyers blow the first conversation by:
Asking about financials too soon
Sounding like a spreadsheet in human form
Talking at the seller, not with them
The best buyers know:
The founder isn’t just selling a business. They’re handing over their life’s work.
So if you want to win the deal later, you need to win them now.
Here’s What Sellers Are Really Thinking
When a seller agrees to chat with you, they’re evaluating:
✅ Can I trust this person?
✅ Will they treat my team/customers right?
✅ Are they credible and serious, or just kicking tires?
✅ What will the process look like if we go forward?
And most of all:
Do I actually like this person?
The Right Way to Run the First Call
✅ Ask About the Journey
“How did you get started?”
“What’s been most fulfilling?”
“Why now?”
These questions build rapport and signal respect.
✅ Don’t Jump to Numbers
Save revenue, margin, and SDE questions for later. Focus on vision, operations, and motivation.
You’re here to understand the why behind the business, not audit the P&L line by line.
A buyer who says nothing about themselves = red flag. Sellers want to know who they’re talking to.
Briefly explain:
What you’re looking for
What you’ve done before (if relevant)
What makes you a good steward for their company
✅ Keep It Casual, But Intentional
Don’t talk like a banker.
Don’t act like a best friend.
Be approachable, clear, and honest.
You’re not trying to close the deal. You’re trying to earn the right to keep talking.
Bonus Tip: End With Clarity
Don’t just say “great chat.”
End with one of three clear outcomes:
Not a fit (and say so)
You’ll send a follow-up and next steps
You’d like to explore more and will propose a process
People Sell to People
The best deals happen when the seller wants you to win.
And that starts on the first call.
Treat it like a first date, not a due diligence session.