Your first call with a potential acquisition target isn't just a casual conversation—it's the beginning of what could be a high-impact transaction. Done well, this conversation builds trust, sets the tone, and helps you quickly assess whether there's a strategic fit.

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Whether you're speaking to the owner of a small creative studio or the founder of a $5M performance agency, preparation is the difference between a dead-end call and a deal worth pursuing.

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Here's how to walk into that first conversation with clarity, confidence, and intent.

Clarify Your Objectives

Before scheduling the call, ask yourself: What am I hoping to learn, validate, or confirm?

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Typical objectives for a first call:

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• Gauge founder motivations (e.g., retirement, growth challenges, market shifts)
• Understand the agency's core services, size, and structure
• Assess cultural and philosophical alignment
• Set expectations around next steps
  
  

Pro Tip: Don’t try to "sell" on the first call. Focus on listening, asking thoughtful questions, and building rapport.

Research the Target Agency

Do your homework. The more informed you are, the more productive the conversation.

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Look into:

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• Website, services, and positioning
• Team size and structure (use LinkedIn)
• Client roster, industries served, and case studies
• Social media presence and engagement
• Recent changes (rebrands, leadership moves, layoffs)
  
  

Pro Tip: Use public info to ask deeper, relevant questions like, "I noticed you shifted toward eCommerce in 2023—how has that changed your client mix?"

Pre-Call Personal Prep

To establish a genuine relationship and lay the groundwork for transparency, make sure you know the following:

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• Who am I calling?
• Their name, location, and proximity to major cities
• Visual age and years in business
• Additional personal background
  
  

Pro Tip: Take 6-10 seconds of deep breaths before the call to center yourself.

Define Your Evaluation Priorities

Create a shortlist of 4–6 key aspects you want clarity on:

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• Revenue range and service margins
• Delivery model (in-house vs. contractors)
• Key clients or industries
• Team size and key roles
• Growth trajectory or stability
• Owner’s post-sale expectations
  
  

Pro Tip: Keep the dialogue conversational. You’re exploring alignment, not interrogating.

Prepare Smart, Open-Ended Questions

Have thoughtful, open-ended questions ready to uncover how they think and operate:

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• "How has your role evolved over the past few years?"
• "What types of work do you say no to?"
• "What are you most proud of in the business right now?"
• "Where do you see the biggest friction day-to-day?"
  
  

Pro Tip: Communicate something personal first to foster comfort in sharing.

Set the Tone with a Clear Agenda

Build rapport on the opening by introducing yourself. During the introduction make sure to cover all of the following: Credibility, Curiosity, Anticipation, Abilities, and Strengths, Your Title, Your key Acq Interest/Criteria.

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Example opening:

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• First Sentence: [YOUR NAME] and a punch credibility statement.
• Second Sentence: another credibility statement anchoring your expertise and authority on a subject.
• Third Sentence: your reason for reaching out and why it is relevant today.

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After introduction, make sure to review the purpose and objectives of the call.

Closing the Call

Clearly state the next steps:

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• Suggest progressing to a second call if there's alignment
• Propose signing a Mutual NDA if moving forward

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Example:
‘I have a call coming up, and I have already had you on the phone for 20 minutes. I learned so much about you, and your business. However, I haven't had time to talk with you about our process and how I can help. If it's ok with you, I would like to get a Mutual NDA in place and schedule another call to deep dive into your business and share more about us. 

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I have one key aspect I’m looking for to continue the conversation. That I like the person. I like you, and [pause to have them reciprocate]‘ 

Post-Call Actions

Immediately document:

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• Impressions (positive or negative)
• Clear dealbreakers or alignment signals
• Decision on next steps and on bringing in other members of the team
  
  

First Calls Build Foundations

The first conversation with an agency owner is about opening a relationship. Approach it with intention, empathy, and structure to quickly identify if the opportunity is worth pursuing.

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