Step 04 · Audience · Optional
Skip, use standard framing →The data doesn’t change — but the framing of the diagnostic shifts toward what your specific audience will scrutinize. An LP and a bank lender are looking at the same numbers through different lenses.
What shifts
For an LP, we lead with the moat and the exit. For a bank, we lead with the ADR coverage and the occupancy floor. For a design partner, the whitespace story. Same facts — calibrated for the room.
Who's in the room?
Sets the framing voice for the diagnostic — risk tolerance, time horizon, and what they'll push back on hardest.
What's their most likely objection?
We'll weight the diagnostic to address it head-on — so the answer is in the brief before they ask.
What have they already seen from you?
Helps us calibrate depth — a first-touch pitch deck and a final diligence request are very different documents.