If your executive summary gets a VC interested, they will typically invite you in for a meeting or a call.

While the process varies by VC fund, a call typically means one of two things. Either the VC is interested in having you in for a meeting, but can't because of circumstantial issues (e.g., scheduling), or the VC needs a few high-level questions answered in order to see if you fit the investment criteria and determine if he wants to invite you in for a meeting.

All of the key high-level questions should be answered by a well prepared executive summary, so being asked for a call should compel you to revisit that your materials.

Try to figure out why you are being asked for a call as soon as possible, as it will help you figure out what you need to accomplish on the call. If you were asked for a call because the VC didn't have time to meet, your objective should be to "win" a meeting by sharing the next layer of the plan as they ask you questions. If you're on the call because the executive summary didn't answer all of their high-level questions, your objective should be to fill in the blanks. Don't provide them with tons of extraneous information; just give them what they need so that they can decide whether they want to invite you in for a meeting. Usually, their decision to have a meeting with you hinges on one or two questions that they had in mind before the call. Answer those clearly and concisely and then ask for a meeting.

Be sure not to forget that the call is your first impression. While the VC only asked for the call to have a few questions answered, they will be assessing your compatibility and competency. Be prepared to put your best foot forward.