It's essential finding new potential customers with low risk, a strong position in terms of structure, and avoiding the presence of negative events that could affect credibility. Or at least being prepared to adopt specific policies.
If this is true for the domestic market, it is becoming increasingly important for companies with a worldwide market, where identifying the right company combined with the right information could be challenging.
The SkyMinder approach to Business Development, both for customers and suppliers, is, after having identified a short list of potential partners, to use business information to better understand if a company is showing potential risks or opportunities. The aim is to know a potential partner before it becomes a customer or supplier, to make an informed decision about whether to proceed or not with the relationship, and to decide the best approach having the right information, as the presence of any negative events, in your hands.
If a negotiation lasts months, monitoring the potential partner to understand if there are any changes compared to the starting scenario is a good way to avoid issues in any future relationship.