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| rickrice3 | 25 Oct 2024 - 17:04:53  |
| 6 Posts |
So, I recently had a situation that really made me think about risk assessment for my business. A few weeks ago, I almost signed a contract with a new vendor, but something felt off. I did a bit of digging, and it turned out they had some past issues with fraud. Thankfully, I caught it before signing anything, but it made me realize how easy it is to overlook the risk side of things when you're just excited about growing your business. Now I’m wondering, what steps do you all take to assess business risks, especially when it comes to choosing partners or vendors? Do you have any specific red flags you look for? Would love to hear some insights on this because I feel like it's something I need to prioritize more. |
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| martinharris | 28 Oct 2024 - 12:55:17 |
| 4 Posts |
That’s a really close call! I’ve been in a similar situation, and it's scary how some things slip through the cracks. One thing I’ve learned is to always do a deep background check on any partner or vendor before moving forward, especially when payments are involved. For businesses that deal with high-risk transactions, working with the right payment processor is crucial. A good resource for this kind of situation is using a high risk payment gateway https://highrisktech.com/ that specializes in industries prone to fraud and chargebacks. It can help minimize a lot of those potential risks. In my case, I once worked with a vendor that seemed great on the surface but had some legal disputes under their belt, which I only discovered after researching them more thoroughly. Ever since, I always double-check references and financial history before moving forward. Better safe than sorry! |
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| jinwatkins1 | 28 Oct 2024 - 14:44:36 |
| 4 Posts |
This is an interesting topic. I haven’t had much direct experience with major risk assessments in business, but I can definitely see how important it is to avoid rushing into partnerships or deals. Sometimes the smallest red flag can turn into a huge problem later on. I think it’s always a good idea to trust your gut instinct as well—like in your case, something felt off, and it probably saved you a lot of trouble down the line. Even if you don’t have all the data in front of you, that initial hesitation is worth exploring further! |
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