Ask HN: Advise to be an approved vendor for my B2B startup

[ruchirp]

Hi there,

I have opportunity to apply to be approved vendor for a pretty large company. I'm working on my B2b startup and this will be my first client.

Does anyone have past experience, advice about how to approach this? If anyone has experience, advice; will be much appreciated.

[sirspacey]

Research their procurement process, start right away. It can take many months to clear procurement.

Generally you’ll need insurance. Use a startup insurance provider (not general business insurance). It’s way cheaper & faster to get.

The good news about being a registered vendor is that it makes it easier to sell to them in the future, whatever happens on this deal.

[ruchirp → sirspacey]

So this is a B2B Software startup. what do I need insurance for / against?

[sirspacey → ruchirp]

Generally:

Errors & Omissions (E&O) for general coverage (usually required by procurement at a specific level like $1m, be sure to ask)

Data for breaches, etc. if you are working with sensitive/customer data and could be sued in the event of a breach

[DamonHD]

How certain is this 'opportunity'? Getting on an approved supplier list of any value is usually a huge pain, and no guarantee of sales...

[ruchirp → DamonHD]

only time will tell. but how do I prepare for this?