A brief quote from a former CEO's book, 'The New Partnership,' that expains how they selected customers.
Tom Melohn, former CEO of North American Tool & Die (NATD), talks about the payoff of being selective in his new book, The New Partnership: Profit by Bringing Out the Best in Your People, Customers, and Yourself (Oliver Wight Publications, 1994):
"When I arrived at NATD, the customer list was haphazard. Whoever came through the front door was a prospect. . . . We soon developed three simple criteria for future NATD customers. First, they had to be growing faster than their total market. Second, they had to be decent people to work with. Finally, they had to pay their bills promptly."