Holly Lane Chocolate -- 1y We posted a similar question yesterday! Nice to know we aren’t the only ones trying to figure this out with physical products. We get cocoa beans from small, rural producers in various countries, but none of them accept bitcoin (yet)… and great cocoa suppliers with ethical standards, organic certification, and high quality beans are hard to find as it is. Plus other obligations aren’t going to be payable via bitcoin overnight. We’re taking baby steps… likely going to start accepting bitcoin shortly, but will need to convert to usd regularly until we have more profit and/or convert our vendors over time 🤞 replyWe posted a similar question yesterday! Nice to know we aren’t the only ones trying to figure this out with physical products. We get cocoa beans from small, rural producers in various countries, but none of them accept bitcoin (yet)… and great cocoa suppliers with ethical standards, organic certification, and high quality beans are hard to find as it is. Plus other obligations aren’t going to be payable via bitcoin overnight. We’re taking baby steps… likely going to start accepting bitcoin shortly, but will need to convert to usd regularly until we have more profit and/or convert our vendors over time 🤞
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Question for any business owners out there making a physical product - do you guys have to pay suppliers withcash? None of ours take bitcoin. And if so, how do you balance wanting to grow your business (which requiresmaking more product and thus needing cash) with holding bitcoin? This is something I’m still wrestling with. I’dlove to keep and hold what little bitcoin I have… but I have to make more shirts to keep growing the business.Down the road, when my business is bigger, and we’re able to distribute profit and/or have cash we don’t needfor growth (hopefully 😂) I could see that being much easier. But at my stage now, we’re still trying to grow.Not for some vanity reason but to survive. Curious if anyone out there has some thoughts or strategies aroundthis?
We posted a similar question yesterday! Nice to know we aren’t the only ones trying to figure this out withphysical products. We get cocoa beans from small, rural producers in various countries, but none of them acceptbitcoin (yet)… and great cocoa suppliers with ethical standards, organic certification, and high quality beansare hard to find as it is. Plus other obligations aren’t going to be payable via bitcoin overnight. We’re takingbaby steps… likely going to start accepting bitcoin shortly, but will need to convert to usd regularly until wehave more profit and/or convert our vendors over time 🤞
Question for any business owners out there making a physical product - do you guys have to pay suppliers with cash? None of ours take bitcoin. And if so, how do you balance wanting to grow your business (which requires making more product and thus needing cash) with holding bitcoin? This is something I’m still wrestling with. I’d love to keep and hold what little bitcoin I have… but I have to make more shirts to keep growing the business. Down the road, when my business is bigger, and we’re able to distribute profit and/or have cash we don’t need for growth (hopefully 😂) I could see that being much easier. But at my stage now, we’re still trying to grow. Not for some vanity reason but to survive. Curious if anyone out there has some thoughts or strategies around this?
