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 busine...
I sell physical product for Bitcoin, specifically handmade blankets and hats. I only get paid in Bitcoin. I do not do sales in any other currency.
I work at a small scale so I don't have the leverage with my vendors to ask them to accept Bitcoin. I pay for my supplies and shipping in USD. When I need USD to buy supplies, I convert using Strike.
At a larger scale, you can consider approaching your vendors with paying invoices in Bitcoin. You can also pay your employees in Bitcoin, either wholly or partially. I know a restaurateur who does this and they say employee loyalty and morale increased.
I work at a small scale so I don't have the leverage with my vendors to ask them to accept Bitcoin. I pay for my supplies and shipping in USD. When I need USD to buy supplies, I convert using Strike.
At a larger scale, you can consider approaching your vendors with paying invoices in Bitcoin. You can also pay your employees in Bitcoin, either wholly or partially. I know a restaurateur who does this and they say employee loyalty and morale increased.