Heya cool question. We run a bitcoin focused dev shop and many of our clients pay in bitcoin.

I'll pass you his info and would love to chat if wanted. Email me at erik@velascommerce.com

I’m thinking of adding Bitcoin and Lightning payments to my business. I help governments and private investors in small islands with macro economic investment analysis and simulations and scenario building.

Most of these islands are tourism based. So hospitality is the main sector.

As my business is online, by adding bitcoin and lightning payments I can broaden my audience and tap into the 540 billion dollars bitcoin ecosystem.

Systems and processes

Wordpress

Non custodial. I got my umbrel raspberry pi 4 (test node).

Learning about self custody is important.

I got lnbits on it running. And plan to learn more about it.

Will try to automate everything with programming.

Will add language models like chat gpt that use wallets to do stuff. This helps you with creative posts on Linkedin, Facebook, Youtube. Content creation for your sales messaging and sales channels. I have seen this helps you increase your productivity enormously. Things that took weeks now takes minutes. But this is not for everyone. You need to be able to use these tools. Or you can hire professionals remotely to help you with this.

I believe that AI plus bitcoin plus python programming can help businesses grow fast. It is the new world. We got a lot of unstructured data out there that can be used about clients, products, services, sentiments.

Also VR when it is linked to it. You will be able to pay bitcoin and sats in VR.

I still use fiat. Because if people want to pay me in dirty fiat I take it and convert it to hard money.

In future if the bitcoin business grows I might say if you pay in fiat it is 20% more so people would pay in bitcoin. But right now the current clients only have fiat. So would shoot myself in the leg if I didn’t accept it.

I would recommend using open source, umbrel, wordpress. I would recommend focus on learning. Setting up test systems on cheap umbrel nodes with raspberry pi and creating a learning environtment for your team and thinking remote. Your team should be able to work remote.

What hospitality business are you in? Is that a hotel, restaurant, car rental, dive shop, real estate?

If you are on an island that would be great. I believe islands have huge opportunities with this bitcoin wave! Because they can now attract a lot of new visitors.

If you want to be edgy...

Set your prices in sats. If someone wants to pay with dirty fiat, tell them "sorry, we don't do cuckbucks" or "fiat poisons everything it touches, if you want to pay with fiat you can do that with a 20% surcharge to offset the negative impact it has on society." Then send that 20% to some foundation, e.g. to support FOSS and decentralized projects.

I can regale you with the tale of one of the very first BOBs, which I attempted to launch right as MtGox fell at the end of 2013.

It was called Coinosphere, and it was the first attempt at a bitcoin merchant Directory. I had a web scraper built and scoured the web that November for literally thousands of businesses that offered to accept BTC for their products & services. Like 2500 or so if I recall correctly.

I planned to monetize it by selling, for bitcoin only, ads and prioritized listings. You could move above your competitors in a category for $20 worth of sats at the time, or banner impressions site wide for much more.

I got it working and filled with all those listings, (Tons of data entry work) then went to a conference and handed out lotsa flyers & lapel pins, made a few contacts, and by Christmas started seeing some traffic.

But at that time absolutely NO ONE wanted to spend a single satoshi, anywhere at all.

I got dozens of new merchants joining the directory every single day for months at that point, but they were basically my only traffic. And as the directory grew, so did the server expenses. :p

I was completely misjudging bitcoiners' ability to part with their sats. I had to shut it all down mid 2014; what huge waste of coin I should have been stacking. Lesson well learned.

You can use coinos.io to accept payment and use bitrefill for cash out to other service and products.

I think you should always take money, no matter what. Yes prioritize BTC but if they don't know how, just take fiat and buy bitcoin yourself... Also depends on situation, if that's retail location, have BTC ATM handy so there is no excuse or sell BTC pre-paid cards, etc. By doing BTC only you severely limit yourself and miss the opportunity to educate the masses. Just my 2 cents.

Hydranode.net Its custodial but ofc you withdraw sats to your own wallets asap. We have many businesses accepting, each operates a bit differently. If its real world business, employees need to be minimally trained. Just open terminal on phone or tablet, fill amount and thats it. Can be added as excommerce plugin for Woocommerce.

Clients who want fiat can go walk. Bitcoin only :)

We allow export of csv with all transactions and their exact fiat values so business can use that for taxes as if it was cash. They bare exchange risk as they wish.

Sure, I have a bitcoin only business, it's https://21baller.com

I purchased 25 sets of these items as a one time thing and have sold three so far. The supplier would charge me more if I wanted more since they didn't realize how cumbersome it would be to do. A mistake has been found with the balls, and the website has not been updated (I should do that soon, good reminder) -- given the size of the mistake, it wouldn't actually be a security risk, but risks where the magnitude of the risk you are taking are not determined are the worst to take.

The profit margin would have been around 65% (though I'd call it breaking even considering my time for 25 sets), and since they aren't all that popular (though BTCsessions might do a video with them), I will likely just be taking the loss.

I used https://carrd.co to build the website (nice no-code website builder) and BTCPayServer.

I prefer accepting fiat as well and simply converting profits into bitcoin since most of the potential customers in the world pay with fiat. I charge my fiat customers extra without telling them, by having an undisclosed discount applied for bitcoin that you only get to see upon checkout: https://getchroma.co

I made my Chroma shop bitcoin only for a couple weeks -- lead to some people learning to use bitcoin for the first time because we have some pretty unique products with limited alternatives, but there was a substantial drop in sales so I had to revert it.

If you can narrow down what type of business in the hospitality like restaurants, villa renting, etc you are in and your team size and their knowledge of bitcoin (do they already own bitcoin, are they orange pilled) we could help you better.

Because the more concrete it becomes the better you can advise.

In general I would say: who are your customers? And what percentage of your customers owns bitcoin?

Can you focus completely on only customers that have bitcoin? Are there that many customers for your specific service that own bitcoin so you can make your annual and quarterly revenue targets?

If these are all yes yes. Then you move down to implementation.

Eg if I’m a hosting service for small businesses and I need 1 million USD in revenues per year to make a profit and my services are 1000 dollars per year. I need 1000 clients. Who want to pay 1000 dollars.

Can I find these globally? Are there now 1000 businesses that want to hand me their sats for my super cool hosting services?

Only when I got a sound YES I would focus on bitcoin only.

So now I would dive into this specific niche and make my offer super attractive for these 1000 businesses.

Maybe by doing this I can now offer a super service bitcoin only for these people. And now I need to get a team of remote database experts that want to be paid bitcoin only.

So you see, I would first check if there is a bitcoin only business case for my niche.

It needs to make sense to go bitcoin only.

Do your customers value their privacy? Don’t they want to give you their addresses, their emails?

If so, then they probably would love to also be anonymous with their money.

On accounting: it depends on how your country treats bitcoin. You need to convert bitcoin into fiat to pay taxes. So you need someone who knows to deal with the volatility of bitcoin. When taxes are due, monthly, annually, you won’t be happy if your bitcoin dropped with 5% -9% like last week.

I had used BOB previously for Bitcoin-Only-Band