10 sats \ 0 replies \ @Storyteller 19 Aug 2023 \ on: BOB = Bitcoin-Only Business bitcoin
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.