I work as an Ecommerce Manager for a mid-size woodworking distributor that got acquired last year by a massive multi-national private corporation (the parent company is a large global industrial distributor across multiple verticals).
I want to accomplish four things..
- launch a new ecommerce brand/property strictly focused on Bitcoin and woodworking
- hold Bitcoin as a treasury asset
- accept Bitcoin as payment across multiple website properties
- illustrate success in woodworking vertical and expand into the other verticals of the parent company
How do I convince mgmt that this is a good idea and get buy-in from the c-suite? And what Bitcoin companies/products in the ecosystem should I incorporate into this plan for execution?
Does anyone have experience with this style of orange pilling / orange implementing? 🍊
TY!
The single most effective thing you can do is provide evidence (the harder the evidence the better) it'll make them more money than it will cost them.
Quite a few bitcoin payment companies offer plugins to major ecommerce sites. If you are comfortable self-hosting the payment stuff, BTC Pay Server seems to be the standard.
+1 on bringing evidence of profitability (or at least a well-researched hypothesis showing others are seeing success) to management
Any links to particular research studies that could be relevant to a private corp? For example, should I be looking at Microstrategy quarterly reports or something like that?
My 2 sats..
Point number 2 is a risk that can cost your neck and the CFO neck.
If you where a tech company the picture changes a little, but i imagine you dont operate under huge gross margins.. Having a normal ebitda you can wipe years of work with a good drop.. Remember it went from 60 to 14K?
The last year was pretty good.. No matter when you buy, next month you make a profit.. But, its not safe to say we wont have more huge drops again.
Im not sure about point number 1 either.. "Why bitcoin only? Doesnt this narrow a lot your custumer base?
Other than that, you just have to convince the CFO.. There are good arguments.
I have no advice, but dropping by to say I love your goals
No experience in this but just popped in to say good luck!