Havoc
There is literally zero accounting happening in the article but seems solid anyway on what it does cover.

One thing I’d suggest doing different - instead of trying to inch up credit limits rather have that conversation at same time as the investment. ie we’re looking for a provider to park 15m but we also need a credit line/cards/whatever. The sales team wanting the 15m will push to make the line happen internally. It’s the key moment where you have leverage.

ckdarby
Small note that most credit cards allow you to artificially increase the credit card limit by simply contributing the payment on a zero balance.

Example, $0 balance, card limit $1k, pay onto the card $10k, card limit is now $11k.

$10k of that is really prepaid and $1k is truly credit, but it would have solved their problems given they had the cash on hand and mostly wanted to avoid declines on their cards due to draining the credit limit to $0.

The problem with other forms of payments is they're only usually accepted on a contract annual basis and you're now vendor locked for the remainder of the contract. You're also up fronting the capital to that vendor.

AliCollins
And the link to the Part II, Strategic Finance: https://rein.pk/startup-finance-for-founders-part-ii-strateg...
codetrotter
> there are limitations to debit cards (e.g. you can’t rent cars)

This sounds pretty specific to the USA. Here in Europe you certainly can rent a car with a debit card.

1st
Finance and accounting are my least favorite aspects of being in a startup, yet absolutely crucial. Does anyone have any tips helping my brain learn to enjoy these? Loaded question...
mcc1ane
(2016)
tfhfj
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nazdrc61
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nazdrc61
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