Many startups at one point or another get into situations where they need to stretch vendor payments a bit to handle cash flow issues. We're in one of those situations right now and I'm trying to figure out the best way to deal with the situation. Obviously every vendor is different and some have yet to complain about outstanding money that we owe them while at least one is threatening legal action and sending our outstanding amount to collections.
Has anyone here dealt with this and were there any lessons learned? I don't like not paying people on time (out of principle) but on the other hand, we're in a position where if we don't there's some concern whether we'll be able to stay in business or not.