Capitalism Lab S03E05: Revenue and Profit Targets Achieved

Revenue and Profit Targets Achieved

A lot of things have happened so far. With the massive expansion and better supply chain management, my Jewellery empire has grown. I thought I needed to get another business going to reach the goals but it seems like there is no need. Revenue and Profit Targets Achieved ✅

Lessons learned when trying to achieve my Revenue and Profit Targets:

1. Combine many sources

When producing for many cities of which some are large, you will need many mines to cope with the demand. I began to use 2 mines per factory and eventually began to average out between a high and low-quality mine. This allowed for the pressure on the mines to decrease and thus more production happened.

2. Occupy mines as they pop up

When your bread is earned from mines, make sure to occupy them and when you begin to sell make sure to put the internal sales on. The main reason for that is that, in my case, I have 2 other competitors in the business. I want to ensure that my Gold only goes to my own factories as I don’t want to fund my competitors.

3. Make a quick buck with internal sales

When you forget to put on internal sales, you will notice a competitor that comes in and starts buying. They will buy for around a month from your firm before they re-evaluate whether they continue with you or go elsewhere. You can hike the price to the max and make a good profit for that month. You can try to do this every month if your timing goes well by decreasing and increasing prices as you go.