In this episode, I get into the Cars industry. It is a very interesting market as it requires huge investment but it is also very profitable as soon as you begin to build your brand. While working with Cars, a few of the usual mining problems occurred stretching the episode a bit.
Lessons learned with Cars:
1. Don’t underestimate the Industry
I’ve never really done the automobile industry and this felt like the perfect chance to get into it. I had $1bn in credit line available of which I ended up using half of. I think a good rule of thumb is that you need to see the global market size and estimate you need at least double that to invest. At least in this industry.
2. Managing the chain is very interesting
As I am behind in tech, the best way to go about it was to use the many components in the chain to my advantage. You need to see each aspect of the supply chain and where the supply is lacking to create another factory for it.
3. Don’t be shy to combine and create your own things
You may notice I made my own steel, again due to not having the tech to gain an advantage over competitors, by using iron of a competitor and coal of my own.
What do you think? Leave a comment below 🙂