Shipwright Archive

Message Edited by NasherUK on 11-11-2004 08:23 AM

---

Kinshi wrote:
News flash

in r/l 90% of ALL small businesses fail within the first year.

of the 10% that remain only 1% of them grow to become big companies

Why is that?

1. Not having enough capital (aka not enough dough to launch the business and keep it going thru hard times)
2. Not knowing just what it is you are trying to do. You cannot cover all aspects of the market, you can narrow your focus and do that thing well or you can do it all poorly.
3. Not thinking ahead. Gotta plan for the long haul, you need to know what resources/equipment you will need to buy in the future if you encounter growth.

And you gotta be a decent salesman, telling people to piss off if they dont like your prices will just leave you with a full stockroom and an empty credit chip.

My shipwright business is small right now. I dont even run a vendor, I just use the bazaar for now. I own 3 heavy mineral harvesters and have built 3 personal chemical extractors, and a personal wind generator, and I share a factory with another artisan. I keep close track on what it costs me to extract resources so I know what I need to sell my wares for.

I spend extra time on surveying to find the highest concentration highest quality resources I can and pool my harvesters there rather than spead them all over

For the most part I have to buy my power and chemicals from another source until I can save enough for my own deep crust extractors (they are more efficient to operate than the personal extractors but cost a helluva lot more)

You gotta be efficient, and have business smarts, and know your limitations to be one of the 10% who make it.

---