3. Business Management part one of two
Day 567, 14:06
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Published in Australia 
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by
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by The Old Oak
3. Business Management part one of two
i- which industry
ii- accounting
ii- communications
i- which industry
This paragraph is meant to help you choose the industry to start your company in. Manufacturing usually is the best market to start out in, although it can be especially saturated. Try and review the marketplace to see how much products sell for, and the job market to see what kind of salaries are being paid out for the skill.
Raw materials usually need a larger starting starting capital, as it isn't really profitable until the company is at least q2, or a starting capital of 40 gold. Also make sure the particular material you want to sell will be bought up by manufacturing companies. I cannot stress this enough : MAKE SURE YOU CHECK THE REGION RESOURCES BEFORE BUYING/SETTING UP A RAW MATERIAL COMPANY!
Construction is a traditionally tough market as it takes a long time to manufacture the product.
In any case, you really need to have a week's worth of salaries and raw material aside to start out.
ii- accounting
Accounting is essential to make sure you're not loosing money. The best way to see your profits or losses is by going to the Gecko Ltd eRepublik tools company productivity page. You will need the ID of your company, which is the number that appears at the end of your company page web address (the url). You can then play around with salaries, selling prices and so on to see the profits you could make.
If you haven't got a company yet, just use ay company and change the details to fit your simulation.
iii- communications
Good communication with your employees can make the difference between going bankrupt and pulling through in hard times. By publishing company news, reward best employees, helping out employees with low wellness (gifting scheme, education), you might entice them to stick with you, and lower their salaries in hard times, so it might be more than worth it. It is therefore always a good idea to have a newspaper to print regular bills of financial health and reward employees or just to let them know what's happening next.
http://tinyurl.com/qa35ez>Table of Contents
http://tinyurl.com/m4ju6b>Back to chapter five
i- which industry
ii- accounting
ii- communications
i- which industry
This paragraph is meant to help you choose the industry to start your company in. Manufacturing usually is the best market to start out in, although it can be especially saturated. Try and review the marketplace to see how much products sell for, and the job market to see what kind of salaries are being paid out for the skill.
Raw materials usually need a larger starting starting capital, as it isn't really profitable until the company is at least q2, or a starting capital of 40 gold. Also make sure the particular material you want to sell will be bought up by manufacturing companies. I cannot stress this enough : MAKE SURE YOU CHECK THE REGION RESOURCES BEFORE BUYING/SETTING UP A RAW MATERIAL COMPANY!
Construction is a traditionally tough market as it takes a long time to manufacture the product.
In any case, you really need to have a week's worth of salaries and raw material aside to start out.
ii- accounting
Accounting is essential to make sure you're not loosing money. The best way to see your profits or losses is by going to the Gecko Ltd eRepublik tools company productivity page. You will need the ID of your company, which is the number that appears at the end of your company page web address (the url). You can then play around with salaries, selling prices and so on to see the profits you could make.
If you haven't got a company yet, just use ay company and change the details to fit your simulation.
iii- communications
Good communication with your employees can make the difference between going bankrupt and pulling through in hard times. By publishing company news, reward best employees, helping out employees with low wellness (gifting scheme, education), you might entice them to stick with you, and lower their salaries in hard times, so it might be more than worth it. It is therefore always a good idea to have a newspaper to print regular bills of financial health and reward employees or just to let them know what's happening next.
http://tinyurl.com/qa35ez>Table of Contents
http://tinyurl.com/m4ju6b>Back to chapter five
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