I posted my final decisions last night with a sense of relief and anticipation.
The manuals tell you to decide on a strategy and stick to it and helpfully offer six to choose from. Presumably you could devise one of your own if you had the time and the inclination. I chose the one which suits my temperament best and was fascinated to find that most of the others rubbed me up the wrong way one way or another. Left to myself I wouldn’t have thought of them or else would have dismissed them out of hand. I have decided to sell the customers what they want and to hang on to ageing product lines so that they drift into the low tech end of the market. Other strategies focus on price, or on keeping internal costs low, or on servicing one specific market sector. You have no idea how glad I am that they provided pro-forma strategies to work from!
I don’t appear to have done badly but I am playing one hand in a six hand game but “the others” are just dummy hands being played by the computer. I’ve no idea how well I’ve done in comparison with the other 3879 actual players, or even how many of the other 3879 started. The Times today is noticeably silent on that.
So my products have sold well – more than anyone else’s. In fact I could have sold more if I’d made them which is not so good. Not only is it an opportunity wasted that won’t come again, I could have spent less on advertising and marketing to make the same number of sales and more profit. I’m also cash-rich at the moment which sounds nice but I’ve borrowed more than it turns out that I need, so I’m paying interest unnecessarily. All in all, I’ve wasted money, and it doesn’t feel so good when I put it like that. I was afraid of the sales not coming in, so I borrowed money and limited my manufacturing runs based on pessimistic forecasts. If I’d not borrowed money and I’d over stocked the product and the sales hadn’t come through, I’d have been deep in the doodoo.
Interestingly, though I sold the most, I’m not the most profitable. “Digby” made more money and spent less cash doing it. Not surprisingly, “Digby’s” share price is better than mine, though I am a strong second in the field of six; I issued shares to raise money and he didn’t, and I’ve got the highest total value in the stock market (market cap).
But those lost sales and that over-borrowing is annoying me. I was too cautious this round. Let’s hope I don’t let it go to my head.
(PS – sorry for the ruthless self-promotion with the Digg doo-dad, but I am trying it out to see how it works. Nothing attempted, nothing learned).