I’m playing Virtonomics, an online business game. Here I’ll report every now and then on my proceedings
In my previous post I explained why I restarted. Read how I build a base for Turkey and stormed a new emerging market with 2000% margins – Norway
After my first company burned in inefficiency hell I decided to take things more slowly. Not hiring hundreds of employees at once and over-investing but building slowly to my clothing and retail kingdom.
I focused for a bit on the Turkey market opening in total 3 stores in the market of clothing and groceries. Slowly growing I bounce around profit and loss every turn, because every increase in purchasing causes a small loss the day next ( buying more than selling ) and after that a higher turnover – and profit.
Slow but steady rise in value
A week lingering around Turkey, the bosses of Virtonomics decide to add a whole new country to the game, creating a new fishing industry. Exciting! I decided to enter the country before it becomes swamped with other competitors and this turns out to be a golden move. The turkey market is alright with profit margins around the 30% but the prices are sharp and besides I have a supply problem since suppliers with good quality and prices keep running out of stock, don’t deliver or cancel the contracts.
Profiteering like a proud Ferengi
On the other hand in Norway a good shirt costs more than gold, because not a lot of competitors entered the market yet. For instance in Ankara I have about 100 other stores selling shirts, which would go for anything between $200 and $400. In Norway I’m one of 3-4 selling the same shirt for more than $2000 with no big difference in the supply prices.
The Norway market is more cut-throat in the sense of quality. While the prices stay high though it’s a sound investment cashing out on more expensive quality stuff.
In other news, the company is expanding to Baltic Lithuania for research options, my current lab is still busy doing secret stuff and I’m slowly expanding factory output. Lot’s of investments to go, but the sky looks bright for future business.
Signed from the boardroom,