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Sunday, 5 February 2012

All counter strategies lower profits for a while

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It is important that one is reconciled to this fact.

If a competitor undertakes a course of action to increase their share of the market then, whether or not you undertake a counter strategy, you will be getting less profits from this market during this time.  If you undertake a counter strategy, which i strongly advise you do, then the profits coming to you will further fall during this time.

Therefore, when i am participating in a market i do so in the knowledge that at various points in time the profits will fall away and my time devoted to that market will rise to counter competitor actions.

I also operate in the knowledge that during calmer periods, time spent researching my competitors will pay off down the road.  They will be researching you.

As will time sent ensuring all end markets in a profession are researched and, if appropriate, entered.  For Inscription that means entering the off hand, certificate and scrolls markets for me.

As will time spent developing a new market.  For me, that is enchanting.

Time spent exploring all options will enhance the avenues for profits and narrow the avenues to make losses.

1 comment:

  1. That is exactly what I did in Inscription, I sell all the possible Items you can with Inscript, Glyphs, Books, Inks, pigments , raw materials, you name it.
    Why will you spend a toon of time and money to max a profession and in the end only use a Small part of it.


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