Keep it Simple
While strategizing a business is a complex affair, it helps to keep things simple. The most prominent levelers that drive sales are Price, Quality, and Rebate. Therefore, you need to focus on your P, Q, and R for revenue generation. To win at BSG, you need to offer the best quality products at the lowest prices. Of course, this only works when your competitors aren’t doing the exact same thing! But you should stick with this simple mix and then adjust your strategies accordingly.
Add to the Mix
You can boost your efforts with P, Q, and R by incorporating other aspects in your strategy. These include things like Corporate Social Responsibility (CSR), green energy, diversity and celebrity endorsements. Do note that adding these things to the mix will not increase your metrics or your revenue drastically. However, they do add value to your company in the long run.
Manage Your Costs
This goes without saying. There are several costs to be borne, such as plant setup, building capacity, material and training etc. The only way you can lower your prices is when you first find the cheapest way to make shoes that sell competitively.
Of course, there are several ways to bring down your expenses. One of the most effective ways to achieve this is to have your main production plant in Latin America that supplies to all markets except for AP. You will not only benefit from cheap labor, but also note that when you produce shoes in LA and ship them to NA, you have to pay nothing in tariff.
This, however, is not the only way to bring down costs. You can do things like lowering your advertising spend, or buy celebrities early on in the game to keep your operations and marketing competitive and profitable.
Many BSG players recommend that you participate in private label or internet sellers. Now this may work, but a more sure shot way of winning the game is have the greatest number of distributors selling your shoes. That is why, instead of bypassing your distributors, you should support. This means paying at least $500 in support.
Refinance your Debt
Ask any BSG expert and they will almost always tell you that you should build plant capacity to succeed at the simulation. You shouldn’t wait later in the game to add capacity to your plants, but this is something that should be done as soon as possible.
This will require taking out loans or issuing stock. However, with heavy borrowing, you also need to manage your cash flow so as not to incur penalties. The best way to go about it is to refinance every round.
These tips will help you get ahead in the simulation game. You can browse this website for more articles on BSG online help.