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 Basic tips for money makeing (not a guide)

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Join date : 2010-04-10
Age : 25
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PostSubject: Basic tips for money makeing (not a guide)   Basic tips for money makeing (not a guide) Icon_minitimeFri Apr 16, 2010 10:21 pm

Be Patient: Wait for the right price when both buying and selling.
Keep Cash on Hand: You never know when a good deal is going to pop up out of the blue.
Poor Investments: A merchant requires money at all times so you shouldn’t invest your money in personal items or long term investments unless you have enough money to continue merchanting.
Start Small but Build Big: Start out with a couple of items that you are familiar with and over time build your contacts and slowly expand into other industries. When it comes to merchanting being a jack of all trades doesn’t help.
Focus: When you focus on one or two industries you can build a lot more contacts in terms of buyers and sellers and you will be able to move your products faster and in higher quantities and you will make more money.
Be Firm on your Prices: You should know the high and low prices of items your trade in; stick to them, if people really want to sell or buy they will buy or sell at your price
Dont always max trade: Alway setting your price to max is no always the best because it can keep your item laying there for a while so above normal price is not bad.
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