Friday, January 29, 2010

Business report changes and accounting.

I've decided that I'm going to clean up my up coming business report format. I've shuffled around all my inventory so that each banker will each be handling a specific section or two of my business. I'll also be leaving all profits they make on them until Tuesday so I'll have a much clearer idea of how much I am making from each of them. Granted I can't give a fully detailed "this profession made X income at Y cost for Z profit" because that would take far more effort than I'm interested in putting out honestly.

However this will give all of you a very good idea of each profession's has how much "potential" profit and can make your decisions about weather or not to enter that market educated ones. Never work harder, work smarter! Anybody can spend 12 hours camping the AH instead of one hour just posting, but not everybody has a solid understanding of a market and the other markets that effect it as well.

Also what I will be doing is making one banker dedicated to purchasing mats and nothing more. This will help you see the general cost to keep a widespread business going for a week of time and obviously show a more clear picture of my weekly profit. One thing to keep in mind is that what I'll be posting is the material price for EVERY profession I use and NOT including whatever I already have a stock of, so take that with a grain of salt.

This is however something I recommend everybody to do so you can understand your markets a bit better as well as see if you're actually making the profit that you think you're making. That's a handy piece of information to have around if you ask me. However, it is a bit time consuming and I likely won't be continuing with it for very long because of the sheer annoyance of buying only on one toon. But it is still a good thing to do now and again just to keep things fresh in your mind until you're 100% confident in how your particular market is running.

This will all be starting a week from this Tuesday, but I wanted to post this today so in the mean time you can do a bit of your own accounting. If you haven't done this sort of thing before, I also recommend that you keep a detailed log of how much actual time you spend both at the computer and while you're AFK posting/crafting. Again, this is to give you a better understanding of where your time is going and where your real money is coming from. Give it a shot, you'll be surprised what you find out.

Thanks for stopping by!

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