General Simulation Hints

30.04.2011

If you want to know the best way to succeed in any of our business simulations, whether you’re running Executive, Retailer or Entrepreneur, our team at April Training have put together a short list of the most important things to remember in business. If you apply these skills and techniques to our simulations, you should be well on the way to success!

1. One of the key things to remember when running a business is to make a firm strategy that is flexible enough to account for unpredicted changes. If you have a clear idea of where you would like to be, it’s much easier to get there.

2. Another important thing to think about is time-scales. Within the simulations, just like in the real world of business, there are often time limits. This means you have to think on your feet and make quick but informed decisions. Also make sure to incorporate these limits into your initial plan.

3. Keep on top of the figures. The most imporant aspect of a business is its abillity to generate income, so make sure that you understand the finances and know how you’re going to get the most out of what you start with. Always keep your eyes open for new opportunities!

4. Finally, be aware of the market. If you know there is a gap in a particular sector, there could potentially be money to be made so don’t lose the advantage and let it go to waste. Market sizes are also absolutely key when it comes to profit-making, so market research can prove to be invaluable (both in real business and within simulations).

Good luck!

Tags: academic and corporate business training, how to succeed, simulation training