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Open up your almanac and see where your expenses are going and how you're making money.
Make sure you have enough teamsters. I usually do 1 office per 100 people. Pay attention and make sure you have housing near the workplaces. When the people aren't physically at the building, they're not producing.
I typically use 2 raw resource input per factory. So 2 sugar farms per distillery. This is before upgrades.
When you start getting into modern times, understand you can import raw materials and then sell the finished goods to save real estate. Often it's so cheap to import raw materials it doesn't make sense to make it yourself.
went into the modern era and my saving of 1,5 million was gone in about 3 months throwing me into bankruptcy.
i didn't even have time to build anything the game just shot the salaries from roughly 100k to 350k and i had no chance in countering it.
I prefer textile mill, cigar, cannery, creamery and shipyard. You need several different items to export because sometime cloth, cigar and rum contracts dry up (every game is different of course).
I don't like weapons, cars and steel because they always run out of one resource and then they don't produce anything for a long time. Coal is also used in both steel and in the powerplants.
If you use mono culture all your plantations are gonna run into soil degradation.
I used to dislike tanneries but now I like them; I always have 5-10 cattle ranches anyway to keep my multiculture plantations running.
Make sure that happiness is high or the Tropicans will move slower.
Build a couple of banks they generate interest.
Ministry - hire minister that provide higher export prices or increase productivity to all buildings on max budget.
Use the broker to get better trade deals.
Build customs office (not sure how great that tip is).
Issue edicts to boost production.
Don't focus too much on housing because anything above default budget comes out of your pocket, things that produce profit or happiness should be on max budget tho.
Ranches should be on 'pasture prohibition', no need to upgrade with 'manure fertilization' if they aren't a part of a multi culture plantation.
Don't be afraid to import sugar/tobacco etc in order to keep your industry running, often I don't bother with logging camps because they take up a lot of space so I just import planks in stead.
I'm playing modern times for the first time right now so I can't help you there :)