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Understand the nation and market you are in.
Being in a custom market with Great Britain vs being an isolationist like Japan vs being in a local area like Mexico are all different situations and markets and possibilities.
Once you understand what you are in and what you are working with. Its supply vs demand. Figure out what your market is lacking and whats expensive and make it. Sometimes, its resources other times its tools and other times its a specific item or two (i.e. clothes or cannons).
When making a manufacturing item do you need to supply your own resources? Sometimes. Sometimes its cheaper to let someone else provide your resources cheaper than if you do it yourself. Its all about time vs manpower vs construction time.
is it better to make 2 tool factories, 4 lumber mills grabbing wood to make a level 3 clothing manufacturing?
It all depends on your market that you are in. If Great Britain's market or the French Market or some other custom market can provide cheap wood - then you can skip the 4 lumber mills and save time manufacturing them and the man power manning them... and worse yet - if you did make the lumber mills yourself they may be a DRAIN on your economy and cost you more money than they make if you just import it or being in the right custom trade market.
It's the 1880s in my current campaign and I'm getting 700 construction points a week, with steel method. I still make so much money that I cut taxes to the minimum and I still make around 100k a week, off-and-on, with full construction running.
My campaign last week just started off harder than I remember it being in earlier builds... anyway, lots of good tips here for new players.