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Where to start? The depth of this game is incredible.....
You play someone that has just arrived to a town with little resources and need to build an empire. It's the players preference how exactly they do this. There are professions as wide ranging from gravedigger to international trader to smith to publican to... well you get the idea. Eventually you will have a self sustaining business and once you reach the top of your profession (ability is divided up into 10 levels allowing upgrades of the business as level progresses) you can choose to go into another profession or politics. The political game is one of intrigue and back stabbing - more than once I bribed a senior to give me a position and then called a vote to kick him/her out to get their spot for myself....
Of course whilst all this is happening your character is getting older all the time. Eventually he will inevitably die and if you desire to play on an heir is essential. Right from the outset you can woo a bride of your choice - indeed most players would suggest it is advisable to do so. If you manage to wed someone far above your station in wealth when she/he dies you will inherit that. It may sound slightly callous but rich, old potential spouses are a great way to get some initial wealth and titles under your belt /cough
When you do pass on the mantle to the next generation they arrive with all the ranks of profession of the ancestor intact so eventually it is possible to become the highest level master in all professions... it would take several generations however.
As mentioned before it is possible to get involved in the political arena of the game. Given the cost and time needed to seriously progress in this direction it is advisable to have a network of business/properties generating plenty of action points and money each turn. It is worth pursuing however as high ranks of office give real benefits such as being able to declare laws, act as a judge or even become immune to charges from your enemies....
Even after all this text I have, to be honest, barely scratched the surface of this game. The only minor issue I have encountered is do not choose a historical campaign if you want to be an international trader. A bug exists that does not show the international cities in a historical campaign.... oh and prepare to lose many hours as you just try to accomplish one more thing...