Raids were lightning fast, hitting soft targets and the occasional harder target. You hit the target hard and fast, taking what you can, killing, enslaving, or simply driving off the locals, and slaughtering any animals for food before slipping away.
Most raids weren't extended affairs. You'd hit one or two, maybe three places and then return home with your riches in store. Sometimes a castle or town would be taken over and used as a base during winter, when the local lords can't muster an army. Sometimes you'd go on extended voyages and hit a lot of locations over the months.
There were two kinds of raids; Local-led and King-led. In the case of the first, it was a smaller scale thing more after orthstirr and valuables than anything else. You marched right up to the door (or gate, or whatever), announce your presence and that you are vikingar here for their loot or their lives, demand that they hand their loot over, and either leave if they gave it up or fight if they didn't. A book I read of this style of raiding described it as 'high-stakes-poker raiding'.
The second was when a Jarl (not just a member of the class, a proper, in-charge Jarl like the Jarl of Jurgdby) organizes a massive group of vikingar to go and raid an entire country. Hundreds of ships with thousands of warriors would take part and they would oftentimes do this with intent to settle afterwards. Not always, but sometimes. These were more the traditional depiction of viking raids (insofar as the massive amounts of vikings at war and so on, so forth)
Raids would target places that held valuables, the more defenseless the better. Vikingar are after your loot, not your lives (though, you might also qualify as 'loot') so if you ran and didn't grab anything of value, they wouldn't care. Heck, it'd make things easier on them too, as they didn't have to burn down your house to get rid of any lingering spirits
The felag was, in literal terms, a business arrangement. But then again most things in Norse society were. Members of a felag were called felagi and they had a set of rules they followed, sworn by oath.
They didn't cheat or kill other felagi. They settled things fairly and without violence.
They shared loot equally and fairly, as well as proceeds from selling thralls and the like.
They fought together and, if one of them fell in battle, they would bear their body back to the homeland.
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I've had this done for a while now, but I just kind of forgot lmao