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Welcome to the GoVenture Food Truck tutorial video GoVenture Food Truck is a fun educational simulation that introduces you to the experience of running your own business and optionally practice accounting. It's the perfect first step to learn the basics of business and entrepreneurship!
Let's watch how it's played! Click the play button and then we'll read a little bit about what the game is about and then we'll continue and a special note is that anything that is in the simulation that is colored orange is clickable. For example if you have a number selector
like this one here you can click the plus and minus buttons to adjust the number or you can click and drag the slider. If you have a drop down or there's a selection of items to choose from you can click on the down arrow or any part of the drop down and then click the item that you want to choose. And then we have text boxes where you can type click inside the text box and then type any text that you want and you can use the handle to drag up and down or click the up and down arrows and of course buttons are orange as well as you
see here with the ok button.
So let's go ahead and continue so with GoVenture Food Truck you have the choice of starting a food truck business or a mobile cart business and you can choose to do all the startup
decisions yourself as you see here we have six startup decisions your profile, products, business name, and logo. Seed financing, business plan, and accounting. These are all setup decisions that you can make or you can choose what we call a quick start.
Let's click on that here in the phone. A quick start is a pre-existing business that already has the setup decisions made and what you can do here is you can see the individual quick starts that are available. So we have Quick Start number one which an ice-cream business if you don't like that one you can choose the next one or the one after that. So there's about five or six different QuickStart scenarios included and if you want to choose a quick start just choose the one that you want to start and then enter your name and you can proceed with that quickstart.
But we're going to go back to the startup decision screen and actually make our own startup decisions instead of using a QuickStart. Another important thing to note is if we've already been playing the simulation and we want to resume the simulation that we've been playing. We can use the resume business button. Now the resume business button is usually primarily used if you have the locally installed version of GoVenture Food Truck. In other words if the program is installed on your local hard drive or a school network drive or
organization drive then you would use the resume business to choose your save
file and continue from where you left off. And the last time you saved if you're using the online version of GoVenture Food Truck you normally do not have to choose the resume button because the simulation will automatically save and automatically resume on its own. So as soon as you log in and play it will continue from where you last left off.
And then there's also help button which gives you access to a built in user guide as well and you can adjust the sound level using this button here or quit the simulation completely.
So let's get back to setting up our business so we'll choose our profile and we can enter our name. Let's go ahead and enter my name Mathew so that's my name and that's important because if my instructor is assessing my performance having my name attached will make it possible for them to know who I am. We can add a photo here so we have a photo of ourselves we can click the
choose button and then it'll bring up a window where we can find the file in our computer and then choose that file and it will appear here. The third option we have here is to do our personal objectives so if you're starting a business there may be some personal reasons why you want to start a business and you can use this as a nice guide to document what those reasons are.
So my personal profile is and then you can type whatever you want to type in
here and you can enter your financial goal you know what kind of stress levels. Are you gonna work really hard or you can try to take it easy how much time just expect to spend on your business. So again it's just outlining what are your personal goals what are you trying to
achieve personally from starting your own business. And this is again is optional it doesn't really affect the simulation but this is something that an instructor might want students to complete.
So we'll click OK here then we have to choose our products so there are six types of products that we can sell so we can have a food truck and you actually you can see them here in
this drop-down or I can use this these buttons to cycle through them. So let's
use this so our first option is an ice-cream food truck and you can see
there's an icon of a food truck and then the products photo. Here we can do popcorn and snacks hotdogs and those first three were all food trucks now you'll see in this case we have clothing. Clothing is a mobile cart so instead of a full food truck it's a mobile cart and so we have clothing we have jewelry and we have small electronics.
Now just a note it doesn't really matter which type of product you choose and whether it has a food truck or a mobile cart the simulation will play the same there are some differences of course for example with a small electronics the price of the products tend to be a little bit higher and you may not sell as much as compared to maybe ice cream or hot dogs, where you know ice cream or hot dog may be a few dollars and you expect to sell a lot of them whereas some small electronics would be quite a bit more expensive than that and you just wouldn't sell as much so it's higher price lower volume with some products and others are lower price higher volume but in terms of whether it's a food truck or a mobile cart it doesn't make a lot of difference.
Let's go ahead and choose popcorn and snacks and so the next we have our business name and logo so here we can enter the name of a business so it's the let's consider some type of name that fits what with what we're selling so we'll go poppy poppy corn. That's what we're gonna name our business and then we can choose a logo so there's a number of logos to choose from and I can cycle through them by clicking the buttons here or I can add my own so if I've designed my own logo. Again I can bring up a window choose the graphic file which could be a jpg, a PNG, a gif file, and then add that to their game.
Then we have our advisor so our advisor It will appear in our smartphone here that you see here are virtual smart phone and we can call our advisor for advice along the way and we can choose different advisors. They're generally going to give you the same advice but you can just choose someone that you're most comfortable with click ok. So we're halfway there now the next we have to do our seed financing. So seed financing is the money that you need to start your business and the money that you need to operate your business that's all together it's called your seed financing. And on the left hand side here we can see that we have a thousand dollars in personal savings that we're going to use but we need nine thousand dollars in addition to the one thousand in order to start and operate our business and so the total seed financing that we need is ten thousand dollars. Now this this this and this number comes from our startup costs and our working capital so if we look at a start-up cost it shows us how much our truck or cart is going to cost and equipment permits assign insurance so the total startup costs are five thousand nine hundred and fifty dollars in this case working capital is the amount of money and run of cash that we want to have after we've paid for our startup cost. It's an amount of cash that we want to have available to us so that we can use it to buy inventory or hire and pay our employees do some marketing and advertising and so on so we need we need more money than just the initial startup cost we need that working capital as well so the total is ten thousand dollars now.
Take note that the truck or cart only costs $3,000 and of course in the real world a truck it's going to cost a lot more than $3,000 a cart you could get away with 3000 but a cart/truck is going to cost a lot more and this is purposely kept low in order to make the game a little bit faster a little bit more engaging because if the numbers were too high might take too long to become profitable and in make the experience interesting for participants. So the numbers kept pretty low and again it doesn't matter whether you choose a truck or cart your startup costs are going to be the same so the decision we need to make here is how we're going to get this seed financing and we have two choices. We have debt or equity so debt is basically borrowing the money from a bank or an investor or friends and family so that is debt and we would repay that debt with 10% interest. The other option is equity. Equity is when you sell a percentage of ownership in your business and in the case of this example here $9,000 equity we would sell 20% of our business and once some of the owns a part of your business you're obligated to share a percentage of those profits of you know that come from your business so you don't really pay it back monthly like you would a regular loan instead you pay it through the sharing of profits. Now there's some other complexities there but in this simulation it's it's kept pretty basic in terms of profits so I'm gonna choose debt financing and again if I'm not
sure of any of these decisions there's always the Help button that's available here on the smartphone that can give us some more information about the decisions we have to make.
So let's click OK next is our business plan so we have a simple one-page business plan here so this is a basic structure of a business plan the executive summary which summarizes the entire business plan. We have the opportunity that we're pursuing the market the products and services that we're gonna sell a bit about our company a nurse and ourselves as the
entrepreneurs and the financial projections of what kind of money do we expect the business could cost how much, money to expect the business to make and so on. So this allows us to type a one-page a very simple business plan so basically we just click on here and we would type you know there is a good opportunity to sell popcorn and snacks in my city and then I can complete the rest of the business plan. Again this is optional but this may be required by an instructor for you to complete this and again if you need help with the business plan click on the Help button and you can find out more and you can also prin if you just want to print the business plan itself. And we go the print option is also available in the personal profile as well. So now our final decision is accounting so your food truck has a really unique feature that allows for manual accounting. So we have automatic accounting or manual accounting so the first time you play the program you're probably going to want to use automatic accounting.
So that basically means all the accounting financial transactions are handled automatically by the simulation makes the game a little bit more fun makes it go faster as well if you're learning accounting specifically. Things like debits and credits you will want to set it a manual accounting and with manual accounting what happens is every time you incur a financial transaction an accounting window will bring one up here for you. See an accounting window will pop up and you are required to make
your double entry accounting so for example you would choose the account to debit and the account to credit and sometimes it could be more than than two accounts.
Now if you haven't studied accounting this may not make a lot of sense but if you're studying accounting you'll understand how to make these transactions when you buy inventory when you hire employees when you purchase marketing services and advertising services again you'll be posed with this accounting window and you have to post the transaction immediately. You will not be able to continue the simulation until you post the correct transaction. Now if you're stuck on what to do you'll see that there are hit buttons and a show answer button so a hint button will just give you a hint it won't actually give full answer and then a show answer will actually give you the answer.
Now what's important to know it is every time you use the hint or the show answer buttons
it will be recorded in your performance report so if you are being graded on your work with the simulation you'll probably want to minimize use of the hint and show answer buttons. You don't want to use them very much if at all because it could affect your grade but the reason they're there is because you cannot continue the simulation unless you make the correct entries and so you know we want to make sure that you can continue to play the simulation if you're stuck on any particular post.
Now again this is completely optional it only happens if you set the simulation to manual accounting so most cases again if you're just playing this for basic business information based business experience as opposed to accounting you'll choose the automatic accounting option the other option is the financials so financials would refer to the in this case the balance sheet and the income statement approach sometimes called the profit and loss statement so in go venture food-truck you can hide these financials so with automatic accounting and also manual accounting the simulation is automatically building a number of financial reports including balance sheets income statements cash flow it's automatically being done by the simulation and you can view those reports however if you're using the simulation to learn accounting your instructor may require you to build your own financial statements such as balance sheet and income statement or profit and loss statement and in that case the instructor may may guide you to hide the financials so that you can actually build them yourself using a spreadsheet or some other method that your instructor may choose.
and so that's the option of hiding financials so again normally you're going to have the financials on with show and the accounting on automatic so let's click OK alright so now we've we've got our startup ready to go and you'll see now that have made all six decisions a new button has appeared here that says launch startup. so let's click on launch startup. there we go so our startup is now launched and you'll see here that there's a tutorial. And the tutorial we can click the next button to continue through the tutorial and it'll show us the various screens but and I'd recommend that you do that but in this case I'm here to show you this so I'm just gonna quit out of the tour for the moment.
So now what we're looking at is the main interface of the simulation so we still have our virtual smart phone here but along the bottom is how we navigate this simulation so you'll see there's there's buttons for market scheduled products employees advertising reports and open for business and then settings to do list performance and help so let's review all these buttons. so the to-do list is a helpful action list that you can review that explains to you what you should be doing every day of the simulation and it explains all the key decisions that you're seeing at the bottom here because each one of these buttons allows us to make a decision to both the business like our employees or products and the to-do list will explain
those decisions in some detail.
let's go ahead and we can leave that open as we play the simulation but let's hide it for now. again the Help button that brings up the user guide is available here and then we'll visit these other two buttons a little bit later. So the premise of the simulation is as I'm running a food truck in this case and I'm selling popcorn and snacks and in every day of this of this simulation I have to make the five decisions that are numbered one through five at the bottom of the screen. one two three four five. I actually don't have to make them in that order but it
does help to make them in that particular order once I've made the five decisions for the day. so normally the simulations is starting at the early in the morning on the current day and I would make those five decisions in the morning for that particular day and then I'm going to open for business using this green button here.
Before I do that let's take a look at our smartphone so the simulation runs in days virtual business days so you can see in the case of the simulation right now it says it's Monday again this is a virtual date. Not the real day Monday day 1 year 1 the name of my business is poppy corn. You may remember that we set that at the beginning and it's a food truck selling popcorn and snacks and I have $4,000 in cash.
So remember our seed financing we had money that needed to be used to purchase our truck and our signage and our insurance and so on that's all subtracted from our seed money and this is the working capital that we have available we'll see our sales for today which we haven't started our day yet so there's no sales as of yet. we have our market share so if we were in an area with a competitor then we may end up splitting the customers and we can see how much what share of the market of what share of the customers that I won versus my competitors. I can I'll be able to see customer satisfaction which means how happy customers are with my products and my pricing and my service. Right now this is empty because I have not yet started my business so I haven't had one day in business yet stress stress keeps track of how much time we're working and how much time we're spending on personal life, personal activities so if we're working too much you'll see our stress meter will start to go up.
Now there's no direct consequence of stress it's not going to cause you anything negative in
this simulation directly but you may be assessed on work/life balance and and moderate stress by your instructor so you'll want to make sure to understand
how you're being assessed or graded with
the simulation you may recall and
startup we also had to select our
advisor and we selected this person here
and at any time we can call our advisor
by clicking the call button and she'll
give us advice on the particular screen
that we're on right now so right now
we're on the market screen so if I call
my advisor now she'll give us
information about the market if I was on
the employee screen she would give us
information about hiring employees and
we can switch our advisor just by
clicking the button now here finally we
have these these grayed out icons that
are a little bit hard to see right now
these are achievements that you can earn
so I can click on any one of these and
it'll bring up the chief
window and so I can earn up to five
different achievements based on things
like sales or location or inventory and
so on so just for fun I may want to try
to earn all of these achievements while
I run my business now of course the
ultimate goal of running my business is
to make sales sell products and sell
them at a profit so I can generate as
much profit as possible in my business
that is the ultimate objective now of
course while I'm doing that I'll also
want to keep my customers happy and so
on and and those are kind of secondary
objectives so right now we're on the
market screen and we can choose where we
want to locate our truck for the day so
there's actually five different
locations in the city so you can see the
blue truck is us and these are computer
competitors so they're not human
competitors or computer competitors that
we we we fight for business from them so
we can go to right now we're in the
factory I can move my truck to the
business district now right now the
Green competitor is in the business
district so if I choose to come here I
will actually compete for customers with
the green truck so I might not want to
do that maybe I want to go to the
shopping district instead or the park or
the arena and again arena I can see that
the red truck is there so I'd be
competing with with the red truck or
back to the factory which is where I
started now every time I'm gonna move my
truck for the day there's gonna be a
cost associated with that now just by
moving and in the morning here just by
playing around there's no cost there but
if I decide to move from one location to
a different location that I was at the
previous day then there'll be a charge
associated with that a cost associate
with it now before I make my decision
what I should do is I should look at the
news I should understand the weather and
if there is anything interesting
happening in the city today so I'm gonna
click on View which will give me a
little bit more detail than what I see
here with this news newspaper so first
let's look at the weather so I can see
the weather is going to be cold and
cloudy today that's the forecast
keep in mind the weather forecast isn't
always accurate we never we never know
for sure if the you know what the
weather is going to be but the forecast
is usually accurate but not always and
the next day it's going to be cold and
snowy so since it's going to be cold and
cloudy that's probably not a great day
for the park so I'm not gonna go I'm not
gonna go to the park now I can see
there's a headline here there is a new
business tenant in the business district
and they're gonna have a ribbon-cutting
so that it might actually attract some
extra traffic to the city of the
business district so that's kind of
interesting for me to consider I can
also review the traffic patterns of the
different areas so for example in a
factory district most of the traffic is
between 8 a.m. to 6 p.m. because that's
what people are showing up and doing
their work in the factory district and
then they're going home and there's peak
traffic times for example in the morning
where people are arriving in the
afternoon or maybe they have a break for
lunch and then at the end of the day
when they're heading home so you'll see
the traffic patterns are very different
the arena for example is where there
might be a sporting event or some other
type of entertainment event at the arena
and usually those events last for a few
hours so there's often a very heavy dose
of traffic before and after and
sometimes during those events so you
might get a lot more traffic in a
shorter period of time than you might in
other parts of the city and then I can
read more about each of the locations by
clicking the buttons down here so oh and
by the way I can also review my
competitor information and see what
their average price are of their
products so if I start seeing that you
know my my customers may be commenting
about our price being too high or too
low I can see how I compare with my
competitors but keep in mind there's
also quality and appearance so your
customers aren't just commenting on the
price of the product they're also
commenting on the quality of the product
and the appearance of your food truck or
your mobile card all right so let's go
back so let's I'm going to choose to
stay in the factory district today
because I don't want to go head-to-head
with the other competitors at the moment
by the way the competitors come
can move as well so we may think they're
gonna stay where they are and usually
they do but sometimes they will move by
surprise then I'm going to set my work
schedule so remember in the news we were
reading that the primary traffic times
for the factory are a a.m. to 5:00 p.m.
so that's what I'm gonna work in fact
I'm gonna stay an extra hour that's 10
hour day so it's a pretty long day but
that's not unusual for an entrepreneur
if so I can add hours by clicking the
button to add hours to my day or I can
move the hours over so using these
buttons here you can kind of control
exactly the times that you want to work
you can also choose to take the day off
so if you find that your stress levels
going up what you want to do is reduce
your hours so instead of working eight
or ten hours you might want to work
three four or five for the day or you
could take the entire day off now of
course when you take the day off you're
not working so you're not making any
money so that's something you have to
consider because you will not be able to
earn as much profit if you're not
spending time working so you have to
figure out what that proper balance is
now here we are on the product screen
this is where we price our products
and/or our inventory so on the left hand
side here in this box is our three
products that we're selling so we have
popcorn nuts and beverages and these are
the prices that I've set for my products
and I can adjust the prices by clicking
the plus button to increase them or the
minus button to decrease the prices for
and again this is at the beginning of
the day this is the morning of the
current day so these are the prices that
will apply once we open for business
today and I'll be able to change them
every every day that I want and over
here is our inventory box now here we
can see that we have no inventory so we
have no beverages no oil for making the
popcorn no popcorn itself no no popcorn
boxes and the popping corn and so with
no inventory I can't actually sell
anything so I want to make sure I buy
inventory so let's go ahead and purchase
some inventory so I can choose different
quantities to purchase and the higher
the quantity I purchase the
less expensive the per item of that item
is so it makes sense to order more but
at the same time it ties up my money
because I remember I only have a certain
amount of cash available to me and if I
have items for too long sometimes items
will expire and so I can kind of roll
over the little help button here let
explain the expiration process here so
let's let's go ahead and order 120 well
let's just do 60 drinks for now we'll do
the middle choices for everything just
for simplicity to get started so now
I've selected what I want to order
notice there's a twenty dollar shipping
cost associated with that so the total
cost is going to be 180 $8 so let's
click buy so I have to click buy in
order for this these products to be
purchased so let's do that there we go
so we've clicked purchase and now you
can see that we actually have a quantity
of products and the products will expire
after a certain period of time so again
we order too much they might end up
expiring now sometimes if I try to order
too much yeah it won't fit in my truck
or my mobile cart and so in that
instance I actually have to rent a
trailer and you can see here there's a
little trailer visible and I could click
the button here which will rent the
trailer for the day which will cost me
$25 well in my case I'd actually don't I
didn't order so much inventory so it
actually fits in my truck I actually do
not need a trailer I'll know if I need a
trailer because when I go to buy my
products it'll actually pop up with a
warning telling me that it cannot make
the purchase because I don't have enough
storage capacity in that case I would
turn on the trailer and then try to buy
again and the purchase will go through
the last decision I need to make here is
the quality of my products and the
appearance of my food truck so if I want
very good quality products I'll pay a
little extra for that so let's pay $3
$30 for very good quality products and
that hopefully will keep my customers
happier and then I can purchase or pay
for cleaning and
maintenance of my food truck to make
sure it looks clean and looks
professional and so that people will
feel good about buying from my food
truck so let's invest 30 dollars in the
appearance of our truck as well so now
we've completed all the decisions for
our products now let's move on to
employees step four so we have three
employees to choose from they'll always
be the same employees and it's Jack Moe
and Sophia and if you read about each of
the employees you'll notice that Jack
doesn't have much experience at all and
Moe has a moderate amount experience and
Sophia has a lot of experience and in
selling and so on and their their cost
their salaries are similar to their
experience so jack has no experience so
he's also the least expensive it costs
you $10 an hour to hire Jack to work for
you and Moe costs 15 and Sophia costs 20
Sophia is twice as expensive as Jack but
with Sophia's experience she can
probably be more productive maybe serve
more customers maybe more reliable and
showing up for work
and so on so these are decisions you're
gonna have to make now you can choose to
hire one two or all three employees you
don't have to hire any employees if you
don't want to so it depends on how busy
you think you're going to be if you
think you're gonna be very busy you'll
want to hire maybe all three employees
if not maybe just one so I'm just gonna
hire Jack for four today just so we can
see what happens when we get started
next we have to do our advertising now
again advertising is optional so you do
not have to purchase advertising but if
you do presumably it will increase the
awareness of your business with
customers and hopefully more people will
come to your business so you can do
radio ads newspaper or hire an
entertainer to busk in front of your
your your your truck or your cart to
attract attention and so you can not
only turn somebody on so I'm going to
hire an entertainer let's say and again
you can charge all three of these on or
just one of them or none of them I'm
gonna hire an entertainer and I can also
click the options here so in the case my
options here are
the hired entertainer for one hour for
$50 or five hours for $110 and so on so
the more hours the less expensive on an
hourly basis it is so I'm gonna choose
three hours for today and the other
options are similar or you can pay more
for more advertising in the choice they
make so we've done it we've made our
five decisions we've selected our market
mm we're gonna be in the factory today
we've reviewed the news and so on to
help us with that
we've set our work schedule by using the
buttons to identify the hours that we
want to work and in this green area
we've set the price of our products and
by the way you know setting prices for
products really should understand how
much they cost as well and you know we
can see costs here but we'll be able to
look at some reports as well to help us
with the costing we've hired one
employee today Jack where you could have
hired more but we've decided to stay
with Jack for today we've hired a bit of
advertising with an entertainer for
three hours and now we're ready to open
for business and we could go to reports
by the way at any time but let's go
ahead and open for business now once I
open for business
that's remember we've made all decisions
at the beginning of the day of the
morning now the day is going to happen
once I open for business I cannot change
my decisions for the day I can all I can
do is sit back and watch what happens
and then wait to the end of the day and
the start of the next day at which point
I can change some decisions but during
today which is again is Monday day one
once I click this button I will not be
able to make any changes so let's do
that all right so we can see a clock
we're gonna open soon oh look Jack's
gonna be late so that's not gonna be
great because we're gonna lose some
customers perhaps so traffic has been
building in the city based on the based
on the time of day and you can see
customers are coming the ones that are
in color as opposed to gray are actually
purchasing from my truck and you can see
what they're purchasing here what
they're commenting on how many I've sold
in the blue area what the price of my
products is underneath now look this is
red beverages has turned red because I
actually ran out of beverages I didn't
order enough and
customers were continuing to order that
and unable I was unable to serve
beverages to them which could hurt a
number of a number of things with our
business but at the end of the day we
this little window pops up and shows us
that we've served 193 customers so
that's pretty good number of customers
to serve for the day our sales revenue
this is how much money customers gave us
for the products that they purchased is
five hundred and seventy one dollars the
cost of goods was a hundred and fifty
two dollars now cost of goods that is
the cost of the products that the
customer purchased so remember the
popcorn costs as oil it costs us a box
for the popcorn the popcorn itself so
those items are considered the cost of
those goods now cost of goods doesn't
include all of my costs it's only the
costs of the physical item that the that
the customers have purchased the other
costs are things like my employee
salaries my advertising my insurance and
so on those costs are going to be
reflected in other reports so this is
just a summary report that shows me my
gross profit so gross profit is sales
revenue minus cost of goods so my gross
profit is $418 stay now you might think
does that mean I made $418 State not
really because remember those other
costs like my employee cause and
advertising costs are not reflected in
this window that once we subtract all of
our costs that would be our net profit
and that would determine if we actually
really made money today or not and we'll
be able to look at that as soon as I
click on the ok button so let's go ahead
and do that so now what happened is
we're now in the reports area it
automatically takes us to reports area
and it shows us our daily summary so the
daily summary for day one year one which
was the day today that were just
finished and it shows me now all of my
costs not just my sales revenue and my
cost of goods and my gross profit but
also my other expenses and you can see
all the other expenses add up quite a
bit in fact in total $265 worth when
up all these individual ones here so my
contribution to profit which is
essentially your net profit is a hundred
and fifty three dollars so the gross
profit minus the total selling expenses
gave us a hundred fifty three dollars in
net profit which actually means we did
make money we made one hundred fifty
three dollars so that's not bad for our
first day now you'll notice here it has
the word loss in brackets so if we had
lost money in other words if our total
selling expenses was more than our gross
profit
this number would be negative we'd
actually have lost money and that that
negative number would be shown in
brackets brackets are used in accounting
to show negative numbers sometimes
you'll use a little minus sign that we
all are familiar with from math but in
accounting they're usually use a bracket
so that's why you see here if you see a
positive no brackets it's a positive
number of profit if you see brackets
it'll be a loss so the cash at the end
of the day so basically means how much
cash did I start today with remember
that cash was in our smartphone how much
cash did I start the day with and then
add this amount of profit and that gives
us the cash at the end of the day this
was negative we could actually subtract
that so cash at the end of days four
thousand dollars so again that was a
pretty good day and we can see this
reflected in our smartphone so it
updates the cash automatically in fact
while this while the day was running and
we're making sales you might have
noticed that these numbers were actually
updating in real time and our sales are
back to zero because now we're we're now
on day two and you can see the
smartphone actually says day two so we
have no sales for day two
but our sales total from all the
previous days which in our case is just
one day it's five hundred and seventy
one dollars now you'll notice the
customer satisfaction is now visible so
this little icon shows that our
customers are very happy in fact as I
roll over it here you can see it says
eighty-nine percent that's our customer
satisfaction level that's a really good
level for our first day now what we can
do is on the reports area we can access
all sorts of other reports so we can
look at reports like balance sheets and
income statements or sometimes called a
profit
statements so these give us more insight
into our business and remember when we
were choosing our accounting setting we
could have actually hidden our balance
sheet and income statement that's these
two reports but there's a whole bunch of
other reports as well let's look at this
one this one's interesting its customer
comments customer comment is really
interesting because it helps us
understand what our customers are
thinking so you'll see here from this is
day one year one lots of cost each by
the way each one of these is a comment
from one customer and not all customers
were comment only a small percentage of
customers will actually comment so
you'll see a lots of COTS of customers
are saying good price and a few are
actually saying too expensive so that's
interesting
in fact that's mostly what they're
saying is good price and too expensive
so that tells us a few things number one
if somebody thinks our price is really
good
maybe our price is too low maybe we
should consider increasing it not too
high but enough that we're making more
money because if we increase our price
we can make more profit now in some
cases they're saying too expensive now
in the real world there's always going
to be some customers that think your
prices really good and some that are
gonna think it's expensive but it could
also mean that maybe one of our products
is to expense because we're selling
three products and this doesn't tell us
which product the customers purchased so
we have to kind of try to figure out a
little bit as maybe that maybe it's
maybe that one or two of our products
are priced really well but a third may
be a bit too high so we have to
experiment with this information to try
to find the best balance here another
report we'll look at very briefly is a
general journal and general ledger
so again if you're studying accounting
these reports will be very important to
you if you're not studying accounting
you probably want to understand what
these reports are and that's okay too
but the general journal in general
ledger give you more detail about all
the financial transactions that are
happening in your business so if your
instructor has your simulation set to
hide your balance sheet and income
statement and what and they want you to
build your own you might well you'll
need to refer to the general ledger and
general journal to actually do that
activity but there's many other reports
like market share reports sales by
product so you can see which products
sold them
and so on so now the concept is you've
finished day one you're now at the
beginning of day two as you can see in
your phone here and you would repeat the
process all over again the weather is
different the news is different the
competitors may have moved in fact I can
see that the green food truck has moved
to the to the shopping district when
they were in the business district
before and I can adjust all my decisions
all five of them again just my prices
check out my inventory so look here I'm
out of beverages remember we ran out and
that hurt our sales we could have made
more sales if we had enough beverages so
got to make sure we reorder the
inventory that we're low on I may want
to hire some employees and a jack was
late on day one so that probably
impacted our sales a little bit so you
know maybe I'm not rely on Jack as much
or maybe I should because you know he's
he's inexpensive and and maybe I can
accept the fact that you might come late
a few times but again those are
decisions that I have to make as I run
my business and I would repeat this
forum as many virtual business days as I
want to play or as my instructor directs
me to do as I enter an achievement so
remember these achievements that you see
in my smartphone here as I heard them
they'll they'll change they'll actually
change color and they'll they'll light
up and so you'll be able to see that
you've actually earned the achievements
and how many times that you've earned
them that shows them you're below now in
this in the in the online version of go
venture food-truck
every day that you complete is
automatically saved online in the cloud
you don't have to do anything and if you
want to quit now and come back and play
later it will automatically resume your
progress from exactly where you left off
but if you're not using the online
version if you're using the locally
installed version meaning the version
that's installed on your local hard
drive or your school network then you
actually have to save your progress
before you quit you don't want to quit
before saving your progress because
you'll actually lose your progress so
you'll click on the Settings button and
you'll click save business when you
click save business it'll bring up a
window and ask you to name the file that
you want to save your progress to it