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GoVenture Small Business Simulator Game, Tutorial Video, Business Game, Business Simulation


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welcome to the grill venture small business tutorial video let's learn how to play so we go about your small business you're put in the role of an entrepreneur small business owner who starts and runs their own business you make minute by minute hour by hour decisions let's go in have a look so one things you'll notice is that anything that's colored orange the or color orange is clickable so we have sliders that we can change numbers with drop-down selectors text boxes that we can scroll and buttons that we can click so anything orange is clickable so if this is our first time playing what we want to do is start a new simulation if we've already been playing a simulation and we saved it previously then we could resume where we left off by using the resume option we'll come back to this a little bit later and we can also adjust the sound on or off you can also use your own computer speakers and settings for that so let's start a new simulation so what we can do here is we have two options we can either dive into a Quick Start a Quick Start is a pre-existing business that's already set up in the system it's not one that you've created it's one that we as the designers have created for you and you can dive into an existing business by choosing a quick start the other option is to start your own business by making all of the startup decisions yourself so you can see here there are twelve startup decisions that you can make and you do this by clicking on each of the twelve boxes so let's do that so here we can enter our profile and so we can say our new example we can browse our computer drive to add a photo if we prefer and we can set what our expected salary is going to be now this is not the actual salary will earn in the business this is just what we would like it to be you know what yearly or monthly and so on you can look back later to see if you're actually meeting your objectives


personal objectives where we can write a brief summary of what our goals are our personal goals for starting and running a business is it because we want to make a lot of money is it because we want a nice type of lifestyle is it a combination of both whatever our objectives are we can find them here the business plan area is where we can do a simple summary business plan this is primarily an executive summary of a business plan because you're not gonna do a fully detailed one here but it's a nice place to start to determine what your business objectives are going to be and how you're going to go about reaching them using your plan you can work on your plan as you run your business next is our business type this is where we select the type of business we want to operate we can operate an ice cream store sort of like a Baskin Robbins type store it's ice cream is actually the easiest business in the choices here we can do a coffee shop sort of like a Starbucks or Dunkin Donuts for example we can do a sandwich shop somewhat similar to a Subway business or a music store like an HMV and we can choose any one of those to start for our business I'm gonna choose the sandwich shop our legal structure this is the legal entity that we're gonna create for our business we can either do a sole proprietorship partnership or corporation you can read about the details by choosing each one and then reading a summary of what the differences are I'm gonna choose a corporation we can enter our business name I'm gonna call mine yums for yummy sandwiches and we can also search through a search on the business to see if I already exists it's gonna cost us $50 the benefit of searching for a business name is to make sure that one is not already registered because if we try to register a name that has already been registered by someone else we could be infringing on their trademark and that could cost us money so you may want to consider doing a little search first but I'm gonna use the name anyway we can choose a logo for our business we can either choose from the many options that are available to us or we can upload a logo from our own computer in perhaps we created our own logo using Photoshop or illustrator or some other graphic program and then we can add it to the game here


location is where we want our business to be located and location has a number of effects from how the weather affects the traffic patterns of the location the time of day that you'll see peak traffic times and and so on so location you want to select carefully and you can choose from different regions or different countries differ regions the larger the region the more competitors you might have and these are all virtual competitors they're not other human players there are computer run businesses that you can compete against and you can also choose the location within the city or the town whether it's the shopping district or the entertainment district and so on and again this will affect a variety of variables in the simulation you can read about them all here so let's choose then we can move on to site and this is the size of the unit the actual business that you're in the location and you can start with a small one and grow or you can start directly with a larger location and of course the larger the location the more customers you can serve at the same time if you have a small location you might find that there's a lineup and you might lose customers because the location might be a bit too small but of course a larger location can often cost more money so you want to read the details carefully before you make your choice


the equipment this is the equipment you need to operate your business so I have a sandwich business so I need a right of refrigeration perhaps some ovens and toasters and this type of thing and so we can choose different types of equipment some are under warranty some are not warranty means if it breaks down it will be replaced and no cost to you whereas if it's no warranty if it breaks down then you have to pay the repair or replacement cost so you're kind of taking a bit of a risk with no warranty but you're also saving money at the beginning so you choose the one that makes most sense for you


permits this is where we have to apply for various permits in our town or municipality or city that we're required to have with the government to make sure that we're meeting the obligations and guidelines for that location I can either purchase insurance and I can see the cost there if I need some environmental impact permits I have to do that as well and you can see that these these permits are automatically selected yes because I do require those permits I have no choice in buying them whereas insured and environmental are optional and finally we have seed financing seed financing is the money that you need to get started in your business and you can see a list of your startup cost so I can see my total us here are seventy four thousand dollars so quite a bit of money and startup costs but in addition to the startup cost which are the the money I pay out for my equipment in my location and my permits and so on I also need working capital working capital is like money you have in the bank that you used on a daily basis to buyer and buy your inventory and pay your employees and do some marketing and so on and you can have a lot of working capital or a very little working capital of course more working capital is better give you more flexibility but it might also cost a little bit more money depending how you're going to get that money whether you're going to take out a loan and so on you can also identify your sources of financing love money is essentially money from friends and relatives savings as your own personal savings debt is a loan from a bank or other organization and so on or you can do a combination of equity which is selling a percentage ownership in your business so you can adjust the sliders to see what's the best options for you and that's it so the good news now is we've set up all of our business decisions now normally it'll take you a little longer to do this because you're gonna want to take time to read through all the options that are available so you won't allocate a fair bit of time to do that and make the right choices and once you do you see all the green question marks all ready to go now if you want to change anything you can still do that you can go into your business plan and work on it a little bit more for example or you can still change your business type so you can change these options before you begin but once you begin some of them you will not be able to change like your logo for example in your name you will not be able to change legal structure you can't check you cannot change but you can continue to work on your business plan and your personal objectives and so on so let's begin the simulation okay so we've just launched our new business congratulations the first thing we can do is we can go through this quick tour by clicking the next button and we'd recommend that you do that it only takes a few minutes but let's let's quit that for now so we're ready to go it's telling us that our business has been set up to operate from Monday to Friday 9:00 to 5:00 that may be good or maybe you want to change that perhaps you want to work later in the evenings or also work on Saturdays and Sundays that's completely up to us and here's a step-by-step guide of what we should consider doing every day and we should take a moment to review that now one thing you'll notice is there's a flashing banner at the top says click here when you're ready to start so essentially this even though we've launched our business the simulation clock has not started you can see there's a clock right here it's 9:00 a.m. year 1 day 1 so the simulation will actually run minute by minute hour by hour it goes faster than the real world clock but everything runs based on this time but time is stopped right now and the reason it's stopped is because we now have the opportunity to set up our business if for we open it up for customers so we should take some time and order our inventory plan our pricing hire some employees you know do all the things that we need to do to plan properly before we open and then we're ready to open we can click here and the system will start right away now once we start the simulation we cannot stop it it will pause at certain times we and you can pause it at certain times yourself by clicking the time button for example or when you go home it'll pause as well but otherwise the clock will always be running and so I'm gonna start the clock anyway even though I have not actually setup all the decisions that I need to setup just so we can see how it operates so let's go ahead and click that alright so here we go it's 9:00 a.m. you can see customers are actually coming into the into the business and every once in a while we'll see them walking up to a counter and placing an order we can monitor the weather I can see it's actually cloudy and cold that affects the traffic patterns to my business and the types of products that people might buy as well so we need to keep an eye on the weather up here I can see what my menu of products are so there's my salad and my soda as I roll over each item it pops up describing what it is cookies underneath is the number of products that I'm selling now right now everything is zero and everything's red the reason we're seeing red bars is because I'm actually out of inventory I have not purchased inventory to have these products in stock or to make these products for example sandwiches we require bread and meat and vegetables and but I don't have any of that so I can't actually sell anything and the zero is the number of products of selling again have not sold anything under that are the prices that I have set for my products and we can change all these things as we run our business in this column here we can see the number of customers that we're serving and losing and we can actually see we haven't served any customers again because we don't have any products and also how many were losing probably because they're walking in and placing an order but we have to tell them that sorry we don't have any products today which is not not very good so again this is why it's important to plan before you actually click that banner to start the business now again you can see the clock has been moving as we've been watching here it's now already noon time so it started at 9:00 a.m. it's already noon time as I mentioned if we need to take a breath we can click the time button and it will pause you can actually control the speed of time as well you can make it move very slow or very fast now why would you change this well if you're finding that things are just moving too fast for you you may want to slow down and slow it down a bit the negative aspect of slowing down the clock is you can't get through as many days as you can with a faster clock and the fewer days you play the less opportunity you have to generate revenue and profit so the faster the the game plays the more opportunity you have to generate more profit but at the same time it moves too fast you can't make decisions as quickly so you have to be very careful about speeding up the clock too fast and very fast because you just may not have enough time to plan so normally you should stick with normal as you're setting you may want to go slow if you're finding it a bit too fast but be very careful about fast and very fast so let's keep it normal for now all right so we're back in the the main interface which is the management screen and that's what you can see at the bottom the main areas of our business and we can navigate to them by clicking the buttons along the right is our smart phone a virtual smart phone we can see how much cash we have revenue for the different of the day and the total for the all time our market share in terms of us versus our competitors our customer satisfaction so you see our customers are not very happy and again because we're not serving them very well once we hire employees we'll see an emoticon here as well for their employee morale and play morale means how happy employees are with their work and their job and we can also have monitor our personal stress which is impacted by how many hours we're working and what kind of positive and negative things are happening on a day to day basis and so we want to reduce our stress we want to go home and spend time with our families and time sleeping that will help reduce our stress levels so let's start making some quick decisions so as mentioned right now we're on the management screen so there's not much to do here we can we can click on here and visit the echo venture website as an example or we can look at some charts and graphs about our sales the other thing on this screen I'll note I'll mention as well is this orange box which will accelerate time temporarily so if you're pretty happy about your decisions you've got inventory you got your prices set and you want the clock to move a little bit faster just for a few moments you can just roll your mouse over this orange box and it will accelerate the clock until you remove the mouse and then it goes back to normal speed so that's another nice convenience feature oh now while I've been talking you can see it's clocks has reached five o'clock and my business was actually scheduled to close at 5:00 and that's what's happened here let's click okay now let's start navigating and making some real decisions for the next day so here's where we can set our operating hours so I'm set to work 9:00 to 5:00 every day but maybe on Mondays I want to open up in the morning so I'm gonna woken up open up a little bit earlier in the morning and I want to work until have the business open until the evening and I can do that I can see I'm closed on the weekends but maybe I want to open for breakfast on Saturdays and I can do that here as well employee schedules that's when we hire employees we can actually come here and schedule employees to work we'll do that in a moment here's our startup details this is where we can continue working on our business plan or we can see our name or logo or financing or legal structure these are things where you cannot change but we can't change your facilities so we can change your location or upgrade our equipment or site adjust our permits can cost us a fair bit of money to change these things so we do have to consider carefully but it is possible to change some of the options and what you do is just click on on each one to consider doing that now let's go to products in inventory here we can access our various products there's a salad or soda the price that we've set now what we can do is we can look at a product by clicking on it so there is our breakfast sandwich we can see what it's made of eggs and peppers and cheese and bagel and butter and we need a paper plate and a paper napkin so there's a lot of costs associated with selling this one sandwich and this is where we can set the prices of the sandwich so we can either use the plus and minus buttons or we can actually click right in there and put a price of $4 or whatever number we want using the keyboard and so we can adjust the price for all of our products so you can do this at any time even while your business is open now to make sure we have enough inventory to make these products we have to go in our inventory area here's where we can see all our different types of inventories from bagels and beef and bottled water and bread and so on we can see how many we have remaining the average cost the average quality better quality can attract better customers and they might be willing to pay more so that's something we have to consider and the shelf-life shelf-like means how long a product will stay without spoiling and of course with a food product they tend to spoil a lot faster so you really got to manage your shelf life and your inventory in other words don't order more than you can sell so here's our different suppliers these are our suppliers that we can order inventory items from and you'll notice that each one has different levels of quality different average prices different shipping options and credit credit is how much product they will ship to us value product they will ship to us without us having to pay upfront now if we pay the suppliers on time they might increase our credit if we don't pay them on time and we're late paying them or we don't pay them they will reduce our credit it'll make it difficult to buy from them so we may want to buy from one supplier or buy inventory from different suppliers depending on the combination of price and quality and shipping and all those factors that we need to consider out order more inventory we go here and we choose who we want to order from it brings up the list of products that we can order from that particular supplier so we enter the quantity of what we want to order it automatically calculates all the numbers choose the delivery time and then we can place our order let's go ahead and do that there we go and we can review the orders that are scheduled arrive so I can see that's the order I just placed and it's gonna take five days to arrive so again you got a plan ahead of time to make sure that you have everything that you need so that's our products inventory again that's where you set prices and you manage your inventory HR is where we can see ourselves and adjust what our expected salary is and so on again this is expected salary it's not the actual we can review resumes of different people we want to hire so we have all sorts of different employees and as you run your business you'll see new employees potential employees appearing as well so these people are not people working for us yet so they're not actual employees but they're candidates for employment so we can for example look up Annie we can read Annie's resume and then we can negotiate a salary offer we can try to we can give her a lot of money or we can negotiate a smaller amount of money so let's go for 9:45 an hour and see what she says well she's accepted our offer now some employees will not accept our offer depending on how much we're offering maybe they have more experience and they expect more money or not it's up to you to read into the resumes to make sure you're hiring the right people and you can hire multiple employees and schedule them to work at different times during the day and we'll look at that in a moment so once you've hired somebody there's Annie she's now our employee we can change your salary at any time of course if we increase our salaries should probably be happy if we decrease our salaries you probably won't be very happy we can invest money in training her we can read here about what the benefits of that might be we can dismiss her which means firing her she's not working out and so we have complete control over our expenses in a cost associated with having employees and of course having employees what it does it helps us serve more customers at the same time so when it's busy or even wanting Snap is it allows us to do some other things in terms of managing the business we can implement some benefits incentives if you want to increase the morale and real and loyalty of our employees and we can review HR reports to see how our employees are doing on a daily basis you know are they productive are they treating your employees customers well and so on now once we've hired somebody we can go to the operations area and you remember earlier seeing our employee schedules there's an e now appears in our list and an e scheduled work Monday to Friday but maybe a 9:00 to 5:00 but maybe we'll just have her come in and the mornings on Mondays as an example so that's our HR area let's look at sales and marketing here's where we can develop our summary strategy or essentially our four PS our product or price our place and promotion we can conduct different types of advertising campaigns so for example maybe we will do some radio ads and we make our choices and we can see where a cost associated with doing so is and when we run advertising campaigns our expectation is that it will increase the awareness of our business in other words more people will know about us and hopefully we'll increase the traffic to our business of course we'll never know for sure what works best until we try it and do some analysis we can invest some money in sales and marketing programs and we can read about the various ones here to see which ones we think might be best for us you can review various customer information we can see how many customers we served and lost at the bottom here there's an actual summary that shows us why we've losing customers is it because we're services too slow is it because our equipment is not large enough to manage that many customers or we don't have enough inventory in fact I can see here that I've lost 268 customers because I don't have any employees now I didn't have enough enough people working to serve those customers we can move on to competitors here this is where we can see some information about our quality and our product prices and how they compare to the computer competitors that we are playing against moving on to finance this is where we can see the bills that we have do items that we may have already paid we've earned which is our cash received and here we have to come and actually do our payroll so we have to pay our employees every so often we have to pay ourselves hopefully to make a salary and so this is where we would decide how much we're gonna pay each person and and so on and of course you have to make sure you have enough cash in order to pay everyone otherwise you run into cashflow problems to analyze our business we can go to our financial statements and we can read our balance sheet or income statement cash flow these are all very useful financial and business reports that'll help us make better decisions we can print our reports we can export some of them into a CSV format which allows us to import them into a spreadsheet like Excel for example if we want to do some more analysis we can raise money by going to the bank and asking for a loan or an equity investor will buy shares in our business and so by having more money we can do more things maybe we can do more advertising maybe we can grow into larger facilities and so on we cannot start other new businesses with our extra money for profitable or raise more money but we can invest in growing the same business that that we're already in and then finally because it's an entrepreneurship simulation of small business simulation we really have to understand work-life balance because in a small business the business owner is very much connected to the business and so at the end of the day you have to go home you can see how many hours you've been working and you can also allocate time for sleeping or with your family and this will determine what time you'll get to work the next morning so if I want to get to work the next morning at 7 a.m. I'd actually come home pretty late the next day here but I can click advanced time and it will take me right back to the next morning we can see a summary of the end of the day what happened and summer in terms of how many sales we've made and our costs and and so on and so the idea now is that the clock is always running as we mentioned except when you're at home getting some time sleeping and so on and you have to manage your time while you're reviewing your inventory or doing your financial statements the clock is still running customers are still coming your business so you've got to manage your time you gotta manage your employees time well and so on now while you're doing all this we have an advisor here that gives you advice along the way so as you click on different areas of the business you'll notice your adviser information changes and you can read a little bit more about advice as to what's happening a couple of other options to know about we've got a Help button here if you can read a user guide for assistance there's a performance report this allows you to view a detailed report of your performance and a score normally this is what your instructor is going to want to see so you would either save it or you might have a send button here and you click the send button which will send the report to your instructor and then finally after we've been playing go venture small business for a period of time you may want to step away and save your progress so you would click on setup and you would click save you don't want to quit right away because you will lose your progress if you quit let away you want to click Save enter some information here save it to a file on your computer usually it's best to save it under a file name that has the current date so you can actually monitor the different days that you've saved your simulation for so you can save it for today and then you can come back to it tomorrow or later today whenever you want and you would resume that file that you saved so think of it like saving a Microsoft Word file or an excel file or spreadsheet file on your computer and then you just reopen that file to continue your progress at any time so make sure you don't lose that file keep it with you and make a backup as well and then as you continue to progress you can see resave two new files and that way you always have backups in case anything were to happen with your simulation so that is it that is go bencher small business you've got everything you need to know to get started and good luck