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A Business Professor Starts A Company In Startup Simulator - YouTube
Channel: BuzzFeed Multiplayer
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this game is telling me that we cannot
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afford a coffee machine and that instead
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I can offer him a $2,400 bonus I think
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I'll take the $200 out of my pocket and
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buy a really good coffee machine and
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call it a day I'm sherry and I'm an
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entrepreneurship professor and media
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executive I'm a producer as well as a
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production head I've run companies I
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primarily focus in animation and kids
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although I've done quite a bit of
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primetime animation as well I was the
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original producer on both the Simpsons
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and Family Guy I helped launch the
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cartoon network with Dexter's Laboratory
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Powerpuff Girls Johnny Bravo count
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chicken well I think I definitely have
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the experience and the skill set to be
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able to build a business and run a
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business the question is how realistic
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is the game alright let's do it
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start a new game wants me to name my
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startup well we're gonna call it super
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startup I have to configure your my CEO
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to get started in this CEO and now I
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have to choose whether she's a manager
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or an accountant I'm going to choose the
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manager because it's very important to
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manage your people now I have to create
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a website and it's either a social media
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one a shopping platform or a streaming
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service I'm going to go ahead and do a
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social media one I think we're going to
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call it later Graham's select whether
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you want an investor or take a bank loan
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I'm definitely going to go with the
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investor mode I'm more comfortable with
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that route an investor is potentially a
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strategic investor they can provide you
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with some resources they like to see you
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grow as opposed to a loan which is just
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a strict here's your money pay interest
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on it starting now hi there nice to meet
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you my name is Pam and I'm your new
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advisor from Johnson invest an investor
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is going to want to put somebody in your
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company to make sure their money is
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protected every time you complete a
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milestone a payment will be made
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instantly I'm gonna go ahead and take
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the building that they recommended you
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want to make your investor happy it's an
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office that allows 10 workstations that
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seems like a good size for me at this
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starting stage so milestone 1 is now
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completed I don't think an investor is
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going to hold up money until you get
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rent next we need to get you started
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on a desk wow this investor doesn't have
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a lot of expectations here purchase menu
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and we're gonna buy a beginner desk this
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CEO it just presumably me we're going to
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select it milestone 2 is now completed
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so now the CEO is $55,000 in we're now
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ready to hire some employees click your
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CEO if not selected already to headhunt
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and to hire your first employees
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according to the next milestone in the
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top right corner so in a social media
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site I would presumably need developers
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to build the application itself
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I would also need to hire a team that
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really understood the marketplace and
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what kind of features we need to build
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we need to hire marketing people to go
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out and sell advertising which is how we
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would make our money so we're gonna go
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with developer first so as a CEO of a
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start-up you have to wear many many hats
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you have to be a recruiter you have to
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be HR you have to be manager you have to
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be everything ok I have a candidate here
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looks pretty good gonna negotiate salary
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with him as a start-up you can't pay
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huge salaries but what you can offer
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employees and a start-up is stock
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options as the company succeeds that
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they will continue to grow with the
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company so since he's a beginner level
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guy but all for him five thousand a
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month Sean came back to me
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counter-offered at fifty seven hundred I
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think that will actually work with our
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budget so I'm gonna go ahead and do it
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because you want to make sure he's happy
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and doesn't feel undervalued so I'm
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gonna hire my designer next okay so I
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have two candidates so far I'm gonna
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wait for a third to kind of decide who I
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want to hire here I think I'm gonna stop
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this recruiting process and I'm gonna go
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with Veera
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she's a beginner but her speed is better
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than the other beginners since she's
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also going to be a team leader we're
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gonna offer her fifty four hundred she
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came back at sixty two hundred so we're
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gonna move on that's gonna be above our
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budget I'm gonna go with the next
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fastest guy try to hire him for that
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price and see how it goes like accepted
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our offer at fifty seven hundred so
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we're gonna go with that so we're gonna
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have Ryan start with the blueprint and
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then move on to the wireframe
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then he'll create the graphics and then
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the user interface and now we're gonna
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go to Sean I now have milestone 3
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completed because I've hired my people
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I'm gonna have him build the UI
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component first and then build the
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back-end component and that'll get Sean
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plenty busy for the moment next we need
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to do some researching in order to get
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started with our website so and I need
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to add a landing page upgrade the
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landing page you will need your
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employees to produce the required
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components ok so we now have a landing
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page but it looks like I need to upgrade
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it we're a little slow off the start
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obviously this is very typical in a
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startup we have to get people used to
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what the goals are and perform an
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optimal level you have to listen to your
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customer that is probably the single
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most important lesson that entrepreneur
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needs to learn we have beginner
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employees so they're just not quite as
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prolific and fast as they could be so
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we're not gaining users as quickly as we
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could ok alright we've now completed
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milestone number five so we're getting
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there Wow your new landing page will
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definitely make people excited about
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later Graham all we need to do is a bit
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of marketing to get some traffic we are
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gonna go after any gender users and
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we're gonna create our campaign because
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we want both audience reached is 7% my
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conversion rate is 5% that's actually
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not bad at all so this is with a
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thousand dollar budget because it's
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getting a nice conversion rate I'm gonna
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go ahead and double my budget so we can
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get lots of users now it's time to get
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back to our website and add more
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features so again it's sort of cyclical
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you get more people on board and then
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they'll tell you what's missing and what
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they don't like about it so in order to
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upgrade my features I need more
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experience developers and I need to
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boost up my development team so I'm
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going to add another desk and I'm going
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to hire a researcher so that we can keep
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getting more points to hire with
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obviously you have to understand your
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market and you have to understand your
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customer but that's not always done by a
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researcher often done by market
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knowledge for the people you hire or
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your understanding so we're going to I
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Shayne because he's a lead developer
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we're going to offer him 9,000 per month
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so he accepted excellent shoot I over
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offered him I thought I was dealing with
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the lead developer that we'd never
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happened in the real world obviously I
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think there are some elements to this
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that would teach you how to run a
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business unfortunately if this was a
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real business
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the very first step you'd need to do is
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find your investor what's really
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important is progress we took a little
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bit here as you can see on this line to
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get our team up to speed to get them to
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produce the necessary elements for us to
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even launch and to be able to upgrade to
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the point where users now like coming on
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board I'm gonna go ahead and bet on the
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fact that we've now increased our
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functionality four times and so we
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really need to get the word out there
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we're ready for more users so we're
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gonna go ahead and spend way more money
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on marketing so we went from twenty to a
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hundred and sixty users got a little bit
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of a problem here which is totally
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expected and totally part of the game
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you have your employees there working at
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full capacity you have demand from the
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marketplace you have to continually
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upgrade your features in the meantime
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you have to hire more people in order to
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add more functionality I'm gonna add a
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lead developer now so that we could
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start getting a little bit more health
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our lead developer is going to sit over
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here
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so we're gonna task our lead developer
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with what we need in order to move
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forward most efficiently we've hit a
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little bit of a scary time in the
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company here our money is running low as
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soon as we hit a point in the business
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where they've produced the functionality
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for the next upgrade we will be able to
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get more money from the investors we'll
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hit the next milestone so this is very
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exciting we got to the point where our
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landing page can now actually be more
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than just the landing page we're adding
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a comment functionality because we're
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our developers have been working around
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the clock and getting things done now
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we're going to add functionality so
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we've hit milestone number seven woohoo
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we just got more money so we skated by
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great work your first real feature
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and we've noticed the smiley on top of
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the corner of the future tab this is an
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indication how satisfied are your users
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are currently they're not too happy
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because your new feature is too
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low-level so this is not unusual so you
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hurry up can you get the feature out and
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the users don't like it you will need to
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hire a new lead developer in order to
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create the required module I have a
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problem my lead developer the lead
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developer seems to go home whether or
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not the task is done the company's
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hanging by a wire here and needs that
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functionality to be completed just 97%
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completed and decided to go home before
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finishing up her work not only that but
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she does seem to be working very slowly
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so obviously we need to have a talk with
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Lydia Gonzalez good news bad news
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the good news is our marketing campaign
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and our new functionalities working and
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we have a lot of new users but with that
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comes the burden of having to host them
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properly and our system is going crazy
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and we're at risk here so we hired a
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system admin he's working on the backend
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on the hosting side of things because
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god forbid if that busts up on us then
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that means the whole site goes down you
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know I'm noticing that I've got a couple
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unhappy employees who start coming in
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later they're not performing at very
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optimal capacity
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you can't ignore your people problems
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because that is something that you
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depend on in order to function in order
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to reach your goals so Sean Hampton
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who's the designer we hired very early
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on seems quite unhappy he's only at 56%
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level his demand is that we go to a 7
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hour workday that we get a coffee
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machine that we get him a small
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retirement plan
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coffee machine great way to get
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employees happy small retirement plan
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we're just a little bit too early of a
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company to be starting retirement plans
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we're barely making it buy with the
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money that we have and 7 hour work day
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very unreasonable in the startup if you
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want a 7 hour work that work days do not
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work in a startup startups are notorious
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for long hours we all need to pull
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together to make this happen
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this game is telling me that we cannot
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afford a coffee machine
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and that instead I can offer him a
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$2,400 bonus I think I'll take the $200
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out of my pocket and buy a really good
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coffee machine and call it a day
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aha I've graded one more time we can add
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functionality on the server and that got
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us out of hot water for at least a
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moment looking at our cash flow over
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here we're at 80 100 dollars this isn't
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great we're gonna have to get to the
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next milestone pretty quickly that's
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predicated on us reaching the 75 percent
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satisfaction rate on our comment page
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satisfaction is at 70% we need to be at
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75 so we're not too far here are some
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good news I mean looking at our stats we
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are at 73 thousand registered users
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eighty-nine thousand potential users and
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our valuations got up to six hundred
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thousand dollars and considering we just
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started this isn't so bad as soon as we
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get more money we'll start increasing
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the marketing budget again very low on
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cash and I need my people to perform I
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am
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literally one widget away from being
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able to upgrade to I'll get more cash
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working against the clock here hopefully
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we'll make it happen he is a very fast
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guy we did make it great hire with him
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we have 798 dollars left in the bank
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this is not a good place to be never
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would be realistic in a company to be
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that low and we made it guys
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woohoo here it is we launched our new
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feature we're at seventy five percent
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satisfaction rate and we got more money
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so went out back up to a hundred and
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twenty one thousand dollars this is a
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lot of fun it's a great game to have a
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show what really goes on and a startup
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in all of the different elements that
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you have to deal with or at least most
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of them but this really did simulate
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well the interaction between having to
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hire people having to manage them having
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to get them to be effective and how
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their efficiency directly affects your
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business and your ability to survive in
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those early days of a startup
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[Music]
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