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Building a startup is a lot like SimCity…except losing fake money is better than losing real money

SimCity revolutionized computer games. It allows the user to develop digital communities via simulated city planning decisions. A lot can be learned about entrepreneurship through SimCity. The most important part being the ability to operate a multitude of knobs and buttons that all have implications on the others. I’m trusting that our readers are as nerdy as we are and are ready to jump head first into this metaphor.

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Two Sim City Case Studies:

This is part one of my casino-tourism (gambling) tutorial for SimCity 2013. In it I talk about increasing profits, number of tourists and/or gamblers and the. The casinos would NEVER think to risk the business of higher level players by instituting such a rule. Yes, we contribute, but it is the loss of revenue from higher level players (despite their lower populations) that really matter to the casinos as that is what impacts the bottom line. How to make real money by playing online games. In fact, if you lost money at casino, this may be an opportunity: This situation shows that you are not playing the right games, using the correct strategies, allocating the right budget, or simply playing too much. In short, losing money at the casino will let you understand the problem and what causes it.

First City

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It took a month for me to build the biggest and best city I ever created. Every little change required other little changes. The whole thing was like a house of cards. Soon enough you have a profound amount of knowledge of the opportunity at hand. As an example, a 1% tax increase will affect fourteen other things that might not be worth the additional revenue. It felt like things were always moving in the right direction, but slowly.

Second City

A lot of the fun part of SimCity is buying sculptures, fancy buildings, amusement parks (the virtual perks of being a mayor). In my First City I was awarded these things sporadically. This wasn’t fast enough. So I Googled “Sim City money cheat.” What I found was if you typed in a specific code they’d give you an extra $1,000. Like a good investor I spent the first two hours of my Second City typing the cheat for more money into the game over-and-over again. I’m not giving up the cheat BTW, and when you’re done reading this post you won’t want it. Eventually I had more money than I could ever spend — so I started my city. I made big tweak after big tweak and eventually found myself with a rather large community. The problem was that the money I thought would never run out, did. For two reasons, one: expenses. All the people that came to the city came with increased costs to run the city. Two: my big tweaks were expensive and eventually ate up my cash reserves. Because I hadn’t slowly tested my market I could never sustain a correct tax income to expense ratio. To stay “in the black” I’d have to raise taxes, which would move people away. Then I’d lower taxes – they’d come back – and I’d be in the red. Eventually I quit because without cheating I couldn’t sustain the city.

From SimCity to StartupLife

The Shampoo Theory of Economics

Doesn’t it feel great to have a new bottle of shampoo? Oops, a pool just squirted out into your palm. Oh well, why not use some on your body, legs, or wherever else there’s hair… Soon, the bottle starts to run out. You begin using it every-other-day, or every three days (maybe less?). When do choose to use it, it’s with half the amount you used before, and it only goes on your head. Then it’s gone.

Money suffers the same fate. When there is a lot of it to be spent we spend it in different ways than when there is only a little of it. Startups need to remember this theory at all times when budgeting. Remember, an important metric in entrepreneurship is the length of your runway. With regards to the Sim City analogy my runway was longer in the first example (despite substantially less money) because of the way I spent it, and not how much I could get before I started. This is a prime example of why we don’t like it when entrepreneurs are given large sums of cash at one time. They end up with a lot of purchases that they’ll regret when the runway ends. A third of my city was on fire because I couldn’t afford to fund my fire stations, and in this moment I wasn’t too proud of the nine soccer stadiums I had built. How stupid are you going to feel after a gigantic launch party, t-shirts, stickers. but you go out of business because you can’t fund the company any further?

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What I learned in Sim City is that the pursuit of knowledge was more important than money. The only way I could acquire real knowledge was with real customers, real situations, slow growth, and sustainable strategies. This is exactly how a business is supposed to be built. Slow and sure with an emphasis on knowledge. Knowledge will translate into revenue and investment – I promise. In the case of Sim City – and startups – knowledge also represented traction. Although slowly, something was actually built rather than a fake thing that would never last forever.

We’ll break down every step down below.The first option only applies if supplemental wages are combined with regular wages and there is no specification of the amount of each. What Is the 2021 Supplemental Tax Rate?describes several methods of calculating the federal income tax withholding on supplemental wages:.Combine the supplemental wages with the employee's regular wages, and withhold the federal income tax as if the total were a single payment for a regular payroll period.Identify supplemental wages separately from regular wages and withhold a flat 22% (as of 2018).If the supplemental wages are paid concurrently with regular wages, add the supplemental wages to the concurrently paid regular wages and calculate the tax withholding. Difference between money wages and real wages in tabular form. You’ll add the wages together and withhold federal income tax as iif the total of the regular wages and supplemental wages is a single payment for a regular payroll period. Some examples of supplemental wages include:.Commissions.Overtime pay (if paid separately from regular wages).Payments for accumulated sick leave.Severance pay.Reported tips (if paid separately from regular wages).Awards, prizes, and bonuses.Back pay.Retroactive pay increases.Payments for nondeductible moving expenses.Taxable fringe benefits and expense allowances paid under a non-accountable plan.

Batch Size

In the second city I was building large neighborhoods, meandering watering systems, and an intricate underground rail all before people even officially moved in. Ultimately you’d think people would respect a more built-out city. In a way they did, but not when I ran out of money and had to cut every public service, allow gambling, and put a military base nearby to scrounge for extra revenue. The point is that it’s a lot better to have many small iterations than it is to have few but grand iterations. This allows you to build for your size. It may seem like your startup is going through a perpetual puberty, and yes, it’s a pain in the butt to keep buying new clothes for your mutant child. That doesn’t mean you send the poor kid out in public with things that are two sizes too big. Same thing with simulated city planning and startups. Keep your batch size relevant to the size of the venture – which at this point is probably a lot smaller than you want to admit.

Vanity Metrics and Success Theater

One of the most destructive things an entrepreneur can do is buy-into vanity metrics and success theater. In the case of the second simulated city ther

2021.09

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