Budget Battle Royale: A Startup Simulation Game

Objective:

Students will work in small groups to manage a mock startup budget, making decisions to maximize profit and understand the impact of income and expenses.

Materials:

• Sets of "Income Cards" (e.g., "Sold 10 items for $50", "Received a small investment of $100", "Successful marketing campaign +$75").
• Sets of "Expense Cards" (e.g., "Bought materials for $30", "Paid website hosting $15", "Advertising cost $25", "Repairs needed $40").
• "Decision Cards" (e.g., "Expand marketing effort (+$20 expense, potential +$50 income next round)", "Develop new product (+$50 expense, potential +$100 income next round)", "Cut costs (reduce expenses by $10, but lose $5 income next round)").
• Blank paper or mini-whiteboards for each group to track their budget.
• Markers/pens.

Setup:

1. Divide the class into 3-5 small groups (each group is a "startup").
2. Give each group an initial "startup fund" (e.g., $100 in imaginary money).
3. Shuffle the Income, Expense, and Decision cards separately.

How to Play:

Round 1: The Startup Phase (5 minutes)

• Each group draws 2 Income Cards and 2 Expense Cards.
• They record their starting fund, calculate their total income and total expenses for this round, and determine their current profit/loss.
• Discussion: "What was your initial financial situation? Did you make a profit or a loss?"

Rounds 2-4: Growth and Challenges (10 minutes per round)

• Income/Expense: Each group draws 1 Income Card and 1-2 Expense Cards (teacher can vary for difficulty).
• Decisions: Each group draws 1 Decision Card. They must discuss as a group and decide whether to implement the decision, understanding the potential financial impact.
• Budgeting: Groups update their budget, calculate new profit/loss, and update their total fund.
• Teacher Check-in: Circulate among groups, asking questions like:
  • "Why did you make that decision?"
  • "How did that expense impact your profit?"
  • "What strategies are you using to make money?"

Final Round: The Pitch (5 minutes)

• Each group summarizes their startup's financial journey. What was their final fund? What were their biggest successes and challenges?
• Optional: Groups can quickly "pitch" their startup and its financial health to the class.

Winning:

The group with the highest total fund at the end of the game wins the "Budget Boss" title! (Or simply recognize groups for demonstrating strong budgeting skills and teamwork.)

Debrief Questions:

• What did you find challenging about managing your budget?
• What surprised you about income and expenses?
• How did making a budget help you make decisions?
• Why is it important for a real business to track its money?
• What would happen if a business didn't pay attention to its budget?

My Startup Budget Planner

Part 1: My Startup Idea

1. My Startup Name:
   
   
   

2. What problem does my startup solve, or what product/service does it offer?
   
   
   
   
   
   

3. Who are my customers?
   
   
   

Part 2: Brainstorming Income & Expenses

Think about your startup idea. How will it make money, and what will it need to spend money on?

Potential Income Sources (How will you earn money?)

Potential Expenses (What will you need to spend money on?)

Part 3: Create Your First Monthly Budget

Now, let's create a simple monthly budget for your startup. Make some reasonable guesses for the amounts.

Income

Expenses

Part 4: Calculate Your Startup's Profit/Loss

Total Estimated Monthly Income:

Total Estimated Monthly Expenses:

Profit or Loss (Income - Expenses):

Part 5: Reflection

1. Was it easier or harder than you expected to create a budget for your startup? Why?
   
   
   
   
   
   

2. What's one thing you would change about your startup's budget to try and increase profit or reduce loss?