New Video Game Simulates Starting a Business

Doctors and lawyers make good money, but it's the small business owners in this country who make serious money. In the US, even people who don't set out to become independently wealthy are drawn to entrepreneurship. It seems that being your own boss and having the ability to set your own hours is a national obsession - but if it were only that easy. The risks involved often drive many people away from hanging their own shingle. Entrepreneurship is one of those facets of life where sometimes ignorance is bliss. Today I was tinkering around with a game called "Johnny Money Online." The game is an online game that was released by the Wharton School of Business.

Johnny Money Online is free and geared at teens interested in starting their own business, but applicable to adults as well. The game gives you a crash course in all the decisions business owners make and how much uncertainty is involved. You play a retail business owner and must make purchasing, advertising, and marketing decisions. I failed miserably at this game and if there are any small business owners who have tried it out, I'd love to hear your opinions. What is representative, good, bad, otherwise?

Image: Kimberly* @ Flickr

Should You Offer a 401(k) in Your Small Business

Aside from fostering goodwill among your employees, should your small business consider starting a 401(k) plan for employees? Entrepreneur.com has a list of 5 good reasons every small business should offer a 401(k) plan:

1) It's more affordable than you think.

2) It strengthens your business by attracting and retaining high quality employees.

3) Minimal administrative burden.

4) Most small business plans are web-based and have eliminated much of the paperwork.

5) It can help secure your own retirement.

So readers, what do you think? Business owners, are the extra costs justified for small businesses? Employees, is it a deal killer if a small business doesn't have a 401(k) plan?