4 BUSINESS LESSONS FROM YOUNG ENTREPRENEURS
GO ABOVE AND BEYOND FOR YOUR CUSTOMERS.
Lemonade stands are rumored to have originated with New York journalist Edward Bok, who, as a kid growing up in Brooklyn, sold ice water on hot summer days to thirsty passersby. When other water salespeople tried to move in on Bok’s profit, he got creative by adding lemon juice and eventually sugar to the mix. The result of this innovation? Sales soared. Lemonade stands continue to be a popular summer pastime for burgeoning entrepreneurs, and there are a few things we can learn from these humble business endeavors.
When Ann Handley’s daughter and her friend opened up a lemonade stand, they found a way to connect with their demographic. The location of the stand was frequented by many French-speaking Canadian customers, and since the friend was born in Montreal and spoke French, the girls greeted each customer in English and French. More conversation makes more sales.
ASK FOR REFERRALS.
BE ADAPTABLE.
Megan, kid entrepreneur and owner of “Dr. Megan’s Mad Mango Lemonade” in Louisiana, knows a thing or two about the value of word-of-mouth marketing. Megan makes sure customers have an easy time spreading the word about the refreshing lemonade. In her second summer running the stand, Megan says, “I advertised through Facebook and word of mouth. I created my own business page. I shared it with friends, family, and the community. ArkLaTex Horse Rescue advertised my stand, and I posted advertisements to many local Facebook groups as well.”
Warren Buffet has had business on the brain since birth. During his childhood, when he noticed that a friend’s house got more foot traffic than his did, the future tycoon moved his lemonade stand to the prime realty. Buffett obviously benefited from this innovation; the jury is still out on his friend.
FINISH THE SUMMER WITH A FAMILY CAMPING ‘TRIP’
Summer is drawing to a close, but there’s still time to make some great memories. Camping trips are a summer staple. Fortunately, you don’t have to drive hours into the mountains to find the perfect campsite. Your backyard is right there waiting for you! Here are a few tips to help your family say farewell to summer with a perfect backyard camping trip. Your back door is literally a few yards away, which can be great in the event of an emergency. But if the kids are running in and out of the house all night long, they might end up deciding they’d rather be inside playing video games after only an hour. Be sure to pack everything you would need if you were really going into the woods for the night so no one is tempted to go back inside. This means tents, sleeping bags, flashlights, PACK FOR AN AUTHENTIC EXPERIENCE.
pajamas, books, binoculars, a compass, water bottles, and a cooler of food with snacks and dinner. Treat this like a “real” camping experience right from the beginning!
— that is, until they actually have to sleep. After stargazing, some kids will want to stay up all night whispering and giggling in the tent, and that’s great! But other kids might decide they’d rather sleep inside, and that’s okay too. Your camping trip isn’t a failure because everyone spent the night in their own beds. It’s not about where everyone sleeps; it’s about how much fun your family had together before bedtime. The best part of backyard camping? It doesn’t take a lot of planning. Just grab your gear and your family and hike out into the great backyard.
FIGURE OUT THE CAMPFIRE.
Don’t have an in-ground fire pit? No worries! You can still enjoy hot dogs and s’mores with a charcoal grill or a store-bought fire pit. If you have enough room in your backyard, you could even try building a bonfire. Just make sure to check your city ordinances and get any necessary permits first. You can find advice for building the perfect campfire at REI.com/learn/expert- advice/campfire-basics.html.
REMEMBER: IT’S OKAY TO CALL IT A NIGHT.
For kids, the most exciting part of camping in the backyard is getting to sleep in a tent
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