WHEN LIFE GIVES Y 4 Business Lessons From Young Entrepreneurs
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.
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. BE ADAPTABLE. Warren Buffet has had business on the brain since birth. During his childhood, when
GO ABOVE AND BEYOND FOR YOUR CUSTOMERS.
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.
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