What can you learn from running a lemonade stand? Quite a lot. At least that's what we've discovered since the launch of our Best Lemonade Stand in America Contest earlier this summer.
The entries we received showcased some very entrepreneurial kids, from Danielle and her Tiki bar lemonade stand, which she sets up during a busy surfing competition each summer, to Alanna whose sales of fresh-squeezed lemonade are helping her save for college.
So what lessons can an "old" entrepreneur take away from these youngsters? Here are a just a few things our lemonade stand contest kids learned along the way.
Have a "higher purpose" than just making money. Many of our entrants supported local and national causes through their lemonade sales--helping them promote their stands and attract customers. Sophie in Missouri raised money for people without fans and air conditioners during the recent heat wave in St. Louis, while others supported efforts close to their families, as Sienna did with her stand dedicated to her grandmother, a breast cancer survivor.
Pay attention to your appearance. Being eye catching can help make the sale. Ethan in Minnesota wears a suit while selling his lemonade, making passerbys take notice. Devin, Michael and Josh in Ohio created a stand with giant lemons reaching eight feet high to attract customers.
Teamwork can help make you a success. Any entrepreneur knows that enlisting the help of others often is the only way to reach your goals. Simon in California enlisted the help of a family friend who is an architect to help make his Hawaiian-themed lemonade stand stand out from the crowd. And Hunter in Austin had the help of three generations of his family to make his stand a success--helping him sell out in the first hour and 20 minutes that he was opened for business.
Capitalize on the opportunity. While selling lemonade was our entrants' main initiative, many sold other products to bring in extra cash. Elisa in Iowa not only supported a great cause but she complemented her efforts by selling a book of her own poetry, which by the end of four hours helped her bring in $105 for her cause.
There are more lessons to be learned from the kid-trepreneurs who entered our contest. Check them out on our recent entries page, or search them by name, state and age on our search entries page. Whichever entry you find, you're sure to be inspired by these kids' resourcefulness and their generosity.