For some months my daughter has been wanting to sell lemonade from a
lemonade stand. Maybe it’s a “rite of passage” for kids. Maybe she
wants to earn money. Maybe she likes business. Maybe it’s a bit of
We were in the hot sun for 3 hours and made about $20. Not bad. Actually quite good.
Of course, if we count the time it took to get things ready (can we
call this the cost of goods sold?), such as making the lemonade and
grapefruit juice; getting the ice; setting up the cooler; staff (me and
mom), then we didn’t do well at all.
But of course this is a LEMONADE STAND and in that case we did just fine.
What did I learn about business?
Have a variety products to serve a variety of customer types
An older lady came by our stand and said she would buy from us, but
she can’t drink the acid. So she didn’t buy. In business, you need to
know when (and when not) to expand your product line to meet a variety
of customer segments.
Are you a design shop, specializing in designing clothing
accessories? Maybe you should consider designing household accessories
Who is the best person to sell
I wondered who would be the best person to sell our lemonade.
A cute, little girl with braids holding up a sign or a 30+ guy with
a sign. I think the little girl won out. Of course my daughter couldn’t
hold a sign up all day. So I held the sign up for much of the time, but
made sure she was quite visible at the lemonade stand.
In your own business, this is also so important.
Do you send 27 year old Jenny? Or 46 year old Marry? Or 45 year old
Bob. All three have their skills and talents to make the best sales for
a particular customer. There is not ONE sales person that is
necessarily the best for all times.
Of course some sales persons are BORN to sell and are overall super stars and well rounded sales professionals.
I decided to put the lemonade stand a few feet from my home, so that
we could be in a place where cars could easily drive up, drivers could
get out and make their purchase with ease.
In business location is so important. McDonald’s and other retailers
spend lots of money picking out the optimal location for their
establishments. Online, location is important as well – in the form of
search engine placement. If you are on page 5 of a search query, you’re
not going to be found. You want to ensure that when the keywords that
are important to you that are searched, you appear on the FIRST page of
results. Preferably towards the top.
In my neighborhood there area lot of garage and yard sales. Often
times, the signs announcing the sale are so small you can only see them
as your car is just passing by and then it’s too late.
Ideally the sign should be seen for several feet before you even get
to the sign so you determine if you want to slow down and turn left (or
right, etc) to go to the sale!
In our lemonade stand we made two signs. Both easily visible from several feet away! I think this boosted sales.