Did you ever sell lemonade on your street corner as a child? Perhaps you drove by one of these stands the other day and purchased a refreshing glass. These simple stands are old fashioned and fun. However, they often teach adults just as much about the principles of business as they do children. Learn more about what you can observe from these simple lemonade stands.
First, the most important aspect of the lemonade stand is the sign. Typically it says the price of each glass in bold print. In addition, it also identifies that lemonade is being sold. These two pieces of information are vital to the potential customers who will drive by. When you have a business, make sure that you invest in pertinent visuals like a customized sign to ensure your success. For example, a vinyl banner is a great way to advertise a promotion in your store. Without this visual, customers may not realize they should come inside and shop.
Next, sometimes simple is ok. After all, children everywhere make money on lemonade. They do not complicate the process by offering a variety of drinks to the drivers passing by. Why? This increases the costs of their supplies, and they probably don’t have raspberry lemonade in their mom’s cupboard anyway. Despite the lack of options, customers still purchase. Therefore, if you have a product, consider ways that you can simplify. In doing so, you might decrease your overall expenses and increase your profitability.
Pick the Right Opportunity
Furthermore, rarely do you hear about children having a lemonade stand on a cold, rainy day. Instead, they usually choose a hot, summer day to set up a lemonade stand. This is because it is the ideal time for lemonade. People are most likely going to want a refreshing beverage when it is hot outside. In business, it is important to pick the right opportunities just like the kids do with their lemonade stands. For example, a clothing company is not going to release their winter wardrobe lineup at the end of winter. It would never sell. Therefore, be smart about taking advantage of the options you have to help you succeed.
One of the greatest aspects to a lemonade stand is the enthusiasm of the kids. Their passion for the simple stand is motivation to purchase a glass. If they set up the stand and were not excited about it, they wouldn’t get nearly as many customers. The same is true in business. If you have a product or service you are promoting, you need to be passionate about it. This passion will help you in your marketing efforts, and it will allow you to succeed. If you lack enthusiasm about the product, perhaps it is not the right option. For example, if you do not like the Christmas blockbuster promotion, come up with a new one. It’s better to promote something you are proud of than to try to find passion for something you do not like.
Obviously every kid can learn something about business from his or her lemonade stand. Hopefully, you can learn something too that will help you succeed in your endeavors.