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Lessons from the Lemonade Stand: 10 golden rules for business success

Lorena Orvananos Roqueni • May 3, 2013 at 4:10 PM

Your little one is SO ready to start her new business and put into

action this big idea that’s been in her head for a while. That itself

indicates your child is confident, adventurous and a change-maker. But

before you go any further, STOP! Not so fast. I want to share a little

secret that can be the difference between failure and success. Ready?

There are people out there who have walked the path your son or daughter

is about to walk, so don’t let him or her waste time making the same


Share these 10 golden rules successful businesspeople have followed to make it to their goal:

1. FIND YOUR PASSION. Don’t choose to start a business only for the

money. The road to making it to the top is not easy, but finding

something you love doing will make it worth it.

2. FIND A NEED, AND FILL IT. Be sure that your business gives a

service or offers a product that will satisfy a need in the market and

it’s not something that only you like. For example: You just love your

hot chocolate secret recipe, and so do your friends, but it happens to

be summer! Unless you’re planning to sell your hot chocolate on an ice

skating rink, you would do better with selling fresh lemonade.

3. BE UNIQUE. Your product or service needs to have something special

that makes it stand out from the rest; that way you’ll be confident

when competition arrives.

4. THINK BIG, START SMALL. Watch for your costs very closely. Don’t

spend money buying expensive things, be creative and always look for the

best prices. Hire people to help you only if you really need those

extra hands.

5. SET GOALS. Have a clear idea of what you want to accomplish, that way you’ll know when it’s time to celebrate.

6. HAVE A PLAN. Who, Where, When, How. I know you are dying to go out

and start your business, but believe me, having a plan will save you

time and money at the end. Think about WHO will buy from you, WHERE will

you be offering it, and WHAT will make you stand out. This is the time

to think HOW you will let people know about your business, and how much

you will need to invest.

7. GIVE A GREAT SERVICE. Above all things, people will remember how

you make them feel. When in front of a customer, always be kind, make

them feel special and always show your best smile.

8. NETWORK. When you are starting a business, “word of mouth” is a

great way to let people know you are in business. Share what you are

doing with as many people as you can: your friends at school, with your

parents’ friends, at your after-school classes and through social media.

9. PERSEVERE. Failure is part of reaching your goal, learn from your

mistakes and keep moving. Thomas Edison said, “Many of life’s failures

are people who did not realize how close they were to success when they

gave up.”

10. GIVE BACK. I leave the best lesson for last. Whether it’s your

time or money, think of ways you can give back to make this a better

world. Can you share some of the lemonade from your sale to your

neighbor who is sick? What about donating part of your sales to your

favorite charity? Try it; you will feel great!

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