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
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
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!