Tonja Demoff shares some lessons in entrepreneurship that can be learned by children operating a lemonade stand but are still relevant in business.

1. L E M O N A D E
S T A N D
L E S S O N S I N
E N T R E P R E N E U R S H I P F R O M A

2. A T A G L A N C E
A p p e a l t o
y o u r l o c a l e
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Q u a l i t y
p r o d u c t s
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B e p r e s e n t0 3
R e d u c e
s u p p l y c o s t s
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3. APPEAL TO YOUR
LOCALE FIRST
As a kid selling lemonade, mobility isn't
something you can rely heavily on , so
you needed to target your local base
first.
The same thinking can be applied to
entrepreneurship; instead of chasing
deals and opportunities around the
globe, start locally first to save money
and make the most of your current
location.

4. HAVE A QUALITY
PRODUCT
If you want to draw in
customers, you've got to have
a product that tops your
competition.
The same goes in business. If
you want to stand out from
your competitors, you need to
offer something that they
can't.

5. STAY OUTSIDE IF
YOU WANT TO SELL
The more time that you put into your
business, the more money that you'll
make. If you have your lemonade stand
open for an hour on Saturday, you're
not going to make nearly as much
money as the kid who has his open all
day Saturday and all day Sunday.
If you want to make sales, you've got to
put the time in.

6. REDUCE SUPPLY
CHAIN COSTS
Money is made on the buy, not
on the sale. If you're selling
lemonade for $10 a cup but it
costs you $9.50 to make each
cup, your customers will be
less likey to buy and you'll be
less likely to make money.
If you can get the cost of
supply down to $0.50 each
and you drop your price to
$1.50, you've just doubled your
profits and lowered your
prices.