Comments on: How I Learned Everything About Business By Owning A Lemonade Stand http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/ My Business and Financial Freedom Journey Tue, 07 Feb 2012 03:50:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Investor Junkie http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-3780 Investor Junkie Thu, 05 Aug 2010 17:22:01 +0000 http://investorjunkie.com/?p=1528#comment-3780 Just saw this news item: "Oregon shuts down 7-year old's lemonade stand in the name of public safety" <a href="http://www.oregonlive.com/portland/index.ssf/2010/08/portland_lemonade_stand_runs_i.html" rel="nofollow">http://www.oregonlive.com/portland/index.ssf/2010...</a> Does a $120 fee make food safe? I think not! Just saw this news item:

"Oregon shuts down 7-year old's lemonade stand in the name of public safety"
http://www.oregonlive.com/portland/index.ssf/2010…

Does a $120 fee make food safe? I think not!

]]> By: Fancy http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-278 Fancy Fri, 12 Feb 2010 23:43:53 +0000 http://investorjunkie.com/?p=1528#comment-278 Great post! I actually started selling candy as well. I didn't have a sweet tooth when I was small, so the day after trick oo treating, I would take all of my candy to school and sell it. No one ever said I couldn't do it. The teachers knew about it. I also remember doing "lay a away" plans..a kid promised to pay me back the next day and never did...My first "problem." I also had a sticker collection and decided to start selling my stickers in school. Soon after, another girl in the class started selling her collection, too. I remember being upset about this, but I had more customers b/c i had better stickers. I then started selling my personal things to my little sister. Whenever she would get gift money, I would show her my portfolio and try to sell her as much as i could. she was easy to sell....the ironic part is that i am now a sales person and i hate it....i am currently looking into starting my own business. Great post! I actually started selling candy as well. I didn't have a sweet tooth when I was small, so the day after trick oo treating, I would take all of my candy to school and sell it. No one ever said I couldn't do it. The teachers knew about it. I also remember doing "lay a away" plans..a kid promised to pay me back the next day and never did…My first "problem." I also had a sticker collection and decided to start selling my stickers in school. Soon after, another girl in the class started selling her collection, too. I remember being upset about this, but I had more customers b/c i had better stickers. I then started selling my personal things to my little sister. Whenever she would get gift money, I would show her my portfolio and try to sell her as much as i could. she was easy to sell….the ironic part is that i am now a sales person and i hate it….i am currently looking into starting my own business.

]]> By: The Katana: A Week Long Celebration of Love | Financial Samurai http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-204 The Katana: A Week Long Celebration of Love | Financial Samurai Sat, 06 Feb 2010 17:17:37 +0000 http://investorjunkie.com/?p=1528#comment-204 [...] Paul highlights the one thing I can’t agree more on if you want something bad enough.* “How I Learned Everything About Business By Owning A Lemonade Stand” from Investor Junkie who is hurting The Samurai Fund with Lumber Liquidatos (his initials)!* [...] [...] Paul highlights the one thing I can’t agree more on if you want something bad enough.* “How I Learned Everything About Business By Owning A Lemonade Stand” from Investor Junkie who is hurting The Samurai Fund with Lumber Liquidatos (his initials)!* [...]

]]> By: Investor Junkie http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-197 Investor Junkie Sat, 06 Feb 2010 00:27:07 +0000 http://investorjunkie.com/?p=1528#comment-197 Heh FS. No but a good idea! I'll have to tell my children to do this! Heh FS. No but a good idea! I'll have to tell my children to do this!

]]> By: Andrew A. Sailer http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-194 Andrew A. Sailer Fri, 05 Feb 2010 23:22:40 +0000 http://investorjunkie.com/?p=1528#comment-194 Good Information. Good Information.

]]> By: Financial Samurai http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-193 Financial Samurai Fri, 05 Feb 2010 22:59:38 +0000 http://investorjunkie.com/?p=1528#comment-193 You ever spike the lemonade to get the customers to come back for more?? You ever spike the lemonade to get the customers to come back for more??

]]> By: Investor Junkie http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-177 Investor Junkie Wed, 03 Feb 2010 12:42:35 +0000 http://investorjunkie.com/?p=1528#comment-177 @Money Funk: Heh The tough part (for me also) is deciding on what specifically to do. Being a "jack of all trades" business usually doesn't do well in this day and age. I would define what IS and what ISN'T your business. @Money Funk: Heh The tough part (for me also) is deciding on what specifically to do. Being a “jack of all trades” business usually doesn’t do well in this day and age. I would define what IS and what ISN’T your business.

]]> By: Money Funk http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-172 Money Funk Wed, 03 Feb 2010 04:12:20 +0000 http://investorjunkie.com/?p=1528#comment-172 I used to buy those hot cinnamon toothpicks (0.25) from 7-11 and resell them to my friend for double the profits (0.50). They were always a big hit. Hopefully, that is an indication that I will be highly successful when I figure out what the <i>heck</i> it is I want to do in my self made business. ;) I used to buy those hot cinnamon toothpicks (0.25) from 7-11 and resell them to my friend for double the profits (0.50). They were always a big hit. Hopefully, that is an indication that I will be highly successful when I figure out what the heck it is I want to do in my self made business. ;)

]]> By: Monevator http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-155 Monevator Sat, 30 Jan 2010 10:53:43 +0000 http://investorjunkie.com/?p=1528#comment-155 It's incredible how many entrepreneurs begin their business lives in school doing little businesses. Buffett, Branson... Monevator... ;) I used to sell candy which I stored in the inside of a huge padded jacket when I was ten or eleven years old, but I had to stop when the teachers thought I was selling drugs! It’s incredible how many entrepreneurs begin their business lives in school doing little businesses. Buffett, Branson… Monevator… ;)

I used to sell candy which I stored in the inside of a huge padded jacket when I was ten or eleven years old, but I had to stop when the teachers thought I was selling drugs!

]]> By: Investor Junkie http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-152 Investor Junkie Sat, 30 Jan 2010 01:56:35 +0000 http://investorjunkie.com/?p=1528#comment-152 @Evolution Of Wealth: Ha! No I didn't see that article. I subscribe to Seth but don't always read it. That's some lemonade stand! Does it have running water and electricity? :-) That's some great parents helping them. @Evolution Of Wealth: Ha! No I didn’t see that article. I subscribe to Seth but don’t always read it. That’s some lemonade stand! Does it have running water and electricity? :-) That’s some great parents helping them.

]]> By: Evolution Of Wealth http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-150 Evolution Of Wealth Sat, 30 Jan 2010 01:45:28 +0000 http://investorjunkie.com/?p=1528#comment-150 Did you see Seth Godin's post in regards to lemonade stands? http://sethgodin.typepad.com/seths_blog/2010/01/the-lesson-from-two-lemonade-stands.html It's amazing what people can learn from something that seems so simple? Did you see Seth Godin’s post in regards to lemonade stands? http://sethgodin.typepad.com/seths_blog/2010/01/the-lesson-from-two-lemonade-stands.html

It’s amazing what people can learn from something that seems so simple?

]]> By: Investor Junkie http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-146 Investor Junkie Thu, 28 Jan 2010 14:22:11 +0000 http://investorjunkie.com/?p=1528#comment-146 @Aaron @ Clarifinancial: The mom grounded him for a month!??! For that?? I wouldn't do that at all, but OK maybe the mother should have done a week. That's a sure way to put a damper on his enterprising ideas. I would say go around the neighborhood instead. Yea also the point I'm also trying to convey is life's lessons about money and entrepreneurship are learned at a very early age. It's something that should be nurtured, not punished. I going to write a few blog posts about what I want to teach to my children about money. Hopefully within the next few weeks. I can't wait until my children go to school, and the issues I'll have with their teachers and their ideas. School is usually about sit down, shut up and conform. Though you are correct he should follow the school's rules and the school should have done what they did. The lesson I would teach is what's taught in school doesn't necessarily reflect what happens in the real world. @Aaron @ Clarifinancial: The mom grounded him for a month!??! For that?? I wouldn’t do that at all, but OK maybe the mother should have done a week. That’s a sure way to put a damper on his enterprising ideas. I would say go around the neighborhood instead.

Yea also the point I’m also trying to convey is life’s lessons about money and entrepreneurship are learned at a very early age. It’s something that should be nurtured, not punished. I going to write a few blog posts about what I want to teach to my children about money. Hopefully within the next few weeks.

I can’t wait until my children go to school, and the issues I’ll have with their teachers and their ideas. School is usually about sit down, shut up and conform. Though you are correct he should follow the school’s rules and the school should have done what they did. The lesson I would teach is what’s taught in school doesn’t necessarily reflect what happens in the real world.

]]> By: Aaron @ Clarifinancial http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-145 Aaron @ Clarifinancial Thu, 28 Jan 2010 13:51:41 +0000 http://investorjunkie.com/?p=1528#comment-145 I never did the lemonade stand thing, but I did sell wrapping paper door to door for my orchestra, collected canned foods for Scouts and learned the lessons of competition, perseverance, and getting things done in both of those organizations. Kids need to learn the value of working to get what they want and making transactions. I see too many who just sell to their families when their fund-raisers come up instead of beating the pavement and learning a lesson. I agree with you - I probably wouldn't have my business without those experiences. Your story makes me think about a friend's son who recently was "caught" selling candy bars at school for $2 a piece. He was disciplined at school because you are not allowed to sell on school property (or something), but then his mom grounded him for a month and took away his video games. I was trying to explain to her that it was great he got the concept of scarcity and supply demand at such an early age. She could have praised his enterprising nature while explaining he has to follow the rules instead. I never did the lemonade stand thing, but I did sell wrapping paper door to door for my orchestra, collected canned foods for Scouts and learned the lessons of competition, perseverance, and getting things done in both of those organizations. Kids need to learn the value of working to get what they want and making transactions. I see too many who just sell to their families when their fund-raisers come up instead of beating the pavement and learning a lesson. I agree with you – I probably wouldn’t have my business without those experiences.

Your story makes me think about a friend’s son who recently was “caught” selling candy bars at school for $2 a piece. He was disciplined at school because you are not allowed to sell on school property (or something), but then his mom grounded him for a month and took away his video games. I was trying to explain to her that it was great he got the concept of scarcity and supply demand at such an early age. She could have praised his enterprising nature while explaining he has to follow the rules instead.

]]> By: Don@Moneyreasons http://investorjunkie.com/1528/how-i-learned-everything-about-business-by-owning-a-lemonade-stand/#comment-140 Don@Moneyreasons Tue, 26 Jan 2010 17:01:26 +0000 http://investorjunkie.com/?p=1528#comment-140 My son and daughter have put out a few lemonade stands too. We don't get much traffic on our street, but my son does okay. It's funny watching him ride on his bike up and down the street yelling "Lemonade for Sale". I bet the neighbors love that, great effort on his part though! I hope he learns the same lesson you did as a child. Both my dad and grandfather owned their own businesses (furniture store and commercial construction company), I unfortunately didn't go down that route. I wish I had... Hopefully, my son will pick some of the drive from my dad (my grandfather is deceased). My son and daughter have put out a few lemonade stands too. We don’t get much traffic on our street, but my son does okay. It’s funny watching him ride on his bike up and down the street yelling “Lemonade for Sale”. I bet the neighbors love that, great effort on his part though!

I hope he learns the same lesson you did as a child. Both my dad and grandfather owned their own businesses (furniture store and commercial construction company), I unfortunately didn’t go down that route. I wish I had… Hopefully, my son will pick some of the drive from my dad (my grandfather is deceased).

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