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Showing posts from July, 2013

Financial Lessons from the Lemonade Stand

“Mommy please, can we do a lemonade stand this weekend??” said both daughter and son – repeatedly .   My husband and I gave in.   We decided to approach it as a teaching opportunity, as opposed just four hours in the hot sun – waiting, and waiting for potential purchasers willing to pay 25 cents to quench their thirst. The day became an introductory training session for the kids on sales and finances.   My husband specializes in both and me the former – so we were well positioned to convert our lifetime of knowledge into kid-friendly learning. Sales Lessons After the supplies were purchased and table and chairs in place, we sat the kids down to draw their signs.   Advertising is key to draw attention to the product.   They affixed signs to both the front and back of their stand, so both foot and auto traffic could be attracted.   They marketed their products by going door-to-door, inviting neighbours to buy their lemonade, and by jumping up and down yelling “lemonade for sale”