On Sunday, you may see an unusual number of lemonade stands in your neighborhood. May 1st is Lemonade Day, a nationwide program sweeping 28 cities with 120,000 lemonade stands opening as a way for kids to learn business skills and raise money for charities. When financial journalist Maria Bartiromo discovered Lemonade Day, she offered the budding entrepreneurs important advice on running a successful business.
While her tips are directed at children selling lemonade, all should take note. The below can be applied to most companies ...
1. Don't sell yourself short.
2. Make sure you understand the market. That means don't charge too little
3. Remember there is a cost to making the drink. Know what others are charging for their lemonade so you can price it right and profit from it.
4. Make sure you make a quality lemonade. People will remember the taste, freshness and your attitude during the sale. These are the things that will make the customer come back-- quality and service and price.
5. And remember to have fun. Smile and have pride in your work! Good luck!
To hear more great tips from amazing entrepreneurs and business gurus and to learn more about Lemonade Day, click here.
Video Interviews With Maria Bartiromo:
- How Mister Softee Impacted Her Life
- The Bubble Manias of the Last 17 Years
The Weekend That Changed Wall Street
Maria Bartiromo is a highly regarded financial reporter and author. She's anchor of CNBC's "Closing Bell With Maria Bartiromo" and managing editor of "Wall Street Journal Report with Maria Bartiromo." Maria is the author of several bestselling books including Use the News: How to Separate the Noise from the Investment Nuggets and Make Money in Any Economy, The 10 Laws of Enduring Success, and her latest, The Weekend That Changed Wall Street: An Eyewitness Account.