BY STEVEN GORDON, LEMONADE DAY NATIONAL PRESIDENT
Here at Lemonade Day, we are constantly evaluating and improving our materials and resources to help kids start a business, learn skills they’ll use for a lifetime, and help young dreamers achieve big, audacious business goals. For example, one of our assets outlines four short steps to business success:
Set a Goal
Make a Plan
Work the Plan
Achieve Your Dreams
I found this great article that outlines what you can learn from the contestants on the TV show Shark Tank. I believe it parallels Lemonade Day’s “4 Steps for Success” especially when our kids utilize all the resources Lemonade Day offers. If you’ve ever watched an episode of Shark Tank, you’ll notice those pitching the sharks present their ideas. Some do a great job. Some aren’t as well prepared. Either their pitch doesn’t resound with a shark, they are asking for a large investment with a small piece of equity, or the product or service might not be quite ready for mass marketing efforts. And while some fail to get an investment from a Shark, there is plenty of opportunity to use the experience as an opportunity to reflect and improve. Here are the highlights:
Don’t Work Alone – work in pairs, seek out mentors, find lenders
Carefully Consider How Much Money You’ll Ask For – sometimes you only need money for startup costs or a simple $40 loan for your lemonade stand that you’ll pay back with interest. Stay focused.
Find Your Formula For Success – if your product or service serves a need and you can articulate your value proposition, you’ll be successful.
Rejection is a Part of Success – use it as a learning opportunity. Some contestants on Shark Tank who didn’t get a deal on the show have gone on to be wildly successful. Always learn from your experiences.
I focused particularly on Shark Tank in this blog because the show is currently running a sweepstakes for high school students. I thought I’d share the information with my readers for you to share within your spheres of influence. This sweepstakes is open to high school students aged 13 years and up. The winner gets a chance to win a video chat with a Shark, Shark Tank gear, or the Grand Prize trip to the Shark Tank set. It requires teens to watch the show and tweet their opinion on which contestant presented the best pitch to the Sharks. The sweepstakes runs during the month of October. So hopefully you recorded the October 6 episode and will watch the remaining three shows this month for a chance to win. See the link above for the official sweepstakes rules.
Lemonade Day alumni, Mikaila Ulmer of Me and the Bees Lemonade, pitched her business on the show. At nine years old, she won over Shark Daymond John. He remains a brand consultant to Mikaila who is celebrating 10 years of business successes (and failures). She is 14 years old!
This brings me full circle to the beginning of my blog and the fact that it’s not just about a lemonade stand. It’s about having dreams and achieving dreams. Lemonade Day is here to inspire kids to be kids and to dream like kids but sprinkled throughout our lessons, is a foundation that will produce outcomes to forever change the lives of our kids.
Please share this blog with your friends, family members, and co-workers. All of us at Lemonade Day National Headquarters appreciate your support!
I welcome your comments and suggestions any time. Please email me at Steven@LemonadeDay.org.
For more information about Lemonade Day, please visit lemonadeday.org.