Basic Principles of Entrepreneurial Success
Save, Share, Spend: The Principles of Success Guiding Lemon Heads
The kids that participate in Lemonade Day, also known as Lemon Heads, learn valuable information about running a business. Beyond the basics, however, Lemon Heads are also offered guidance on spending their earnings. The principle of “spend some, save, some, share some” has been a part of Lemonade Day since the beginning. Teaching Lemon Heads to save, share, and spend is the quickest way to entrepreneurial success.
Spend Some
The primary motivation behind an entrepreneur tends to be self-enrichment. Though some might see this as selfish, personal advancement is the guiding principle behind capitalism and free market enterprise. Lemon Heads get to keep their earnings and are encouraged to use a portion to purchase something they want. Giving kids the opportunity to earn their own money and enjoy the sense of accomplishment associated with spending it. Ideally, Lemon Heads set their sites on a specific purchase as part of the planning process. Having a specific item in mind also keeps focus and drive during the boring or frustrating times involved in running a business.
Save Some
Fiscal responsibility is a central to Lemonade Day’s mission. Successful entrepreneurs save a portion of their earnings. Businesses often run into unprofitable times and a wise investment, over time, can yield even greater income. Whatever the long term reason, saving is the secret sauce that builds entrepreneurs and changes destinies. An ambitious 10 year old saving $600 a year in an account with four percent interest could have as much as $8,000 by their 18th birthday.
Share Some
As a non-profit, we believe in giving back to the local community. Lemonade Day founder Michael Holthouse recently said in an interview with a Canadian radio station, “It is the responsibility of any successful business to give back to the community responsible for that success.” He followed that philosophy by starting Lemonade Day in 2007. While exact figures are difficult to ascertain, Lemon Heads have donated thousands of dollars to charities, hospitals, and organizations in their communities.
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Save, Share, Spend: The Principles of Success Guiding Lemon Heads
The kids that participate in Lemonade Day, also known as Lemon Heads, learn valuable information about running a business. Beyond the basics, however, Lemon Heads are also offered guidance on spending their earnings. The principle of “spend some, save, some, share some” has been a part of Lemonade Day since the beginning. Teaching Lemon Heads to save, share, and spend is the quickest way to entrepreneurial success.
Spend Some
The primary motivation behind an entrepreneur tends to be self-enrichment. Though some might see this as selfish, personal advancement is the guiding principle behind capitalism and free market enterprise. Lemon Heads get to keep their earnings and are encouraged to use a portion to purchase something they want. Giving kids the opportunity to earn their own money and enjoy the sense of accomplishment associated with spending it. Ideally, Lemon Heads set their sites on a specific purchase as part of the planning process. Having a specific item in mind also keeps focus and drive during the boring or frustrating times involved in running a business.
Save Some
Fiscal responsibility is a central to Lemonade Day’s mission. Successful entrepreneurs save a portion of their earnings. Businesses often run into unprofitable times and a wise investment, over time, can yield even greater income. Whatever the long term reason, saving is the secret sauce that builds entrepreneurs and changes destinies. An ambitious 10 year old saving $600 a year in an account with four percent interest could have as much as $8,000 by their 18th birthday.
Share Some
As a non-profit, we believe in giving back to the local community. Lemonade Day founder Michael Holthouse recently said in an interview with a Canadian radio station, “It is the responsibility of any successful business to give back to the community responsible for that success.” He followed that philosophy by starting Lemonade Day in 2007. While exact figures are difficult to ascertain, Lemon Heads have donated thousands of dollars to charities, hospitals, and organizations in their communities.
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