The Lemonade Stand (My first step into Entrepreneurship)

As a 6 year old I was always asking my mother for more money. My mother got tired of this conversation, and suggested I open my first lemonade stand. So she took me to the store, and I invested my weekly allowance in a bag of sugar and some lemonade and some drink mix. Once we got home, she showed me how to combine the sugar with the drink mix & water, and voila, I had made my first pitcher of lemonade.

Naturally, I ask my mother how this had anything to do with making money. She then suggested that I go find the card table in the closet and set it up at the end of our drive. She then suggested that I make a big sign out of cardboard and attach it to the table. I did: Lemonade 10 cents!

Well my first Lemonade stand earned me $2.70. That was a whooping amount for a 6 year old. I would like to say that I invested the profits in more sugar and drink mix, but being a kid I took my profits and bought a candy bar and a drink at the local convenience store.

I learned that day that to buy what you want, you need to earn the $ first, and not just ask for a handout.

Scott Rulon runs Tax, Accounting, and Financial Advisory Business in Phoenix Arizona. He has been married 25 years to the woman of his dreams: Lisa.