Estimated read time: 2 mins, 50 secs
Some of the most important business lessons are taught during the most earnest of pursuits: running a childhood lemonade stand. It’s here we’re first exposed to the fundamentals of being an entrepreneur, while at the same time discovering how to manage money and serve customers well. No matter how much time passes, these lessons don’t change. They remain essential for any business-minded adult. When you master and retain these fundamentals, they will heighten your decision-making, efficiency and overall effectiveness in executing your LIMU business operations.
1. Meeting People
Just as children must be friendly and outgoing to attract customers, so must adults when introducing people to their business. When they ask questions like, “How is your day going?” and “Where are you from?,” customers see the stand as a place that’s sociable and neighborly — that means repeat business. This applies to practically any business. In the case of LIMU, sharing the Experience is a big part of building that rapport. Others relate to us through our stories; it’s how they discover early on the potential of the LIMU opportunity.
Like any business, there are highs and lows. Spending a hot Saturday behind a lemonade stand may not sound like much fun, but it’s a great opportunity to learn patience. That attribute is something that helps people learn the patience it takes to pursue long-term goals. Remaining confident in your abilities and company throughout is crucial towards staying successful. It’s about finding balance between hard work (urgency) and patience.
3. Location, Location, Location
This real estate mantra applies to businesses of all kinds; in the digital age, maybe even more so. Social media has become an invaluable resource for marketing because 81 percent of Americans have a social media profile. Meet your audience on the platforms where they live, where their attention is, where the eyes and ears are. So, it’s important to understand your town’s local market so you can most effectively scout prospects and meet them face-to-face. This makes it easier to connect on social media in order to market opportunities such as Experience parties in person or online.
4. Customer Service
Just as children use common courtesies like “please” and “thank you” when running a lemonade stand, anyone who plans on running a successful business should practice the same. Customer service can make or break a business, no matter how small or large it is. Remember to always answer all of your team and prospects’ questions and maintain a pleasant demeanor at all times. Researching and preparing for most common questions and concerns in advance will also help you stay one step ahead. The best marketing strategy ever? Care.
Even as a child, you must stay with your lemonade stand instead of running off to play with your friends. That sense of responsibility helps people grow into a responsible adult and entrepreneur. So, it’s important not to become overconfident when reaching new pin ranks and assume that you no longer have to work as hard or as often. Your business isn’t going to work if you don’t work. Remember that you are regularly breaking new people into the first few ranks in your company. You’ve got to hold yourself accountable to the fundamentals and continuously help new team members achieve 2K VIP and 3-for-Free — the two most important initial milestones at LIMU. Don’t ever think you know everything and never be afraid to continue learning.