52 Weeks of Hustle - The Lemonade Stand

🎙️ New Episode Alert — “The Lemonade Stand: What Scout Taught Me About Sports Business at Three and a Half Years Old” This week on 52 Weeks of Hustle, I’m changing things up a little. No billion-dollar leagues. No massive media deals. No revenue-sharing debates. Instead, I’m talking about a lemonade stand. Last Sunday, my 3.5-year-old daughter Scout set up shop at the end of our driveway for two hours. 🍋 44 cups sold 💰 $94 in gross sales 💵 $50 in costs 📈 $44 profit But what caught my attention was that she charged $1 per cup — and people actually paid an average of $2.14. That two-hour lemonade stand got me thinking: Every business is really just a lemonade stand at scale. The questions are the same. The only difference is the decimal points. 🍋 5 lessons from the stand: 🍋 Price is what you list. Value is what people are willing to give you. 🍋 Location can be more important than the product. 🍋 The second sale is easier — and more valuable — than the first. 🍋 One product creates a ceiling. A portfolio creates a business. 🍋 The face of your brand and the people behind the scenes both matter. Whether you’re running a lemonade stand, a sports team, a venue, a league or a startup, the fundamentals really aren’t that different: Pricing. Location. Retention. Portfolio. People. Sometimes we make business more complicated than it needs to be. And sometimes it takes a 3.5-year-old with a folding table and a pitcher of lemonade to remind you of that. This may be one of my favorite episodes I’ve recorded. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.