Startup: Building a Successful Lemonade Stand

Building a successful lemonade stand business according to two 8 year old children. Summary of their conversation:

"How do we make lemonade? Look up the ingredients." (Research)

"Let's make some first. I'll get my sister & dad to taste it." (Testing)

"What will we sell? Only lemonade?" (Product offering)

"How much will we sell it for?" (Pricing model)

"Yes & how will we get the money to buy the ingredients?" (Funding)

"What if no one is interested?" (Marketing)

"Where will we set up our stand? We need a busy location so people can see us." (Location, location, location)

"Yeah, we need a big colorful sign too with the price on it." (More marketing)

"How long will we sit there for each day? Can we stand up instead?" (Operating hours)

It was a joy to overhear this conversation. Even children understand the basics of business & at no point did they argue or disagree with each other.