This weekend, I helped my grandkids set up a lemonade stand. It was a fun family project, but it also became one of the clearest lessons in entrepreneurship I’ve taught in a long time.
Before we sold a single cup, we sat down and built a simple Profit & Loss statement.
We identified our expected revenue, calculated the cost of ingredients, assigned labor expense, and estimated profit.
Then we went shopping, built the stand, and put the lesson into action.
By the end of the day, the kids generated more than $100 in sales and paid themselves $40 for their work.
The lesson was simple: every business—whether a lemonade stand, a glamping resort, or a major company—runs on the same financial principles.
Revenue is exciting. Profit is what matters.
Understanding your numbers is one of the most important skills an entrepreneur can develop.
Watch the full video here:
https://youtu.be/t2ksnCaBorg
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