I grew up next door to a playground just big enough for a bunch of boys to play baseball. On this particular day I set-up a lemonade stand (even as a little girl of 8 I was drawn to entrepreneurship) and watched my brother and a group of boys play their game. I noticed they were taking turns going to the corner store down the street, Boulay’s, to buy Mr Freezies (I believe they are known as Freezies in the USA), the ones that turn your mouth and lips sky blue or fuschia pink.
As I observed the boys trips to the store, brilliance struck (well at least for a little girl)…what if in addition to lemonade I upped the game and sold Mr Freezies? Would I be able to entice these boys to buy Mr Freezies from me at double the cost (yes a bit greedy) in exchange for not missing their turn at bat. Off I went, with the small proceeds of my lemonade stand to Boulay’s.
I purchased a half dozen each of the small 5¢ and medium 10¢ Mr Freezies, and a few of the larger 25¢ ones in various flavours, keeping in mind that the blue and red were favorites among them. The boys were serious about their game had no problem paying 10¢ for the small and 20¢ for the medium Mr Freezies, however 50¢ was a bit much for the large ones (I think my brother was getting dirty looks at this point) so I adjusted the price to 35¢.
Within the hour my inventory cleared and I stocked up a second time.
I don’t need to tell you this, but that day I learned a few valuable business lessons, use your network, test your market, solve a problem.
I wish Mr. Boulay was alive to read this today, I just know we would have had a few good laughs together, probably over some penny candy.