Business Savvy Sips

On April 15 from 11 a.m. to 1 p.m. in the Concord University Student center, young entrepreneurs ran the show with Lemonade Day.  

Lemonade Day was arranged by the Concord University Entrepreneurship club that allows fifth grade students to learn about business. During the event, the students try to sell lemonade to anyone walking by them. Members of Concord University’s Entrepreneurship club also showcased some of their own products during the event. 

People walking in the student center during the event’s duration were given fake money to pay for their lemonade. The group of students that sold the most lemonade by 1:00 were the winners of the event. 

Lemonade Day is not just a program at Concord University. It is a national initiative that is sponsored by Google and Vision Shared.  

“Youth learn the steps and planning necessary to start a business, but just as importantly, learn valuable skills such as leadership, collaboration, responsibility, and teamwork. They learn to set a goal, make a plan, and work their plan to achieve their dreams. In the process they experience a new level of confidence, and some for the first time, see new possibilities for the future” says lemonadeday.com. 

“As the Lemonade Day National Initiative states, it addresses a missing element in modern education through fun, proactive, and experiential learning infused with entrepreneurship skills. Giving an opportunity to experience the life of an entrepreneur early on can go a long way in ensuring that precocious kids realize their potential for creativity, innovation and entrepreneurship,” said Dr. Mohan P. Pokharel, Shott Chair of Entrepreneurship and Associate Professor of Business at Concord University. 

“Beyond increasing communal interaction between elementary school children and college students in the locality, the event is a microcosm of professional business situations. More specifically, members of the Student Entrepreneurship Club gain a unique opportunity to understand the centrality of customer response to effective product and service development,” Pokharel explained. 

Pokharel believes programs such as Lemonade Day will serve a valuable purpose in teaching young people skills that will serve them well in future endeavors. “Skills such as discovering the shadow-pricing of abstract arts will be exercised as students aim to strike a favorable sentiment with the marketplace and make products and services more appealing to the customer,” said Pokharel.  

The benefits don’t only apply to those who participate in events like Lemonade Day. “Additionally, the awareness the event creates might inspire otherwise reticent students who have good ideas to uncover market potential. At its essence, the aim of the event is to launch the entrepreneurial journey from an idea to an innovative product or service that commands market value,” Pokharel said.