“However beautiful the strategy is, you should occasionally look at the results.” - Winston Churchill

Congratulations! You are now an official entrepreneur. But the journey is not over yet. It’s time to evaluate your success and reflect on your Lemonade Day experience. Have fun as you spend, save, and share.

Accounting is keeping track of how much money comes in and out of your business as you sell and buy things. It is the standard way of recording what you did so you can compare and analyze results. Doing proper accounting is important for every business because it’s the only way to truly know what you achieved. There are many things that you can track and measure, but the big question is “Did you achieve your LD goals?”

You had 5 primary goals:

  1. Profit Goals
  2. Spending Goals
  3. Saving Goals
  4. Sharing Goals
  5. Learning Goals

Be sure to record the results of your lemonade day experience. Compare what you budgeted to the actual results and answer questions like what were your hours of operation, how many cups of lemonade did you sell, did you repay your investor? Do the best you can to answer all the questions and provide accurate information. This will help you think about how you might do things better next time.

And don’t forget to tell the story about your experience and submit it to the best business contest!

Follow Lemonade Day Southcoast on Facebook for more tips, tricks, and to show everyone what you're doing to help build your small business.


Lemonade Day Southcoast 2020 is made possible by support from our sponsors including BayCoast Bank, Andrews Fruit & Produce, 7-11 Mattapoisett, Auclair’s Market, Care Free Homes, Cape Air, Muffler & Brake Complete Car Care, Mosquito Squad of Southeastern Mass, and Interiors by Paul Chaisson.

 

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