Core Skills Analysis
Entrepreneurship
- Learned basic principles of running a small business by setting up a lemonade stand independently.
- Developed an early understanding of risk management by proceeding despite Covid-related warnings.
- Gained experience in customer interaction and sales through firsthand selling at the stand.
- Practical exposure to handling money and simple business transactions at a young age.
Social Studies / Health Awareness
- Acquired an awareness of societal challenges during the Covid pandemic as it affected her business plans.
- Recognized the impact of public health warnings on everyday activities and economic opportunities.
- Developed critical thinking regarding how external factors influence community behavior and commerce.
Tips
To further develop the student's entrepreneurial skills and social awareness, encourage her to plan another small business project that reflects ongoing current events, such as eco-friendly products or virtual sales. Engage her in role-playing activities to practice negotiating and problem-solving with customers and suppliers. Incorporate simple financial literacy exercises, like budgeting for supplies and tracking sales. Additionally, explore discussions and family projects about how pandemics impact communities, combining science, health, and economics in an experiential way.
Book Recommendations
- Lemonade in Winter: A Book About Two Kids Counting Money by Emily Jenkins: A charming story about two children who set up a lemonade stand in winter, teaching counting and basic business concepts.
- Kidpreneurs: Young Entrepreneurs With Big Ideas! by Adam Toren and Matthew Toren: An inspiring guide to help children understand entrepreneurship and spark their own business ideas.
- Coronavirus: A Book for Children by Elizabeth Jenner, Kate Wilson, and Nia Roberts: An accessible explanation of Covid-19 aimed at children, helping them understand the pandemic's effects on everyday life.
Learning Standards
- CCSS.MATH.CONTENT.4.OA.A.3 - Solve multistep word problems involving addition, subtraction, multiplication, and division to develop financial literacy.
- CCSS.ELA-LITERACY.W.4.3 - Write narratives to develop real or imagined experiences, which relates to reflecting on her sales experience.
- CCSS.ELA-LITERACY.SL.4.1 - Engage effectively in collaborative discussions including sharing ideas about a topic of interest such as entrepreneurship during a pandemic.
- CCSS.ELA-LITERACY.RI.4.3 - Explain events, procedures, or concepts in a text which parallels understanding the effects of the Covid pandemic on business.
Try This Next
- Create a simple ledger worksheet to record sales, expenses, and profits from the lemonade stand experience.
- Write a short story or journal entry from the perspective of a customer during the pandemic buying lemonade.
- Design a poster that advertises a safe and socially-distanced lemonade stand.