Meet Lily, a 16 year old entrepreneur that was running Lily’s Lemonade Stand since she was merely 6 years old!
During summer weekends, Lily was out with her stand from 10 AM to 1 PM serving cold, sweet lemonade to her friends and neighbors.
Lily’s stand has been a summer hit in the neighborhood and became a summer symbol. However, what was once good pocket money now becomes a problematic heritage: Lily is on the crossroads. She could either drop the stand or see whether it can become a solid business thanks to growth hacking methodology implementation.
Lily’s first lemonade stand
Lily’s lemonade had ice, lemons, sugar and a touch of mint
Lemonade stands are not a difficult business, and this is why most children start their entrepreneurial journey with a summer lemonade stand. All you need is plastic cups, sugar and lemons! If you want to succeed though, and Lily wanted to, you need to make sure you make a difference, have a solid value proposition and what is called a product-market fit (and also, of course, great founder-market fit!). In Lily´s case, she had all of these: her lemonade has been loved by the neighbors and there were days she was selling over 100 cups per day, with a record being 131 cups sold!
Obviously, Lily loves lemonade and nowadays she keeps selling her lemonade in an updated, much more Premium way. She has her regular stand where she works on weekends from 10 to 1 PM, as usual, and she has a small table where people can enjoy lemonade and fresh fruit. She also offers lemonade to go. With this setup: is there any way to grow? Is she able to regularly sell 100 cups a day, everyday? Can she increase lemonade price? How does she scale this business?
Every year Lily was improving her lemonade according to her clients feedback
Lily knows that there is no growth without a great product, and this is why she is always trying new things with a sole rule: the taste shall always be perfect. She tried adding stevia, changing for honey and she also had a sugar free version for diabetic neighbors. She will need to do more than that though if she wants to increase prices and have a good entry level salary from her successful lemonade stand. What should she do next?
Now Lily’s Lemonade started using Hypertry in order to grow their business! You can see what goals, drivers, ideas, experiments and results she had with the tool.