Read pgs 102-118 , go to the website (use the puffin browser app if on iPad - You need FLASH to play the game) and play the game.. When you finish playing, please come back to this blog site and write about your experience and how it relates to this book :)
https://www.coolmathgames.com/0-lemonade-stand
**You may have to go through the tutorial if you are not familiar with the lemonade game!
I lowered the price of each cup and I also lowered the number of lemons and sugar in each cup and it seemed to attract people to the stand because it was cheap. It relates to this book because in one of the chapters, his dad says in a way to not rush trying to get rich because the money will come. You need products that will grab someone's attention and what they like. I had to play the game a couple of times because I ran out of items and my money was all gone so when I got a game that worked for me, I ended with $5.
ReplyDeleteAfter playing the lemonade stand game I realized it is hard to start your own business and keep a steady income during it. During the game, you would begin to start making money and then right away need to buy more supplies with the money you were making, resulting in making less money than you actually earned. This is why the book suggested not to start your own business unless you really wanted to. In Rich Dad Poor Dad, they say if you are going to start up your own business to keep your assets strong. “Once a dollar goes in, never let it come out.” Keeping your asset column strong will help bring in money to cover business expenses that you may need.
ReplyDeleteThis game really did make me have a better understanding of the book that we are reading. It shows that not every time are you going to be successful with new businesses. It took several try to even make a profit. The game is all about how everything is a factor when it comes to making money. A few in this game were the weather, the price of all the things I had to buy (sugar, cups, mix), and the price that I was selling my product at. It is important to not give up the first time also. just like in the real life, this game was all about trial and error. Patience and strategy are key
ReplyDeleteIn the lemonade stand game, you have to use the best recipe, and guess the correct amount of ingredients you will need for the next day. The game is what I assume is what it is like to run a business, making sure you have everything right, but never being certain. I am terrible at this game, simply because I will under buy one day, and the next day, I will over buy extremely. If I had to do this in order to run a business, I would need someone help me figure out how to use the past to guess on how to prepare for the next day. Once that is figured out, I'm set.
ReplyDeleteWhen I played the game Lemonade Stand, it was fun. It was, however, very hard. It challenged me to know how to budget my money that I had. It also showed that everything that has been said in the book will help you throughout life. It related to the sections of liabilities and assets as you had to spend money on the lemonade stand supplies but you made money off of the lemonade you sold. During the game, I could raise prices and lower them depending on how much I was selling and how good I was doing. It also made me think about how hard it can be to start up a new business not knowing how much supplies and money you need. It also showed how expensive it can be to start up from scratch.
ReplyDeleteAfter I played the Lemonade Stand game, I realized how hard it is to keep a business going. I struggled at the begging of the game because I was not making enough money to buy the supplies I needed in order to keep my business going. Once I figured out what my customers liked, I began to sell more lemonade and make some money. It took me awhile to figure out how to get my business going to where I was making money instead of losing money. This relates to the book because rich dad always encouraged acquiring assets and to “Mind your own business” (to work for yourself and not someone else), but he made the comment, "If you don't love it, you won't take care of it." If you are going to start up your own business, you should really have a passion for the business you are starting up because you are going to spend a lot of time and investment into building up your business.
ReplyDeleteThe lemonade stand game opened my eyes on the challenges of running your own business. It shows that it can be difficult to get your business up and running, and running at a steady pace. You have to be prepared for a low amount of customers some days, and a high amount the others. Also it shows that many things can go wrong, and that your business depends on a lot of things that you can no control. In the book the “rich dad” talks about how if everyone could do something they would, but they were not educated about money enough in order to be smart about it. This game proves that you have to be smart with your money in order to make a profit.
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