If any of you have watched the ABC show, Shark Tank and have watched any of the latest episodes then you might have seen a 10-year-old boy and his lemonade stand. If you haven’t watched Shark Tank before or watched that episode then I advise you to stop what you’re doing and GO WATCH IT! His name is Jack Bonneau and his a 10-year-old boy from Broomfield, Colorado. Jack is paving the way for kid entrepreneurs with not only his incredible lemonade stand but, his vast knowledge of the business industry! When I saw this cute little boy standing in front of the 5 biggest titans of the business industry today I immediately thought that this was going to end horribly. I told my brother that if this cute, little boy cries then I’m going to cry! Once Jack started speaking, to say I was blown away is an understatement. His knowledge, public speaking skills, just how eloquently he spoke was extremely impressive.
Bonneau came to Shark Tank to pitch his lemonade stands and marketplace startups. Bonneau asked the 5 sharks for $50,000 for 10% equity in his business. He highlighted how other kids could start their own entrepreneurial journeys. Bonneau shared ways that kid’s like himself, could operate drink stands or marketplace locations, all the while learning about business strategies, entrepreneurship, logistics, and profits starting at a young age (Shulman, 2018). After the presentation and the Sharks were able to present their offers or be “out”, 4 out of the 5 sharks decided that they were “out” because they felt he still needed to grow the business and more importantly grow and focus on his education career since he is 10-years-old. Which is malarkey! Mark Cuban said and quote, “Jack you’re incredible! I mean one of the reason’s I do this show is to inspire kids like you. I hope my kids and millions of kids watching, can turn what they see into a dream and, from a dream into a real company. You know, I started my first company when I was 10, so I definitely love what you’re doing. The challenge is, there’s millions of kids who might want to do the same thing. I don’t know if you can manage it all…you haven’t really taken it to that point to demonstrate that you can support them outside of Denver. And, so while I applaud you, I have to say I’m out”. By this point, you’re probably saying, “Kori, just tell us what happened!!!”. Well at the end of all 4 sharks being “out” one of the Sharks, Chris Sacca offered Jack Sacca a $50,000 loan at 2% interest which Bonneau accepted the loan. What bother’s me with Mark Cubans response is that he even said that he started his business at the age of 10! And, questions whether or not Jack can support kid’s who want to participate in the Lemonade stand outside of his home state. For starters Mr. Cuban, Lori Greiner, and Kevin O’Leary (aka “Mr. Wonderful”) Jack is 10 and only started this in the comfort of his home state, he hasn’t been given the chance to see if he can take this business farther than Denver. Secondly, you better applaud this kid because he’s so incredibly sharp. Yes, he is 10 and should focus on school, but why judge a kid for going after his dream and providing that same dream to other kid’s? He’s doing what most of you did at his age like Mark Cuban. Also, to say “there’s millions of kids who might want to do the same thing. I don’t know if you can manage it all” is false because it’s not just a lemonade stand, it’s business education strategies incorporated with in-person training and help with Jack, himself.
People say to go after what you believe and are most passionate about no matter how old you are, what stages of life you’re in, and no matter what anyone says’s or thinks! Well, I sure hope to see Jack Bonneau’s Lemonade stands in Charleston, South Carolina in the following year’s to come and to have him prove all the other shark’s wrong. You go, Jack and keep doing you because you’re crushing it at life…more than I ever have!!