Most kids get into the entrepreneurship at an early age by either selling cookies door to door or setting up lemonade stands in front of their homes. But few have attained the success of 12-year-old Mikaila Ulmer. At a tender age, is the founder and CEO of Me & The Bees Lemonade.
According to Time, Ulmer started her business with a 1940s lemonade recipe from her grandmother that uses flaxweed and local honey as sweetener. Last year, she received a $60,000 investment from Daymond John when she appeared on “Shark Tank.”
Soon, Whole Foods saw the potential in Ulmer’s product and has signed a deal with the tween to sell the beverage in 55 stores across Texas, Arkansas, Louisiana, and Oklahoma. Though this level of success may cause other entrepreneurs to grow careless with their finances, Ulmer is making sure to take control of her business with a few simple tips.
Ulmer told CNBC that entrepreneurs should track their numbers using technology. She recommends using an online tool, such as a spreadsheet that can be shared with team members, to allow anyone involved in the business with access to the data.
The CEO said that her father has taught her to be aware of her numbers, and that putting together a budget, listing her expenses, and estimating her income is a must to succeed.
Ulmer revealed that her schoolmates often come to her asking for money advice.
“We love to come up with different ideas to make money or different ways to solve a problem,” she said.
Apart from her savvy business skills, Ulmer has gained admiration for giving back to her community and for raising awareness for an important cause. The massive decline of honeybees has raised concern even in the White House, and the young CEO has pledged to invest both her time and resources to save the bees. A portion of the profits from her sale of her lemonade is given to organizations fighting hard to save the honeybees.
With young innovators like Mikaila Ulmer at the helm of the growing kidpreneur movement, the future looks bright for aspiring young entrepreneurs in America.
For more, check out Jobs & Hire’s report on 13-year-old entrepreneur Asia Newson.
