In the tumultuous world of business today, new companies have a hard chance of surviving the early stages before they are overwhelmed by the unpredictable market. Studies have shown that about 90 percent of most startups fail within five years.
The slowing growth of skilled labor jobs doesn't help this situation either. Even though the statistics are daunting, there are some talented entrepreneurs who have a remarkable track record of success with many businesses. The term for people who succeed many times in business is "serial entrepreneur." It seems evident that these individuals are successful due to their outstanding knowledge, skill set and talents. In some cases, people who succeed and attain the things that they want are motivated to share their knowledge with others to ensure that they will also succeed. One such person is Luke Lazarus.
Luke Lazarus was born in Melbourne, Australia, and he started his first enterprise at the age of 8. He has been an entrepreneur ever since then. He also performed well in high school at academics and sports. His impressive high school accomplishments put him in a good position to be accepted at top Ivy League colleges. However, despite some of the attractive offers that he received from US schools, he decided to stay in his home town to earn his MBA.
Transition To Consulting
After Lazarus graduated, he spent nearly 10 years starting up companies and selling them for large amounts of money. By the time he was 35, Lazarus was financially well off. Unlike most people who would continue building wealth the same way, Lazarus decided to go in a different direction. Given how much wealth he had made already, Lazarus felt he wouldn't need to make any more money for the rest of his life.
Lazarus was more intrigued by seeing the joy that people felt when they helped others succeed in business and life. He realized that a lot of the issues that startups experienced were problems that he had conquered with clever solutions.
Methods For Success
Lazarus developed a method of business consulting that was unique. He took an energetic approach that emphasized emotional connections among team members as much as business analysis and technological solutions. He also believed that every stakeholder in the business needs to be involved in the transformation, including customers.
Lazarus has helped over a dozen startups grow to a worth of several million and become publicly shared. His aggressive coaching style has earned him a reputation for outstanding success but also somewhat overbearing. One unique approach that Lazarus employs is to be very direct with owners when they lack certain skills. He has noted that most entrepreneurs are generally very smart and have an array of talents, but they tend to lack knowledge about gaining investors and managing large amounts of money. A lot of small companies seem to be unaware that they are under- capitalized.
Lazarus excels in one of the utmost important areas of business growth which is gaining the collaboration with venture capitalists. He has a unique and effective approach of creating attention- getting presentations to close deals with private investors. The key to a good presentation is to create a sense of purpose for the company and to show how the product or service will impact customers' lives.
When the all-important task of gaining capital for the company is done, there is still more to do in order to ensure success for a new company. It's important to hone the business operations of a company into a well-oiled machine. Improving the business process and profitability makes the company more attractive to investors and increases the company's chances for success.
Luke Lazarus is a business consultant based in Melbourne. He earned his MBA from Melbourne Business School at the age of 24. He helps new companies with business plans, investment presentations, marketing research, marketing plans and financial projections. Lazarus likes to start each day with meditation, and he mentally makes a to-do list for each day. He also likes to get in an early-morning workout before the workday begins. He finds that it helps him perform more effectively if he takes thorough notes about his meetings and to stay organized.
Lazarus says that one of the most important business trends today is providing a good customer experience with fresh ideas and an emotional connection. He feels that people don't tend to realize that there is an element of luck in business success, and it's also important to know the right people. His advice to entrepreneurs is to believe that you will succeed.
