Starting a new company seems almost impossibly difficult in the competitive market that we live in now. Some estimates say that up to 90% of new startups fail within five years of their creation. Within this sea of unsuccessful entrepreneurs, there are a select few that seem to have the golden touch.
Read more: Luke Lazarus | F6S
These people are somehow able to start lucrative businesses one after another, while reaping the rewards of each along the way. One of these talented people is Luke Lazarus.
Luke Lazarus was born and raised in Melbourne, Australia, to a middle-class family. With dreams of being successful in the business world, he started his first business at 8 years old and continued on this track ever since. He excelled in high school, achieving a nearly perfect 4.0 grade-point average as well as participating in several scholastic sports by the time he graduated.
Though he considered taking one of multiple full-ride scholarships being offered from prestigious U.S. universities, Lazarus chose to attend the Melbourne Business School.
After earning his MBA he went on to become a serial entrepreneur, spending a little over a decade creating a series of viable businesses from the ground up. He sold four of these businesses for a substantial amount of money, financially securing him for the rest of his life.
Rather than choosing to create more businesses to make more money, Lazarus realized that he felt the most fulfillment helping people reach their goals in life and business. He transitioned into becoming a business consultant, advising other startups on how to find success.
During his career, Lazarus has helped dozens of companies go from nothing to multi-million-dollar IPO’s. While his methods have often been described as overbearing, this tough-love approach has proven to be highly rewarding in the end.
Lazarus is very selective when it comes to choosing which businesses he will consult for – he generally chooses startups or struggling businesses, but a major factor is whether he sees potential in the client’s project.
He says that the most important thing to consider before even considering a business venture is to be firm and resolute in its core. He lends his skill in considering a realistic project scope while focusing on this central core.
According to Luke Lazarus, entrepreneurs should spend a lot of time thinking about their strategic vision and how they intend to implement it. The operation needs to have a sense of purpose before anything, or nobody else will believe in the product of mission of the business.
Lazarus attributes his success to maintaining structure in all aspects of his life, holding himself to a rigid and balanced daily routine.
Likewise, his approach to consulting is also highly structured. Among the functions that he assists with are shaping business operations, books, and messaging in a way that will entice venture capitalists and investors.
Related: Luke Lazarus – Medium
Lazarus also helps with creating personal and emotional connections with both customers and stakeholders, as a means to bolster the company as a whole.
In the future, Lazarus is looking forward to exploring experience economy as a new consumer trend that he can help his clients capitalize on.
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