Australian business consultant Luke Lazarus is helping clients navigate the world of entrepreneurship. It’s no secret that most entrepreneurs fail in the first year. 95 percent of them go out of business in the fifth year of operation. Why are the statistics so startling?
There are some major components that are not being addressed, and that is why so many fail in the process. Mr. Lazarus is willing to help these entrepreneurs start their business and help other struggling businesses flourish.
Luke founded his startup consulting firm in 2013, called Luke Lazarus Consulting. It has been growing tremendously ever since opening in Melbourne, Australia. Due to his experience as a serial entrepreneur, Luke knew exactly what struggling businesses needed to succeed.
This comes from building four successful companies and selling them all for huge profits. He also earned a executive Master of Business Administration degree from the Melbourne Business School in his home country of Australia.
One of the biggest factors that Mr. Lazarus stresses to companies is having a good business plan and a story that’s synonymous with your company. In addition to having these components, Luke does a lot of market research to make sure his clients are set up for success. Read more: Luke Lazarus Helps Companies Go From Zero to IPO | Dougsandler and Luke Lazarus | Medium
The startup consultant breaks down each company to see where improvement can be made. He looks at their daily operations, books, financial forecast, and every other part of the company. One of the major factors with failing companies is their finances.
They simply do not know how to manage this money or raise it in the first place. They may not be keeping tabs on spending, earnings, costs, etc. This is crucial to closely monitor, and Luke Lazarus is there to teach clients how to do so. When it comes to raising capital for their companies, Luke says that it is rare they use their own money.
Clients have to go to financial institutions and other places to ask for funding. This is the other part where Mr. Lazarus comes in. He helps create a story behind a company’s brand that go hand in hand. If you can’t capture a investor’s attention in a short period of time, then you will most likely not get the funding you need.
Luke works with clients to create these stories so investors, consumers, etc. are emotionally compelled to support their brand and company. Instead of just focusing on the product itself, Luke helps these companies show what their brand can do to enhance people’s lives.
Working to help clients succeed in the business world has been very fulfilling to Luke. He has to ability to build companies and make millions, but helping others is more satisfying than making a buck.
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