Why does the business world need consultants? To start, most businesses, 90 percent of them, don’t last more than a year after startup. Nevertheless, some businesses move past this statistic and do very well and are even selling later on for millions?
Any knowledge and experience gained from these successful outcomes can be applied to further ventures. This is called serial entrepreneurialism. And people who can do this can spot what others aren’t doing to get their businesses off the ground.
One such case is Luke Lazarus. He’s made entrepreneurship a lifestyle for much of his life. He started his first business in Melbourne, Australia at just eight years old. It didn’t go amiss to get straight A’s in high school either, and he excelled in sports. His record of performance caught the attention of universities based in Australia, and he was even offered full scholarships. However, he chose to stay at home and earn his MBA at Melbourne Business School.
In a period of just 10 years after graduation, Luke proceeded to found four companies. His skills and abilities showed, and Luke wound up selling one of the companies for millions. He was financially independent by 35.
At that point, making money no longer served as a purpose for applying his skills to business. Upon review, Luke found personal value in bringing his experience and knowhow to assisting other business ventures and realizing entrepreneurial dreams.
Where previously his work to create connections was the most notable aspect, it was at this point where Luke’s direct business skills came to the fore. He noted that talent doesn’t travel on its own without any real skills in how to implement it. This meant an honest approach with new clients and a clear appraisal. What he found lacking the most in new clients was an understanding of finance and creating a brand message. Read more: Luke Lazarus Helps Companies Go From Zero to IPO | Dougsandler and Luke Lazarus | Business
This included knowledge of venture capitalism and how to speak to angel investors, without which a company won’t be able to gain capital at the scale of mid-sized corporations and become saleable. He found many expectations ran in contrast to this and persisted on the idea that capital simply existed to be tapped into. As well, Luke found that self-financed startups are rare and won’t survive without knowing how to gain interest with angel investors.
Luke Lazarus’ work has consisted of addressing these questions and conveying his findings. He has found that new clients need to have a clear idea that can be communicated quickly and immediately, and that they need to know how to develop it into a company that speaks to venture capitalists.
This involves moving past simply the services offered and onto understanding how they meet a customer’s needs and how they help improve a situation, thereby making a startup a contributor and a force for change in the world.
Learn more about Luke Lazarus: