Depending on who you ask, 80 to 90 percent of startups fail within the first five years of operation. While new businesses have always had high failure rates, entrepreneurs do not have to resign themselves to failure. With the right support, businesses can avoid common pitfalls and achieve exceptional growth. Business leaders and innovators like Luke Lazarus are changing the game for startups everywhere.
How Serial Entrepreneurs Can Make a Difference
In most industries, new business fail at an alarming rate. Serial entrepreneurs have a stunning capacity for doing the exact opposite. While other startups close and go under, serial entrepreneurs achieve success by creating a string of profitable companies and selling them to investors. These entrepreneurs are able to achieve stunning profits by knowing how to navigate the business world.
Many serial entrepreneurs create a business, sell it and create another business right away. Other serial entrepreneurs sell multiple businesses for a profit and retire. Luke Lazarus is a rare unicorn in the world of serial entrepreneurs. Instead of just making another business, Lazarus has devoted his time and energy to helping other entrepreneurs succeed. His goal is to put his knowledge and experience to work in guiding startups along the development pipeline.
The Story Behind Luke Lazarus
When Luke Lazarus was born in Melbourne, Australia, no one expected him to grow up to become a famous entrepreneur. The first sign of his future greatness came when he was just 8 years old. At that time, he started his very first business. Because of his academic success and business acumen, Lazarus was recruited by universities from around the world. While he had his choice of Ivy League universities and full-ride scholarships at Division I colleges, Lazarus decided to remain closer to home. Ultimately, he graduated from the Melbourne Business School with his master's in business administration.
Once he finished college, Lazarus devoted the next decade of his life to developing four different companies. Each company grew rapidly and was sold for a profit. After achieving such business success, Lazarus was at a loss. Should he continue creating businesses over and over again? Was it time to just retire?
Ultimately, Lazarus decided to take a completely different path. Because of his financial position, he could do anything he wanted with the rest of his life. Earning money was no longer a consideration. Because of his passion for business, Lazarus decided to spend the rest of his life helping other achieve their dreams. Instead of adding millions of dollars to his bank account, Lazarus chose to devote his energy to providing startups with elegant solutions.
Lazarus Helps Startups Grow to Fruition
Today, Lazarus uses his skills as a business consultant. While some business consultants tell people what they want to hear, Lazarus has a rigorous style that emphasizes data analysis and systems. He works to forge emotional relationships with the stakeholders and entrepreneurs in each organization.
When it comes to running an organization, being talented is not the same thing as having the right skills to actually run a business. Unfortunately, this is an extremely common problem for startups. Almost no one possesses all of the skills necessary for accounting, business management, inventing new processes, training employees and negotiating with vendors. Because of this, the best entrepreneurs in the world know when to let someone else take over.
Lazarus emphasizes this approach during his business coaching and consultation. He helps startups develop their operations in a sustainable way by supporting skill development. In addition, he helps entrepreneurs understand how angel investors and venture capitalists work. Currently, there is a mismatch between what entrepreneurs think investors want to see and what investors actually want to see. Lazarus helps entrepreneurs understand the kind of brand messaging, financial skills and business plans that angel investors want from a potential investment.
Ultimately, Lazarus helps startups remove stumbling blocks that are in the way of their success. He helps them learn how to present their company to angel investors and how to secure adequate financing. Through powerful messaging and a nuts-and-bolts approach to operations, Lazarus helps each business achieve its true potential.