It’s really hard to start a business that lasts for any significant amount of time. Especially nowadays, the marketplace comes up with some new idea that obliterates the business models of existing companies who then can’t compete.
It is estimated that 90% of new companies won’t make it for five years. Since these companies drive a lot of job growth, it’s a big problem for both the startup owners and people looking for a job.
Luke Lazarus is one of those rare people called a serial entrepreneur. This means he hasn’t just launched one successful startup but a few of them.
Something is going on that is more than just survivorship bias when it comes to serial entrepreneurs. It takes knowledge and skill to be a serial entrepreneur rather than just being lucky. He made so much money from selling his companies that he felt earning more was no longer a motivation for him.
He was born and raised in Melbourne, Australia. Luke Lazarus became interested in entrepreneurship when he was just eight years old. He excelled in high school and college, earning an MBA at Melbourne Business School when he was just 24 years old. He then started his first company. By the time he was 35, he had started and sold four startups.
This made him financially independent. Not caring about money anymore, he found his new motivation to be helping his fellow entrepreneurs achieve success. He’s a business consultant who focuses his efforts on startups. Read more: Luke Lazarus | Interview and Luke Lazarus | Business
As a consultant, he has helped dozens of ventures go from being a struggling new business to one that has achieved a multimillion-dollar initial public offering. Luke Lazarus is known for being direct with his clients and not mincing words. Some call him overbearing but he says that, when it comes to business, being completely realistic is a necessity, not a luxury.
He feels that he needs to be brutally realistic with entrepreneurs who are out of their depth when it comes to their knowledge and skills. They are usually very bright and motivated people but they are nonetheless completely out of their depth.
Things they often know nothing about are brand messaging, high finance, and finding investors. Luke Lazarus helps them by putting together their investor pitch so they can convince investors to give their startup money. He also makes operations more efficient and shapes up their books.
He likens pitching investors to how college athletic recruitment works. You have to completely grab the investors interest in 30 seconds or else whatever you have to say doesn’t matter.
Luke Lazarus says that meeting with venture capitalists is a lot more than just putting a speech and a Powerpoint presentation together.
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