Entrepreneur Luke Lazarus Explains Why Business Plans Are So Crucial
For the past several years, Luke Lazarus has been a business consultant who helps startup entrepreneurs. He had started and sold four successful startups himself so he decided to share his knowledge and business skills with other entrepreneurs.
He made so much money from his entrepreneurial activities that he decided making more wouldn’t ever again be his motivation. He wants to help small business owners so that they can have the same success in the business world that he has had. Read more: Luke Lazarus Helps Companies Go From Zero to IPO | Dougsandler and Luke Lazarus | Medium
The large majority of new businesses fail. Most fail in the first year and just one out of five survive five years. These are pretty grim odds. Luke Lazarus stacks the odds in his client’s favor. He gives his clients access to his business strategies including how to cut through the clutter of competing products and services.
Luke Lazarus helps his clients in many ways. The first thing he does is create a business plan. He says that a business plan that tells a story is critical. The business plan and the story of a company are essentially the same. Once successfully crafted a good business plan can be shared with all stakeholders including investors, employees, and customers.
Most new ventures fail because they don’t take the time to create a business plan with a story, he says. He creates a thoughtful business plan for all of the companies he consults for.
Luke Lazarus started his first venture after graduating from college. He built companies into ones that were attractive to larger companies in their industry. He sold each of his companies for a large profit. All four of his companies were started and sold before was even 35 years old.
Entrepreneurs across Australia have hired Luke Lazarus as a business consultant. His specialty is helping small businesses that are on the brink of failure.
He is direct with these business owners, letting them know where they need to improve in regards to business practices, operations, marketing, and other areas. He says that sugar-coating things isn’t productive and it’s better for him to spell out to his clients where they need to make improvements.
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