Luke Lazarus says that when a new business opens its doors, the chances of failing are often higher than those of failing. He examines statistics from several authoritative sources and says that it is an unfortunate situation.
For example, he points out that in the first year, a new business is likely to be wiped off the market no matter how hard the entrepreneur works to keep it operational. The worst part is that even when they survive that first year, there is a 90% chance that they will not reach the fifth one.
Read more: Luke Lazarus – Medium
So, what could be the problem? Luke gives a few insights that can help new entrepreneurs to stay in business for long.
The Silver Lining That Few People Notice
The startup consultant says that even though things look meeting for most budding businesses, there is a silver lining. Most people do not see the positive side – some investors are doing great even as others bow out because of intense market pressure.
While many businesses fall off the radar in the first or by the fifth year, some surpass that limit with fantastic ease. Such businesses have been growing in number, and it is essential to find out how they make it in a world where a majority are destined to fail.
Becoming a Serial Entrepreneur
Luke Lazarus says that he considers himself a serial entrepreneur, and that is the reason he often starts businesses with ease. He defines serial entrepreneurs as investors who keep picking one piece of success after another. It may not happen as fast as they expect, but they eventually succeed in whatever they do.
Ultimately, it becomes more than mere survival in the business world because whatever they lay their hands on, they are guaranteed to succeed. These people have a lot of knowledge and skills to bypass any challenge that pushes new businesses off the market.
Using Serial Entrepreneurship Skills to Help Others
Serial entrepreneurs are the reason one needs consultancy before starting a business; however, simple it seems. Luke says that this class of businesspeople reaches a point in their lives when they become tired of succeeding. Winning becomes a part of them, and they desire something more exceptional.
At this point, they start looking for fulfillment and satisfaction by sharing their success tips. He does the same by providing startup consultancy to various companies. With his success tips, these new businesses are guaranteed to succeed. You only need to hear about the stories of the businesses that have succeeded because of his advice and guidance.
Luke Lazarus is a graduate of the Melbourne Business University, where he graduated with an MBA. He was only 24 years old when he got that achievement, and he believed that it was the beginning of great things in his life.
He quickly moved into the business world with the determination to shape it. After a few engagements, he chose to go into startup consultancy, an area where he has succeeded. Today, he is sought after by startups not only in his naïve Australia but the entire world.
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