On the outside, starting up a successful business seems straightforward. If you have a product that a lot of people like they will buy it. You will make a profit on each sale. If you make enough sales, you will generate more profits and eventually get rich.
But it rarely works that way. Every year, thousands of new businesses with great potential and products crash and burn before the first year of operation.
There are dozens of ways for a business to falter and disappear. Just one example is the failure to obtain enough start-up cash.
Capital is the oxygen that fuels the growth of a business. Even if you are making a lot of sales to many customers, running out of cash for things like raw materials, distribution, promotion, delivery, packaging and more can sink your operation. Read more: Luke Lazarus Helps Companies Go From Zero to IPO | Dougsandler and Luke Lazarus | Business
Another common cause of business failure is the lack of a formal plan to guide the operation forward. That means a comprehensive business plan that spells out short-term and long-term strategies. If you don’t have a plan, you have a plan to fail. A formal marketing plan is needed as well.
Making faulty or unrealistic financial projections is yet another factor that trips up a budding business.
Still another is the failure to have a contingency plan in the event some things don’t pan out like you predicted they would. Problems always arise in every business, no matter how well it is doing. What are your alternatives in the event the worst happens?
These are the kinds of things that marketing consultant and super successful entrepreneur Luke Lazarus helps his clients tackle every day. Lazarus has developed a reputation as someone who can take a business idea from zero to IPO with an uncanny record of success. He is among Australia’s most sought-after start-up consultants because he has proven time and time again that he gets results – period. Read more: Luke Lazarus Helps Companies Go From Zero to IPO | Dougsandler and Luke Lazarus | Business
While the vast majority of would-be entrepreneurs crash and burn with the first attempt to create a new business, Luke Lazarus did it successfully four times by the time he was 33 years old.
After he earned his MBA from the Melbourne School of Business at just age 24, he wasted no time in putting is academic knowledge to work in the real world. After launching and creating successes with four businesses, he could have retired and lived the rest of his life on the fortune he had earned.
Instead, he became a business consultant. After finding his own business success, Luke Lazarus still had a passion for taking on a project and building something from the ground up.
Helping others to accomplish this exciting venture is even more rewarding than doing it for himself, he discovered. Since establishing himself as a consultant, Luke Lazarus has guided dozens of entrepreneurs toward achieving their goals of building a new enterprise and realizing financial independence.
Luke Lazarus is the force behind a number of multi-million-dollar IPOs – and he’s always looking forward to helping create his next success story.
Learn more about Luke Lazarus: