Luke Lazarus’ Nuggets of Wisdom on Starts up Businesses

Luke Lazarus, a consultant for startups in Australia, earned an executive MBA at an early age of 24 at Melbourne business school. He thus set foot in the business world, and by the end of ten years; he had found and sold four successful enterprises. Luke garnered experience that enables him to help struggling or new businesses to gain momentum.

Insights on Startups Businesses

In a recent interview, when asked to define a successful business plan, Luke Lazarus answers that a business plan is an essential guide for any venture. It is a tool, he says, that defines visions, limitation, and provides a financial model for any startup. Read more: Luke Lazarus| Medium and Luke Lazarus – Investing.com

A business plan is a foundation for success, he adds. It informs potential investors and partners interested in your venture as well as customers and employees. He describes it as an illustrative tale that relays facts in simple and flexible terms, which allows people to understand a venture as it grows within established plans.

When asked what he uses for market research, Luke explains that he persistently studies market fragments and influencing factors. It allows him to advise his clients on essential critical variables before launching a new venture or product. He adds that having the know-how of the growing influence of e-commerce on scalable business models helps him enlighten his clients on what to expect from prospective customers and competitors.

A Peak on Luke’s Personal Life

A typical day for Luke begins with a 10-15 minute meditation period, followed by an entire day of multi-tasking, making every minute count. He puts his day’s agenda in writing each morning to stay on track. He tries to squeeze seven minutes of the gym every day, and his favorite quote is, ‘Time waits for no man.’ He recommends the community to read Start with why by Simon Sinek.

Luke’s advice to his younger self is to let go of worry. He remembers himself as a man who envisioned big moves as part of his future, always anxious and eager to make significant moves. “I would tell my younger self,’ you got this.’” He explains that his mind was always filled with “what ifs, worries that did not serve any purpose. However,

Luke has no regrets about his youth.

When faced with failures, Luke is quick to learn from the experiences. He says that he once failed due to lack of planning. He emphasizes in believing in oneself’s success story.

It’s crucial to accept apprehension that accompanies any project and the concerns for the outcome, but self-confidence is what you must possess. “I bet on myself all the time, and that makes a huge difference in boosting my confidence,” he says.

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