Australian entrepreneur and consulting firm owner Luke Lazarus understands that launching a business is not easy. Operating a competitive business and turning a significant profit is even more challenging. Despite the odds against new business success, Lazarus started and operated four businesses by the time he was 25 years old. Just eight years later, he sold all four businesses and earned enough profit to retire at the age of 33. However, Luke Lazarus did not see this as an attractive or realistic option.
Instead of pursuing a life of leisure, Lazarus decided to use his success to help struggling business owners and entrepreneurs. This is how he came to start and operate Luke Lazarus Consulting in Sydney more than two decades ago.
How Luke Lazarus Ended Up in Such an Enviable Position
Lazarus has had the heart of an entrepreneur for as long as he can remember. He became a business owner for the first time at just eight years old and continued to own and operate his own businesses until he graduated from high school. Luke Lazarus felt equally driven on an academic level, earning a near-perfect 4.0 grade point average in high school.
Colleges and universities across Australia and even several from the United States tried to recruit Lazarus to attend their school after his high school graduation. Lazarus settled on Melbourne Business School where he earned a Master of Business Education (MBA). He also turned down multiple job offers in favor of pursuing his passion for business startups.
The biggest lesson Lazarus took from his schooling and years of experience as a business owner was that entrepreneurs must have a firm understanding of their mission before entering the competitive marketplace. He has delivered that same message to thousands of clients over the years.
Luke Lazarus Takes a Unique Approach When Working with Startup Clients
As the owner of his own consulting firm, Lazarus knows that new businesses do not fail due to a lack of passion or effort. He has worked with many entrepreneurs who work 16-hour days to turn their dreams into reality.
The problem is not a lack of talent or dedication either. Instead, he sees the biggest blind spot of entrepreneurs as the inability to realize that they do not know how to perform every business function required for success. He uses this opportunity to promote the value of outsourcing because having someone else complete time-consuming administrative tasks frees up time for business owners to grow their organization.
Lazarus has developed a reputation in the Melbourne and Sydney business communities as a consultant who is brutally honest yet caring and highly effective at the same time. After working with clients to uncover the best business model, he urges them to let go of their hesitation about seeking funding from venture capitalists and angel investors.
To assist his consulting firm clients with attracting investors willing to fund an unknown business, Luke Lazarus uses an IPO or acquisition model to ensure the highest possible value for his client’s organization. He places a strong emphasis on branding and how it positions his clients to start earning revenue shortly after opening their business. Lazarus also works with existing struggling businesses to determine the reasons for lack of success and turn the organization around with his proven strategies.
Luke Lazarus Comments on the Top Marketing Trends of 2020
Despite the coronavirus pandemic and the worldwide upheaval it caused last year, Lazarus notes some positive trends in the way entrepreneurs market their business. Some noteworthy developments from 2020 include:
- Instagram is now on par with Facebook for advertisements sold: Over the past few years, the social media site Instagram has caught up with Facebook with the number of ads placed and user actions taken from those ads. Lazarus predicts that Instagram will continue to grow its membership beyond the current one billion people while pushing influencer marketing as a means to connect with more prospects.
- Mobile payments: Paying for goods and services using a smartphone or tablet has become much more mainstream in the last few years. Lazarus sees this as a marketing trend that will only grow larger. The percentage of Australians who use a credit or debit card to pay for goods and services rose from 26 to 63 percent between 2007 and 2019. Mobile payment availability plays a large role in this dramatic increase.
- Voice recognition: Conducting a voice search via a personal home assistant like Google Home or Amazon Echo is becoming more common with each passing year. People also use voice recognition in their cars, on their home computers, and with their portable devices. More than 50 percent of all searches conducted in the United States involve using voice recognition technology, and Lazarus anticipates the rest of the world catching up to this figure soon.
Luke Lazarus’ Social Media Presence
Luke Lazarus loves to connect with people, and he makes himself available through numerous social media platforms for that reason. People can access his public social media profiles at the following websites:
Lazarus uses his social media channels to provide general business education, highlight recent transactions, and encourage people on their entrepreneurial journey.
For all his success in the business world, Luke Lazarus has a deep appreciation for the value of balance. He rarely wavers from his daily schedule of engaging in an early morning fitness routine before walking his dog.
Lazarus also feels it is important to spend time with friends and do whatever he can to give back to the community. As someone who grew up and attended college in Melbourne before opening his consulting firm in Sydney, Luke Lazarus enjoys giving back to the communities who showed him such great support over the years.