Recognizing the Puzzle
Luke Lazarus enjoys an excellent business puzzle because running a startup business is like a puzzle in many ways.
There is the problem to be solved, the person with the right mindset and ability to solve the mystery, and the solution that takes little time and skill or a high level of expertise and experience to answer.
A part of puzzle-solving, problem-solving in business, is using one’s reason in narrowing down or discovering traces fo the solution.
Pieces of the Puzzle
While customer to the business relationship is much like the puzzle about the puzzle solver, the startup business needs to have its business story right because this is the only way to reach the customer who comes to the market seekings value.
Luke Lazarus knows that it is not an easy solution; that is, how to reach the consumer and their held values, but that relationship needs to be made.
Luke Lazarus spends much time with his startups in figuring out what is the amount that underly their business plan and what kind of customer would be attracted to their service or product.
According to Luke Lazarus, there is an economic symbiosis that needs to be communicated between the consumer and the startup business, and when those values are shared and understood, an emotional connection is made.
An emotional connection is somewhat like a utilitarian friendship, unlike a real friendship, one of utility arises when one friend forms a psychological link with another when a shared value of service is shared like each likes cupcakes or cookies. As long as you can get a cookie or cake from the other, you are satisfied.
Solving the Puzzle
According to Luke Lazarus, it goes deeper. The consumer needs to be satisfied at the value level of the relationship with a business product to connect more profoundly, and it brings more value to the product in its turn.
One example Luke Lazarus uses is the purchase of a back yard canvas. The consumer sees that the art is less expensive than its competitive brand, but more importantly, is advertised as “brings the family together,” “stay cool with friends on a picnic,” “bring warmth to a cold winter day;” lastly, “guaranteed to last for many years to come.”
In other words, Luke Lazarus instructs his startups to aim for reaching the deeper values in the consumer, which they share with the consumer.
Career and Contribution
Luke Lazarus is an Australian Business Leader from Perth. After many years of schooling and receiving an MBA from the well-known Business Graduate Program at Melbourne Business School he was successful in launching his first four businesses which he received an undisclosed amount after he sold them and chose to continue his career as a consultant in Australia rather than retiring to the Caribbean and spent his life in a beach in a bungalow under the Caribbean Sun.
His next business venture was a newly formed way to assist startup businesses that needed solutions in the early stages of development.
Related: Luke Lazarus | F6S
He began his Australian consultancy in 2013 and has since helped solve hundreds of business problems and thereby getting startups back on track for their future success. One startup he helped went from nearly zero to launching, on a major stock exchange, their IPO.
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