The Economics of A Startup
Every startup begins with a precise understanding of the economy they will be entering. This is necessary for understanding how a free market works and allows competition among its members.
But the consequences of game among different markets as well as market leaders and followers can never be predicted. If someone or some few understood this, there would be no need for competition. In a competitive environment, each business can learn things which the other competitor doesn’t have access to and gives them a competitive edge.
Further reading: Luke Lazarus | F6S
But how much does a competitive advantage alone have over different values like successful users in the market or number of patents and products? History has shown that no one is vulnerable to competition.
At any time, any company’s stocks, customers, or employees may leave and go elsewhere, go on strike, leave to join a more secure position. It seems that the number of things that keep a business in the filed of its labors speaks more about commitment than having some talent that no one else has.
Using Skills for Others
There are those few who after so many years of successful service decide to continue in service as leaders in the search for bringing those who come after them to a new level of success.
Luke Lazarus started his consultancy as a means to offer his knowledge, expertise, and insights to startups that needed assistance to bring their new services or products to the Australian consumer. Luke Lazarus uses several methods of preparing companies for future success.
- Development of a business idea
- DEveloping a Business plan
- Creating a business story
- Writing a pitch to investors
- Learning value to emotional connection works
- Remaining competitive and courageous
The above individual exercises which usually takes place in Luke Lazarus Consultancy meeting are specific methods of training and preparation for startups.
Essentially a startup is a business with a product whose values reach a consumer audience that identifies with their values and products and causes an emotional bridge to their business story.
The consequence of that passionate lays the foundation of success for the business and an opportunity for the consumer.
Market research is a necessary part of becoming a successful startup, but its reason for collecting data, but as a means to an end, which is to draw closer to the consumer that potentially shares the same values and concerns as the brand or business.
Related: Luke Lazarus Consulting – Melbourne
Luke Lazarus helps his startups to realize that no connection can take place thru data collection but thru the sharing of human interaction thru shared values.
Consumers don’t buy products as much as purchase something that adds value to their life. The social data on consumers is not an end in itself, but a bridge that can be used to meet the consumer along a spectrum of value and interest.
Luke Lazarus continues to work with hundreds of startups across Australia to achieve their goals thru offering consulting services to them at transformative junctures in their development.
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