I take that to mean you went to properties/permissions, and set it as an executable program. When you clicked on it, nothing happens, is that right?
If it is, the next part is going to depend on how handy you are with the command line. Open a terminal where the executable is. I'm not sure if lubuntu has an 'Open terminal here' option or not, that would be easiest to use, other wise open the terminal and type the path to it like
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cd /home/kresten/Desktop/folder_Exe_Is_In
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./installerName
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sh./installerName
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sudo ./installerName
Minor errors are no big deal. Show stoppers would be missing libraries, not being able to find the path to specific .so files, etc.
Hope that helps.