‘Don't micro manage.’
Legal OS is building the world’s first code-based library of legal knowledge. This library will be accessible to law firms and legal tech providers, enabling both to offer more intelligent, usable legal solutions. The Legal Tech startup was founded by Lilian Breidenbach, Charlotte Kufus and Jacob Jones in 2017. In the following article the three founders share their insights and biggest learnings about building a business in Legal Tech.
‘It's still early days at Legal OS and we definitely don't always manage to follow all of these tips. But here are our ten big learnings.’ Lilian Breidenbach
#1 Empower competence. In the early days there is a tendency to want to do everything together. Take responsibility and be independent. Things will get done quicker and you will learn more.
#2 You win some you lose some. Taking risks is hard. Try not to shun failure. It happens, you learn, you move on. Playing it safe kills the imagination.
#3 Don't fall in love with the solution. It's easy to think you know what the perfect solution will look like and how it will behave. But great products come from falling in love with the problem and immersing yourself in the world of your users.
#4 Be outcome oriented. Defining a roadmap of things to build is easy. Achieving a measurable impact on your users is really hard. Target outcomes, not outputs.
#5 Don't micro manage. Learning to delegate can be really hard. But it will make the company and your life better.
#6 Be playful. Try different things. Don't feel like you need to do anything in a particular way. For the first few months it's a game of experiments.
#7 Deal with equity upfront. Don't delay the hard discussions. Be honest with yourself and make a fair call.
#8 Call out inappropriate comments and behavior. Even if its small and might seem silly, say something.
#9 Investors aren't the only source of money. Tap into government grants, scholarships etc. It might be a bureaucratic pain but it's worth it.
#10 Diversify your network and your cap table. It's invaluable having a diverse group of people who root for your success and help out where they can.
You want to know more about Legal OS and its founders? An interview about their work, legal innovation and women in business will be coming up on the blog soon.