An online platform to match start-ups and small businesses with attorneys that meet their specific needs and budget
Team 3, Cohort 1: Justin Mah, Gregg Rivkind, Matt StackLean Launchpad – Day 5January 15, 2016
Customer Interviews:Last 24 hours: 11To date: 102
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Business Model Canvas – Version 1.0
Equities
Bonds
Options
Key Partners American Bar
Association state and local bar
associations Practicing attorneys Law firms Law schools Recent or soon-to-be
law school graduates SBA Chambers of
Commerce Startup Labs and
Incubators Accelerators
Shared work space providers
Facebook, Twitter, LinkedIn
Key Activities website/mobile app to
connect lawyers and users
Matching algorithm video chat and document
sharing capabilities digital marketing
campaign Build attorney profiles
Value Proposition For Users: Digital platform to find
and hire attorneys Make the engagement of
attorneys more personal using matching algorithm
Create fee transparency Provide basic legal
information on website to educate users on a wide range of legal issues
Send targeted information on relevant court decisions, new statutes and regulations
Allow blogging/sharing of experiences online
For Attorneys: More efficient/ effective
means of client business development
Can work as an independent contractor
Collect and share user data that may be valuable to attorneys
Customer Relationships For Users: Provide fun and easy user
experience so that there are return users, upsell, cross-sell and referral opportunities
For Attorneys: Create new business
opportunities for attorneys
Allow attorneys to work as independent contractors
Customer Segments Users: Individuals Start-ups Small businesses Attorneys: Generalists Specialists
Key Resources Engineers/programmers
to build website/ app Marketing
Channels Website Mobile app
Cost Structure Website development and maintenance Marketing
Revenue Streams Freemium Usage fee Subscription Advertising
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What We Learned – Day 1
Client
Family
Friends
Attorney
Acquaintances
KEY LEARNING.
Networks engender trust.
SOLUTION
Social Media APIs
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Business Model Canvas – Version 2.0
Equities
Bonds
Options
Key Partners American Bar
Association state and local bar
associations Practicing attorneys Law firms Law schools Recent or soon-to-be
law school graduates SBA Chambers of
Commerce Startup Labs and
Incubators Accelerators
Shared work space providers
Facebook, Twitter, LinkedIn
Key Activities website/mobile app to
connect lawyers and users Matching algorithm video chat digital marketing
campaign to create network of users
Have attorneys and users create customer profiles
Value Proposition For Users: Digital platform to find
and hire attorneys Algorithm to match
user/attorney based on subject matter expertise, industry expertise, members of user’s network who have prior connection to that attorney
Create fee transparency and bidding for client
Provide basic legal information on website to educate users on a wide range of legal issues
Send targeted information on relevant court decisions, new statutes and regulations
Allow blogging/sharing of experiences online
For Attorneys: More efficient/ effective
means of client business development
Can work as an independent contractor
Customer Relationships For Users: Provide fast and easy user
experience Provide the same level of
comfort users derive from word-of-mouth referrals
For Attorneys: Create new business
opportunities for attorneys
Allow attorneys to work as independent contractors
Customer Segments Users: Individuals Start-ups Small businesses Attorneys: Specialists – by practice
area and industry
Key Resources Engineers/programmers
to build website/ app Marketing
Channels Website Mobile app
Cost Structure Website development and maintenance Marketing
Revenue Streams Usage fee – for individuals and startups Subscription – for small businesses with stable revenue patterns and
attorneys Advertising
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What We Learned – Day 2
Equities
Bonds
Options
SOLUTION
$150 per month subscription fee for lawyers and free access for customers
KEY LEARNING
Users believe fee should be built into legal fees, lawyers willing to pay up to 10% of revenue generated through the
platform
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Business Model Canvas – Version 3.0
Equities
Bonds
Options
Key Partners American Bar
Association state and local bar
associations Practicing attorneys Law firms Law schools Recent or soon-to-be
law school graduates SBA Chambers of
Commerce Startup Labs and
Incubators Accelerators
Shared work space providers
Facebook, Twitter, LinkedIn
Key Activities website/mobile app to
connect lawyers and users Matching algorithm video chat digital marketing
campaign to create network of users
Have attorneys and users create customer profiles
Social media API
Value Proposition For Users: Digital platform to find
and hire attorneys Algorithm to match
user/attorney based on subject matter expertise, industry expertise, members of user’s social network who have prior connection to that attorney
Create fee transparency and bidding for client
Provide basic legal information on website to educate users on a wide range of legal issues
Send targeted information on relevant court decisions, new statutes and regulations
Allow blogging/sharing of experiences online
For Attorneys: More efficient/ effective
means of client business development
Can work as an independent contractor
Customer Relationships For Users: Provide fast and easy user
experience Provide the same level of
comfort using social media networks that users derive from referrals from family and friends
For Attorneys: Create new business
opportunities for attorneys
Allow attorneys to work as independent contractors
Customer Segments Users: Individuals Start-ups Small businesses Attorneys: Specialists – by practice
area and industry
Key Resources Engineers/programmers
to build website/ app Marketing
Channels Website Mobile app
Cost Structure Website development and maintenance Marketing
Revenue Streams Usage fee – for individuals and startups Subscription – for small businesses with stable revenue patterns and
attorneys Advertising Marketing fee
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What We Learned – Day 3
Equities
Bonds
Options
Attorney to client mix is important to deliver our value
proposition
To test, start with a small, specialized pool of attorneys
capable of addressing a broad range of legal issues faced by startups and small businesses
KEY LEARNING
SOLUTION
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Business Model Canvas – Version 4.0
Equities
Bonds
Options
Key Partners Practicing attorneys Shared work space
providers Startup Labs and
Incubators Accelerators
SBA Chambers of
Commerce Facebook, Twitter,
Key Activities website/mobile app to
connect lawyers and users
Matching algorithm video chat digital marketing
campaign to create network of users
Have attorneys and users create customer profiles
Social media API
Value Proposition For Users: Digital platform to find
and hire pre-screened attorneys
Algorithm to match user/attorney based on network/groups, subject matter expertise, fees, location, years of experience
Provide basic legal information on website to educate users on a wide range of legal issues
Send targeted information on relevant court decisions, new statutes and regulations
Allow user review of attorneys
For Attorneys: More efficient/ effective
means of client business development
Customer Relationships For Users: Provide fast and easy user
experience Provide the same level of
trust using social media networks that users currently derive from referrals from family and friends
Customer service For Attorneys: Create new business
opportunities for attorneys
Customer Segments Users: Individuals – at a later
date; not at launch Start-ups Small businesses Attorneys: Specialists – in startup
and small business issues
Key Resources Engineers/programmers
to build website/ app Marketing Facebook, Twitter,
Channels Website Mobile app
Cost Structure Website development and maintenance Marketing
Revenue Streams
Usage fee – for individuals and startups Subscription or marketing fee for attorneys – for small businesses with
stable revenue patterns and attorneys Advertising
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What We Learned – Day 4
KEY LEARNING
Fee disclosure is required by customers while attorneys prefer to
keep this information private
To maximize the benefit of the network, good connections need to
carry more weightHave the users enter their willingness to pay while
attorneys enter their hourly rate and have the platform perform the match while keeping the attorney’s rate
private
Cross reference of networks to identify overlap and help identify a stronger connection
Allow users to search other user’s networks to see connections of clients and attorneys
SOLUTION
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Where We Ended
A more efficient and effective means of client business development
ATTORNEYS get…
Small Businesses & Startups get…• Digital platform to find and hire prescreened
attorneys
• Provide basic legal information on website to educate users on a wide range of legal issues
• Send targeted information on relevant court decisions, new statutes and regulations
• Allow user reviews of attorneys
Algorithm to match user/attorney based on • Network/groups• Subject matter expertise • Fees• Location• Years of experience
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MVP – Landing Page
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MVP – Client Preference Ranking
Your attribute rankings:
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MVP – Attorney Results
Attorney Match Strength Network/GroupCommonalities to You
Subject Matter
ExpertiseFee Location Years of
Experience
Carl Yost
10
2 CONNECTIONSNick Johnson
Ernst & Young
Brent PiazzaMiami University
Intellectual Property $400 – 500 New York City, NY 8
Leslie Smith
9
1 CONNECTION
Sophia AnwarMiami University
Intellectual Property $400 - 500 New York City, NY 6
Richie Ryan
6 No known common connections to you
Intellectual Property $500 - 600 New York City, NY 5
Rick Tatum
5 No known common connections to you
Intellectual Property $300 – 400 White Plains, NY 4
Denotes a favorite
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MVP – Selected Attorney
Carl YostNew York City, NY
MATCH STRENGTH: 10
Carl Yost concentrates his practice in intellectual property matters and related litigation. He serves a wide range of clients in areas including:• Domestic and international trademark copyright counseling• Copyright registration and service mark applications• Prosecution of trademark and service mark applications• Internet issues, domain name disputes, UDRP proceedings, and e-commerce issues• Preparation and negotiation of technology transfer, assignment, and confidentiality
agreements• Domestic and international license agreements for trademarks, copyrights, software, and
know-how
REPRESENTATIVE MATTERS• Provide counseling, prosecution, and dispute resolution in the management of a multi-
national, diversified chemical company's trademark portfolio with leading positions in agricultural, industrial, and consumer markets.
• Successfully defended Monroe Fluid Technology, a leading manufacturer of high quality specialty fluids for the metalworking industry since 1958, in a trademark, copyright and trade secrets claim brought in the Eastern District of Pennsylvania.
COMMUNITY SERVICE & AFFILIATIONS• Member of the International Trademark Association• Serves on the board of the New York Partnership for Economic Education and is also as
Regional Director of the Miami University Alumni Association
SERVICES/EXPERTISEIntellectual PropertyIP LitigationCopyrightPatentTrademark
INDUSTRIESLife SciencesEmerging Companies
ADMISSIONSNew JerseyNew York
MEMBERSHIPSAmerican Bar Assoc.International Trademark Association
EDUCATIONGeorgetown University Law Center, JDMiami University, BS
Nick JohnsonErnst & Young
BrentPiazzaMiami University
How are you connected to William?
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Our 120 Day Work Plan
Day 1 – 30
• Begin search for CTO co-founder
• Explore financing options
• Develop algorithm
• Build initial version of website to test with customers
• Acquire first users, starting with shared workspace locations in NYC
• Vet attorneys
• Begin conversations with key partners
Day 31 – 60
• Test willingness-to-pay of attorneys
Day 61 – 90
• Begin creating web content
Day 91 – 120
• Find optimal attorney-to-customer ratio
• Think about how to screen customers
• Continue to explore fee sharing arrangements
APPENDIX
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Channels, Customer Relationships and Revenue Streams
Equities
Bonds
Options
Channels:
• Website
• Mobile app
Customer Relationships:
For Users:• Provide fast and easy user experience • Provide the same level of trust using social media networks that users
currently derive from referrals from family and friends
For Attorneys:• Create new business opportunities for attorneys• Customer service
Revenue Streams:
Free for Users
For Attorneys:• Subscription fee (starting at $150)
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Hypotheses to Test
Hypothesis Test Pass / Fail Criteria
Competitors use the web and mobile apps to reach customers
• Do competitors have websites for their customers?
• Search to determine which competitors have websites and/or mobile apps
Users will engage with us if we build a web platform that is easy to use and meets their search/match criteria, has basic legal information and features attorney profiles and user feedback
• Ask users to rank order criteria used to hire attorneys
• Ask users how they would design a web platform that they would want to use
• Pass if their criteria matches our thinking and there is demand to automate the matchmaking process; fail if their view is that an automated legal search process is undesirable
Users would be willing to pay on a transaction-by-transaction basis and lawyers would be willing to pay a subscription fee
• Interview users and lawyers to see if they value the service and if so how and how much they would be willing to pay
• Desire to pay either on a per use basis or monthly subscription
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Market Competitive Analysis
Legal Marketplace
Crowdsourced Reviews &
RatingsLegal
Product Offering
FreelancePlatform
Auction
Virtual Law Firm
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Size of Legal Market in the United States
Equities
Bonds
Options$275 B
$65 B
$3.2 B
Total Legal Market
Target Market (@ 5% of Served Available Market)
Total Legal Market (Startups & Small Private Businesses)
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Project Manhattan - Type of Business
Equities
Bonds
Business/Market Type A startup in an existing market