Applying Lean Startup Principles to a Law Firm
June 12, 2014•33 min
While identifying a client base, deciding on office space, and making countless other decisions, assumptions are made when developing a legal business plan that are, at best, educated guesses. Many startups have decided to follow in the path of previous companies only to find that their firm does not thrive in such a structured methodology. In the incredibly complicated world of legal business, social media attorney Scott Malouf argues that the Lean Startup method provides an alternative and relatively efficient approach to identifying the specific needs of potential clients.
Lean Startup is a trial and error based business model in which a startup company makes small, specific assumptions and does vigorous testing on the results rather than depending on a big picture business plan. On this episode of The Un-Billable Hour, Christopher T. Anderson interviews Malouf about the benefits and difficulties of applying Lean Startup to law firms. New law firms can benefit by limiting wasted money, efforts, and time by truly sampling what clients might want and eliminating unnecessary services according to direct feedback. However, there may be challenges in ethical statutes surrounding lack of certain services and the ability to be transparent with clients.
Scott Malouf is an attorney who helps other attorneys turn texts, social media, and web-based information into evidence and advises in social media risk reduction. He has extensive insight into the best practices for startups, challenges that may arise, and examples of how he has personally applied Lean to his practice. He writes the Social Media Law column for the New York Daily Record and can be found on Twitter @scottmalouf.
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