This Week’s Startup: Should I Sign w/ Naitik Patel & Tej Prakash
If you’ve been listening to this show for a while, then chances are you’ve heard us stress about how important it is to get the legal side of your startup on the right tracks. If you’re worried about that side of your business, then this episode will shed some light on that very subject.
To kick things off for the Accelerate Your Startup Series 1, we are proud to bring to the show Naitik Patel and Tej Prakash, Co-Founders of Should I Sign.
Naitik and Taj have extensive amounts of experience as two of the highest paid attornies in New York and have dedicated 20 years to their profession.
During their time in their roles as corporate attornies, they were witness to a common problem that hadn’t yet been addressed.
That problem was for the startups who needed legal advice for their endeavours.
Nait and Taj undertook a lot of market research and data analysis, they noticed that it took twice as long for business owners to find the right attornies, and when they have found the perfect attornies, they will often get turned off by the price of uncertainty that comes with hourly billing which is common practice for attornies.
In the end, Nait and Taj took it upon themselves to solve the issue.
How Does Should I Sign Solve the Problem?
They decided to strip the process down and create a solution that puts the centre of attention on the client and not the attorney.
Nait & Taj addressed the pain points and worked it out from there.
Through the market place at Should I Sign, they save the clients time in the process of looking for the right attorney.
Instead of the client having to look for the right attorney, and having to go through an endless amount of procedures to decide what attorney they want to work with and who is the most cost effective, Should I Sign, simplifies the process by turning the tables.
The client tells Should I Sign what they need help with and then Should I Sign brings the options to the client.
Another great selling point which sets Should I Sign up for success is that Should I Sign is set on a fixed fee engagement, meaning that the client knows exactly how much the services of the attorney is going to cost, this shows full transparency between the client and the attorney.
What we loved about Should I Sign the most is that this is done all under one roof.
All you have to do is go to the website, sign up, get a free consultation and you are on your way.
It’s a simple to use process and helps you get what you need a lot faster than the traditional routes.
Time Stamped Show Notes Part 1
[02:45] Naitik begins to tell Greg and Brad what Should I Sign is in more detail.
[03:50] We hear how Naitik and Taj found themselves in partnership with each other and how Should I Sign was born.
[05:38] Taj reveals what their financial situation looked like when they left their careers to pursue Should I Sign.
[08:46] Taj reveals how early investors where fellow colleagues and friends who knew first hand about the issue they’re trying to solve.
[09:25] How much of Should I Sign was built before seeking early investment, was there an MVP?
[11:24] How did Nait & Taj build a team from just of an idea.
[13:55] We find out whether Should I Sign is a web service or a native mobile app.
[14:51] How did they know when the right time was to leave their successful full-time careers.
[16:58] What did their families think of their bold moves.
[19:51] Nait & Taj reveal how much they have raised in investment so far.
[20:02] What are the next steps for the pair?
[21:18] In a previous call, Nait explained why it is so important for them to maintain the level of service in a startup.
[23:40] What is the revenue model, and how did they work this out?
[25:49] Should I Sign offer a Free Consultation, how do they manage the requests for this? And is a Free Consultation essential?
[26:52] Taj talks about the next round of investment for Should I Sign? How will the money be spent?
[27:29] Where is Should I Sign’s audience? And have the guys got a plan for expansion across the world.
[29:11] Do the current clients of Should I Sign trust the process of handling their legal information online?
[30:36] What type of services do attorneys on the platform current offer?
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Time Stamped Show Notes Part 2
[35:22] Why was it so important for Nait and Taj to take Should I Sign through a Startup Accelerator?
[37:20] How did they know that Fownders was the right Startup Accelerator for them?
[38:48] What was the process when applying for the Fownders Seed2Scale platform?
[40:05] Once accepted into the platform, what are some of the first tasks that Fownders put the entrepreneurs through?
[43:27] The guys express how much fun it was to work in the Fownders office with other start-ups.
[43:55] Whats the end result with your startup after having gone through the platform?
[46:00] Can we expend a cost when taking your startup through the Fownders Seed2Scale platform?
[47:14] Taj explains what a “Convertable Note” means and what it is.
[48:23] Naitik and Taj wrap the episode up by telling our listeners where
Where to Contact Should I Sign
Facebook; Should I Sign
Recommended Resources from This Episode
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