On Sunday (1 April 2018) the first April Fool joke to appear on The Time Blawg was published – Flushed for Success: Loo Law Launches.
Thanks to those who responded on social media with comments in similar ‘carry on’ toilet humour style! The original blog post has been updated to include those.
Although an April Fool joke, the blog post on ‘Loo Law’ was intended as a parable about the opportunities/dangers of legal technology start ups.
There are some serious points to be gleaned from the entrepreneurial idea by Sidney James to provide legal services in the loo:-
- Do your research thoroughly.
- What are the real needs of your customers/clients?
- Don’t be scared to try something new or to fail.
- It doesn’t have to be AI or blockchain.
- Think beyond the initial product/offering – what could come next?
- Who is going to provide the legal advice? Is a qualified solicitor necessary and how do you engage them and how/how much do they get paid?
- What are you charging and how are you collecting payment?
- Ensure you are GDPR compliant.
- Try Design Thinking.
- When selecting a business name ensure there is no conflicting existing use of it and that domain and social media names are available.
- Don’t delay acquisition of those domain and social media names.
What other points (not covered in my interview with Sidney James) would you add to that if advising a new legal technology start up?
Image Credit: Carry on at Your Convenience (The Rank Organisation)