Transforming the legal industry with LegalBreeze
Old Pueblo, New Economy
English - December 24, 2020 03:46 - 44 minutes - 40.8 MBEntrepreneurship Business Investing entrepreneur arizona economy tucson mexico millenials pima sonora Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Welcome to OPNE: Investor Corner where we learn from wise and insightful investors like Dr. Marty Fox.
Next Episode: The art of startup valuations with Brian Ellerman
The key lessons covered in this episode are:
Your go-to-market plan will be wrong: If you operate with this belief, then it’s critical to build a learning engine to find a beach-head and ultimately a G2M strategy that works. Legalbreeze has built a learning engine that allows them to review customer data and insights from experiments they run every 72 hours. They aspire to get this down to a 24-hour cycle which will allow them to learn three times faster.Changing consumer behavior is really difficult: Use the learning engine you’re building to measure whether behavior change is occurring with your beach-head customers as well as engage with them personally to understand why or why not. If the evidence (data + insights) from customers suggests that customers are not changing behavior then pivot to a different customer segment based on the same evidence.Explore broadly: Utilize curve-ball Experiments to help find alternative customer segments. A great example of this is Legalbreeze skipping digital marketing temporarily and handing out fliers in person to better understand customers. These guerilla marketing and face-to-face methods are amazon tools to learn lots from customers really quickly.