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Where can the law firm world learn from the startup mindset?
Focus on relevance and cost efficiency. A startup is usually short on liquidity and needs to focus on the most relevant issues and the efficient usage of their funds. They would not spend money on something that they do not really need. For example, knowing this, we strive to keep our costs low in order not to be required to pass them on to our clients.
What personal advice would you give to a startup shortly before its foundation?
Delete the term “standard” from your vocabulary. The ecosystem around each startup including founders, customers, shareholders and investors, employees, advisors, and their values is individual and unique. There is simply no “one-fits-all” solution in most cases.
What excites you about the startup world?
The innovative spirit, excitement, and courage shown by founders about their project. The most fascinating part of a project is getting to know the founders with their ideas and values and to learn about their project and needs.