I’m in a unique position in the legal industry. Instead of working with one law firm, I get to work with 20.
I get to see inside and learn how they operate. I always keep this information confidential.
But it has helped me form an opinion of the legal industry that most wouldn’t believe.
I joined the legal industry in 2015, and it’s had the most profound change on my life.
That is saying a lot, as I was in the army for seven years, went through boot camp as a seventeen-year-old, and even got shot by a 5.56mm bullet.
You would think that getting shot would be more life-changing than dealing with lawyers, but that wasn’t the case.
Take risks and push boundaries
Getting shot made me appreciate life, and I wanted to take risks and push boundaries. It made me not want to waste the time I have.
The legal industry did the exact opposite. Speaking with attorneys makes you not want to try anything innovative at all.
Risk should be avoided at all costs. I have had to fight hard against what I have learned in the legal market.
I have always wanted to be a successful entrepreneur. For me, the definition of a successful entrepreneur is a company valued at over 100M.
For the first few years, I was able to play it off. I just reminded myself that most attorneys deal with problems.
If you are in court all the time dealing with problems, it makes sense that you would be risk-averse.
If your clients are always being sued and suing others because of real estate development projects, would you want to get involved in development?
The Legal Industry Changed Me
But eventually, it starts to wear on you. It seems that every time I try to do something creative in the legal market, there is non stop fighting against it.
The attorneys don’t even do a pro-con analysis, the way you are meant to in business.
If a lawyer doesn’t understand something, they assume it’s bad. Instead of taking the time to understand it, they decide to fight it.
Many legal tech companies get out of the market for this reason. Ross AI is one example.
But there are success stories as well. Clio is now valued at over $2B. But they had to fight hard against the Law Society to succeed.
Avvo is another success story that had to fight harder than they should have.
At the end of this article, I could have made a call for attorneys to be more open to innovation.
But I’m not going to waste my words. They won’t change.
Author: Alistair Vigier