LegalWiz is a startup founded by Shrijay Sheth. It is a Legal online firm which offers wide range of services like new company registration, trademark and other IP protection, legal document drafting, GST compliance etc.
Team of professionals at LegalWiz is committed to make procurement of professional services more simple, affordable and transparent, says Shrijay.
We at Bangalore Insider had the opportunity to catch up with Shrijay, the founder of LegalWiz and to know more about the startup, read his inspiring story.
Give a brief info about your startup?
LegalWiz is a LegalTech firm that enables startups and SMEs to remain compliant with law. We offer range of services including new company registration, trademark and other IP protection, legal document drafting, GST compliance and more. Business professional services that are commonly rendered by chartered accountants, company secretaries, tax practitioners, etc. are offered under one roof. Team of professionals at LegalWiz is committed to make procurement of professional services more simple, affordable and transparent.
What made you start your startup and what problem does it solve?
I have a strong background in LegalTech with my 5+ years of engagement with a leading US based LegalTech giant LegalZoom. When I relocated to India in 2013 and started a consulting firm, I went through the process of registering my business. I realized that many of first generation entrepreneurs in India, and mostly startups, didn’t have quality service providers within their immediate network. Also, the whole industry was fragmented in sense that most service provides were centric to a particular niche and nothing very obvious was available to get all such services under one roof, at affordable price, and with a commitment to service delivery. LegalWiz staying honest to it’s tag line, was born to bridge gaps between affordability, accessibility and transparency issues.
Tell us about yourself, your previous jobs/ventures? What were you doing before this startup?
Before LegalWiz, I worked in several capacities with some of the finest talents in eCommerce and technology industry across India and the US. I worked at companies like Qualcomm, LegalZoom, Bouqs amongst others that helped me improve as an eCommerce professional. I hold an MBA in Corporate Finance from SDSU, California and most of my 10+ years of career spent in finance, strategy and analytics at tech driven ventures.
Where is your startup based out of? Why do you think that is the best place for you?
We are based out of Ahmedabad, Gujarat. Sense of entrepreneurship is vibrant in Gujarat. Claiming it to be the best place is a little injustice to other cities and states that are also having a progressive startup ecosystem, but Gujarat is also quite up there. Also, it is affordable and talent pool is easily accessible. In fact, Ahmedabad attracts professionals from other cities of Gujarat as well as Rajasthan, making it easy to find right teammates to join the venture.
As a startup founder, what are you paranoid about? What keeps you awake at night?
There are several players entering this market with simple websites and typically with a specific regional reach, who are willing to provide cheaper services. This is a short-term threat. However, there is surely an advantage that we carry with right set of processes and technology in place, which created a greater value for our clients and help us retain them for longer.
Who are your competitions and how are you better than them?
There are several competitors, including professionals with conventional practice setup and other online service portals with similar business model. Team of professionals at LegalWiz.in thrive to provide the highest quality services. With highly customer centric service approach and technology built to scale, we are able to grow with strong word-of-mouth branding. It enables us to keep low acquisition costs. Reducing operational costs per fulfillment at scale are passed on to our clients for even better pricing without compromising on quality. While there are several other portals functional in same domain, we keep our prominent positioning with keeping ourselves highly approachable and staying away from the cookie cutter approach.
How hard is it to have a work life balance as a startup founder and how do you manage it?
I try to keep my work related pressure at workplace, so that I can freely enjoy with family and friends. That is enough to get me ready for next day’s work – one day at a time! Having said that, if you enjoy and believe in what you do, it makes it easier to deal with work related pressure. Your family plays a major role as a support system. As a hustling startup founder, you need your family to keep faith in career options that you have chosen. It is a greatly rewarding journey for some, but not an easy one for sure.
Have you raised funding? If yes, then we would like to know the details. If no then please tell us if you are looking to raise.
We are currently bootstrapped, and keeping up with a 20% QoQ growth in 2018. We will soon plan to raise funding for accelerating growth.
What’s the biggest misconception people have about you? Why do they have that? What’s the reality?
I am not very sure. Fortunately, I am perceived as an easily approachable one and so people talk things out and also confront if need be. That at least helps avoiding misconceptions. Generally, at the office also we function as a very open door policy and people at all levels feel empowered to express their opinions.
What gets you excited about this company?
As an entrepreneur for profits, my motivation is always the possibility of making LegalWiz a national brand for procuring business professional services. It surely means economic gains for everyone associated with the company, but it is also a large impact on how small businesses consider importance of legal hygiene and compliance in our country.
Tell us how a day in your life looks like? Your schedule for a day right from the time you get up till you hit the bed at night.
I try to plan my day, but with startups things change quickly. And I think nimbleness is a major plus that small businesses have in their favor. Typically, my mornings are rush to get to the office early. I spend much of my day having conversations with various team members, checking and discussing progress, new things to do, and so on. In between, I try to get some work done myself!! I feel it to be an accomplished day when I can motivate my team to take bold steps, challenge the statusquo and think progressive. That is my role in the company as someone trying to lead as part of the team. At times, I also like to spend time handling customer calls, etc. That I believe is a very critical function within the organization, and source of most vital information on where the company is trending as a brand. My evenings and weekends are typically with friends and family. I like to stay up till late, to wrap up on pending tasks for the day and time to myself.
Tell us about your team and how did you meet each other?
LW team is a carefully vetted one. Culture and personality fit is the most important thing. Most of us met via a conventional interviewing process. Entire tech and marketing was a team that I already worked with as part of my consulting company. We are fortunate to have a very low attrition rate, and many of us are with the company since early days.
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