You don't need an exit strategy with legaltech entrepreneur Matt Spiegel
Matt Spiegel is a licensed lawyer and serial entrepreneur. His first tech startup was called MyCase, a SaaS product that, “keeps all of your important case details — documents, contacts, calendars, emails, tasks, invoices — in a single, organized location.”
The transition from criminal defense law to SaaS started as a “scratch your own itch” kind of thing. A typical day for Matt meant receiving dozens of calls, texts, and emails every day from nervous clients wanting updates and resolution — often while he was in court. This inspired an initial personal build that transformed into a full-fledged legal practice management platform.
Matt’s first SaaS success led to more and after some experimentation in B2C, he decided to start another B2B legal tech company, Lawmatics. In this episode of SaaS Open Mic, Matt shares his learnings and approach to building businesses.
Can thinking about your exit strategy narrow or diminish your exit strategy? Or at the very least your focus? Matt thinks so:
“Build your business as if you’re going to build this massive business that’s going to buy other businesses one day. Some entrepreneurs build a company to sell it quickly, but I feel like you don’t build a great company, necessarily, by doing that. You might cut corners if you are building to sell in a couple of years”
Matt Spiegel, Lawmatics
Head over to your favorite podcast platform or listen below. We discuss:
- From criminal defense law to SaaS: how and why Matt started his first legal tech startup
- Getting out of your comfort zone to try something new and ultimately, coming back to what you love
- Weighing the options of taking a break from entrepreneurship vs. the decision to ‘just keep firing’
- Reactive vs. proactive startup ideas
- What strategies can be used to tackle different market segments
- Understanding how customers spend and how to marry that with your product strategy
Links and Resources:
- Lawmatics
- Matt Spiegel on LinkedIn
- MyCase
- AppFolio
- Lawmatics raises $2.5M to help lawyers market themselves
- ChartMogul
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