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Situation
Situation
Two lawyer acquaintances of mine had the idea to start an 'on-line lawyer office' offering some common legal processes, mainly creating legal documents in an automated way.
Goal
Goal
By a detailed research process we wanted to proof their assumption that:
1) the Hungarian users were ready for manage legal processes on-line,
2) our solution could work aligned with the Hungarian legal regulations,
3) there was accessible and affordable technology on which we could build our service.
We wanted to start with the most typical document: the Lease Agreement, and after a green-light-decision we wanted to establish a new Startup and apply for venture capital investment.
Team & Role
Team & Role
I worked with the two lawyers and managed the whole research and investment application process.
My tasks & Methods
My tasks & Methods
Process modelling
Process modelling
After an interview with the lawyers I modelled the contracting process in Miro. For such modelling I like to use the Event-driven Process Chain method from the ARIS methodology, which I learned before in previous enterprise projects.
Market research
Market research
I conducted a market research on the on-line contracting field and summarised the international and Hungarian findings, placing the Hungarian competitors on a competitor matrix.
User interviews
User interviews
I conducted user interviews about the on-line contracting willingness, mostly by relatives and friends, from different ages and financial status, and define our main persona.
Value Proposition Canvas
Value Proposition Canvas
We filled a Value Proposition Canvas using the Strategizer template to summarise our insights.
Quantitative research
Quantitative research
I did a quantitative research as well, about the assumed number of yearly Lease Agreements in Hungary and in Central Europe, to validate our monetary plans. I based my research on official statistical data and the number of rentals offered by real estate portals.
Summary
Summary
Based on the research we summarised our understandings and defined our Vision and the Problem and set up our Value Proposition, which we explained into different Use cases which could be broken down into the necessary functions of our service.
Challenges
Challenges
We realised by our research, that just creating legal documents on-line wouldn't be enough for a profitable legal business, and it couldn't be scalable enough to step into international markets, which is a main expectation from venture capital companies. So we widened our vision to an AI-based legal assistant service, and turned our focus from offering just a cheap, automated service to a wider, more personalised and more future-proof solution. The only risk was the difficulty of the Hungarian language, which could be a burden for an efficient AI solution.
So we redesigned our Value Proposition and replanned our business model and the development milestones, and I put together the necessary application for one of the Hungarian venture capital companies.
What I've learned
What I've learned
I think we successfully used the Value Proposition method to build up a business model based on real life problems, and to understand that our first assumptions weren't valid.
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