A good business idea

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From the course by IE Business School

Legal Tech & Startups

39 ratings

IE Business School

Legal Tech & Startups

39 ratings

LegalTech is the reaction to the disruption that technology is having across all sectors of the economy. Considering that the legal sector is one of the most resistant to change, due to its conservative nature, we can see just how different the future will be. In this course, IE professor Marti Manent will guide you through the essential stages of this disruption in technology, giving you the key tools and ideas to consider when starting your online business. In the course, Marti explains the key market trends that you will encounter and will provide you with a handy practical toolbox. The course features interviews with industry professionals as well as very motivating and interesting lectures that will help you open your mind and better understand everything in the course. Be part of this disruption that technology is having in the legal sector and join Professor Marti during this exciting new course.

From the lesson

The Business idea

Where do good ideas come from?4:56

Share your idea3:25

A good business idea3:16

The business model3:50

Protect your idea3:41

Meet the Instructors

Marti Manent
Professor
Director Programa Legal Bridge to Silicon Valley

Great, and now we are going to check what is a good business idea.

According to the founder of Y Combinator,

the idea is very important.

Let's imagine that you're going to start your company

in the legal tech sector and you're going to

spend the next month or the next year developing a product or service.

Let's imagine that before starting you know if your idea is good or not.

Wow, that could be amazing.

Then if your idea is bad you're going to save months or years and how we can test that?

How we can know if your idea is good or not?

I'm going to explain a very easy way to check that.

I suggest for example that if you want to self-service or if you want to sell a product,

let's set up a site with Wordpress.

Wordpress is a CMS,

it's a Content Management System.

What does it does? It manage a web page. And it's very easy.

You can set up a Web site with Wordpress just in a minute.

What I suggest is to create your Web site,

trying to sell that product or that service without having it,

without having to spend month developing the product on the site.

Then put the buy button just

close to the description or the picture of the product or service, and yes,

put a form where you take that card number or whatever,

because what do you really want to check if the people want to pay for your idea.

I will explain again. Yes. Set up a web page.

You can do that with Wordpress,

put a photo or a description of the product or service,

and attract some users.

How you can do that, buy some AdWords in Google Adwords.

Then you attract users and you check if they really want to pay for your product or idea.

That is going to save you a lot of time and a lot of money because that is a real test.

It's not that I think that that people will pay.

No no. But it's a real test.

You're going to know if the people want to pay or

not and that is going to be probably a very good test,

if your idea is good or not good.

Then what we think- what we think that you must try is to do it.

That's, that could be afraid.

Why? Because what happen if nobody click the button buy?

Okay, great. I repeat,

you're going to save time and money.

But what happen if your business don't produce money.

Okay, then you could have a nonprofit organization,

but I think that you want to make a good business.

In the next video,

I will explain how you can make money.

I will explain the business model concepts

that you could apply to your legal tech company.

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