The Munich startup e-profound helps small and medium-sized businesses find pre-screened lawyers and financial experts and collaborate with them via a digital platform. Co-founder Isidora answers our 7 questions for e-profound.
1. Who are you and what do you do?
We are Alexander Baron, 35, Tech Lead, with ten years of investment banking experience, Bernhard Stippig, 33, takes care of marketing and is a serial entrepreneur, and I, Isidora Dekalo, 31, am responsible for product management and previously worked in E&Y Transaction Advisory.
Together we are e-profound, the digital professional services boutique. We help startups and mid-sized companies find first-class, pre-screened lawyers and financial experts and collaborate with them via our platform. We offer top-notch advice without the overhead, as we replace expensive real estate and secretaries with technology.
Legal advice digitally — and at a fixed price
Our model is incredibly simple: In the first step, the customer finds a solution to their problem with us and books a service package. This is followed by a free 15-minute initial video consultation. Afterward, the customer receives a customized fixed-price offer with a solution methodology. In implementation, e-profound offers smart tools for efficient virtual collaboration.
2. But that's been around for a long time!
No, because our business model hasn't been legally possible until now. For lawyers, maintaining professional secrecy is of particular relevance under professional law. Until now, they weren't able to work with clients in any way they wanted, according to Section 203 of the German Criminal Code (StGB) and Section 43e of the German Federal Lawyers' Act (BRAO).
Use new legislation
The legislature has also recognized the changing requirements for modern legal advice and evolving technological possibilities and revised the law in the Bundestag (BT 18/12940) on June 29, 2017. The law will come into force this fall, and we are ready to launch our digital platform right on time.
Specialized, top-notch advice supported by technology delivers efficiency gains that we pass on to our clients. We turn the seller into a buyer's market, and our lawyers benefit from this.
3. What has been your biggest challenge so far?
Focus. New ideas emerge in the team every day. Structuring, prioritizing, and implementing them requires the ability to say "no" and perseverance. Most things take longer than you think.
Great customer trust
4. Let’s get down to business: How is business going?
We've brought 43 B2B projects to our platform. This demonstrates tremendous trust, as we don't pursue a low-price strategy. We're grateful to our customers for this.
5. What does Munich mean to you?
Munich is a great location for our business model. Due to the economic power of local companies, many top lawyers are based here. Close communication is particularly important to us at the beginning.
And the Munich startup scene is thriving: In LMU Entrepreneurship Lab we found great support.
6. How will your startup become the next unicorn? Or will we see you soon at Epic Fail Night?
Clearly on the path to becoming a unicorn. We're working on a real problem that's been a headache for companies since the invention of legal advice. We're tackling this market together with lawyers who want to help shape the future of legal advice. The market is worth over €20 billion, offering our foal plenty of room to develop into a magnificent unicorn.
7. Helles or Prosecco?
Prosecco. We're a boutique, after all.
