Once a novelty, subscription legal services are fast becoming a growing trend, with many law firms giving serious consideration to offering subscription services. Whereas once the mere fact of offering a subscription program was enough of a USP to set a firm apart, what can lawyers offering subscription services do to stand out?
You could try offering different “skews” – i.e., multiple tiers of services – but that could get complicated, and you’d miss out on economies of scale if you’re just serving a handful of clients in each different category. You could also try to match other providers on price – an endeavor that will invariably result in a race to the bottom and potentially make your subscriptions uneconomic to your firm.
Or you could take the approach of a new woman-owned subscription law firm, Start.Law and lead with your mission. Lead by Maria Worley, Start.Law bills itself as the law firm “for the other ten percent” of underrepresented founders (often women and women of color) who face substantial hurdles in raising venture funds. As stated on its website, Start.Law believes that lawyers can change the equation by providing meaningful expert legal advice to underrepresented founders, applying a subscription model to make rates more affordable.
If you’re thinking about starting a subscription service, what will your mission be?
For a guide to offering legal subscription services, see this comprehensive post.