Preparing for your in-person consultation
How to get the most from your consultation with prospective clients.
Founders consistently say they are looking for fractional GC candidates that demonstrate industry competence, a strong growth mindset, and resourcefulness. Here are some ways you can prepare for your consultation in order to showcase these qualities, and more!
Before your consultation
Research the company: Learn about the company's mission, products/services, industry, and market position. Identify potential legal challenges or opportunities relevant to the business.
Prepare to frame your experience in a relevant light: Reflect on your background, areas of expertise, and any relevant experiences working with similar companies, particularly in the company's industry.
Prepare examples: Think of specific examples where you demonstrated a growth mindset, resourcefulness, and the ability to learn new fields quickly. Be ready to discuss your experiences in handling matters you had to learn quickly.
Think about what the scope of engagement should be: Be prepared to discuss the range of services you can offer and any limitations or areas where you may need to consult with outside firms/lawyers.
Working with outside counsel is part of being a MiniGC… prospective clients should understand that even where you aren't able to do the technical work, your ability to source outside help, vet lawyers, and manage legal work-streams is invaluable.
During the consultation, be ready to provide:
A brief introduction of your background, experience, and areas of expertise.
Examples of your work with early stage companies, particularly in the company's industry or facing similar legal challenges.
Your approach to risk management, communication, and collaboration with clients.
Information about your fee structure, billing practices, and any cost-saving measures you recommend for early stage companies.
Additionally, you may want to ask the following questions to better understand the client's needs and expectations:
Can you provide an overview of your mission, products/services, and target market?
What are the most pressing legal concerns or issues currently facing your company?
What are your expectations for the fractional general counsel's role and responsibilities?
What is your budget for legal services, and do you have any preferences for billing arrangements (hourly, project-based, equity/cash split, etc.)? Do you have a budget to be able to pay for specialist legal counsel (IP, fundraising, corporate, etc) when necessary?
MiniGCs play a large role in vetting and working with outside counsel to cut legal costs, but aren't expected to handle every legal workstream alone.
How do you envision our working relationship, including communication frequency and channels?
Are there any upcoming milestones or deadlines that may require immediate legal attention?
By asking these questions and providing the necessary information, you can demonstrate your growth mindset, resourcefulness, and ability to adapt to the client's legal needs while clarifying the scope of your engagement. This will help both parties determine if the partnership is a good fit.
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