Rishabh is an IIT Roorkee, MDI Alumni with 4+ years of experience in investment banking & business consulting, having worked with reputed firms like Goldman Sachs and EY. A highly passionate individual, creating ‘impact through work’ is his greatest source of satisfaction. He and his friend Kushal Bhagat (also, an IIT Roorkee Alumni), co-founded MyAdvo.in, a legal tech company, with an aim to make legal simple, efficient and transparent for both clients and lawyers. Their vision is to create the single largest legal ‘network’ enabling lawyers, law firms, individuals and startups/SMEs to connect and collaborate.
Please provide a brief overview of your product/ service.
In a nutshell, we find you the right lawyer. Individuals can choose (1) to ask a free question, which is answered by lawyers specializing in that domain, (2) engage a lawyer directly through our ‘find a lawyer’ service, which provides relevant information about the lawyer including his areas of expertise, reviews and online activity on MyAdvo. (3) Users can also choose our ‘talk to lawyer’ service, where a case manager understands the client’s legal situation and gets the user an in-person or mobile consultation with a suitable lawyer. For corporates/ SMEs, we have a reverse closed auction model, wherein multiple ‘subject matter expert’ lawyers send proposals within 1-2 working days, for businesses legal requirements.
What inspired you to build the above product/ service?
Few years ago, my family was in a grave legal situation and we needed to find a lawyer. In our hunt, we realized how opaque and inefficient the legal market is. There are over 6 million cases filed in lower courts of India each year, over 1.5 million lawyers, and yet there is absolutely no information available to find the ‘right’ lawyer, to judge the competency of the lawyer or the true market price of their service. That is how the idea for building an online network that connects ‘clients to lawyers’ was born.
What is your life mantra?
Keep your eyes on the stars and your feet on the ground.
What was the most challenging part of your journey till now?
We knew that coming from an engineering background, it would be a challenge to make lawyers trust us because the legal community is pretty close knit. I remember one of our early meetings with a lawyer, which basically went something like this, us: “would you like to provide relevant information about yourself, provide free legal advice online and provide proposals through an online platform? Lawyer: “Proposal? Online? information? what the hell are you talking about? Clients come to me” Luckily we did not stop there and today we have over 100 lawyers and 15 boutique corporate law firms registered with us.
How did you overcome those challenges?
‘We kept going’. There are many lawyers out there who are willing to be part of the change that is very much required in the legal industry. The journey has just started for us. It is going to take a lot of focus, determination and creative thinking to add value to our users, be it, clients or lawyers.
Share some details about the investments that you have been able to fetch for the business till now.
We have a healthy mix of IIT, DCE grads and lawyers in our team and are currently bootstrapping. We will be actively looking to raise funds in the very near future.
How do you protect yourself from the problem of Brain Drain?
Our team is full of football fanatics, so after a really long day, we turn to FIFA on our play station.
According to you, what are the three qualities an individual must have to achieve success?
Grit, focus and ability to build a great team
Share any one habit which you think makes you more productive.
Every morning, Clearly defining my goals for the day,
What are your plans for next 3 years?
We want to become the single largest client-lawyer network, adding value across the value chain of the legal services industry.
If you get a chance to start your career again what would you do differently this time?
As Steve Jobs said, You can only connect the dots looking backward. Therefore, every experience counts.
What are your top three getaway destinations?
Leh, Goa and Rishikesh
Share a quote that inspires you the most.
“If the doors of perception were cleansed, everything would appear to man as it is, infinite.”