Recent news has painted a discouraging picture for start-up companies. As the stock market continues to falter and experts warn of an impending downturn in the economy, or worse, a full recession, entrepreneurs are being advised to “plan for the worst” by making some tough decisions right now, including cutting costs to help weather the current environment. Even in better economic times, the most successful new businesses are those which operate with great efficiencies of scale.
When it comes to mission-critical functions such as legal and finance, scaling back should be approached thoughtfully in order to limit any potential disruption of short-term business objectives. For example, reevaluating a company’s legal budget might include consideration of alternatives in the legal services market. Outside GC is an innovative law firm offering considerable value to clients through its on-demand model, an approach it pioneered back in 2002. Outside GC's partner-level, experienced attorneys provide fractional legal counsel services to both large Fortune 500 companies and small-to-medium enterprises at rates that are significantly less than traditional firm rates and more cost-effective than hiring a FTE in-house attorney.
As one industry observer recently noted, "the recent slowdown represents not so much a setback as an opportunity for startups to rethink how they do business." We could not agree more with this perspective. Reducing your legal spend does not have to come at the expense of quality or value. If you are considering cost-saving measures, Outside GC is worth a look. For more information about our firm, please contact Amy Jeffrey at abjeffrey@outsidegc.com or Contact Us.
Amy Jeffrey is Managing Member of Outside GC and an attorney on its New England-based team. Amy has over twenty years of both in-house and big law firm experience and regularly represents clients in various sectors and industries, including banking/finance, healthcare, life sciences, medical device, real estate, and commercial aviation.
