Saturday, March 30, 2019

Unique Business Models & Regulators

Business innovation and unique business models benefit other businesses and consumers. Nevertheless, there are those who hate new ideas.

Although I personally despise Facebook, nobody can dispute the business has reunited friends who would not have remained in touch but for the company, helped solve crimes, and opened up communication to third world countries. 

Yes, regulators needed to step in to protect certain aspects of users' privacy.  Nevertheless, as always, government folks can't help themselves. I see overstepping and overregulation that will do more harm than good for that company and it's satisfied users.

The victims of bad laws to come will be  Amazon and Uber. These companies are relatively young services that have changed the face of this country. I don't know anyone who hasn't used these services.  But for the innovation of the founders of these companies, we would all be worse off in one way or another. They deserve the billions they have made.

Yet, the government is hell-bent on clamping down on these businesses.
First, a few folks in Queens who have probably never come up with an original business thought in their lives decided to quash a deal after it had been awarded.  What business person in his right mind would ever want to do business in Queens as long as that crew is anywhere in that borough?

Now, the government has set its sights on Uber.  NYC is taking sides between Uber and the taxi services.  As someone who had been passed by taxis in several cities, have suffered through loud phone conversations between drivers and God know who, and smelly cabs, I'm delighted those folks have gotten their walking papers.  Government shouldn't step in to protect them by excessive regulation or by imposing high taxes on Uber riders. The cab business model is antiquated and deserves to be downsized until they change and become more consumer friendly.

I believe my business model is somewhat unique just because a significant number of cases I handle are Landlord-Tenant cases.  This Firm represents small landlords and all tenants.  These cases are 65%-85% of the Firm's business. The high call numbers have increased with Atlanta's increasing population.  My theory is to try to assist as many as possible and expect a 90%-95% appreciation rate through repeat business, referrals, and/or good ratings.  The 5-10% disgruntled class is the cost of doing business and having the unique business model I have.

Indeed, people are willing to wait for me because there aren't too many experienced landlord tenant attorneys who offer low reasonable rates. Additionally, I've been told callers do not get the comfort level they expected when they called other firms or they don't get a return call at all from other lawyers.

My business model was reaffirmed recently when someone called me for a case after a client had "gushed" about me to her on a MARTA ride. 

No, I don't have paralegals or legal assistants. This helps me to know my clients, know their stories, and establish a comfort level and relationship with them.  As a result, a scheduled one hour meeting may turn into a 1-1/2 or 2 hour meeting.

For those who want the plain vanilla attorney, don't call, write, or stop by here.  This Firm has a different business model. If you hire me and don't like it, ask for your money back and leave. There are too many clients who understand what's going on here to change voluntarily.  After 17 years of being in solo practice, I must be doing something right.  As long as allowed by regulators and the government, this model of service will continue.

I had thought about changing the model, but I talk to callers who haven't received any assistance in their plight and I change my mind. These people make too much money for legal aid, but don't make enough to pay a large retainer. These "donut hole" folks who would receive zero assistance, but for me, keep my business model alive and thriving.

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