When I decided to launch Shoobx I quickly realized I had a lot to learn. How does a first-time entrepreneur decide whether to invest the time required to attempt to figure it out on their own, or engage corporate counsel and/or other advisors to do the job? You're constantly wondering whether an action is basically standardized or if there is some hidden tax or strategic issue you're missing. Every decision made about company structure, governance, and ownership brings varying levels of risk and cost—now or down the line, where perhaps the stakes are higher. We are writing this blog in the hopes that it prepares you to ask the right questions, and enables you to decide thoughtfully as you navigate the many issues you will face on the road to forming, funding, and managing your business.
Shoobx was founded with the purpose of both empowering the entrepreneur to understand more about their business as well as modernizing the relationship between attorney and corporate client. As I met with attorneys in the startup world I was happy to find a group of talented and passionate advisors who I believe are widely misunderstood. There is too much negative talk about the costs related to legal counsel. Entrepreneurs have a responsibility to be educated about how to avoid unnecessary fees, and leverage tools to more efficiently consume legal services. An attorney should be an entrepreneur’s strategic counsel and go-to resource for complicated matters. I believe Shoobx can help make that more true than ever by putting common and repeatable tasks on rails within a SaaS platform.
This blog is a starting point to consider some of the questions that are common to entrepreneurs along their journey. We will explore topics related to company formation, equity issuance, governance, financing, and human resources, from formation to funding to exit. I expect we’ll have guest posts from corporate lawyers, investors, and entrepreneurs from the innovation community. I look forward to engaging with our community to help educate us all, so we can be more efficient with our time and focus on what matters most—building great teams and businesses.