This article was originally published in The Big Smoke.
When young Russian immigrant Stanislav Roth arrived in Australia at the age of 19 with just a smattering of English, little did he know that he would go on to create a multi-award winning business that would defy all the odds.
Despite the challenges of having to start life again in a new country, Stanislav had a single-minded aim to work with the top echelons of business. First stop: master the English language. Second on his agenda was to qualify as a lawyer – figuring it was the optimum pathway towards realising his aim. Following his legal studies he secured a position as an in-house lawyer with a major corporation, and was on his way to a successful, albeit conventional, legal career.
But that all changed when his in-house experience sparked a radical idea.
Stanislav saw the opportunity for small and medium-sized businesses to get the same kind of on-tap legal support as the internal departments of where he worked – client-centric, partnership-style legal services, with cost-certainty. In other words, he realised there was a gap in the market for a legal firm to be the de facto in-house lawyers for SMEs.
Not long after this revelation, Stanislav founded Source Legal in 2011. At its core is the agreed-fee monthly retainer model that includes unlimited legal services – worlds away from the common practice among law firms of billing their time at six-minute intervals.
Stanislav contends that he didn’t set out to create a disruptive law firm, rather he saw his model as simply the logical response to a business need.
The firm has had a consistent record of growth and Stanislav is particularly gratified by the long-term loyalty among his clients. He attributes that to the emphasis on partner-style relationships and the relief clients experience when they no longer have to worry about what legal services are going to cost.
Source Legal has not only eliminated timesheets but also delays in service delivery. They have an obsession with delivering work on schedule, taking responsibility and eliminating fence-sitting; all unaccustomed yet welcome traits in a law firm.
Furthermore, the lack of focus on timesheets allows staff to concentrate more on client priorities and less on in-house administration. It also allows talented staff with limited availability, such as new mothers, to be easily accommodated in work schedules working part-time or at home.
It is interesting to speculate given the success of Source Legal why there is as yet no direct competitor. Stanislav believes it is because other firms have not yet identified a management model that enables a satisfactory return from offering unlimited legal services at a pre-agreed price.
He believes the key is removing not only the timesheets from a legal firm’s operations but also the mindset and philosophy that has entrenched them.
Stanislav’s unique concept for the delivery of legal services has won both the Professional Services Category in the Optus “My Business” Business Of The Year Awards and also the highly prestigious Business Of The Year Award – a feat never previously achieved by a legal firm.
If you call Stanislav on 0428 328 452 he will be delighted to discuss how Source Legal could form a productive partnership with your business.
Stanislav has created a unique concept that attracts a continuous stream of legal SME migration.