Scouting for Growth Nick Pester: Mastering The Art of Scaling Legal Strategies for Expansion
On this episode of the Scouting For Growth podcast, Sabine VdL talks to Nick Pester, founder of Beyond Legal, who is on a mission to revolutionise the way startups access legal support. But Nick's impact goes far beyond just providing legal advice.
Throughout his career, Nick has been a trusted mentor and advisor to countless early-stage businesses. From navigating the challenges of international expansion to securing major funding rounds, he has been in the trenches with founders, helping them scale their ventures to new heights.
KEY TAKEAWAYS
- You have to balance the need of competitive advantage, moving quickly, & first mover advantage, which is super important and which I always try to support with the businesses I work with, against the harsh reality of doing something wrong or making sure you’re not being unnecessarily exposed and that you’re keeping yourself in a structure that’s attractive to investors.
- If you compare 2021 where capital was much more freely available and people could be more fast & lose with how they did things, to where we are now where capital has dried up and VCs are focused on existing portfolios, you need to be tighter and more organised in terms of your structure & corporate admin has become much more important.
- The best lawyers I’ve ever worked with are the ones who, alongside their technical legal knowledge being very good, have an ability to see what the business is trying to achieve & marry the legal requirement with the businesses objectives. Getting those types of people involved at the outset, even if it’s just a sense check, is so valuable.
- Collaboration is key, we need to get away from the mindset that 2 opposing parties are adversaries. It’s a partnership & the best lawyers are the ones who recognise that the horse trade isn’t just “you give us A and we’ll give you B”, it’s figuring out where the value lies for each individual party & marrying them together in a way that’s fair & respectful of each party’s interests.
BEST MOMENTS
‘There’s a tendency for startups to chase the shiny ball, it’s easy to get distracted by spin-offs of what you could do, businesses that succeed in the long term are those that have patience, dedication & control.’
‘Founders & business have a tendency to view lawyers as naysayers or box-tickers, people underestimate the value of a good commercial lawyer.’
‘If you’ve got a good commercial lawyer in your team, empower them, give them the chance to lead on things & you’ll see the value they can bring beyond the legal side of things.’
‘When selecting a lawyer to work with find an individual that works for you, don’t just go on simple recommendations by name.’
ABOUT THE GUEST
Nick Pester is a seasoned legal professional with over 20 years of experience, specialising in FinTech & high-growth technology companies.
His passion for supporting the growth of innovative companies led him to found Beyond Legal, a venture that leverages his extensive experience to provide high-growth technology businesses with an alternative to traditional legal services.
Beyond Legal's primary offering is fully flexible, on-demand, fractional 'GC Services', which allows companies to access top-tier legal support without the commitment of a full-time hire or the high costs associated with external law firms.
ABOUT THE HOST
Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew a venture lab that accelerates the curation, validation, and commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers, accelerated over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner.