There are some “rules” of business success most entrepreneurs abide by. But many also have their own “secrets”—things they do or believe that helped them achieve success. In “Secrets of Success,” a weekly interview series here at Web.com’s Small Business Forum, I ask some of today’s smartest, most innovative, most successful business owners to share their insights and success secrets with you.
Meet: Noory Bechor, the cofounder and CEO of LawGeex, a new legal site that provides an automated review of legal contracts within 24 hours. Noory, an international business lawyer with years of experience working at a big law firm, got a lot of requests from friends asking him to review their private and business contracts. He then realized the need for a place people could go to get contracts reviewed quickly and affordably.
LawGeex reviews more than 17 different types of contracts including leases, NDAs, service agreements, employment agreements and term sheets.
You can find Noory on Twitter @noorybechor.
Rieva Lesonsky: What did you want to be when you grew up?
Noory Bechor: A professional basketball player. I actually played and coached basketball until age 18.
Lesonsky: Why did you start your own business?
Bechor: After supporting many startups and entrepreneurs as an international commercial lawyer over the years, I caught the “entrepreneurship bug” and decided I wanted to create something of my own. I was specifically interested in building a big company that would make an actual positive difference in the world.
Then I noticed my friends and family asking me to review their contracts. They didn’t want to risk signing blind but also didn’t have the time and money to find a relevant lawyer. I realized there must be a better way, and so the idea for LawGeex was born.
Lesonsky: Did you experience a pivotal moment on your way to success?
Bechor: Attending the Executive MBA program at the Kellogg School of Management [at Northwestern University] really opened my mind and convinced me that my goal was to build and grow a business of my own, instead of consulting others on their businesses (which is what I did for several years until then).
Lesonsky: What’s the best small business advice you ever gave and/or received?
Bechor: “From Day 1, think and act like the big business you want to become.” This affects almost every decision you are going to make: HR, technology, product, marketing, etc.
Lesonsky: What’s one “best practice” more entrepreneurs should be embracing?
Bechor: Do a lot of homework and foundation building before actually diving into your new venture. There’s a lot you can do before quitting your “day job” and placing a big financial burden on yourself and your new venture.
Lesonsky: Do you have a small business prediction?
Bechor: On one hand, running a small business will continue becoming easier as more technologies like LawGeex emerge to help simplify the process of running the business and make it more efficient. On the other hand, the business challenges in running a small business will continue to become bigger and bigger as we see a consolidation trend in most markets, and the big players growing faster, taking more market share from the little guys.
Lesonsky: What’s your favorite book?
Bechor: Ender’s Game by Orson Scott Card.
Lesonsky: Is there a quote you find particularly inspiring?
Bechor: “If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein
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Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email Rieva at [email protected], follow her on Google+ and Twitter.com/Rieva, and visit her website, SmallBizDaily.com, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.