Okay so here’s my thread where I share my #pitchdeck for my #legaltech startup. There’s a funny story as to why this deck was made in the first place which I’ll share at the end. Let’s go!

The name comes from the phrase lawyers always say to each other (at least in the teams o worked in) where we would ask each other to “SenseCheck” a document. My startup focus on AML / back payments in trusts and estates. It does more than that but I’ll talk about that later.

The “what”. SenseCheck is a beneficiary payment platform for lawyers and fiduciaries (professionals who act as say a trustee, executor or attorney). This was the SMALLEST idea in a much bigger plan. I was encouraged to build a business around that first (sound advice)

The “why”. What problem am I trying to solve? What’s the pain point. It can take a long time (too long) to collect and verify data from beneficiaries. This is true of lots of legal processes, be private client law has been underserved in the U.K. compared to other areas.

The “who”. Some numbers for the size of the U.K. market we are trying to help.

Some more details about the problem. This idea has been in my head for YEARS having working as paralegal and then lawyer for around 15 years. This deck was made before the pandemic.

A detailed description of the current “manual” process most firms take. It’s very paper heavy, insecure and labour intensive.

Some testimonials / commentary. It wasn’t a great idea to use my own comment

Creating suspense

A high level overview of our process. We’ve actually improved on this in the product that’s been built. I’m really proud of what we’ve done. Can’t wait to show you

This is where my knowledge of AML solutions through a LOT of research came in handy. And my ability to code a little helped me understand what was possible and who we could by data from.

Talking about value add to our customers

And to their customers

The revenue. These figures have literally no basis in reality but the model - subscription vs PAYG is important to understand as there are trade offs. We have accurate financial projections based on our targets now.

So here’s some of the big picture ideas that keep me awake at night. We’ll start on these once we have solid numbers and do our raise

I love these ones. We could in theory give beneficiaries the option to open a new bank account as part of the process - we would have captured a lot of similar data in our AML process.

Competition analysis. This wasn’t done well to be honest but I’ll leave it in for good measure. Do more research than I did initially. We know where we put and how we will compete now.

Last slide! Our timeline. Despite the pandemic, we are only about 3 months behind still lots of work to do. I’m excited and ready to learn. Hope you enjoyed this.

BONUS STORY: So I never intended to make a deck, like most of my ideas I just kept them to myself. I had been chipping away at a little website (to hone my web dev skills) link https://tender-gates-74e291.netlify.app/ 

Then on a whim, and because I was in the @joinyena community, I entered a competition with one of their partners for a global incubator. I entered on the train back from London, tired from client meetings and mostly because I was in a rebellious mood.

I didn’t expect to hear anything but I got through to the first round of interviews. This is where it goes downhill quickly - I did not read the guide they sent well and completely missed the part about preparing a pitch deck. The panel judge was kind enough not to...

... rip me apart. He said I did a good job at explaining the concept but that a deck would have helped me. In an act of kindness he said I could have another go tomorrow with a separate judge - providing I make a deck

Again this is where @joinyena comes in and I am happy to plug them because it started a journey that’s been pretty life changing. They had @ludushq as part of their toolbox and @TheAshPhillips explained how it worked. I made this deck in about 2 hours with no notes...

Just the ideas in my head spilling out freestyle. I didn’t have time to pour over it. I am pretty sure I had band practice that day and our son was only a few months old. My memory is hazy but I remember feeling rushed and panicked!

I finished the deck. I wasn’t that confident that I’d do any better the next day with the new judge. My next challenge was how do I find time@for the call at 10am when I am at work? Well I pretended to have a client meeting and took my laptop downstairs with me.

Sweating a lot I went for it and nervous AF, very animated but tried to stay calm and just enjoy it. It went well! They liked it but said ultimately the business idea was too small for what they were looking for a nice “ 6 figure lifestyle “ business

Hilariously my laptop died before the very end of the call. But I diales back in and we finished up. Super awkward but it didn’t really matter. We will see about the numbers of course.

Well now I have a deck. And some validation that it’s not a completely horrendous idea. I start building up my confidence and sharing my deck with more and more people. Until eventually one of them says “I know someone who is in this space. Let me make a call...”

And now we are here

Lots to share as we launch. If you want to follow along, connect with me here. And if you are lawyer who is interested in seeing how this works, connect with me on linkedin https://uk.linkedin.com/in/jermainepaulsmith

Or head to https://www.sensecheck.tech/  and sign up to our mailing list. Our new website drops soon. Really soon!

Sorry for the typos. I am typing this on my phone and it consistently betrays me

A big shout out to my wife @YaYev who encouraged me to follow through with all of this. I’m so lucky to have her support, belief and words of wisdom.