Following the status quo can be a safe path, but if you’re looking for resilience and untapped growth potential, innovation and creativity are a must.
Rubsun Ho, initially a lawyer at a large firm, grew disillusioned with traditional working conditions, prompting him to explore the start-up sphere, but that too left lots to be desired. These experiences inspired him to start his own law firm, one that rejected the status quo, and tried something entirely new. Luckily, his neighbour, Joe Milstone, also happened to be a disgruntled lawyer with the same ambition. Together, they built Caravel Law.
Rubsun and Joe discovered a niche nexus between companies looking for lower cost solutions to in-house lawyers, and lawyers who desired more flexibility and control around their work. Listening to the needs of both sides, they built a remote company long before most of the business world had even heard of the term “remote work”.
Not only did the immediate demand exceed their expectations, their forward-thinking approach also ensured resilience and growth during economic downturns like the 2008 financial crisis and the COVID-19 pandemic.
In this episode of A CFO’s Diary - Pathways to Growth, Rubsun reflects on how his corporate and startup background shaped Caravel's success, discusses the challenges and advantages of early adoption in remote work, and shares his best advice for entrepreneurs looking to build their own innovative businesses.
Chapters
1 - Rubsun’s background at a big law firm and a start-up
2 - Meeting Joe and beginning Caravel
3 - The model and the response from workers and clients
4 - How the model made the business resilient to downturns
5 - What he would do differently
6 - Selling the business
7 - Rubsun’s three pieces of advice for business success
Links
What is A CFO's Diary - Pathways to Growth?
In each episode, we take people through what we call a ‘discovery call’ during which we learn about their business, its opportunities, potential areas of development, and strategies to move forward, including those they may have missed. Using this discovery call format in each episode, I speak with folks I’ve met over the years whom I’ve learned from, to revisit these journeys. We won’t hold anything back and will reveal crucial strategies, insights, and potholes to avoid—all vital for the success of any business, regardless of its size.