Fact file
Dominic WoolrychChief executive and part owner of online legal platform Lawpath; age 33; lives in Sydney’s Kings Cross.
Formerly a corporate lawyer at MinterEllison. First job was on a whale-watching boat in Sydney; wanted to be a boat captain. Also owns RideShare Training, an online business that trains Uber drivers. Started playing the stockmarket in high school by entering ASX competitions. Pastimes are any thing to do with the water, including sailing and windsurfing.
He says more people than ever are logging on for advice about thorny issues that now confront them. The uptick is even giving him confidence to continue pushing growth plans.
Moves are afoot to launch the platform’s first TV and radio marketing campaign mid-year in a bid to boost subscribers further. There are also plans to raise capital and expand into Asia.
“The virus will have an effect because small businesses are struggling,” says Woolrych.
“The majority of our clients are small businesses. That said, in the last four days we have had the largest revenues in our history. That’s because people are looking for alternatives to traditional legal services. They can’t go and visit their lawyer. They can’t go and visit their accountant. They are, therefore, looking for virtual or online options, or they are looking for more affordable alternatives because they are pinching the pennies a little. And people are setting up plans with us, getting ready for the tough times ahead.”
The core concern is downsizing, including cutting workers.
This story is from the May 2020 edition of Money Magazine Australia.
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This story is from the May 2020 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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