Name of your website?HireTrade Online Legal Outsourcing Marketplace
Your name?
Neil Sandhu, CEO
Your Location (city, etc)
Arlington
Please give us a short summary of your website?
HireTrade, a new online marketplace connecting clients with legal professionals, is powered by the patent-pending HourlyValue Ratings System that helps to ensure clients get the best service for their money from the professionals they hire. Law firms and businesses— rather than outsourcing some legal work overseas or using an agency to hire contract legal professionals in the U.S., consider using the revolutionary HireTrade marketplace to outsource legal work to qualified legal professionals in the U.S. and receive higher-quality work while also realizing cost savings. HireTrade is an open market—law firms, businesses, and individuals can post legal projects and find professionals without having to pay any fees whatsoever to HireTrade. Additionally, if you choose, our optional HireTrade Connect service can be used to facilitate any engagement as well as help ensure you get better service from the professionals you hire.
What inspired you to launch your own website?
inefficiencies in the market for contract attorneys in the U.S. as well as the market for outsourcing legal work overseas - i.e., quality issues, huge agency mark-ups
When did you launch your first website, and what was it?
Helped launch cstocks.com in 1998, a now defunct web company regarding tech stocks
How did you decide on a name for your website?
HireTrade - "Hire" both signifies hiring and higher/better and "trade" both signifies a market (i.e., stock market) and a profession (i.e., the legal trade)
What makes it different from other, similar offerings?
Our patent-pending HourlValue Ratings system helps ensure clients get the best service for their money from the professionals they hire.
What is your eventual goal? (To sell it, keep it for income, secure a book or other mainstream media deal?)
Grow the business
How does your investment of time and money balance against your success?
It has taken a lot of time and money to get underway, but its been worth it.
If you had an unlimited development budget for development, how would you change your site?
Would continue to develop the site, which we plan to do.
If your site got really big, really quickly, would you be able to keep up with the demand?
Yes, we have a team of web developers and designers able to handle just about anything.
What unexpected costs and headaches have you had to deal with?
Costs of continually redesigning the site and costs related to the development of the HourlyValue Ratings system algorithms etc.
What has been your biggest challenge?
Staying sane during this busy time since we just launched.
What method has been most successful for promoting your website?
Networking with attorneys and law firms and letting them know about our new business.
How has running your website differed from your expectations?
No, it is very time consuming and there are a lot of challenges everyday, but that was expected.
How long have you run the site already, and how long will you continue to keep it up if you don't enjoy big gains in traffic, income or popularity?
We launched the beta website last month and we plan to run it indefinitely.
What does your HireTrade Connect service entail?
Our optional HireTrade Connect service can be used to facilitate any engagement. HireTrade Connect includes: • The HourlyValue Ratings System; • Time entry; • Billing; • Payment processing; and • Optional MyBizOffice employer-of-record service. Some of the advantages of using HireTrade Connect: • Better Service o The HourlyValue Ratings system incentivizes professionals to perform at a high level. After a project where HireTrade Connect is used, the client is asked to rate the professional's performance using the patent-pending HourlyValue Ratings System. Individual ratings are aggregated in the professional’s HireTrade profile to create the professional’s average HourlyValue Ratings, so professionals know it is in their interest to perform to the best of their abilities (and certainly at a level that exceeds their billing rate) at all times on projects using HireTrade Connect. • Discourages Over-billing o For all projects, the HourlyValue Ratings system also provides a natural and powerful check on overbilling, without resorting to monitoring or other paternalistic and costly methods. • Lower Fees o HireTrade charges a 10% commission from the professional’s gross billings, a fraction of typical temporary legal agency fees, which often amount to 30-50% or more of a professional’s gross billings. o Many qualified attorneys and other legal professionals can be hired at hourly rates comparable to rates overseas, without the costly monitoring, administrative, management, and training expenses that come with offshoring legal work. • Find the Best Professionals o Clients choose the best professionals for their own projects. Furthermore, the candidate pool for your projects is virtually limitless, and includes many U.S.-licensed attorneys. In addition to those professionals with profiles already on the website, many more professionals fitting the exact qualifications the client desires will sign up and express interest in response to the client’s project posting. • Flexibility o HireTrade Connect is a flexible, customizable option that can be used to hire legal professionals for virtually any legal matter.
What is your website address?
HireTrade Online Legal Outsourcing Marketplace
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