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In this week’s episode of the Extra Paycheck Podcast I am joined by Stephen Kane, the founder and CEO of FairClaims.
Stephen Kane always wanted to be an entrepreneur. As he was going through school he got into several startups so the idea of running a business wasn’t foreign to him.
Many of Stephen’s peers also started their own businesses and several startups. This is when Stephen noticed a gap in the market. These small businesses often needed to settle legal cases (breach of contract, late payments, small disputes, etc). However the judicial system being so slow and often expensive made this task nearly impossible.
Having a background in law Stephen decided that things needed to change. This is how he came up with the idea for his own startup, FairClaims.com
FairClaims is a platform where you can resolve small claim disputes online with legally enforceable results. They use the legal backdrop of arbitration which means that the parties agree on a solution without going through a judge. Everything is done online which saves time and money for everyone involved.
It took this company some time to finally start picking up. I need to mention this because so many beginner entrepreneurs expect to see amazing results within a few weeks. “Overnight” success stories usually takes years of effort and patience – don’t forget that.
The business really picked up when Stephen started reaching out to sharing-economy online marketplaces (think Uber and Airbnb). Although FairClaims was bootstrapped at first, they raised $1.8 Million in May which certainly helped the company grow.
In this episode Stephen shares his most valuable tips on building a business, growing that business, funding a startup and much much much more.
Check out Fair Claims at FairClaims.com
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