Code Barrel develops Apps for Atlassian products whilst keeping a focus on its business values
Client | Code Barrel
|THE CHALLENGE||THE OUTCOME|
|Drafting legal documents that would form the foundation for the startup and protect against liability and help expand the team||A suite of legal documents drafted to protect Code Barrel as well as employment agreements for new employees|
After Nick Menere and Andreas Knecht worked at Atlassian for 10 years, they decided to stop and take a well-earned break. They had a serious conversation about doing something for themselves and working together, taking time to reflect on what they wanted to do and where they wanted to go. Lifestyle was important to the Nick and Andreas, and so was having a good team around them.
Since they had worked for Atlassian for a decade, seeking investment wasn’t a priority and they had enough resources to start their own venture. Being able to use their own resources gave the co-founders time and funding to plan their strategy properly.
“The time we took to reflect on our values really shaped what Code Barrel has become today.”
– Nick Menere, Co-Founder
Nick and Andreas’ plan was to leverage their knowledge of Atlassian products and customers. They could leverage this knowledge to sell Apps in the Atlassian marketplace. Their original idea was to release half a dozens Apps in the first year and see what the market responded to. The first App, a satisfaction survey tool, was too niche. Sales didn’t materialize. The second App was a tool to help administrators configuring automation rules. The tool would eliminate the need for manual processes and custom scripts when using one of the Atlassian key products, Jira.
The product quickly took form, and customers responded well. When Code Barrel won the Atlassian Codegeist 2016 for the Best IT Team add-on, the team knew they had made a good product.
The Code Barrel Journey and Challenges
Code Barrel quickly realised that as bigger customers came on board, they wanted not only more products and security accreditations, but also performance guarantees. Code Barrel had to work with these customers to ensure they had all the right measures in place to protect their privacy and security.
“We don’t have law or accounting degrees. Your time is precious as a startup. Learning things from scratch isn’t an efficient use of time. Focus on building your product.”
After Code Barrel gained traction, the team looked at marketing and expanding their product offering. With more customers, they needed more support on the team. Nick and Andreas knew the accounting and legal issues would prove more difficult than what came naturally – coding.
There was significant research involved in finding the right people that could service the accounting and legal needs of Code Barrel. The team found that having found the right people contributed significantly to their success. They formed important relationships with the people that would help along the way – their accountant, lawyers and suppliers.
Code Barrel’s Legal Challenges
“What impressed us most was that LegalVision knew the startup space. You spoke the same language as us and that put us at ease.”
Code Barrel also wanted new team members to feel like they had ownership of the business, so Nick and Andreas worked with LegalVision’s startup team to set up a Shareholders Agreement. The agreement set out the duties of the directors at Code Barrel as well as the process of issuing shares to new employees, who the employees were and the terms of their employment.
Future for Code Barrel
Following the success of their product, Code Barrel has won the Atlassian Marketplace Vendor of the Year for 2017 for Fastest Server Growth. There are four people on the team and they have just hired an intern for the summer. Now, Code Barrel is looking to expand.
They have a solid base of product offerings that leaves their options open for future expansion. They aim to bring on more people in the next two years, keeping it small and personal with a focus on lifestyle, benefits, good rewards and strong profits for their team and customers.
Turning ideas into reality can be challenging. If you need agreements for new team members or you need to get the right documents in order for your new website, get in touch with LegalVision’s business lawyers by calling 1300 544 755, or fill out the form on this page.
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