Launching & growing a business with Mike McDerment, the Co-Founder and CEO of FreshBooks, the world’s #1 cloud accounting software for self-employed professionals and small business owners. Mike shares inspirational stories from his early days as a business owner, and how he launched and grew FreshBooks (19:17) while living in his parent’s basement! Mike is an insightful and thoughtful entrepreneur who shares honest opinions and experiences which we can all learn from.
Mike McDerment is the Co-Founder and CEO of FreshBooks, the world’s #1 cloud accounting software for self-employed professionals. In January 2003, Mike was running a four-person design agency and using Microsoft Word to create invoices. One day, he accidentally saved over an old invoice, and that’s when he knew there had to be a better way. Over the next two weeks, he coded up a solution and eventually turned that side project into what is now FreshBooks. To save money, he moved into his parents’ basement for 3 and a half years and completely revamped how he ran his design firm to the point where he only worked 19 days in one year – while generating over $200,000 to bootstrap the company that would become FreshBooks. Today, Mike has grown FreshBooks to nearly 300 people serving more than 10 million users in 160+ countries. To help self-employed professionals set better rates, Mike also co-authored Breaking the Time Barrier, which has been downloaded more than 300,000 times.
Mike lives in Canada.
Books mentioned in this episode:
[We receive commissions for purchases made through these links (more info)].
You can find all episodes of The How of Business podcast, the best podcast to help you start, run and grow your small business, on our Archives page.