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Entrepreneur Stories 4⃣ Inspiration

141: How FreshBooks became a Successful SaSS Business... with Mike McDerment of FreshBooks

Entrepreneur Stories 4⃣ Inspiration

Millionaire Interviews Podcast & Sir Austin Peek

Careers, Business:careers, Business

4.7 β€’ 2K Ratings

πŸ—“οΈ 1 January 2021

⏱️ 41 minutes

🧾️ Download transcript

Summary

Mike McDerment is the co-founder and CEO of FreshBooks, the world’s #1 cloud accounting software for self-employed professionals. Built-in 2003 after he accidentally saved over an invoice, Mike spent 3.5 years growing FreshBooks from his parents’ basement. Since then, over 24 million people have used FreshBooks to save time billing, and collect billions of dollars. This Episode is Sponsored By: The Meb Faber Show is one of the Top 5 Investing Podcasts as listed by the Wall Street Journal. The show is hosted by Meb Faber, CEO of Cambria Investments and award winning ETF Manager. Go Check Out the Meb Faber Show: millionaire-interviews.com/mebfarber-show. Gusto is making Payroll, Benefits, and HR easier for small businesses. In fact, 9 out of 10 customers say Gusto is easier to use than other payroll solutions. Gusto also saves you time – 72% of customers spend less than 5 minutes to run payroll. Get Three Months FREE by using this link: millionaire-interviews.com/gusto. Want to Support the Show? Well we'd love for you to join our Patreon Group! What's in it for you? Well you'll instantly get a scheduled call from Austin, where he'll help you with your current or future business... Sign-Up Now at millionaire-interviews.com/patreon. πŸ˜€πŸ˜ŽπŸ˜ *** For Show Notes, Key Points, Contact Info, Resources Mentioned, & the Fabulous 4 Questions on this episode visit our website: Millionaire Interviews. *** Support this Podcast via Patreon Feedback? Questions? Comments? We would love to hear from you! Hollar at us via: Twitter (@acpeek or @millionairepod), Instagram (@millionaire_interviews), LinkedIn (@austincpeek), Facebook (@millionaireinterviews), or Email: [email protected]. πŸ˜ŽπŸ˜πŸ˜€

Transcript

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0:00.0

So now for our big announcement. So for all of our active patrons, we're going to

0:05.8

actually start releasing Patreon exclusive interviews. So starting September

0:10.2

1st, all Patreon members will be given a special unique URL and with that URL

0:15.8

you'll get access to a new Patreon episode each month. And so if you're not a

0:20.2

Patreon member yet and you want access to these special interviews, well, you

0:24.3

should join before September 1st because after that, we're gonna raise prices.

0:28.2

And as we begin to release more and more Patreon episodes, the prices on all

0:31.8

tiers will start to increase more and more. So again, if you want to lock in your

0:35.3

price, well then scroll down to your episode notes below to find out how you too

0:39.3

can become a Patreon member. So that's it. Thanks for tuning in and let's get on

0:44.1

to this interview with Mike McDermott of FreshBooks.

0:53.3

The best part about starting the business to me was not knowing. It says

0:57.9

as adventure, this completely unclear and uncertain way of how you get from

1:03.7

point A to point B. And one of those lessons is I just used to run myself into

1:11.5

the ground all the time. You are going to spend more time with the people you work

1:16.5

with than you will with your family. I think the place where I got it wrong and

1:21.1

a number of times is the biggest battle is between your ears. Good luck.

1:31.7

So if you want to introduce yourself, give us your name, your location, your age,

1:36.8

and then tell us a little bit about your company, then we'll reel it back to the

1:40.1

beginning and how you got here. My name is Mike McDermott. I'm the co-founder and

1:43.6

CEO of FreshBooks. I'm based in Toronto. My age presently, I believe is 42, but

1:49.4

I rarely remember. It might be 41. Who knows? FreshBooks is ridiculously easy to

...

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