LU 325: How FreshBooks Grew Their User Base to 20 Million Users (podcast)

Hey everyone! Today, I share the mic with Mike McDerment, the CEO and Founder of FreshBooks, an accounting solution that offers simple and innovative ways to handle your financial books.

Tune in to hear Mike share how FreshBooks built their user base to 20 million users, the pricing model and growth rates that they use, and the particular moment that Mike felt his company might die!

TIME-STAMPED SHOW NOTES:

• [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
• [00:41] The beginnings of FreshBooks and the service they provide.
• [01:28] A little bit about the book that Mike wrote, Breaking the Time Barrier. 
• [03:07] The pricing model and growth rates that FreshBooks use.
• [04:32] Mike’s thoughts venture capital and waiting for the injection of funds.
• [07:48] FreshBooks’ first executive hire and the big impact it made. 
• [11:45] Where the company has sourced talent and using a headhunting firm.
• [13:28] Leaving the basement and figuring out product-market fit. 
• [15:09] The ongoing process of customer development at FreshBooks.
• [16:18] One particular moment that Mike felt his company might die! 
• [18:30] Why Mike is somewhat hesitant to share some strategies on a podcast!
• [19:42] A few tools that have added value to Mike’s life recently.
• [20:40] Mike’s must-read book for entrepreneurs.
• [21:59] The new startup that Mike is working on, called Briza.

Resources From The Interview:

• Mike McDerment on Twitter
  
• FreshBooks
  
• Breaking the Time Barrier
  
• The Phoenix Project
  
• TechCrunch
  
• Peloton
  
• Notability
  
• Michael Gerber
  
• Briza
  
• Must read book: The E-Myth Revisited

Leave Some Feedback:

• What should I talk about next? Who should I interview? Please let me know on Twitter or in the comments below.
• Did you enjoy this episode? If so, please leave a short review here
• Subscribe to Leveling Up on iTunes
• Get the non-iTunes RSS Feed

Connect with Eric Siu: 

• Growth Everywhere
• Single Grain
• Eric Siu on Twitter