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

Mike McDerment

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!


  • [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:

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