The Journey of a Founder: Insights from Mike McDerment

Our interview with Mike McDerment, the former CEO of FreshBooks.

Have you ever wondered what it takes to be a founder? The journey of starting and running a company is filled with challenges, surprises, and personal growth. It requires finding inspiration, staying close to customers, and balancing operations with a clear vision. As a founder, you have the opportunity to create something meaningful, solve customer problems, and build a team that shares your passion.

In this episode, we are delighted to feature Mike McDerment . Mike is a serial entrepreneur with multiple ventures to his name, and is prominently recognized for his extensive tenure as the founder and CEO of FreshBooks. FreshBooks is the #1 accounting software in the cloud, designed exclusively for freelancers and growing service-based business owners. In addition to various other endeavors, FreshBooks stands as the cornerstone of his career. Although he initially held the CEO position for a significant duration, Mike eventually transitioned out of that role a few years ago. Mike has also co-authored ‘Breaking The Time Barrier’—a guide to using value-based pricing to unlock your true earning potential—which has been downloaded more than 250,000 times.

During our conversation with Mike, we discuss the challenges and surprises of being a founder, with Mike sharing his experiences and personal growth throughout his 20-year journey with FreshBooks. We also touch on topics such as staying close to customers, finding sources of inspiration, and the evolving role of a CEO. He emphasizes the importance of open communication, healthy conflict, and staying connected with the team. We also discuss internal succession, fundraising, and the future of technology, including crypto and data. Mike advises founders to join multiple boards for diverse perspectives.