FreshBooks spent $10 mil to recreate software that already works

Mike McDerment, FreshBooks, B2B, Customer Acquisition, SaaS (software as a service)

Today I’ve got one of my first interviewees, the founder of FreshBooks, Mike McDerment.

I’ve used FreshBooks to send out invoices pretty much since I started Mixergy.

And to be honest with you, I was taking some time off–I wasn’t recording interviews. But Mike emailed me and said, “I think we should do another interview. It’s been seven years since the last one.”

I assumed Mike was doing this interview to announce he was selling FreshBooks. So, that’s why I agreed to come to the office and record it.

Then I realized what the actual news is…

Mike McDerment

FreshBooks

Mike McDerment is the founder of FreshBooks, invoicing software for small business.

Andrew: Hey, everyone. My name is Andrew Warner. I’m the founder of Mixergy.com, where I’ve interviewed entrepreneurs about how they built their businesses since 2008.

Today I’ve got one of my first interviewees, the founder of FreshBooks, Mike McDerment. And to be honest with you, I wasn’t even–hey, Mike–I wasn’t, Mike, planning on coming in here to the office. I had a kid a little while ago and I decided I was going to work from home or coffee shops or not even work at all or take some time off. But then Mike from FreshBooks emailed me and said, “I think we should do another interview. It’s been seven years since the last one.”

I said, “Okay. Is there some news?” He said, “Yeah, there’s some news.” In my head I said, “I’ve got to jump on this. Mike is selling the company. He’s selling FreshBooks. Absolutely. Mike, what do I need to do to make this happen?...

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