Entrepreneurship 101 Lived It Lecture - Mike McDerment

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Mike is the co-founder and CEO of FreshBooks, planet earth's leading online invoicing and bookkeeping app for service oriented professionals, freelancers and teams. Mike built FreshBooks in 2003 for his design firm in order to scratch his own itch. Since launching in May 2004, FreshBooks has touched over 2,000,000 lives and Mike and his team dedicate themselves to being a great service for people who love their work, and want to focus on it instead of focusing on their paperwork.

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Entrepreneurship 101 Lived It Lecture - Mike McDerment

  1. 1. Looking back in the thick of it @MikeMcDerment – Co-Founder and CEO Oct, 2010 – #Innovate2010
  2. 2. Mike McDerment Co-founder, CEO
  3. 3. 9 morsels for entrepreneurs I’ve learned the hard way
  4. 4. We believe you love what you do. We help you focus on it.
  5. 5. The leader in online invoicing 2004 Over 2,000,000 users since Solo Design agencies, Recurring revenue professionals Law firms businesses $19.95/month $29.95/month + $79.95/month +++ $10/month/staff
  6. 6. A brief history… •  Founded in 2003 •  Based in Toronto •  3 years in Mike’s parents’ basement •  Now 50 people and expanding •  Service culture •  No VC
  7. 7. My Story The longer version. A disclaimer about us hiring.
  8. 8. Get paid for two things Know what you are. Ask people.
  9. 9. Complement yourself Three roles. Go to happy place. A set of reports.
  10. 10. Value Your Values Hire for it. Don’t settle. Build a culture. No venture.
  11. 11. Just say “no” 27:1. Two units. Two deals.
  12. 12. Take your time Speed kills. Consultants and such.
  13. 13. Ignore the competition Don’t follow. Quitters. We didn’t know any better…
  14. 14. The experts are wrong Smart people suck. Naiveté.You can do it any way.
  15. 15. “Focus!” The four letter word in business. Advisor.
  16. 16. Finally, know this… Vision. Canvas. SCARCE. Go to your happy place.
  17. 17. 9 morsels for entrepreneurs I’ve learned the hard way
  18. 18. Questions?!! Bring em’!
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