PODCAST EPISODE 176: Freshbooks CEO Mike McDerment on Leadership, Partners and Coronavirus


Crises don’t stop business planning; rather, they just become a part of the agenda. This week, Paul & Cory get a moment to chat with CEO Mike McDerment. Mike speaks on the important components of projecting outcomes and making decisions at this time. He also explains what makes Freshbooks different than its competitors, as well as what is happening along the front-line of business strategy amidst COVID-19.


  • 00:35 – Paul & Cory welcome to the show
  • 02:32 – Introduction to Mike McDerment and what his life looks like right now
  • 03:17 – Kick-Off questions for Mike: how Freshbooks got started
  • 06:01 – How Mike got through the 2008 financial crisis
  • 07:40 – Don’t put your faith in a spreadsheet
  • 09:53 – What to do before you make your projections
  • 13:09 – Mike speaks on the Co-Founders roles, and business scaling
  • 16:49 – A message from Sound Financial Group (Commercial)
  • 17:49 – Cory Welcomes us back to the show
  • 18:20 – Making your own decisions
  • 21:28 – Making decisions as the business evolved
  • 24:18 – What makes Freshbooks unique: every employee does this one thing
  • 25:04 – What type of business should consider using Freshbooks
  • 26:53 – What is going on in the business front reacting to COVID-19
  • 31:51 – Paul shares his take-away’s from the show
  • 33:45 – Show ends, thank you for listening



Curious what you can accomplish with our help? Schedule a free 15 minute meeting with us! https://go.oncehub.com/SFGconnect

Learn More about Freshbooks at Freshbooks.com

Sound Financial Group’s Website for a Financial Inquiry Call – Info@sfgwa.com (Inquiry in the subject)

Your Business Your Wealth on Instagram

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Sound Financial Group on LinkedIn

Paul Adams on LinkedIn

Cory Shepherd on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork: Design Your Business to Run Itself

Mike Michalowicz’s Book – Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

Loserthink: How Untrained Brains Are Ruining America


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Contains a sample of “King” by Zayde Wølf courtesy of Lyric House.


Podcast production and show notes by GreaterNorth Productions L.L.P.

Recorded using Switcher Studio: sales@switcherstudio.com