Freshbooks: 7 Ways It Almost Died

by Mathew on August 29, 2008 · 8 comments

I’m a little late on this one because I’m on vacation this week, and my blogging and Twittering metabolism has slowed down, but I wanted to take note of a great post that my friend and fellow mesh organizer Mike McDerment wrote the other day, entitled “7 ways I’ve almost killed FreshBooks.” It’s a list of lessons that Mike has learned during his time as CEO and co-founder of the online invoicing company, and there are some definite pearls of wisdom in there. Among my favourites:

1. Thinking we had to move faster than we did

I remember back in 2005 feeling that if we did not blow our lights out and spend every penny we had on marketing “right now!” someone would obliterate us. I had this impending sense of doom for *years* based on our speed.

and

4. Placing my faith in consultants

Nobody cares about your business as much as you do, and frankly people who are smart – consultant/MBA smart – don’t know your business as well as you do despite the fancy words and references to past success.

and

6. Believing we could not get this far without doing “x”

I remember talking with people back in 2004. Many believed we could not get anywhere without signing a “deal” with a “partner” or taking “VC money” or “whatever”. Here’s my advice: sign the right deals with the right partners at the right time for the right reasons.

Go read the whole thing.

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