Here’s a refreshingly honest post from FreshBook’s Mike McDerment about all the mistakes he’s almost made with his Software-as-a-Service business. Read between the lines and you’ll glimpse the pressures faced by innovative entrepreneurs.
Some nuggets:
I’ve learned to spend 80% of my time thinking about what not to do, instead of all of my time thinking about what we can do.
And my favourite…
Now please don’t get me wrong - there’s still plenty of time for me to kill FreshBooks.
Self-deprecation aside, it certainly seems like he has his head on straight.
(I wrote about the company in the June 18, 2007 issue of Canadian Business, and Rick Spence also took a look at the company a few months prior to that in CB’s sister publication, PROFIT magazine.)
