FreshBooks is not changing it's name - we are changing the way we describe our services. Why? When we started almost 10 years ago we only offered online invoicing. Since then we have added things like the ability to track expenses and a profit & loss statement. As a result our customers have started calling us cloud accounting, so we are changing the way we describe ourselves to reflect that, and to better signal what they can expect from us going forward.
I wrote a very long letter to our customers about this. I encourage anyone interested in getting more clarity to please read it in its entirety. Here's the link:
Startups exist in Canada, but there are only a few markets that are starting to develop quickly (Toronto, Montreal and Vancouver) - none of which is as active as San Fran. The Valley is a unique place, but let's not forget, most companies are not started there.
i've been asked to sign on...and honestly I am wrestling hard. In principle - as a Canadian Entrepreneur - I am for it. But, it's hard for me to imagine many scenarios where it works. What kind of non-Canadian entrepreneur still has 30% of the company after raising $150? I wish it were true that it would work this way all the time, but the odds are really slim IMO. If it is, chances are we're talking about someone who has "done it before", and in those cases they likely have more freedom to move around and don't have the same need for VISA. It seems to me a like misdirected energy. And how about a program that incents talent to come home? That's something I'd love to see today.
you are asked to pay a monthly fee. you can use up to three for free for as long as you like, but as soon as you need to manager four at the same time you are prompted to a paying account.
we've changed prices four times over the years...your learn something new all the time, and we are constantly testing new things. Though...i'll tell you something...we tend to test a million different pricing page designs, and rarely change our whole pricing model. that said, the real lift comes from changing your model - not your design...and I guess this article proves that out as well.
This is an amazing post. I've been at it for 7 years at FreshBooks...experience tells me patience is more valuable than most people building start ups want to believe.
I'd just like to say, posts like this one are why I love reading Fred's blog...somehow he uses his blog to be my mentor...in life and in business...didn't think a blogger would ever do that for me and it's not something I feel about anyone else I read.
Most web based applications will help you manage your accounting through the year (invoices, expenses, etc), but you will still want to hand off your records to an accountant to sort out taxes and generally get counsel.
Xero, Freeagent, Less Accounting and FreshBooks ( <- Disclaimer: I work @freshbooks) are all solid resources that - to the best of my knowledge - will work in India.
I am a big fan of data, but there is no substitute for talking with your customers. I had to choose just one, I’d take customer knowledge over data because it will tell you what’s next, and why…data will just tell you what’s better without explaining why, so it won’t show a path to the next breakthrough, or lead you to product market fit.
- mike