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Jim McDermott's work experience starts in 2004 when they worked as an Associate at Ernst & Young. Jim then co-founded Lakeview Healthcare Systems, Inc. in 2006 and served as a Co-Founder until 2009. In 2005, they co-founded Tileworks Inc. and served as a Co-Founder until 2011. In 2009, McDermott started their own company, McDermott Holdings LLC, where they are currently the President. Most recently, in 2019, they co-founded LALO Tequila and currently serves as the Co-Founder & CEO.

Jim McDermott attended the Texas McCombs School of Business from 1999 to 2004. During this time, they pursued a Bachelor of Business Administration (BBA) degree, as well as a Master of Public Accounting (MPA) degree with a specialization in Accounting.