Smart50 rank: 19
Revenue: $2,769,437
Growth: 82.67%
Founders: Andrew Branson, 24; Richard Branson, 26
Based: Victoria
Employees: 10
Industry: Telecommunications
Website: www.iftelecom.com.au
The telecommunications sector is booming, with demand for mobile broadband and faster connections giving the industry high amounts of demand during the downturn.
But for Andrew and Richard Branson of IF Telecom, sharing a surname with a successful billionaire hasn't made running a telecommunications business any easier. The biggest problem?
"Making sure that we don't overspend on sales. We are always very keen to grow but it always had to be done in line with the budget."
The pair are struggling to keep up with the pace of the telecommunications industry. IF Telecom recorded 82% average growth and reached $2.7 million in revenue during 2008-09, with a mission to make telecommunications easier for SMEs.
"Our industry is becoming much more mobile. Mobile broadband is huge and people are using their mobile phones for more than just making calls."
"Having previously been working in b2b sales it was clear that SMEs were not being looked after regarding their telecommunications. The market was flooded with telco companies that would support the residential user and also plenty supporting large business. However, the SMEs were being neglected. They need a company that can offer a top service and deliver them reliable, affordable products."
Branson says they have been riding on a wave of demand through the downturn, but they still have to "keep an eye on making sure businesses stay on top of paying their bills", and have some advice for businesses looking to expand when economic times are tough.
"My number one piece of advice would be to ensure that you have a solid sales plan. How are you going to acquire new customers and then how are you going to keep those customers?"
"Make sure you have a proper plan. On top of that, make sure that you have great people. Reward them well and involve them in the decision-making process."
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