Smart50 rank: 50
Revenue: $5,027,284
Growth: 34.75%
Founders: Andrew Branson, 26, Richard Branson, 28
Head Office: Victoria
Employees: 12
Industry: Telecommunications
Website: www.iftelecom.com.au
It’s not as big as Sir Richard Branson’s Virgin Group but Melbourne-based entrepreneurs Andrew and Richard Branson have made their mark in the local telecommunications sector with IF Telecom.
The British-born Branson brothers’ venture started in 2005 after they noticed SMEs were being ignored by big telcos.
“They (the SMEs) were receiving poor pricing and a sub-standard level of customer service (from other telecommunications companies),” Andrew says.
“IF Telecom believes that we can offer the SME market a more competitive pricing structure and a far higher level of customer service.”
It wasn’t an easy task because the Branson brothers were going up against some of Australia’s biggest companies.
“The most challenging part was winning business against some of the country’s largest and most recognised brands,” Andrew says.
“Companies like Telstra and Optus enjoy huge marketing and advertising budgets while we were completely unknown.”
The pair learned to play to their strengths – by being smaller the company advertised a more personal level of service.
“At the beginning we did experience cash flow problems while trying to grow aggressively,” Andrew says.
“We were piling on sales which meant we were paying out commissions and along with the usual overheads our outgoings were naturally quite high.”
IF Telecom pulled in $5,027,284 last financial year and Andrew gives a lot of credit for that to his staff.
“A company is only as good as the people that make it up,” he says.
“Surround yourself with successful and inspiring personalities and you then have a solid foundation for success.”
IF Telecom has a bright future but where do the Branson brothers want to take it?
“(We want) to keep growing,” Andrew says.
“At the moment our head office is in Melbourne and the majority of our members are in Victoria.
“Over the next 12 months our aim is to open sales offices across Australia and become a true national player in the market.”
