Failure shouldn’t be something one thinks about when starting a new business but according to leading studies, one in five business start-ups close down within a year.
Most SMEs fail because of fundamental shortcomings in their budgeting and business planning. The fact is, forecasting must be realistic and based on accurate, current information and educated future projections.
More importantly, with the current unstable political and economic climate, small businesses are reluctant to tie themselves into to expensive service contracts that they can’t get out of. Signing long-term contracts is any small enterprise’s biggest mistake, especially for business phones.
A robust phone system is the lifeblood of any business as it has a significant influence on customer acquisition and retention. Small businesses need to choose and invest in a professional, all-inclusive telephony system that can provide a reliable high-tech communication infrastructure. But business should avoid being locked into a dodgy phone deal that they cannot escape from.
“We’ve adopted a kill the contract approach,” says Euphoria Telecom director John Woollam. “Most business phone providers lock their clients into lengthy contracts that normally run for 3 – 5 years. Once signed, there is no motivation to solve customer problems quickly and effectively.”
“But our system and our service bring our 3500+ customers back to us month after month. We are driven to deliver on our promises, because if we don’t, then we will lose valuable clients as they are free to go elsewhere,” he adds.
Woollam advises that one should not be misled by rental contracts either. “These are as binding as long-term contracts, but often even more costly and harder to exit. And the actual hardware gets older with time so it becomes outdated compared to our offering which is constantly improving and adapting to new technologies and is therefore always relevant.”
Euphoria Telecom provides comprehensive cloud-based business phone system with all of the expected flexibility and scalability. Customers only pay for what they need and they can pick and choose additional services – like call recording – as they require them and this can be changed at any time as the business grows.
“We are moving into a subscription based business world – think Spotify – where people are happy to pay as long as they are happy. The moment that ends – they’re out. And that’s better for improved service, for sure,” says Woollam.
Euphoria’s 30-day contract is proof that the company is committed to ethical and efficient customer service. Best of all the system is 100 percent transparent as reporting happens in real-time, so customers will always know exactly how much as well as when and where they are spending money.
John Woollam, Euphoria Telecom Director
This article was published in partnership with Euphoria.