Small business articles and tips

Opening a small business is no easy feat. Keeping track of multiple moving parts takes ample concentration, leaving little time for future planning as your business taxis for takeoff. Dan McKeen, Senior Vice President of Small Business at Bell, has seen the same story unfold all too often: Small businesses focus so intensely on short-term goals that they end up losing sight of long-term growth – a misstep that comes with consequences.

We sat down with Dan as he breakdowns the most common telco mistakes new businesses make and tips on laying the groundwork for future success.

Mistake #1: Thinking here-and-now, not if-and-when

Here’s the truth: Small businesses often launch without considering what their future growth will require. They make decisions that directly impact short-term goals without considering whether or not those decisions allow ample room for a quick ramp up in order to achieve sustainable position quality.

Dan’s advice: It’s important to start out by defining not just your current business model, but what that business will look like 12, even 24 months from now. By developing a clear understanding of your present and future needs, you’ll be better positioned to find a service provider that covers both and can grow with you.

Mistake #2: Investing in services that match today’s needs

Not anticipating future growth can cause financial impact down the line when it comes time to expand. Think of it this way: If you buy a one-bedroom house even though you plan on starting a family, you’ll be shelling out the cost of a home expansion once the kids arrive. At that point, you may be asking yourself why you didn’t buy a bigger house right from the get-go. True, it may have seemed too big at the time, but anticipating your future need for space would allow your family to grow more comfortably, not to mention more affordably. Bottom line, re-work can be very expensive.

Dan’s advice: Go from reactive to proactive. Make decisions using both short-term and long-term lenses and evaluate the cost differences associated. If you crunch the numbers and find that investing in a service you’ll grow into is too costly, then maybe re-work is the route you should take. That said, 9 times out of 10, the incremental cost of re-work is often the more expensive option.

Mistake #3: Buying a one-size-fits-all-small-businesses service

Many telco providers offer standard small business packages, but not all small businesses are alike. Some localized businesses often only require landlines, compared to those who are mobile and working outside the office. Think real estate agent versus corner store owner. While a one-size-fits-all plan would cover both, it would not be custom-tailored to meet their most important needs head-on (and possibly save them some money).

Dan’s advice: Start out by gauging your activity level – where does your business sit on the stationary vs mobility scale? What about your size – do you anticipate growth in the next couple of years? Remember that business realities can quickly change. While your business may be more mobile right now, the bigger you grow the more grounded you become, meaning you’ll need a flexible service plan that meets your changing needs.

Another point to consider: it becomes costly and time consuming to switch service providers once you outgrow your current one. It’s smart to go with a business leader who offers multiple services in multiple sizes – one that can adjust and change as you change.

Mistake #4: Going with the least expensive option

Purse strings are tight at the beginning of any new business launch, and many small business owners save money by going with low-cost service providers and products.

Dan’s advice: There’s a difference between being cost conscious and not investing in success. New businesses should avoid scrimping on the services that make their business grow and have a direct impact on revenue. Investing in a good quality, reliable telco provider is a revenue generator in itself.

Bell Small Business offers you the superior tools you need to work more efficiently, which in turn generates more revenue. In fact, Bell has purposely steered clear of low-cost options since we know that the sacrifice in quality doesn’t match the real needs of small businesses.

In the end, that extra reliability pays for itself: Bell Small Business has been voted Number 1 in Canada for telco services year after year by small businesses from coast to coast. We take care of all your telco needs, letting you spend your time where it’s needed the most: growing your business.