Guidance / Recommendation
IT'S A JUNGLE OUT THERE!
DO NOT SIGN A CONTRACT WITH A SUPPLIER DIRECTLY.
This is an example of how businesses like yours get caught out every day by suppliers.
COMPARISON
| Broker Contract | Supplier Contract |
|---|---|
| Fully Fixed Price Contract | Fixed Price Contract |
| KWH Fixed | KWH Fixed |
| Pass Through Charges Fixed | Pass Through Charges Variable |
| Taxation Variable | Taxation Variable |
These two offerings may look very similar. In fact, the suppliers contract will almost certainly look cheaper.
However, what it actually means is that if you choose the suppliers contract, your prices will go up every year.
Remember, the right broker will investigate the marketplace to find the best deal, read the terms and conditions of any contract that they want you to sign, advise you of the pitfalls in that contract and make sure you never find yourself out of contract.
If you choose the supplier contract, charges will go up every year that you are in the agreement.
DO NOT UPGRADE ANYTHING ON YOUR ACCOUNT WITHOUT WRITTEN CONFIRMATION THAT YOUR CONTRACT TERM WILL NOT BE EXTENDED.
Telecom companies are valued by the average term of contract that their customers are in.
This has led to companies becoming very sneaky at extending the length of the contract that you are in.
In many instances, merely increasing the speed of your broadband, moving to an unlimited product or the adding of a new service can result in your having unwittingly signed a new 5 year agreement for all of your services.
DO NOT CHANGE YOUR MOBILE NETWORK WITHOUT A TRIAL.
Most business mobile providers will encourage you to change your network each time you negotiate a new contract.
It’s a valid tactic in many cases, networks will pay more commission for connections that are with another provider. This in turn gives you access to more hardware or more funds to buy it with.
If you do decide to change networks, you must check that any key location that you work from has acceptable connectivity and data coverage. Key location might include home, all business premises, pub, etc. Anywhere that you might need to be contactable on a regular basis.
This means you will need to ask your mobile provider to supply you with a phone for a period of time whilst you check the locations before you sign an agreement to change network.
DO NOT BUY A NEW TELEPHONE SYSTEM.
The great news is that there is no longer any need to pay thousands upon thousands of pounds for a new telephone system.
When we set up our office our telephone system, call recording and CRM integration cost in excess of £16,000.
Today, I could have the same set up for less than £2,000 – £3,000 at a push.
The problem is that most traditional telephone system providers are used to the revenues from these sales and are very creative at retaining these revenues.
Always, always, always talk to the market place no matter how long you have been with your current provider.
The world has changed dramatically.
DO NOT CHANGE YOUR SERVICE PROVIDER UNTIL YOU KNOW EXACTLY HOW AND WHEN TO TERMINATE YOUR EXISTING CONTRACT.
The payment card industry is like the wild west. The contracts that businesses have signed over the last few years have been onerous to say the least.
Before you consider making any changes to your merchant status or consider changing your merchant provider, It is important that you check your contractual and termination obligations first.
Do not assume that because you have served the agreed term of your contract, you are free to enter an agreement elsewhere.
There are many clauses around termination that if you do not adhere to, can cost hundreds of pounds in termination fees.
DO NOT SIGN A CONTRACT WITH A SUPPLIER DIRECTLY.
This is an example of how businesses like yours get caught out every day by suppliers.
COMPARISON
| Broker Contract | Supplier Contract |
|---|---|
| Fully Fixed Price Contract | Fixed Price Contract |
| KWH Fixed | KWH Fixed |
| Pass Through Charges Fixed | Pass Through Charges Variable |
| Taxation Variable | Taxation Variable |
These two offerings may look very similar. In fact, the suppliers contract will almost certainly look cheaper.
However, what it actually means is that if you choose the suppliers contract, your prices will go up every year.
Remember, the right broker will investigate the marketplace to find the best deal, read the terms and conditions of any contract that they want you to sign, advise you of the pitfalls in that contract and make sure you never find yourself out of contract.
If you choose the supplier contract, charges will go up every year that you are in the agreement.
DO NOT UPGRADE ANYTHING ON YOUR ACCOUNT WITHOUT WRITTEN CONFIRMATION THAT YOUR CONTRACT TERM WILL NOT BE EXTENDED.
Telecom companies are valued by the average term of contract that their customers are in.
This has led to companies becoming very sneaky at extending the length of the contract that you are in.
In many instances, merely increasing the speed of your broadband, moving to an unlimited product or the adding of a new service can result in your having unwittingly signed a new 5 year agreement for all of your services.
DO NOT CHANGE YOUR MOBILE NETWORK WITHOUT A TRIAL.
Most business mobile providers will encourage you to change your network each time you negotiate a new contract.
It’s a valid tactic in many cases, networks will pay more commission for connections that are with another provider. This in turn gives you access to more hardware or more funds to buy it with.
If you do decide to change networks, you must check that any key location that you work from has acceptable connectivity and data coverage. Key location might include home, all business premises, pub, etc. Anywhere that you might need to be contactable on a regular basis.
This means you will need to ask your mobile provider to supply you with a phone for a period of time whilst you check the locations before you sign an agreement to change network.
DO NOT BUY A NEW TELEPHONE SYSTEM.
The great news is that there is no longer any need to pay thousands upon thousands of pounds for a new telephone system.
When we set up our office our telephone system, call recording and CRM integration cost in excess of £16,000.
Today, I could have the same set up for less than £2,000 – £3,000 at a push.
The problem is that most traditional telephone system providers are used to the revenues from these sales and are very creative at retaining these revenues.
Always, always, always talk to the market place no matter how long you have been with your current provider.
The world has changed dramatically.
DO NOT CHANGE YOUR SERVICE PROVIDER UNTIL YOU KNOW EXACTLY HOW AND WHEN TO TERMINATE YOUR EXISTING CONTRACT.
The payment card industry is like the wild west. The contracts that businesses have signed over the last few years have been onerous to say the least.
Before you consider making any changes to your merchant status or consider changing your merchant provider, It is important that you check your contractual and termination obligations first.
Do not assume that because you have served the agreed term of your contract, you are free to enter an agreement elsewhere.
There are many clauses around termination that if you do not adhere to, can cost hundreds of pounds in termination fees.
