European Business magazine has recently announced that Telecom plus PLC is the fastest growing company in Europe. This is a prestigious accolade and one that represents the successes of the company over the last few years, and is indicative of where the company is headed. Don’t let this fantastic opportunity pass you by, Telecom plus PLC is going places and we’d like you to join us.
Europe's hot 100“Year in, year out, they pile on double-digit sales growth. And never fail to make a profit. They’re Europe’s elite. They’re alert, entrepreneurially-driven and determined to make it happen for their shareholders.
It’s the European Business HOT 100, the seriously accurate ranking of Europe’s fast-track profiteers. While BusinessWeek’s Top 100 in October allowed members of Brussels-based Europe’s Entrepreneurs for Growth “to nominate themselves for the ranking”, our HOT 100 only recognises companies whose performance has been proven.
We employed a top analytical team to trawl the audited accounts of thousands of stock market-listed companies. And we turned the financial screws on them time and again, demanding more and more, until only 109 remained - only five of which were in BusinessWeek’s ranking.
Telecom plusThe founder of Telecom plus says it is his passion and entrepreneurial ambition that has helped drive the company to the top of this year’s survey. The unorthodox business has been locked in a David and Goliath battle for market share. It relies on customers’ word of mouth to promote its discounted telephone, internet, gas and electricity services.
Chief Executive Charles Wigoder, 44, (left) believes “businesses that are run with inspiration and imagination are invariably more exciting and successful places to be.”
Chief Executive Charles Wigoder, 44, believes “businesses that are run with inspiration and imagination are invariably more exciting and successful places to be.”
He is a seasoned telecoms executive who also has worked as a securities analyst and chartered accountant. He is a sharp-minded businessman who is not afraid to speak his mind.
“What differentiates me from my competitors is my personal involvement in Telecom plus – Telecom plus is my passion,” he says. “My success as an entrepreneur will be judged by the size and profitability of the business I build and I find it enormously satisfying to compete successfully against large multinational companies with far greater financial resources than ourselves.”
He also has talents outside the corporate world. This year he won a major international bridge tournament in Las Vegas competing against the world’s top players. In just over five years, his business has amassed nearly 200,000 domestic and small-business customers, 15,000 of whom sign up new customers in return for a residual income and cheaper utilities.
Trading as the Utility Warehouse Discount Club, Telecom plus is a “virtual” retailer, so has no shops – just a call centre and 180 staff to provide back-up. Low overheads allow Wigoder to offer cut-throat rates, driving average sales growth of 39% over the past three years. “The secret of our success has been our unique business model,” he says. “We also have the ability to move quickly to take advantage of opportunities.”
In contrast, competitors are lumbered with bureaucratic management and costly infrastructure, he says. “We are the only entrepreneurial-focused business in a market which is dominated by former state-owned monopoly suppliers.” Unlike his peers, his remuneration comes largely from dividend cheques – another powerful incentive to perform.
Wigoder wants to gain further market share in the UK. So far it only has 1% of a multi-million pound potential.
http://www.utilitywarehouse.biz/ebw.taf?exref=278747Labels: press-articles
posted by Jeremy Tromans at 1/10/2006 11:11:00 AM
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