One of the fast developing services in great demand in today's world is the VoIP service. Businesses and individuals who want to cut their phone bills consider VoIP business to be the perfect way in which they can accomplish their goals. Future Market Insights (FMI) forecasts an increase to around 204.8 billion corporate consumers by 2020, accounting for US $86.20 billion in global revenues, thereby increasing the number of individuals willing to start a VoIP business.
However, when these individuals dig deeper into the marketplace and make researches on the internet, most of them get lost in the overload of information they get. Although it may seem overwhelming at first, it is actually not that difficult once you have gotten a hang of the basics. Once you have successfully created your SIP trunks and cloud hosting services, the process of starting a new VoIP business simply gets easier.
So let's assume you are starting your own VoIP business, what are the things you need to know? Where exactly should you start from? Well, this article is here to enlighten you on that. We have compiled all the necessary information you need to start a successful and profitable VoIP business in this article. All you need to do is follow the six steps we have outlined for you below:
1. LEARN THE BASICS OF TELEPHONY SYSTEMS
The first thing you need to do is explore the telephony system. You need to be conversant with what it is and how it works. The truth is that you'll have a better understanding of the telephony system if you have some work experience in the field, but what if you don't have any? Well, since this is the internet age, you'll be able to find information on VoIP specialized websites, or you simply read books on VoIP and attend seminars or webinars that have to deal with the VoIP industry. You can also find someone in that sphere, consult with them and ask them to mentor you. If technology is not one of your strongest suits, you can just find a partner who is an expert in the field.
2. CHOOSE THE RIGHT OPTION FOR YOUR BUSINESS TYPE
The next step you'll want to follow is deciding on the type of VoIP service you'd like to provide. Do you want to go with just one type of service or you'd like to diversify and try a combination of a few services instead? There are a lot of services that are based on VoIP. We have listed every type of VoIP service below for your convenience. Your decision on which is the best choice for your successful VoIP business totally depends on your skills, interests, goals and financial capability. Once you have assessed all of these factors, you'll be able to choose which is best for your successful VoIP business. Here are eight different types of VoIP services you can choose from. You can also find more details on each one of them by reading our special post on the different types of VoIP services available.
- Call center solutions
- Calling cards
- PBX/IP PBX
- Unified communication
- VoIP wholesale provider
- SIP trunking
- Mobile VoIP
- Residential VoIP
3. DECIDE ON YOUR BUSINESS MODEL
You can either be a reseller or a service provider. Of course, everyone goes in with the notion of starting at the highest level, but the truth is, it's not as easy as it seems. A lot of VoIP companies provide renting services for their software. You can also decide to go with the VoIP reselling model as it requires less investment and risk. After you have successfully built your user base and grown your business, you can then invest in VoIP infrastructure and become a VoIP provider. Stay tuned to our next post to get deeper into "8 VoIP Service To Suit Your Business Needs".
4. SELECT A SOFTWARE SWITCH
In case you decide to be VoIP reseller, you can skip this point. But for those of you that have chosen to create your own VoIP company, you need to know that you'll have to invest in telephony infrastructure. The major part is known as software switch (soft-switch), which provides one with the ability to link the calls of clients and providers. If you are going with retail VoIP, you'll need to get a class 5 switch, but if what you're going with is the wholesale option, then a class 4 switch will do just fine. If you cannot decide on which one to choose, you can choose the golden mean, which is a class 4 and 5 soft-switch. It is an all-inclusive solution.
5. SEARCH FOR PARTNERS AND SUPPLIERS
If you are going to run a successful VoIP business, you'll need a lot of resources and services that can only be gotten from competent suppliers. The main resources include voice traffic (termination), DID numbers and powerful servers to host your softswitch. Apart from these three, you'll also need VoIP softphones and applications (residential market), virtual PBX (SIP trunking and hosted VoIP services) and other equipment such as phones, ATAs, or gateways.
6. TIME TO LAUNCH YOUR SERVICE
Once you have completed all the steps listed above, the next thing to do now is to launch your VoIP phone service. You can start with a close group of clients, better known as beta clients, who will provide you with realistic feedback. Once you are confident about the quality of your services, you can begin your sale process, starting marketing campaigns in order to gain more customers. You should also ensure that you constantly review your business plan so as to make the best decisions on savings.
Whatever your choice of market is, remember to put in your all; put your efforts on your strong points and market differentiations. Ensure that you select a service you know you can deliver better than your competitors; offer something unique, something others are yet to think about. Doing this will provide you with a good basis for your VoIP business. In order to run your VoIP business smoothly, you'll also need a reliable VoIP server hosting provider so as to make your VoIP application make more sense.
Now that you have all of this information, you are ready. Go and create awesomely cool stuff.