How to start a vOIP BUSINESS? A 7 STEP GUIDE for 2021

How to start a vOIP BUSINESS
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Are you passionate in learning how to start a VOIP business? Studies show that VOIP is among the most profitable emerging businesses. Expenditure on communication is over billions of dollars every single month. With the current statistics, it can be seen that it is a lucrative business. In this article, we will give you a brief insight on the industry so you can have a pool of information before you jump in.

 A STEP BY STEP GUIDE on How TO START YOUR VOIP BUSINESS:-

UNDERSTANDING THE TECHNOLOGY:-

VOIP stands for voice over internet protocol. Apps like Zoom and GoToConnect  that offer calling facility over the internet fall under the VoIP business category. In the VoIP business, there are many terminologies used like Codec, SIP, DID, etc. Make sure you do your homework and know the meanings of these basic terminologies before jumping on to the next step.

PICK A NICHE:-

When beginning, you should be well aware of your strengths and weaknesses, financial position, and your contacts before planning out your business model and picking a niche. The VOIP industry is a rapidly growing industry with many business options like

  • Call center solutions
  • Mobile VoIP
  • Residential VoIP
  • Call shops 
  • SIP trunking etc.

Before deciding on a niche, you should have thorough insight and technical expertise on your preferred niche, so you can deal with any problem that may arise.

BECOME A RESELLER

When starting a VoIP business you have two options, either become a reseller or a service provider. As a VoIP reseller, you can buy VoIP services from a trusted provider and then sell them under your name. You have a few options when deciding to become a VoIP reseller such as,

  • VoIP dealer
  • Reseller for a  wholesale VoIP provider.
  • Self-sufficient VoIP reseller

For a newbie, it is recommended to become a reseller as it has more pros than cons.

PROS

  • A reseller makes a profit by reselling VoIP products and services
  • It requires a small investment which is great since you are just starting out
  • VOIP is an online business so there are many security threats but by being a reseller these threats are minimized to a great extent.

CONS

  •  The VoIP reseller makes less profit than the provider which is the only con in the situation.

 On the other hand, by choosing to be a VoIP service provider, you have to set up everything from scratch, like buying and building your system. It provides you with much more flexibility, but it may not be a good idea if you have limited financial resources and expertise. As a beginner, it is highly recommended that you should start your business as a reseller. Once you gain experience and capital, you can launch your business. Here are a list of VOIP companies that you shall consider for reseller program.

FIND YOUR TARGET MARKET:-

After picking your niche, it is now time to find your target market. It is preferred to start with local clients and expand your target market when you feel your business is ready.

FIND A TOP NOTCH SERVICE PROVIDER:-

When you provide VOIP services, a key factor that can help your business to reach new heights is to find a top-notch service provider. A dedicated hosting provider without customer complaints and service availability issues is bound to ensure a smooth experience.

FINDING CLIENTS:-

After going through all the nitty-grittys, it is now time to spread the word. For any business to succeed, it needs to have a strong marketing strategy to attract potential clients. You need to ensure that you provide services and products with extensive features at the bare minimum price, so you can score clients and keep your business afloat.

GROW AND EXPAND:-

After establishing a wide client base, it is now time to gain valuable feedback. This will help you to improve the quality of your services and grow as a business.

Once you learn how to start a VOIP business, the important thing is to take the initiative. Understand the technology and assets you need, get your financing, and launch the business with faith and spirit.

You might also like reading:

How much money do you need to start a business?

Business 101 – Full Startup Guide 2021

small business legal requirements for 2021

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