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Business Plan to Start a VoIP Company, Part I

Posted by Nick Medina on March 11, 2015 at 2:00 PM

Getting into the VoIP business has never been easier.  There are now plenty of platforms and business models to help you get a piece of the action.  Starting a VoIP company may seem overwhelming at first, but it is actually quite simple once you understand the basics.

VoIP services have quickly moved from early stages to mainstream within the last few years.  The adoption of SIP trunks and cloud services has accelerated the momentum to what is a now a $68 billion dollar industry.  In fact, Infonetics forecasts the VoIP and unified communications services will grow to $88 billion by 2018.

Before you decide on the technology and vendors, you need to decide what type of VoIP company you want to start.  You may choose to go with one type of service or a combination of a few.  Here is a list of VoIP service ideas for your new venture: Business Plan to Start a VoIP Company VoIP Innovations

Residential Service
As a residential VoIP Provider you will be providing an alternative solution to the incumbent phone provider.  You may also be able to provide a lot of additional features for one low price as opposed to charging for every feature like traditional phone carriers typically do.

Hosted PBX
Hosted PBX has quickly become the main choice for many small and medium size businesses.  The idea of not having a traditional on-site PBX and paying price gouging hourly fees to change a simple voicemail setting has been a huge money saving benefit for businesses.  This concept has been especially popular with multi-site locations.

SIP Trunks
SIP Trunks have seen the most growth in that last few years.  According to Infonetics, SIP trunks grew by over 50% in 2013 from the previous year.  SIP trunks are basically replacing traditional PRI/BRI lines in many analog PBX systems.  Business can do this by deploying an analog to digital gateway and realizing massive savings by doing so.

Calling Card
The Calling Card business is a smaller niche but a very profitable one.  This type of platform typically requires a specialized switch that can handle the authentication and transactions associated with calling cards.  These type of services may involve physical calling cards you would buy at a store, pinless calling authenticated by Caller ID, ringback services, mobile phone apps, and lots of others new services.

Unified Communications
Unified Communications or UC is quickly becoming a game changer in business environments.  The convergence of voice, mobile and cloud into a single platform is helping replace multiple logins to different sites and vendors.  UC is about creating efficiency, transparency and cost reduction.

While this may not include all of the different potential verticals in VoIP, it encompasses the majority of those services.  Whatever you decide to market, remember that you should focus on your strengths and market differentiators.  If you can do it better or cheaper than the next guy, offer something unique or provide a solution to a common painpoint; you will have a good foundation in establishing your VoIP business.

Click to Read "Business Plan to Start a VoIP Company: Part II, Equipment and Vendors"

To learn more about operating a telecom business, click the button below for a free whitepaper.

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Tags: VoIP, Entrepreneurship

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