To be able to compete with the giants in the VOIP industry, you must offer low prices to the users in addition to using multiple revenue sources. First of all, you will need to determine your rates, start up costs and marketing ideas to promote your new VOIP business. Consider preparing a plan that will feature balance sheets for costs and expenses as well as the revenue for the first five years. You should be able to draw profit projections based on revenue expectations.
The initial venture capital process can be sidestepped by applying for business loans and using personal savings. You may not be able to find a venture capitalist in the first year of business since your potential profits levels will be too low. Anyway, your Voice over Internet Protocol Company should have enough money for initial marketing campaign, buying software and other IT applications.
You will be required to obtain a VOIP business license from the local state office. Without an appropriate business license, you will not be able to run you business in your region. Your application should include any technical issues like the service standards you will be following and your website bandwidth for best customer services. Depending on the state you are living in, you could be asked to connect 911 calls to hospitals, fire stations and police.
Consider outsourcing the VOIP software development to a company that deals in VOIP applications development. Make sure the company has a good reputation in the market so they could take you through the process.
Recruit IT professional to look after the VOIP software. You may also need to hire a front desk office and web developer to update you website on a regular basis. Develop an effective social media marketing plan to promote your business.