Steps to Starting Your Own MVNO

Running an MVNO you have started is not a simple task. This does not mean you should stop pursuing this kind of business. All you need is to have steps that can ensure you do not fail before you begin. So what do you need to know?

Starting Out

An MVNO, like any other business, is risky. Clients will expect you to provide several services that will not fail from day one. With this in mind, you need to know the exact needs of your prospective customers before you begin. Once you understand their needs there is a need of being nimble in your response to maintain the current clientele while winning new ones.

The only way to succeed in starting is ensuring you make meticulous preparations. In essence, you need to have the following three things:

• A strategic and effective plan to allow you to reach your proposed target segment. This should include how to package and offer services to successfully get your message out there.

• Access to technology that will enable your business to deliver the services your target clients require during the kick-off.

• You also need to know how to quickly adapt your portfolio as demand for new services arises.

Crafting a Plan

Considering the specific dynamics of a market you are trying to reach is a complex task. Generally, there are two ways you can efficiently compete with your competitors.

The first step involves an intimate understanding of a particular set of clients. Access to detailed client information will help you better tailor services to suit their needs. For example, this can be bundling third-party digital services, tailored pricing and offering specific communication services to create an unparalleled service experience.

Secondly, you need to consider new services or a different way of offering your current services. As an MVNO that can identify pricing models, packaging solutions or services, you are on the right track to win clients from a wide range of various segments.

When you craft such a plan, you have made a crucial step to start your MVNO. You should not relax at this point. You need to make sure you learn from your clients to consistently improve your services.

Finding and Getting the Technology Required in Place

Once the plan has been crafted to perfection, the next step is ensuring you have access to technology that will efficiently work with the plan. The technology needed in this case includes those that are initially required and services you may require for you to grow as the market changes.

When you are selecting your technology platform, you need to make sure you will gain sufficient control and assistance over service configuration and creation. The telecom market can change at any time. It sometimes moves quickly, sometimes in a matter of hours. As an MVNO, you need to make sure you set up with a platform that will allow you to receive updates to your service packaging and portfolio as soon as they arise.

Bottom Line

At Telgoo5, we have the experience and professionalism required to help you start your own MVNO business. Our current clients regularly express their happiness in their decision to use our service to start their MVNO businesses. Contact us today so we can help you start an MVNO business that will not fail.

How to Start a Successful MVNO Business

Every day more and more people are turning to mobile devices for daily tasks. These devices help people with many aspects of their daily lives using IoT and apps. An MVNO is a business that ensures it supplies clients with great speeds. If you want to start an MVNO business, there are several things you need to consider:

Get the Right MVNE

The only way your MVNO business can succeed is by ensuring you use a good network. The right partner will ensure you have the tools to manage subscribers, manage the services you offer and have a good platform for efficient reporting and financial flexibility. You should get an MVNE with a lot of experience as it will be integral to the success of your MVNO business.

Pay Attention to Technology

Research by various MVNOs shows that 49% of survey respondents have indicated they will invest in technology soon. Once you have planned your business, you will know the technology you need to use. This is when you will need to do some research on what services are available.

For instance, you will need an analytics tool irrespective of the size of your business. Take note there is no point in investing in a business that does not generate meaningful data. There are companies, such as Telgoo5, that have developed robust analytics solutions. You and your clients need data that is complete and accurate.

Use Your Users as a Base for Your Business

The majority of technology companies have a weakness in which they base their business on the company’s own needs and desires rather than those of their client. For your MVNO business to succeed, you must understand that the services your business provides must be geared towards your clients. Things to consider include but are not limited to, customer service, operational processes, value-add bundle, and helpful products.

Optimize Marketing Efforts

Every business needs a strategic marketing plan. Without marketing, your business will fail before it starts. For an MVNO, you need to plan marketing initiatives based on your value proposition and user persona. You should consider doing things that other MVNOs do not do. This way, you can challenge and beat your competition, while reaching your particular audience. High-quality marketing will always guarantee an ROI (Return on Investment).

Focus on Operational and Customer Excellence

Do some research on successful businesses, MVNOs or not. For instance, companies such as Apple and Amazon have ensured their customers expect a certain level of service. These clients have zero tolerance for operational hold-ups and glitches.

With this in mind, you should ensure your clients get the best speed and excellent service. If your MVNO does not provide this, customers will switch to one that does. Support features such as a dedicated call center is a of necessity to run an efficient MVNO.

Bottom Line

All the above are major factors you should consider when starting an MVNO. The demand for MVNOs is consistently on the rise and is expected to grow. Starting such a business is a great opportunity for success.

The business will be successful as long as the focus is kept on the user and you have solid planning. Contact us now so we can help you start an MVNO business that will challenge and surpass the rest in the market.

Step By Step Instructions For How To Start Your Own MVNO

It’s hard to underestimate the importance of MVNO virtual network operators in the market. They are starting to outpace traditional providers and it’s really no surprise why! They offer customers tailored solutions, are generally less expensive, and can focus on niche markets.

It’s only logical that MVNO solutions are emerging as a powerhouse in the telecom space. Today’s customers require an unprecedented level of choice and customization, and smart MVNOs understand how to make that happen. That being said, starting up your own MVNO is a little trickier than it might seem!

Understand The Start-Up Funding Costs

You will need some capital to start up your own MVNO. There is a lot more that goes into it other than simply purchasing airtime and data. You need to partner with a company that will provide you with the support infrastructure to keep your customers happy and your business flowing. After all, you’ll need to field customer calls, implement a billing system, and account for emergencies like loss of service.

Funding is critical, so start thinking about where it will come from. There are several routes that you can take to get the money that you need to start up your MVNO.

• Angel Investors and Venture Capitalists- if you go this route, you’ll have to have a solid business plan in place that will show your investors how they will make money on the backend. Angel Investors and Venture Capitalists are not altruists, and they want to see a clear return on their investment. Scoring venture money is great, but you need to have all of your ducks in a row.

• Crowd-funding- you can go on any number of different crowd-funding platforms to try to raise money organically. You’ll have to present a tangible reward for people who contribute, so consider what you can offer carefully. Perhaps it’s the ability to get in at the ground floor, a few free months of service, or even a small share in the company.

• Self-funding- if you are able to swing the startup costs yourself, do it!

Know What Sets Your MVNO Apart

Like any other business venture, successful MVNOs rely on the ability to speak directly to their niche and deliver products that they want. Think about who you want to target and offer plans directly for them. For example, if you’re targeting Millenials, you might want to have plans that are heavy on data and texting, but lighter on actual phone call time.

Additionally, think about your niche when you choose an outsourcing call center. If your customers have concerns, and they will, you’ll want to have reps who can speak with them in their language. Millennials value instant gratification, so call center employees who can use Live Chat and Social Media will be better equipped to deal with their needs. (v)WeCare reps are skilled in all new technology, which is what makes us a great partner for companies that want to reach younger demographics.

Find A Good MVNE

Finally, you’ll need a supportive partner that can handle all of your back office outsourcing needs. The last thing that you want is for your customers to suffer because you don’t have your administrative ducks in a row! Get yourself an MVNE that can support you on the backend.

Don’t try to take on MVNO billing, customer service, and all of the other infrastructure needs that go with running a successful MVNO on your own. In the best case scenario, you’ll burn out. The worst case scenario is that customers will flee and give you terrible reviews. Not working with a quality MVNE can sink your business. Telgoo5 has years of experience helping MVNOs scale effectively while handling all customer needs from soup to nuts. We deal with billing, customer problems, security, and infrastructure. Our comprehensive MVNO billing software is really second to none and offers seamless billing with all customer data backed up in the cloud. We also conduct weekly calls with all of our MVNO partners so you’re always in the loop. If you’re going through a rapid scaling phase, we’re flexible, equipped and able to transition smoothly. Our mission is to make you look like a superstar to your customers, and we have a proven track record of success! Telgoo5’s billing system was designed to be all about you- our trusted partner!

Starting an MVNO can seem a little bit daunting, but it’s doable if you follow the steps outlined in this article. Why not be on the cutting edge of a brand new industry?