November 25, 2020 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

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Starting a TDD/TTY Telephone Service

This advice is written for aspiring entrepreneurs who are thinking about starting a TDD/TTY telephone service. This is a must-read before you open up shop.

Wondering how to start a TDD/TTY telephone service? We take you step-by-step from start to success.
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How to Create a Winning TDD/TTY Telephone Service Business Plan

By now, you're probably tired of hearing how important a good business plan is to your TDD/TTY telephone service startup.

Although it might seem like an unnecessary formality, your TDD/TTY telephone service's business plan is a document that will shape your goals and strategies on a go-forward basis.

Furthermore, a good business plan will help you avoid key startup mistakes. While other startup TDD/TTY telephone services are floundering, your business will be on course for growth and profits, protected by a carefully conceived plan that reflects real world business conditions and your business's unique characteristics.

Investigate the Competition

Before you open a TDD/TTY telephone service within your community, it's a good idea to determine how strong the competition is. Use the link below to get a list of local competitors in your city. After clicking on the link, type in your city, state and zip code to get a list of TDD/TTY telephone services near you.

Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.

Learn from Others Who Are Already In This Space

After you've evaluated your local competitors, it's a smart move to learn from folks who are already in business. If you think your local competitors will give you advice, you're being overoptimistic. It'd be crazy for them to teach you the business.

However, an entrepreneur who owns a TDD/TTY telephone service on the other side of the country will be much more likely to talk with you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.

How do you find an entrepreneur who is running a TDD/TTY telephone service on the other side of the country to talk to?

It's easy. Here's a link you can use to find a mentor outside of your area.

Acquisitions vs. Startups

Unfortunately, many inexperienced TDD/TTY telephone service entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition.

Both ownership strategies have their benefits and drawbacks. For first-time business owners, it makes more sense to buy an existing TDD/TTY telephone service than to attempt to build one from the ground up.

The good news is that a TDD/TTY telephone service acquisition is a recognized name and usually comes with a loyal customer base. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.

Consider Buying a Franchise

Purchasing a franchise ensures that you benefit from feedback and ideas that have been tested and proven over time.

If you planning on starting a TDD/TTY telephone service, you would be wise to determine whether franchising might be worth investigating.

The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.

Other Useful Articles for Startup Entrepreneurs

These additional resources regarding getting started as an entrepreneur may be of interest to you.

LLC Advantages

How to Find Start-Up Capital

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Already Own a TDD/TTY Telephone Service?

If you currently own a TDD/TTY telephone service, these resources will come in handy:

Marketing a TDD/TTY Telephone Service

Selling a TDD/TTY Telephone Service

Do You Sell to TDD/TTY Telephone Services?

If you came here to learn about selling to TDD/TTY telephone services, we've got better information for you elsewhere on our site. These resources are more appropriate for you:

Selling to TDD/TTY Telephone Services

Mailing Lists for TDD/TTY Telephone Services

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