How to Generate Ideas for a Premium-Rate Number Service - Part 2

In this post I will try to give you some tips on how to generate ideas for your premium rate number service. Now before we move on we're going to revisit an important question that I had asked you earlier:

what type of service are you going to offer people?

Brainstorm this question, and write down every sort of service that springs to mind, every sort of service that you could offer people via a premium-rate number. It doesn't matter how ridiculous or stupid your ideas may sound and seem, get them down!

If you're having trouble, you may want to add some of the following ideas to your brainstorm: you may want to set-up a premium-rate number based advice line, which offers people technical support and guidance on a subject you may have some knowledge on. You might want to set-up a premium-rate number service that helps ordinary people with general problems; problems in the family; problems at the work place; problems with a partner, etc. You might want to set-up a premium-rate number service that provides video-gamers tips on the latest video games in the industry. You might want to set-up a premium-rate number service which gives people tips and advice on how to score with the opposite sex. You might want to set-up a premium-rate based joke line, where you give people great innovative jokes. You could set-up a horse racing or even an adult chat line.

It's also important to think big. Think of "Bid Tv" and other massive operators whom make very large sums of money with premium-rate numbers. In the case of Bid Tv, every potential bidder has to call the show in order to place a bid for the item on screen. The number they have to call is a premium-rate number, so you can just imagine how much money they are making. Of course, not everyone is expected to have their own tv channel, but the Bid Tv' example does indicate what can be acheived with some a little immagination, careful thought and planning. It was the first premium-rate auction channel of it's kind, and it's been a tremendous success. What's to stop you from being the next big thing...

Once you have generated a decent number of ideas, narrow these ideas down. Measure how realistic these ideas are. Can you afford to financially support any of your ideas? Does your idea have a real chance of succeeding? Are your ideas genuinely beneficial to others? Do your ideas have a realisitic chance of making good money. Is their a genuine market for your ideas? How long do you reckon it will take for your idea to be a success. What does success mean to you?

Using the questions above to scrutinize your ideas is crucial to carving out credible ideas. This is type of brainstorming/scrutinisation process is a necessity and beneficial in all areas of business.



Please read my post on the short philosophy of how to advertise your service.

How To Make Money With Premium-Rate Numbers

The thought of making money with a premium-rate number might at first seem somewhat unrealistic and unachievable. In reality, though, that impression you may have couldn't be further from the truth. This site will present you with all the information you need to know about making money with premium-rate number services. So now that you're here, why not go and make a cup of tea, grab a couple of biscuits, and when you return please read on...

The facts are plain and simple: many people around the world today are making an absolute fortune with premium-rate number services. Undoubtedly, it can be a very financially rewarding business venture. The type of venture that can secure ones financial future. Let's be clear though, making money with premium-rate numbers is no new thing; premium-rate number services have been around for over 30 years, and they're still going strong today. Why? Because the premium-rate number market is an adaptable market, a flexible market. A market which continues to meet the needs of its broad customer base. And ultimately, it's a market that continues to make a lot of money.

The premium-rate number market lives, breathes and maintains it's existence within the telecommunications world... Today's world, for the most part, is built on telecommunications. I mean how many people do you know that do not own a phone? I'm guessing not that many, if any.

Wherever you have telecommunications, you'll have premium-rate number services. Wherever you have premium-rate number services, you'll have telecommunications. The two are intrinsically connected. Telecommunication is a fast and efficient and efficacious way of communicating in today's world; so wherever you can provide people with an efficient service via this medium, there will always be an opportunity to make money with premium-rate number services.

Now, in order to make your premium-rate number service a successful one you'll need to know the basics:

1. What Are Premium-Rate Numbers?

Please read my post on what premium-rate numbers are?

2. How to Purchase a Premium Rate Number Online

Please read my post on how to purchase a premium-rate number online.

3. Have an Understanding of How Premium-Rate Entrepreneurs May Fail: How to Lose Your Money with Premium-Rate Numbers

Many people fail in their business ventures because they fail to pay close attention to terms and conditions and so forth - please read my post on how to lose money with premium-rate numbers for information on what you get when you purchase a premium-rate number, how much money you can make with a premium rate number aswell as key terms and conditions that you should look out for before parting with your cash for a premium-rate number!

4. Provide Your Customers with a Good Premium-Rate Service
Please read my post on how to create ideas for a premium rate number service.

5. Learn How to Market Your Premium-Rate Number Service Successfully

Please read my post on the short philosophy of advertising, promoting and marketing your service.

How to Lose Your Money With Premium-Rate Services

The aim of this writing is to attract the attention of those whom maybe considering obtaining a premium rate number or set of premium rate numbers in the near future.

The type of Premium-rate numbers that this blog pertains to are the ones which start with 0906/0908 and so on, the type that usually cost anywhere from 60 pence to 150 pence per minute to call.

These types of premium-rate numbers are regulated by 'PhonepayPlus' and are sold online by various premium-rate number merchants. The cost of these premium-rate numbers can range anywhere from an eye catching £24.99, to well over a hundred, and in even thousands of pounds in some cases.

When you purchase your premium-rate number, you are usually given an online account. You can use this account to monitor how much money your premium-rate number is making. The amount of money you make from each premium-rate number depends on the rates set by the premium-number rate merchant. The vast majority of premium-rate number merchants that I've come across have their rates set at about 50/50, that is, if your premium-rate number costs £1.50 per minute to call, you will receive 75 pence per call and they'll keep the rest.

So, for the average Joe, with a view to making some quick cash, 25 pounds seems like an irrefutably good punt. After all, if I'm using my premium rate number to charge my customers £1.50 per minute, and I'm therby entitled to half of that figure then, surely, I'm on to a straight-forward winner, right?

Wrong, because, as with most cases which involve making money - things are never usually straight-forward. This case is no different... having browsed this site that was selling singular premium-rate number packages for 25 pounds, I was almost about to part with my cash up until I had read the terms & conditions thoroughly (something that you should always do!!!!) to find a few important conditions.

Here is a couple of key conditions that struck my attention:


1. Payment Threshold/Minimum Payout(the amount you have to reach before you are paid)

On this particular site, this meant that if my premium rate number failed to generate 25 pounds per month, I will not be paid a penny, nor will the amount be rolled over to the following month.

They will keep any earnings I make. Ok, this may not seem too bad, but beware: there are many premium rate number merchants who have much higher thresholds thus making it very difficult to earn any money at all.


2. Line Reclamation(we reserve the right to reclaim your premium rate number)

This meant that if my premium rate number failed to generate more than 500 calls a month, for three consecutive months they will reclaim my premium rate number and sell it on to someone else.

So, let’s say, my premium rate number gets 20 calls in month one, 50 calls in month two, and 490 calls in month three; and let’s say, each call lasts on average about 6 minutes at a rate of £1.50 per minute. My premium rate number would have earned £180 in month one; £450 in month two and £4410 in month three. But here this, I won't see a penny of my premium rate number's earning in month three because I failed to generate 500 calls a month for three consecutive months. Consequentially, my premium rate number will potentially be reclaimed and what happens to my revenue? You guessed it, they keep it!

A Quick Word on Advertising Premium Rate Numbers

Advertising/marketing is crucial to the success of most businesses and in the world of premium rate number revenue, things are no different. That’s why you should bear in mind that advertising can be very difficult. Competition in the premium rate number sector (especially those offering adult services) is very fierce. Indeed, you only have to look at the back of a tabloid newspaper to see hundreds of competing premium rate number based adult services. So please bear the competition in mind when considering buying premium rate numbers.


Now, I mentioned two conditions earlier, and I’m sure that you will find more as you dig deep into those t&c’s on your travels. Incidentally, let me stress that the conditions aforementioned, may not necessarily pertain to every online premium rate number merchant; there are so many out there that it would require an investigative pursuit beyond my capacity as a layman with limited resources and time. That said, the essence of this blog is to encourage potential premium rate number customers to really scan those terms and conditions thoroughly, and thus calculate whether or not your new venture is really worthwhile.

So, now that we've covered the boring bits, we can now turn our attention to creating ideas for a premium rate number service.