28 Tips to write GSM Shortcode Business Plan

GSM Shortcode Business Plan: A business plan refers to a written document that comprehensively outlines what your business is, where it is going, and how it will get there.

The business plan outlines in specific terms the financial objectives of your business.

And how it will position itself to achieve those goals in the context of the current market environment.

In addition, the business plan is an indispensable tool to attract business capital.

This article will outline how to create one step-by-step.

Do you have any well-written article you would like to publish on BusinessHab? You can request publication of your article for publication by sending it to us via our Email below. Do You Have any information to share with us? Do well to contact us on Email below.

See also: How to Advertise Your Home Business Online

GSM Shortcode Business Plan
GSM Shortcode Business Plan: https://www.nairaland.com

Read on: 9 Tip to Start Cocoyam farming

GSM Shortcode Business Plan

1. the Overview:

Businesses do not usually succeed in the long term based on coincidence, luck, or even just hard work.

All of those can help, but the most successful businesses are the product of strategy and forethought.

A business plan is important for securing funding for your business, and it also provides a road map for development.

It is important to have a plan if you are building a new business from the ground up.

It is equally important, however, for someone working to expand an existing enterprise.

Finally, it is important to have a business continuity plan in place in case your business ever experiences a disaster.

2. What is a GSM Short Code?

All things considered, it is a 5 or 6 digit telephone number which GSM clients can send some data to.

You can get it from organizations that offer short code opportunities in Nigeria.

You can’t get it specifically from MTN, Glo and so on.

The way individuals that subscribe to a shortcode are charged is unique in relation to the way they are charged when they message GSM numbers.

Shortcode have the accompanying rate, N30, N50, N100.

The rate is the broadcast activation fee that will be deducted at whatever point anybody react to the code.

See also: Top 30 Online Hair/Beauty Business Promotion 

3. What is GSM Shortcode Business?

Well, you may not comprehend what I implied by GSM shortcode Business or marketing.

GSM Shortcode business it basically implies sending short SMS via 5 to 6 digit numbers for business purposes like 33440, 12235, 11667.

However, am certain you have been accepting such messages on your MTN, ETISALAT, AIRTEL or GLO line.

In all actuality, such messages can be called SMS marketing through short codes.

I am certain you may get a kick out to begin such business at this moment.

Setting up SMS Short code can truly change your life and take care of your budgetary issues.

However, such administrations must be setup by couple of SMS short code suppliers.

I will list these beneath for portable systems like MTN, Etisalat, Airtel or Glo.

Yet, don’t stress I will control you on the best way to get it should you have a craving to begin SMS marketing.

GSM Shortcode Business Plan

4. Set your goals.

Your first step is to set goals and objectives.

This is true whether your are starting a business from scratch or writing a plan for an existing enterprise.

Spend some time brainstorming ideas and thinking about what you hope to achieve.

  • Many people find it helpful to brainstorm in writing.
  • You can write a short essay or letter to yourself about your goals.
  • Or just jot down a list of ideas on some scratch paper.
  • There are many important questions you should consider as you think about goals. For example, how much revenue do you hope to make in a year, or in five years? How many employees will you need? What area(s) will you operate in? Do you ever plan to sell the business, or go public with it? You should consider all these questions and more.
  • Think of this first step as planning your plan. Try out different ideas and use your imagination.

Read on:21 Tips to Write Online Diaper Business Proposal 

5. Consider your financing.

How much money will you need to achieve your goals?

How will you get the funding? These are questions to consider carefully in the early stages of planning.

  • Any source of funding has benefits and drawbacks.
  • Some might require surrendering some control over your business.
  • Others involve paying interest. It is important to consider your various funding options early.

6. Think about the purpose of your plan.

What you plan to use your business plan for can have important consequences in the way you craft your document. Decide what function(s) you hope the plan to serve. For example:

  • If you are going to use your business plan to raise money, you will need to focus the plan on how the company will make a profit. You should emphasize how it will cover expenses, and why this business is likely to succeed.
  • If you are going to use your business plan to attract talented employees, emphasize what makes your business a good place to work.Focus on location, compensation, work environment, etc.

Read on: 22 Tips to Become Petroleum Economists

GSM Shortcode Business Plan

7. Collect some information.

Once you’ve settled on the big-picture idea of your business and business plan, it’s time to do your homework.

Spend some time collecting any information you can that can help you move your thinking from the general to the specific.

  • For example, collect information on other businesses who do something similar to yours.
  • Who are your competitors, how successful are they? What kinds of marketing to do they do?
  • How much do they pay their employees? What laws or regulations govern these types of businesses?

GSM Shortcode Business Plan

8. Create a title page.

The first page of your business plan should be a title page.

It should include the business name, date, and contact information.

See also: 28 Tips to Open Elder & Geriatric Care Centre 

9. Write the executive summary.

The executive summary is the first section of your business plan.

And should summarize the entire document.

If you have never written a business plan before, you may want to do this last, even though it comes first.

  • The executive summary should include your business concept.
  • It should also describe your marketing strategy, business structure, and funding sources and needs.
  • It should summarize the entire plan well enough that someone could get a basic idea without reading the whole plan..

10. Write a statement of purpose.

If you are planning to use your business document to seek a loan or other funding, your next section should be a statement purpose.

This section details the amount of money you are seeking, and what you will use it for.

  • Any other details, such as the term length of the loan you are applying for, should also go in this section.
  • If you aren’t using your business plan to seek funding, you can skip this section.

Read on: Top 20 Business That Gives Money

11. Write a business description.

The next section of your business plan should include a description of the industry you will operate in.

It should also include information about the structure of your business.

It should include details about your product and strategies, too.

  • Begin with a short description of the industry.
  • Discuss its current state and future development, citing reliable sources.
  • Next, describe the structure of your business.
  • Describe what it does and its legal status (e.g. sole proprietorship, partnership, or corporation).
  • Discuss your product. What do you sell? To whom do you sell it? How is the service or product you offer different from others?
  • Finally, describe your strategy. What will you do to help your business succeed?
  • How is it different from other similar companies?

GSM Shortcode Business Plan

12. Write-up your market analysis and strategies.

A market analysis requires you to analyze the market you will be operating in in greater depth.Based on this information, you will need to provide some details about how you will sell your product or service.

  • Your market analysis will need to include information about your competitors and their revenues. It will also need to include estimates of how many people make up the market you will sell in. It should also include an estimate of the “feasible market.” This is how many people in the market might actually buy your product. For example, if you are selling premium cheese in the city of Seattle, your total market would be everyone in the city. But, your feasible market would only include the number of people who buy premium cheese.
  • Based on this analysis, you should provide an estimate of what your market share might be. You should also discuss your sales strategies. How will you distribute your product? How will your price compare to competitors? How will you advertise or promote your business or products?

See also:7 Tips to Manage your Business Website in Nigeria

GSM Shortcode Business Plan

13. Do a competitive analysis.

A competitive analysis involves an in-depth look at your competitors.

This section should examine the strengths and weaknesses of similar businesses in your market.

  • This section should include information about how your business will stand out from competitors.
  • It is closely related to your marketing strategy.
  • That means these two sections should inform each other and work together.

14. Create a design and development plan.

This section gives the reader a more detailed look at any new products or services you plan to offer.

  • It should describe the service, or the product and its design, in detail.
  • It should also include your product or service-related goals for the future of your business. Go into detail. This section should provide information on exactly how your business will develop. Include a budget detailing the costs. Consider the full range of expenses that will be necessary to develop your new product or service. You should include everything from materials, to staff, to advertising.

See also: How to Start Palm Oil Investment in Nigeria

15. Write an operations and management plan.

This section should describe how business will function on an ongoing basis.

It should summarize the way this business is run and the division of labor.

  • This part of the plan should discuss the responsibilities of each division of the company.
  • It should also detail the jobs of each member of the management team.
  • This section should also include information on the day-to-day costs of running the business.
  • Consider overhead, staff, materials, insurance, transportation, and any other relevant costs.

16. Include financial data.

The last section of your business plan should be a collection of all the important financial data.

If you are already in business, you should include recent balance sheets, income statements, and cash flow statements.

  • If you are planning a new business, you should include estimates and projections.

See also: Top 11 Ways to Start General Insurance Business in Nigeria.

17. Update your business plan.

Once you’ve finished your business plan, the work isn’t over.

You should update you business plan frequently so that as your business grows, you know what the next step is.

  • At a minimum, you should update the plan annually.
  • A yearly update can help you focus on new opportunities that present themselves. It can also help you recognize the current strengths and weaknesses of your business. This can be especially helpful if you make these updates based on input from customers.
  • It’s also a good idea to make more specific updates on a monthly basis. Every business plan makes estimates and predictions, and every business plan gets some of them wrong. Monthly updates offer you an opportunity to revise your numbers based on experience. For example, imagine your revenue ends up being much higher than expected for several months. In this case, it is probably a good idea to increase your profit estimate for the year. On the other hand, imagine materials end up costing much more than you predicted. You’ll need to make the appropriate adjustments so your bottom-line projections will reflect this.

18. Visit the FEMA website.

An ordinary business plan involves planning for growth and development.

A continuity plan provides important information for coping with disasters.

The Federal Emergency Management Agency provides several useful resources for creating a continuity plan.

  • For example, what if a tornado, flood, fire, or earthquake occurs?
  • A continuity plan can make the difference between recovering and going out of business.
  • FEMA provides templates, worksheets, and other helpful resources for developing your plan.

See also: 20 Tips to Building/Maintaining Solid Financial Ground in Nigeria

19. Write a program administration section.

This section provides an overview of your continuity plan.

It should include the scope, objectives, and assumptions of the business continuity plan.

GSM Shortcode Business Plan

20. Describe the business continuity organization.

In this section, your task is to describe the “chain of command” for your business.

  • This section should describe who handles which tasks, and the lines of authority and management.
  • This way, if someone is unable to perform their duties, you know who is next in line.
  • This section should also include contact information for the each individual employee or manager. This way, you have all this information in one place.

See also: How to Start a Guest House Business in Nigeria

21. Do a business impact analysis.

Consider how disruptions of various severities and lengths will impact your business financially.

This information will help you plan for you might respond in a variety of situations.

  • FEMA provides a helpful worksheet for detailing this information.
  • You should be include it in your continuity plan.

GSM Shortcode Business Plan

22. Describe your business continuity strategies.

In the next section, provide detailed information about how your business could respond to disasters or disruptions.

  • These strategies will vary from business to the next.
  • Spend some time thinking about what your business would need to do to survive the types of disruptions in your impact analysis.
  • Detail necessary materials or equipment your business would need to function and recover .
  • This will allow you or others to prioritize, should it be necessary to replace or recover these items.
  • The FEMA website provides links to several documents to help you consider the impact of various disasters. They also offer some suggestions that can help you manage them.

See also: How to Start Egg Hatchery Business in Nigeria

23. Describe any manual workarounds.

Describe procedures to keep the business functioning if the computer system fails.

  • For example, describe how to process credit card payments, pay bills.
  • Or pay employees without your computer system.

GSM Shortcode Business Plan

24. Detail emergency training.

Next, describe what steps you’ll take to prepare employees for putting your plan into place.

Detail any training, exercises, drills, or tests you will use to prepare the staff.

See also: 30 Tips to Open Talent Acquisition Centre in Nigeria

25. Determine how your continuity plan will be updated.

The next section should describe maintenance and improvement strategies for the plan.

  • It should state how often and under what circumstances to update the plan.
  • It should also describe how to deal with any problems with the plan, should some part of it fail.

26. Write an incident management section.

This section of the plan details how your business will detect and report any possible disasters.

It also describes the criteria for when the strategies you’ve laid out should occur.

  • This section should also include information on how to assess damage.

See also: 15 Ways to Start Work/Family Life Consultant in Nigeria

GSM Shortcode Business Plan

27. Include any other relevant documents in an appendix.

The last section of your plan should include any other important emergency planning materials.

  • For example, if you have a program to assist your employees in an emergency, include documents about this.
  • You can also include emergency response plans or escape routes for the immediate aftermath of an emergency.

28. GSM Shortcode Business Plan

  • There are many software programs that help you write and format your business plan.
  •  Some websites also provide templates online.
  • These tools can help you craft a professional looking business plan with ease.

  • Start each section of your business plan on a new page.
  • This will make the document neater and more readable.

    See also: Top 12 Online Event/Party Advertisement Tips in Nigeria

  • Your business plan should be long enough to contain all the important information.
  • Do not make it longer than necessary. About 20 to 30 pages with 10 pages of appendices is a good length.

  • Keep a copy of your business continuity plan away from your place of business, or save it online. This way, if your business (and maybe your work computer) is destroyed, you can still access this information.

  • You may think you will never need a continuity plan. You may not ever be the victim of a disaster. However, it is better to have one and never need to use it than to find that you need one and aren’t prepared.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like