Project Everest

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Social Consulting

Social Consulting and Finance - Fiji

97 Ideas
318 Votes
206 Comments
365 Subscribers

Bridging the gap between small to medium businesses in developing countries and loan providers.
Vision: Thriving business ecosystem accessible to all.

PROBLEM
Business owners struggle to understand the information required by loan providers to be approved for a loan. As a result, they often have significant delays in getting their loans approved, or receiving rejection, due to the documentation needed.
On the flipside, lenders and financial institutions find it difficult to risk profile their customers, as many of them don’t have the financial reporting and accounting information necessary to justify taking the risk of working with them.
PEV aims to improve access to capital for small to medium businesses and consumers seeking to get loans.

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Top Contributors

  1. Rose Martin
    973 pts
  2. Kurt Michl
    494 pts
  3. Jamie Butler
    351 pts
  4. William Lee
    335 pts
  5. Seif Zakri Stacey
    314 pts

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Lean phase: Channels Assumption : Posters will be placed around Sigatoka town which will attract customers to increase our MVP sales. Time box: 1-2 weeks Success metric: % increase in people who call or email Project Everest to express interest in our product.  Criteria: Obtain consent from shop-owners to advertise our product in and outside of their stores. Also coordinate with the other teams (e.g. Fuel) and make sure that our posters will not be placed near theirs in...

Emma Snow
by Emma Snow
0 Votes
Comments 0
Emma Snow

Lean phase: Channels  Assumption: Based on previous interactions and contact, Merchant Finance (MF) will be willing to agree to a partnership plan and eventually a complete ongoing commercial partnership with PEV where they will refer unsuccessful loan applicants to PEV so that they can utilise PEV’s services in order to be successful for a loan in the future.  Time box: 3-4 weeks Success metric: % that Merchant Finance agrees to all of PEV’s proposed terms in the partnership...

Emma Snow
by Emma Snow
0 Votes
Comments 0
Emma Snow

Lean phase: Customer Segment  Assumption: Banks see the value in our services for themselves and their customers and express interest in future collaboration with PEV.   Time box: 3 weeks Success metric: % of banks that are interested to collaborate with PEV in the future and are keen to hear more about PEV’s services.  Criteria: Trying to create a mutually beneficial relationship with three banks where a referral system is set in place. The aim is to make the banks aware...

Emma Snow
by Emma Snow
0 Votes
Comments 0
Emma Snow

Lean phase: Solution  Assumption: Current MVP users who are not recording their daily transactions are doing so because the MVP is lacking in some form (not easy to understand, or customers do not find it helpful). Therefore, the MVP can be improved by expanding existing features and adding new features (balance sheet, control flow statement, forecast) that are easy for users to navigate and also aid them in obtaining their loans.  Time box: 1 week Success metric: % of MVP...

Emma Snow
by Emma Snow
0 Votes
Comments 0
Emma Snow

SoCon December Handover

Callum Sowden
by Callum Sowden
0 Votes
Comments 1
Callum Sowden

Lean Phase: Solution   Links to the MVP can be found here : Assumption: That expanding and providing additional features to our existing MVP will increase the likelihood of loan approval and make the process easier.    Time Box: 4 Weeks   Success Metric: % of documentations that need to be manually inputted after the updated MVP is implemented Criteria: Improving the MVP to meet each of the financial institution’s (FI) individual requirements in order to help increase...

Billy Goodwin
by Billy Goodwin
1 Votes
Comments 0
Billy Goodwin

Lean Phase: Solution Assumption: In the future, Project Everest Ventures will partner with Merchant Finance or another financial institution to allow our clients to easily obtain a loan.   Time Box: 4 Weeks   Success Metric: Merchant Finance agree to partner with us and offer our MVP as a product to clients who are unsuccessful in obtaining a loan for lack of financial documentation   Criteria: Partnership-- upgrading our product   Green Light: Merchant Finance contracts...

Malaika Sujeesh
by Malaika Sujeesh
0 Votes
Comments 0
Malaika Sujeesh

Lean Phase: Solution    Sales script can be found here :   Assumption: That the client of the MVP is using our services continuously and thus is growing their business by obtaining a loan.    Time Box: 4 Weeks   Success Metric: 66% (⅔) of people who purchased the MVP that has continuously used our service and thus have all the necessary documentation to obtain a loan.    Criteria: To ensure that our clients are continuously using our MVP and the use of MVP will assist...

Billy Goodwin
by Billy Goodwin
0 Votes
Comments 0
Billy Goodwin

Lean Phase: Solution    Reference to Experiment Design post:  https://projecteverest.crowdicity.com/post/2092360   Assumption: The SME owners have been continuously using the MVP from the July team. The SME owners will provide some feedback as to ways to improve the existing product.    Time Box: 2 Weeks   Success Metric: The % of SME that have continuously used the product the July team provided them to track their financial records.    Results:  100% of the SME did not...

Norman Tao
by Norman Tao
0 Votes
Comments 0
Norman Tao

Lean Phase: Solution   Assumption: People are willing to pay a $5 deposit and a $25 monthly for a budgeting system that enables them to grow or diversify their business.   Time Box: 2 Weeks   Success Metric: % of people who were determined to be potential early adopters in July, but never received the MVP, are willing to pay a $5 deposit and a $25 monthly retainer for the MVP.    Criteria:    Green light: Price test features of the MVP, and find what channels...

Callum Sowden
by Callum Sowden
0 Votes
Comments 1
Callum Sowden