Project Everest

[Experiment Results]: Microenterprises - Offer Test - Microfinance Fiji July 2019

[JUL 19] Offer Test Experiment Results - SoCon 1 Fiji

 

Reference to experiment post: https://projecteverest.crowdicity.com/post/1805560

 

Lean Phase: UVP

 

Assumption: Micro-enterprises in Fiji are willing to meet with PEV to understand and discuss methods and solutions to financial management. 

 

Time Box: 2 weeks

 

Success Metric: The percentage of micro-enterprises that find value in a solution to help them with their financial management. 

 

Results:

In this experiment, we have achieved a green light as 62.9% of micro-enterprises would find value in our solution. Furthermore, 52.4% of micro-enterprises were identified as early adopters.

 

Results spreadsheet: https://docs.google.com/spreadsheets/d/15j4a8f93Y5zcNW3Tg8PVcHNc6Do_jP-qMsIhiJVqC4k/edit#gid=683483798

 

Validated learning:

Results confirmed 62.9% of micro-enterprises found value in PEV’s solution to financial management, surpassing our success point of 50%. 52.4% of micro-enterprises identified as early-adopters, who we’ve identified as generally being mature family businesses in the retail industry. Initial meetings empathised and built rapport and established a platform for a future relationship that benefits both PEV and the micro-enterprises. The successful offer test reflects that a majority of micro-enterprises experience problems with the absence of adequate financial management which act as a barrier for them to access a loan. Our solution may potentially be able to help microenterprises grow and diversify their businesses through access to adequate financial management that may assist access to loans. 

 

 

Next Move

From this experiment, we can move on to currency testing and building out a deliverable MVP. More specifically, with collaborating with SoCon 2, we will establish an MVP, then revisit villages around Fiji, both coastal and inland, and offer our MVP to microenterprises in those villages in the final week of July. Should currency testing be successful, we would be able to establish a solution that then can be offered to microenterprises in December.

edited on 19th July 2019, 04:07 by Yayna Lee
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