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Experiment Design Post : Initial Offer Test: https://projecteverest.crowdicity.com/post/2435970   Result of First Offer Test: https://projecteverest.crowdicity.com/post/2436760   Lean Phase : Customer Segment/Problem; Offer Testing  Assumption : Villagers are looking to reduce the cost of fuel and find a solution for their children’s cough   Results : Following on from your experiment results above, you then conducted another offer test focusing on community meetings...

William Lee
by William Lee (Admin)
n/a
0 Ratings
Comments 1
William Lee
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William Lee (Admin)

Experiment Design Post : https://projecteverest.crowdicity.com/post/2436030     Lean Phase : Customer Segment/Problem; Offer Testing    Assumption : Problems (or a combination of): Scared for child’s health Lack of money to pay for a hospital solution   Results : Channel 1 : Flyers given to mothers purchasing supplies for current solutions their baby 30 mothers were engaged in person at the local market and given flyers with the offer test: “Are you scared...

William Lee
by William Lee (Admin)
n/a
0 Ratings
Comments 0
William Lee
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William Lee (Admin)

Objective : to create and implement a functioning customer relationship management system that can deal with issues surrounding sales, payment tracking and customer service. Why : as we scale, we need to have a software-based solution that automates the standardised processes surrounding sales, payment tracking and customer service. What This Isn’t : this isn’t about designing the processes involved with sales, payment tracking or customer service. What This Is : this is about...

William Lee
by William Lee (Admin)
1 Votes
Comments 2
William Lee
by
William Lee (Admin)
Adopted Experiment

Lean Phase : Solution Assumption:  Given our current risk prevention methods, the default rate on buka stove loans over 4 weeks is around 15%. This default rate must be monitored in order to understand how to further tighten our security requirements.    Time Box: 4 weeks. Success Metric: This experiment is measuring the percentage of borrowers who default on payments. This will be tested with 20 sales of the buka stove in conjunction with the Fuel team in December. Part of...

Adam Metcalfe
by Adam Metcalfe
7 Votes
Comments 4
Adam Metcalfe
Idea thumbnail
Adopted Experiment

Lean Phase: Channel Testing  Assumptions: customers served by the village bank lack access to formal credit, or prefer to access credit through village-based credit systems). Reasons may include the fact that: 1. Distance to a formal institution is too far, or costs too much to visit frequently 2. People were rejected in their application for a loan, and thus excluded from formal credit Time Period: 1 week (or time taken to survey 6-8 village banks)  Success Metrics: 1. % of...

William Lee
by William Lee (Admin)
1 Votes
Comments 3
William Lee
by
William Lee (Admin)
Idea thumbnail
Adopted Experiment

Lean Phase: Offer Testing  Assumption: current sources of informal credit are insufficient to meet demand. This involves proving two things: 1. There is latent demand for loans - i.e. that people are either not getting loans when they want loans, or that those getting loans want bigger loans 2. This is because they have insufficient funds to provide to such potential customers (as opposed to rejecting them on the basis of creditworthiness) Time Period: 1 week (or time taken to...

William Lee
by William Lee (Admin)
4 Votes
Comments 1
William Lee
by
William Lee (Admin)
Idea thumbnail
Adopted Experiment

Lean Phase: Channel Testing  Assumption: interest rates being charged in these village banks provides sufficient margins to operate a scalable business Time Period: 1 week (or time taken to survey 6-8 village banks)  Success Metrics: Based on the interest rate, length of loan, and default rate, we can calculate the gross margin for loaning to village banks (use https://goo.gl/nWENUz ) Criteria: Success Point: gross margin is 60%+               Green Light: proceed to...

William Lee
by William Lee (Admin)
1 Votes
Comments 1
William Lee
by
William Lee (Admin)
Idea thumbnail
Adopted Experiment

Lean Phase: Channel Testing  Assumptions: Village banks have a standardised system of record keeping that tracks: 1. Customer ID 2. Loan amount 3. Length of loan 4. Interest charged over the length of the loan 5. Whether the customer repaid or defaulted on their loan Time Period: 1 week (or time taken to survey 6-8 village banks) Success Metrics: 1. Existence of a record keeping system 2. Completeness/consistency of the system Criteria: Success Point: 70% + village banks...

William Lee
by William Lee (Admin)
1 Votes
Comments 9
William Lee
by
William Lee (Admin)
Idea thumbnail
Adopted Experiment

Lean Phase: Channel Testing Assumption: that consumers are familiar with, know how to use, and are willing to use mobile money as a payment system. We need to prove that: 1. They are familiar with mobile money, and 2. They know how to use mobile money (ideally, they are current users), and 3. They are willing to use mobile money to access financial services Note: these variables are very location-dependent; therefore, it is important to validate this across a strong geographic...

William Lee
by William Lee (Admin)
3 Votes
Comments 6
William Lee
by
William Lee (Admin)
Idea thumbnail
Adopted Experiment

Lean Phase: Channel Testing Assumption: that consumers have access to mobile money as a payment system. We need to prove that: 1. The level of phone penetration is sufficiently high 2. There is reliable network coverage in communities to enable mobile money transfers 3. There is close proximity to a mobile money dealer to be able to convert cash into mobile money for transfer Note: these variables are very location-dependent; therefore, it is important to validate this across a...

William Lee
by William Lee (Admin)
4 Votes
Comments 2
William Lee
by
William Lee (Admin)

Over the past few weeks in Malawi, we have gained some knowledge on informal institutions we are calling village banks. They operate as a savings fund which provides microcredit to its members in the aim of generating savings for the fund, and it's members. There is a detailed explanation on how these institutions work in the post about the village banks; https://projecteverest.crowdicity.com/post/572973. An idea that was generated from the discussion on the village banks post is an...

Kurt Michl
by Kurt Michl
5 Votes
Comments 2
Kurt Michl
Proposal (Operational/Other)

We collect a lot of data at PE, but it isn't always useful. The key to useful data is about data structure,  and how we think about it when designing our surveys. Here are some things to incorporate into survey design. Uniformity is key - if we are collecting the data on similar things across projects or even countries, let's make them the same structure. For example, both the Energy and Agriculture team will likely collect data on demographics - let's ensure that both teams ask the same...

William Lee
by William Lee (Admin)
4 Ratings
Comments 5
William Lee
by
William Lee (Admin)
Idea thumbnail
Proposal (Operational/Other)

In developing countries, accurate addresses are hard to come by. Whether you're trying to find a customer you had a previous interaction with, meeting up with a potential business partner, or reporting a Pri-call - it is hard to communicate your location where streets are unnamed and every street corner looks very similar. Furthermore, currently, there are 4 billion people without an address. A UK-based startup, What3Words has revolutionised this space by dividing the world into 3m by 3m...

William Lee
by William Lee (Admin)
3 Ratings
Comments 7
William Lee
by
William Lee (Admin)
Proposed Experiment
Problem

The Problem One of the core challenges facing the microfinance industry is how to accurately and efficiently model credit scores - in other words,  how can we best predict the whether someone will pay back their loan?  This often comes down to: how much do you know about the consumer (read: what data do you have), and how accurate is this information in telling you about their ability and willingness to repay? Background In the developed world, banks (being the main sources of loans)...

William Lee
by William Lee (Admin)
21 Votes
Comments 12
William Lee
by
William Lee (Admin)
Work Update

Why: understanding market price and its volatility/seasonality is an important issue in any market.  Problem: currently, we collect data in time consuming, labour intensive ways - usually in the form of interviews, and thus fail to get accurate data nor enough sample size to perform meaningful data analysis. Idea: getting market sellers to text through price of *insert product* on a weekly basis to a phone number managed by PE. How to:  1. Recruit a few market sellers in both major and...

William Lee
by William Lee (Admin)
10 Votes
Comments 3
William Lee
by
William Lee (Admin)
Idea thumbnail

Summary The idea centres around addressing inefficiencies of financial markets in developing economies. It aims to reduce the information asymmetry present in credit markets by providing lenders access to financial information of the borrowers. The effect will be to reduce interest rates being charged to small businesses, and allow them to reap greater rewards from financing. It is about making rural credit markets more efficient, by making it more transparent. Current Issue with...

William Lee
by William Lee (Admin)
14 Votes
Comments 5
William Lee
by
William Lee (Admin)
 

William Lee

Sydney, Australia

Joined this community on Dec 22, 2016

University or Company
USYD

Degree or Work area
Business

Country you Trekked/are Trekking in
Malawi

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679