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Activity for Naomi Boulton

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Adopted Experiment

Lean Phase: Customer Segment Purpose: The purpose of this experiment is to understand SoCon’s customer segment in relation to the problem of access to capital, and at what stages of the business lifecycle they face this problem. Assumption: The early adopters of SoCon’s customer segment are characterised by: Business owners actively seeking to access capital for their business whom are likely starting up (in an introductory phase) or a growth/diversification phase of their...

Jacqueline Saykao
by Jacqueline Saykao
3 Votes
Comments 9
Jacqueline Saykao
Adopted Experiment

Lean Phase:  Problem Assumption: There are key barriers for small business owners accessing capital from traditional and established institutions in Fiji. These include: Irregular income and individuals’ inability (or lack of preference)  to repay loans due to the inflexibility of payment schedules. Individuals have an inherent distrust of financial institutions, leading to a preference of saving over financing. Traditional institutions rarely give out access to...

Georgina Hollsten
by Georgina Hollsten
2 Votes
Comments 4
Georgina Hollsten

The Social Consulting and Microfinance teams in Fiji are still very much in the empathy stage of operation; looking to further define the problem and customer segment aspects of this project and space before moving to offer any product or solution.  The January SoCon team's in Fiji worked hard this month to define the customer segments and problems within the Microfinance space. The segments and problems explored this month looked into small businesses and SMEs, agricultural merchants, and...

Rose Martin
by Rose Martin (Admin)
3 Votes
Comments 0
Rose Martin
by
Rose Martin (Admin)

Business Operations & Customer Segment Testing Lean Phase: Customer Segment NB: This experiment can be run concurrently with the experiment Further Exploring Access to Finance. https://projecteverest.crowdicity.com/post/891680 Assumption: The customer segment that falls under SoCon’s operations can be characterised by the following business operational assumptions. Business owners have a good understanding of their position in the market Business owners are aware of...

Brittany Nipperess
by Brittany Nipperess
1 Votes
Comments 0
Brittany Nipperess

Further exploring access to finance NB: This experiment can be run concurrently with the experiment Business Operations and Customer Segment Testing. https://projecteverest.crowdicity.com/post/891700 Lean Phase: Problem Assumption: There are three key barriers for small business owners accessing finance from traditional and established financial institutions in Fiji. These include Irregular income and individuals’ inability to repay loans due to the inflexibility of payment...

Brittany Nipperess
by Brittany Nipperess
1 Votes
Comments 0
Brittany Nipperess

Experiment Post: https://projecteverest.crowdicity.com/post/828010   Lean Phase: Customer Segment/Problem In our experiment, we explored the customer segment and problem phases for small business owners. Our experiment involved multiple assumptions based off research on small businesses and preferred loan structure, information of which has been consolidated in the following document: https://docs.google.com/document/d/10UHJkKvExl93XCfVQ9Zz3tFtMIKShbtEtNoXw4Q8k5A/edit . The...

Henry Edwards
by Henry Edwards
1 Votes
Comments 0
Henry Edwards
Adopted Experiment

Lean Phase: Customer Segment/Problem Assumption: The customer segment is small businesses with the following attributes: Been selling products/ offering services for at least 18 months. Running the business by themselves or with at most two other employees. Mainly in food, retail, & service industries (repairs, transport and hairdressing) The problems faced by this customer segment are: Lack of access and/or awareness of financial advisory services....

Lachlan Hogno
by Lachlan Hogno
2 Votes
Comments 4
Lachlan Hogno
Adopted Experiment

Lean Phase: Customer Segment Assumption : SoCon’s customer segment are Buka stove customers with the following characteristics: Women aged 20-60 yrs Work from home (often handicrafts) and cook for their families Have a preference for firewood as cooking fuel Both urban and rural location Prefer payment plan over upfront financing for the Buka stove because They can’t afford it upfront, and/or They prefer financing it over a period of time...

Sian Cliffe
by Sian Cliffe
2 Votes
Comments 3
Sian Cliffe
Proposed Experiment

Lean Phase: Solution Assumption: SoCon team will receive the deposit and the first two payment plan repayments. This assumption is currently being used in conjunction with the financial model and survey results to determine the payment plan structure. [Purpose: By observing and analysing the default rates and demographic data we will be able to construct better risk mitigation system and better determine the payment plan components.] Time Box: 3 1/2 months. Success Metric:...

Brittany Nipperess
by Brittany Nipperess
4 Votes
Comments 4
Brittany Nipperess
Proposed Experiment

Lean Phase: Solution/Revenue Streams. Assumption: Buka stove customers that are interested in a payment plan, are satisfied purchasing a $90 Buka Stove 4.0 for $135 on a 3 1/2 month, mobile payment plan. NB: The purpose of this is to test the acceptance of the payment plan and mark up price. NB: These prices need to be confirmed, but the concept behind structure of payments can be found here: https://docs.google.com/document/d/1fRr4budMMGO1CnVcC-3CAMAxowQRtzAqctNAZS8kSwQ/edit...

Brianna Townes
by Brianna Townes
3 Votes
Comments 3
Brianna Townes
Proposed Experiment

Lean Phase: Solution Assumption: Individuals willing to purchase a Buka stove would be willing to pay either; A $100 Buka Stove for $150 on a 3 1/2 month, mobile payment plan A $150 Buka Stove for $225 on a 3 ½ month, mobile payment plan A $200 Buka Stove for $300 on a 3 ½ month, mobile payment plan NB: These prices need to be confirmed, but the concept behind structure of payments can be found here:...

Angel Cheung
by Angel Cheung
2 Votes
Comments 2
Angel Cheung
Proposed Experiment

Lean Phase : Channels Assumption: Retailers selling or interested in selling the Buka stove would provide payment plans for it through their store. Time Box : 2 weeks. Success Metric Percentage of retailers that sign EOIs for the positioning of payment plans in their stores. Green Light - Move to looking at the logistics of providing loans through these retailers. Success point - Success if 60% of retailers sign an EOI to offer the payment plan.  Orange Light - Look...

Naomi Boulton
by Naomi Boulton
4 Votes
Comments 4
Naomi Boulton
Proposed Experiment

Lean Phase: Customer Segment Assumption: Fijians save a portion of their income when they get paid. Purpose: To find out if and how much Fijians regularly save, as this will assist in deciding on payments and structure of loans. Time Box : 1 week Success Metric: Percentage of people who regularly save money when they are paid, as opposed to just spending it when they receive it. Green Light:  Proceed to Monthly Repayment Schedule experiment Success Point: In order...

Naomi Boulton
by Naomi Boulton
1 Votes
Comments 2
Naomi Boulton
Proposed Experiment

Lean Phase: Problem/Channels Assumption: The assumption to test is that there is a product, similar to the Buka stove in either price, segment, or similar factors that the SoCon teams could use to test their payment plan solution on. Assumptions related to this for the purpose of this experiment include the assumption that individuals in surrounding Sigatoka villages will have an idea of products that they have tried to either obtain and couldn’t because they were too expensive, or...

Rose Martin
by Rose Martin (Admin)
2 Votes
Comments 4
Rose Martin
by
Rose Martin (Admin)
Proposed Experiment

Lean Phase: Customer Segment Assumption: Buka Stove customers are paid on a monthly financial cycle and willing and able to make loan repayments on a monthly basis. Or they aren’t paid monthly but are willing and able to make monthly repayments. Purpose:  To verify the financial cycle on which customers are paid and if they are willing and able to make repayments on a monthly basis. Time Box:  1 week Success Metric: Metric : % of people 1. Get paid monthly. OR 2. Who...

Naomi Boulton
by Naomi Boulton
2 Votes
Comments 5
Naomi Boulton
Proposed Experiment

Lean Phase: UVP Assumption : Individuals are willing to purchase; - A $90 Buka Stove for $x on a 3 ½ month, mobile plan to gain access to the product earlier - A $100 Buka Stove for $x on a 3 1/2 month, mobile payment plan to gain access to the product earlier. - A $150 Buka Stove for $x on a 3 ½ month, mobile payment plan to gain access to the product earlier. - A $200 Buka Stove for $x on a 3 ½ month, mobile payment plan to give access to the product earlier. Time Box: 2 weeks...

Rose Martin
by Rose Martin (Admin)
3 Votes
Comments 5
Rose Martin
by
Rose Martin (Admin)

Lean Phase: MVP Prototyping / Solution Assumption: Those who are able to regularly pay their other important bills on-time (water bills, phone bills) will be much more likely to be able to make on-time repayments of loans. Gathering the data from individuals will allow SoCon to determine for ourselves whether these individuals are going to pay on time by creating inputs for credit risk model (i.e. not default). Time Period: 6 weeks Success Metric: Various identified forms of data and...

Seif Zakri Stacey
by Seif Zakri Stacey
1 Votes
Comments 5
Seif Zakri Stacey
 

Naomi Boulton

Maroubra, Australia

Joined this community on Jun 15, 2018

University or Company
UNSW

Degree or Work area
Engineering

Country you Trekked/are Trekking in
Malawi

Reputation ranking

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12
Points
655
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