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Results: 5 customers signed the loan contracts and took out loans at an average amount of $1000 each.  After 8 weeks all 5 customers had made the monthly repayments that was required of them meaning that we had a 100% repayment rate for this period Reinado was happy with the outcome of this and offered to change the required collateral to 10% versus the original 20% in the contract. We agreed to a $10,000 convertible note from Reinado to cover the costs of starting the business. This...

Charlotte Crofts
by Charlotte Crofts
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Charlotte Crofts

Lean Phase:  Solution Assumption:  The sales and revenue streams will be making considerable progress towards the victory goal of $30000 Time Box:  15 months Success Criteria Progress: Assumption confirmed. Business is worth continuing. Green Light: <90% towards victory goal Orange Light: Optimise features of product, utilising customer advice. Red Light: >20% towards victory goal Failure Protocol: Experiment failed. Re-structure cost and revenue streams Experiment...

Charlotte Crofts
by Charlotte Crofts
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Charlotte Crofts
Experiment Results

Lean Canvas Phase: Solution   Assumption: USSD (mobile money) is the best way to organise savings for the desired customer segment.   Positive results:   In Jumtha, of the 9 surveys we conducted amongst villagers with mobile phones, 1 person didn’t know what it is and 6 responded positively towards the concept of USSD whilst 1 person expressed distrust in mobile systems. 1 person did not respond at all.   Therein, USSD utility passes our greenlight with a 66% positive result....

Charlotte Crofts
by Charlotte Crofts
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Charlotte Crofts
Experiment Results

  Lean Canvas Phase: Solution   Assumption: That rural community members whom don’t have access to a bank are willing to pay for education about savings and banking.   Results:   Vengara: Have not been able to establish engagements in Vengara due to external circumstances     Jumtha: Over the course of 2 days we engaged 20 residents of Jumtha testing our MVP. 5 residents responded to a village community survey positively and signed MOUs to place down the initial MVP...

Charlotte Crofts
by Charlotte Crofts
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Charlotte Crofts
Solution

Our product attempts to bridge the gap between people in lower socio-economic areas and accessing the knowledge and the infrastructure to start a savings plan. This product is also aligned with the bank of Amisen and will set up a pathway, for this customers segment, to the loans they need to grow their income.   The first unique value proposition of our solution is providing education about the banking system and building savings. Using the financial plans that are drawn up for...

Charlotte Crofts
by Charlotte Crofts
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0 Ratings
Comments 2
Charlotte Crofts
Experiment Results

  Lean Canvas Phase: Solution   Assumption: That rural community members whom don’t have access to a bank are willing to pay for education about savings and banking.   Results:   Vengara: Have not been able to establish engagements in Vengara due to external circumstances     Jumtha: 8 residents of Jumtha engaged were receptive to the offer, with 3 purchasing our MVP. Residents were of varying occupational backgrounds, attitudes and experiences to formal banking...

Charlotte Crofts
by Charlotte Crofts
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Comments 1
Charlotte Crofts

The solution that we have developed is a service that provides a financial plan to people who currently cannot access a banking system. The financial plan sets out the customers current income and expenditure, looks at the disposable income and develops a plan, using mobile money infrastructure, to put this money away and make it safe.  Upfront costs that Project Everest’s Microfinance team needs to be accountable for include the following: 20% of the loan amount that the team has been...

Charlotte Crofts
by Charlotte Crofts
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Charlotte Crofts
Proposed Experiment

Lean Phase: UVP  Assumption: That rural community members whom don’t have access to a bank are willing to pay for education about savings and banking. Time Box: 4 hours Success Metric: Percentage of eligible people who are willing to pay $7.00 for a financial report. This can either be $7 upfront, or a 25% deposit on conducting the survey and the other 75% upon delivering the report. We plan on finding at least 8 people who fit our customer segment. CRITERIA: Green Light:...

Charlotte Crofts
by Charlotte Crofts
n/a
0 Ratings
Comments 3
Charlotte Crofts
Adopted Experiment

Lean Phase: Customer Segment/Problem  Assumptions: Rural community members feel frustrated because they lack support with regards to financial services. Time Box:   1 week Success Metric: Out of 25 eligible people interviewed, 30% of people will agree to a follow up meeting after actively engaging with offer test Criteria: Green Light- Assumption confirmed. Move along to currency testing. Success Point – 30% of people agree to follow up Orange Light –...

Charlotte Crofts
by Charlotte Crofts
1 Rating
Comments 3
Charlotte Crofts
Project Summary

The purpose of this report is to document the challenges that currently occur in the Timor-Leste agriculture sector. Our solution to the found challenges in Timor is a smartphone application called FarmEd that offers agricultural advice and education. December is the first month we have the Beta version of the app. For the application to be well received, it was essential that Timorese farmers fit a few criteria. ​The December team has spent the month assessing if the farmers have...

Julia Marks
by Julia Marks
3 Votes
Comments 1
Julia Marks
Adopted Experiment

No original experiment posted   Lean Phase: Channels   Assumption: That people are engaging in the Facebook page (likes, comments, shares, messages)   Time Period: 4 weeks   Success metric: % of people who Are early adopters for the application Engaging in the Facebook page - likes, comments, shares, messages   Criteria   Green light: Continue to use Facebook as a communication/promotion platform.   Success point: If 60% of...

Rachel Tidbury
by Rachel Tidbury
0 Votes
Comments 1
Rachel Tidbury
Adopted Experiment

No original experiment posted   Lean Phase: Channels   Assumption: That the January team hold 3 community meetings That the community meetings will have good reception and allow us to spark interest and make bulk sales.   Time Period: 4 weeks   Success metric: % of people who Attend the meetings Purchase the application at the meeting or after attending the meeting   Criteria   Green light: Proceed with setting up more...

Rachel Tidbury
by Rachel Tidbury
2 Votes
Comments 3
Rachel Tidbury
 

Rachel Tidbury

Wollongong, Australia

Joined this community on Nov 15, 2018

Bio Currently studying a Bachelor of Creative Arts: Music at University of Wollongong. Very excited to be part of the December '18 Timor Leste Farmed team/family.

University or Company
UOW

Degree or Work area
Arts

Country you Trekked/are Trekking in
Timor-Lesté

LinkedIn Profile
https://www.linkedin.com/in/rachel-tidbury-588200175/

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