Prototype- Finance literacy portal for mass education

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    29-Nov-2014
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In todays' fast paced world where all domains of knowledge seems to merge into each other, It is not at all possible for anyone to remain isolated from finance. It is the need of the hour and a necessary prerequiasite for our existance today. Keeping this in mind , We have started on a path to educate as much masses as we can ,with finance. Having said this ,We arent financial wizzards ourselves. however, We have a structural thought and action plan to do so. We aim to teach finance to all including children, housewives and farmers. We are moving on this path with the following value propositions that we intend to generate. 1.Help millions learn finance in simple and easy language in which they can understand the concepts and apply them in all basic and daily transactions. 2. Have holistic approach towards finance to make use of it in daily walk of life. 3. Provide innovative interactive means using articles, videos. podcasts. slideshows. images, etc to help everyone easily grasp concepts. 4. Penetration in rural area which is otherwise isolated with respect to financial knowledge and to build a large network of co –owners and collaborators of our company. How do we intend to do it? 1.Multi level marketing - To attract new members and retain existing ones. 2.Investment in the company- One can buy stake in our company for as low as $1 . By virtue of multi layered membership escalation , the stake of all existing members grow with each new member in the chain. 3.Gaming/contests/puzzles to attract masses not interested in finance but in entertainment . 4.Personalized end to end solutions to members – a. Members driven – Members ask and other members reply . Forum based. b. Expert driven- Members ask and solutions provided by our panel of experts/consultants.

Transcript of Prototype- Finance literacy portal for mass education

  • 1. Technology Entrepreneurship course (Prof .Eesley, Stanford online)Venture Lab Assignment submission- Prototype and value proposition validation Team TechPreneursTeam Member(s) : Prashant Sahay

2. Games and contestsStock Alert :* Sample site taken from internet to illustrate the idea of our prototype 3. How do we intend to achieve ourOur value propositionvalue proposition.1. Help millions learn finance in simple and easy1. Multi level marketing - To attract new memberslanguage in which they can understand the conceptsand apply them in all basic and daily transactions.and retain existing ones.2. Have holistic approach towards finance to make 2. Investment in the company- One can buy stake inuse of it in daily walk of life. our company for as low as $1 . By virtue of multi3. Provide innovative interactive means usinglayered membership escalation , the stake of allarticles, videos. podcasts. slideshows. images, etc to existing members grow with each new member inhelp everyone easily grasp concepts. the chain.4. Penetration in rural area which is otherwise 3. Gaming/contests/puzzles to attract masses notisolated with respect to financial knowledge and tointerested in finance but in entertainment .build a large network of co owners and 4.Personalized end to end solutions to members collaborators of our company. a. Members driven Members ask and other members reply . Forum based. b. Expert driven- Members ask and solutions provided by our panel of experts/consultants. 4. Key features of our literacy site : finfreedom.com1.It is based on concept of multi level marketing wherein one customer recommends the website to other .Customer 1 can buy stake in our co. by investing some money .After that ,he needs to get others to investin our co. and based on the no. of customers made by 1st customer and his subsequent links, the share ofall in the chain will keep on increasing.2. It caters to needs of students in high schools .This has been an untapped segment so far and we proposeto attract this customer base by including games, reward points, goodies, free educational trip etc. tostudents who perform well over weeks.3. We intend to educate masses in rural regions primarily because about 65 % of population of emergingnations still reside in rural areas. We plan to attract them by organizing village fairs, weekly educationalclasses in village community centers.4. We have also identified armed forces ,small businessmen and retired professional as our potentialcustomers .We intend to contribute to the rehabilitation of retired personnel and army veterans. Wewould offer then our know all software at throw away prices as a part of our corporate socialresponsibility.5. Though we intend to educate the masses through online media primarily, we will also resort to franchisemodel of business .this will bring in cash for us which can thus be applied in further growth of the project.6. We intend to host weekend lectures on all major FM radio channels.7. We intend to target the departmental stores and stationaries to stock and sell our learning tools likeworkbooks bearing key fin concepts.8. For ladies /households ,We intend to partner with DTH TV operators to include our educational software intheir package so that ladies could learn at ease in home while watching TV.9. For students or youth not interested in finance but in entertainment, we intend to attract their attentionby advertising our product on popular entertainment sites like fb, youtube etc. .we intend to trap thissegment by introducing fun games like finance-ville etc.10. No joining fee. Nominal software usage charge. Redeemable reward points.11. We also intend to provide expert consultancy solutions (end to end) by one user to other. The idea is thaton a forum a member may post his problem(s). This problem will be open an any other viewer can see itand provide his solutions . All solutions will be ranked/graded by other members and the solution gettingmaximum votes/likes will get reward points.12. We intend to provide professional consultancy solutions for critical problems through our pool of experts.This will be chargeable. 5. Business Model Canvas : Promotion of finance literacy and knowledge to massesCanvas submitted By Team " TechPreneurs"Member(s) : Prashant SahayKey Activities:1. Create contents which explain the basics of fianace catering toCustomer Relationships: sensiblities,needs,intelligence, 1. Direct customer relationship availablity and interest of its target through website Customer Segments:-segments.Value Propositions :2.Various offers to retain and maintain1. High school students who are 2. Finance related1. Help millions learn finance inmature customer relationships.primed to learn the basic nuances ofgames,puzzles,questions and contestssimple and easy language in which 3.Customers becomes part of thefinance. to attract the user. Key Partnership:- they can understand the concepts andmission by means of donation for 2. Youth who find it difficult to3. Knowledge sharing blogs,discussion 1. Major online education channels onapply them in all basic and dailycharity. comprehend finance basics .forums, quary addressalyoutube ( viz.,khan academy) and other 4. Create videos /post links that bear transactions. 4. Customer can buy stake in the 3..All undergraduate Students sites. 2. Have holistic approach towards organisation . 4. Housewives and ladies who want toknowledge related to understanding of 2. Village community centres finance to make use of it in daily walk 5. Customer grows with the help oflearn finance from comfort of their savings, investing, cashflow etc 3. Financial institutions like SEBI, 5. Rural empowerment with the help of life. multi layer/level marketing strategyhomes. BSE, NSE,KOSPI etc. 3. Provide innovative interactivethat we shall apply.5. Elderly retired citizens who want of company created finance education4. Financial /trading companies andsoftwares. means using articles, videos. podcasts.to learn finance for stock trading. stock brokers slideshows. images, etc to help6.Working professionals who can5.Publishing houses. everyone easily grasp concepts. afford learning on weekends. Channels :6. Banks-websites4. Penetration in rural area which is 7.Rural students (in community1. Our own websites7.General stores. otherwise isolated with respect to centres).Key Resources : 2. Partner websites. 8.MBA institutionsfinancial knowledge and to build a 8. Denizens who hang out on internet1. Our partner websites.3.online ad sites.large network of co owners and for fun/entertainment/monetary 2. Our partner Companies4.. Youtube. twitter. facebook (socialcollaborators of our company.rewards.3. Students media) 9. Businessmen4. Teachers and professors 5. Newspaper advertisements 10. Armed forces 5. Stock agencies/agents6. Radio 6. Finance professionals and users7.. Television ads7. Blog sites, discussion forums.8.Word of mouth -people to people9.Educational and financial institutions10. Hoardings and banners.Cost Structure :Revenue Streams:1. Domain name =$ 10 per year 1. Workshops in partner companies and affiliates.2. Hosting cost= $200 per year 2. Customers buying rights in our company.3. Content writers= $ 200 per year 3.Software sales. 4. Marketing/ Advertising = $ 3000 per year 4.Membership fee5. Overhead costs:- $ 150 /year 5.Google ads (via adsense) 6.Electricity and other resources :- $ 50 /year 6.Francise sales.7.Misc:- $ 200 /year7. By selling trading platforms from our website 8.Sell third party products and franchise fee.Total= $38009.Seminars and classes for finance courses per year (approx)10.Consultancy 6. Testing our value proposition with our potential customersSurvey-To seek opinion of people from various strata of society with respect to facilities required in afinance literacy website and their willingness to participate and contribute.How was the done? We have a strong belief that to ascertain ones assumptions, surveys are one of the best tools. We undertookour survey with the following important features:-a. We deliberately made it short and precise so that our target subjects can respond affirmatively andcorrectly. (we call it the 10 sec. test )b. We have tried to include all possible spectrum of potential customers/members for our survey and itincluded age profiling, sex, profession and educational qualification.c. We took it on a local level in our city wherein we asked our target subject about the five questions that wehad framed. The survey was done face to face and the reaction/response of the subject were genuine hence.d. The 5 basic questions that we asked were:-Question 1Question 2 Question 3Question 4Question 5Would you like to play Would you like to pay Would you like to Would you like to contributeWould you like to get daily stock quotes?finance themed games?for extra materials?partner us? to our mission? e. Sample mass (>35) was sufficient enough to reach at an inference. 7. To seek opinon of people from various strata of society with respect to facilities required in afinance literacy website and their willingness to participate and contribute.Survey sheetPromotion of finance literacy and TeamMember(s): Stanford Online :TechPreneurassignment ,Business Idea :knowledge amongst masses Prashant Sahay s Prof. EesleyQuestion 1 Question 2Question 3Question 4Question 5Would you like to Would you like ot Would you likeWould you like to Maiden EducationalWould you like toS. no.Age SexOccupationget daily stockplay financeto pay for extracontribute to our Name Qualificationpartner us?quotes? themed games?materials?mission?MBA+CFA+A1 swati 40 f inv banking 1211 1 CCA2 kunj28m B Tech fresher 1121 23 vijay 14m 9th class Student1121 1manufacturing4amitabh32m MBA2211 1firmno formal5bhatta 33m business 1121 2education6 vikas 29mgraduatefresher 1121 17naresh 17m 11th class Student 1121 18vijaya 34 fgraduategovt job 1222 19 surja 39 fMBA+Btech business 2211 1 10 surya 29mB Techfresher 2121 1 11