Download - Prototype- Finance literacy portal for mass education

Technology Entrepreneurship course (Prof .Eesley, Stanford online)

Venture Lab

Assignment submission- Prototype and value proposition validation

Team – TechPreneursTeam Member(s) : Prashant Sahay

finfreedom.com

My Freedom

Stock Alert :

Games and contestsGames and contestsRedeem Rewards points Top scorer

My Freedom

Become a stake holder in our co.@

only $1

Discussion forum- Ask and

Reply. Win goodies &

reward points

Donate

Term of the day: Fiscal deficit Term of the day: Fiscal deficit

Finfreedom software download`

* Sample site taken from internet to illustrate the idea of our prototype

Prototype

Our value proposition1. 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 achieve our value proposition. 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.

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 invest in our co. and based on the no. of customers made by 1st customer and his subsequent links, the share of all 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 propose to attract this customer base by including games, reward points, goodies, free educational trip etc. to students who perform well over weeks.

3. We intend to educate masses in rural regions primarily because about 65 % of population of emerging nations still reside in rural areas. We plan to attract them by organizing village fairs, weekly educational classes in village community centers.

4. We have also identified armed forces ,small businessmen and retired professional as our potential customers .We intend to contribute to the rehabilitation of retired personnel and army veterans. We would offer then our” know all “ software at throw away prices as a part of our corporate social responsibility.

5. Though we intend to educate the masses through online media primarily, we will also resort to franchise model 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 like workbooks bearing

key fin concepts.8. For ladies /households ,We intend to partner with DTH TV operators to include our educational software in their 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 attention by advertising

our product on popular entertainment sites like fb, youtube etc. .we intend to trap this segment 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 that on a forum a

member may post his problem(s). This problem will be open an any other viewer can see it and provide his solutions . All solutions will be ranked/graded by other members and the solution getting maximum 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.

Business Model Canvas : Promotion of finance literacy and knowledge to masses

Canvas submitted By Team " TechPreneurs" Member(s) : Prashant Sahay

Key Partnership:-1. Major online education channels on

youtube ( viz.,khan academy) and other sites.

2. Village community centres3. Financial institutions like SEBI,

BSE, NSE,KOSPI etc. 4. Financial /trading companies and

stock brokers5.Publishing houses.

6. Banks-websites7.General stores.

8.MBA institutions

Key Activities:1. Create contents which explain the

basics of fianace catering to sensiblities,needs,intelligence,

availablity and interest of its target segments.

2. Finance related games,puzzles,questions and contests

to attract the user.3. Knowledge sharing

blogs,discussion forums, quary addressal

4. Create videos /post links that bear knowledge related to understanding of

savings, investing, cashflow etc5. Rural empowerment with the help of company created finance education

softwares.

Value Propositions :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.

Customer Relationships:1. Direct customer relationship

through website2.Various offers to retain and maintain

mature customer relationships.3.Customers becomes part of the mission by means of donation for

charity.4. Customer can buy stake in the

organisation .5. Customer grows with the help of

multi layer/level marketing strategy that we shall apply.

Customer Segments:-1. High school students who are

primed to learn the basic nuances of finance.

2. Youth who find it difficult to comprehend finance basics .

3..All undergraduate Students 4. Housewives and ladies who want to

learn finance from comfort of their homes.

5. Elderly retired citizens who want to learn finance for stock trading.

6.Working professionals who can afford learning on weekends.

7.Rural students (in community centres).

8. Denizens who hang out on internet for fun/entertainment/monetary

rewards.9. Businessmen

10. Armed forces

Key Resources : 1. Our partner websites.

2. Our partner Companies3. Students

4. Teachers and professors5. Stock agencies/agents

6. Finance professionals and users7. Blog sites, discussion forums.

Channels :1. Our own websites2. Partner websites.

3.online ad sites.4.. Youtube. twitter. facebook (social

media)5. Newspaper advertisements

6. Radio7.. Television ads

8.Word of mouth -people to people9.Educational and financial

institutions10. Hoardings and banners.

Cost Structure : 1. Domain name =$ 10 per year 2. Hosting cost= $200 per year

3. Content writers= $ 200 per year 4. Marketing/ Advertising = $ 3000 per year

5. Overhead costs:- $ 150 /year 6.Electricity and other resources :- $ 50 /year

7.Misc:- $ 200 /year

Total= $3800 per year (approx)

Revenue Streams:1. Workshops in partner companies and affiliates.

2. Customers buying rights in our company.3.Software sales.4.Membership fee

5.Google ads (via adsense)6.Francise sales.

7. By selling trading platforms from our website8.Sell third party products and franchise fee.

9.Seminars and classes for finance courses10.Consultancy

Testing our value proposition with our potential customersSurvey-To seek opinion of people from various strata of society with respect to facilities required in a finance 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 undertook our survey with the following important features:-

a. We deliberately made it short and precise so that our target subjects can respond affirmatively and correctly. (we call it the “10 sec. test” )

b. We have tried to include all possible spectrum of potential customers/members for our survey and it included 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 we had 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:-

e. Sample mass (>35) was sufficient enough to reach at an inference.

Question 1 Question 2 Question 3 Question 4 Question 5

Would you like to get daily stock quotes?Would you like to play finance themed games?

Would you like to pay for extra materials?

Would you like to partner us?

Would you like to contribute to our mission?

Survey sheet

To seek opinon of people from various strata of society with respect to facilities required in a

finance literacy website and their willingness to participate and contribute.

Business Idea :Promotion of finance literacy and

knowledge amongst massesTeam :TechPreneurs

Member(s): Prashant Sahay

Stanford Online assignment , Prof. Eesley


S. no. Maiden Name Age Sex Educational

Qualification OccupationWould you like to

get daily stock quotes?

Would you like ot play finance

themed games?

Would you like to pay for extra

materials?


Would you like to contribute to our

mission?

1 swati 40 f MBA+CFA+ACCA inv banking 1 2 1 1 1

2 kunj 28 m B Tech fresher 1 1 2 1 2

3 vijay 14 m 9th class Student 1 1 2 1 1

4 amitabh 32 m MBA manufacturing firm 2 2 1 1 1

5 bhatta 33 m no formal education business 1 1 2 1 2

6 vikas 29 m graduate fresher 1 1 2 1 1

7 naresh 17 m 11th class Student 1 1 2 1 1

8 vijaya 34 f graduate govt job 1 2 2 2 1

9 surja 39 f MBA+Btech business 2 2 1 1 1

10 surya 29 m B Tech fresher 2 1 2 1 1

11 vishaka 17 f 11th class Student 1 1 2 1 2

12 roshni 18 f 12th class Student 2 1 1 1 1

13 bhima 33 m 8th class farmer 2 1 2 1 1

14 trisha 25 f MBA 1st year Student 2 1 2 1 2

15 sukesh 31 m 10th pass farmer 1 2 2 2 2

16 rukmani 21 f MBA 1st year Student 2 1 1 1 1

17 ganga 39 m no formal education jobless 2 1 2 2 1

18 girisha 22 f MBA 1st year Student 2 1 2 1 1

19 girishni 19 f MBA 1st year Student 1 1 2 2 1

20 giri 14 f 9th class Student 1 1 1 1 1

21 girish 20 m B Tech Student 1 1 2 2 122 gangadghar 16 m B Tech Student 2 1 2 2 123 mukesh 35 m graduate vendor 1 1 1 2 2

24 dharmendra 33 mno formal education

jobless 2 1 2 2 2

25 varsha 23 f B Tech Student 1 1 2 1 226 veena 19 f B Tech Student 1 1 2 1 127 megha 17 f 10th pass Student 2 1 2 1 128 indra 35 m MBA pvt job 1 2 2 1 129 jalaj 32 m graduate govt job 1 1 2 1 130 mridula 57 f graduate govt job 2 1 2 1 131 suyesh 45 m graduate business 1 2 2 1 232 suyeshwer 60 f Ph.D professor 2 2 2 2 233 rajiv 54 m Ph.D professor 2 1 2 1 2

34 hariya 55 mno formal education

business 1 1 1 1 1

35 harendra 58 m Ph.D professor 2 2 2 1 136 hrishikesh 46 m MBA+Btech business 1 2 1 2 137 bhishma 53 m graduate govt job 2 2 1 1 2

38 prashant 57 mno formal education

business 2 2 2 1 2

39 pulak 69 m Ph.D Retired 2 1 2 1 240 pollock 66 m graduate Retired 1 1 2 2 141 harbhajan 61 m graduate Retired 1 1 2 1 142 singha 66 m Ph.D Retired 2 1 2 1 2

Survey sheet

To seek opinon of people from various strata of society with respect to facilities required in a finance literacy website and their willingness to participate and contribute.

Business Idea :

Promotion of finance literacy and knowledge amongst masses

Team :TechPreneurs

Member(s): Prashant Sahay

Stanford Online assignment , Prof. Eesley


S. no. Maiden Name Age Sex Educational

Qualification OccupationWould you like to get daily stock quotes?

Would you like ot play finance themed games?



Would you like to contribute to our mission?

Legends:

1 Yes/Agree

2No/Disagree * Sample size :42 , done on local level, exhaustive, face to face

A sample survey sheet used in our survey


Would you like to


Would you like ot play finance themed games?




mission?

Key observations

Following showed postive response to stock updates:-1. Age >40 years2. students :> 60 %3. People in business and those who are retired.4.Mainly males.

Following showed postive response to fun aspect:1. Age : 17-30 years2. Mainly students3. Mainly Post graduates.4.Mainly males and more then 50 % females.

Following showed positive response to get extra materials at price:-1. Age >50 years2. Mainly businessmen ,bankers and retired person.3. jobless and farmers showed no interest.4.Mainly males.

Following showed postive response to partnering with us1. a high majority of people surveyed showed inclination to our scheme of partnership with us epecially the jobless and rural people.

Following showed postive response to stock updates:-1. Age >40 years2. Retired ,businessmen, students(>40%), working professionals.3. postgraduates : huge majority, Undergraduates<50% .4.more then 50% males and females..

Deduction

The feature of stock updates and national business scenario is desirable mainly by middle aged professional and those who are in business .Post graduates have a special inclination towards this feature.

The fun zone(gaming, puzzles,reward points etc.) seems to be spcially popular in students, undergraduates, males and females. Working professionals may like it if it suits their needs.

People who are in higher age group (mainly businessmen ,bankers and investors who see it as an investment opportunity) have a liking to pay extra money to get extra features.

People from all classes and section were over vehemently in sync with our idea of mutual ownership.

People in middle ages and who are working professionals and are stable financially have strong inclination to contribute. We deduced that people want to donate but don’t know the peopler channels.

Was our value

proposition validated?

yes yes yes yes yes

Survey-observation, deduction and validation of our value proposition

Way forward and action plan for future


Would you like to


Would you like ot play finance themed

games?Would you like to pay for extra materials?



mission?

Way forward

We need to customise the business news inputs on our website based on member needs.

Customization of this feature to suit member' needs

We might need to bring down extra charges to attract more people to buy.

Go ahead with this scheme. go ahead.

Action plan

1. Customised business news feature. Member can choose what he wants.2. Free business capsules to students via email.

1. Expand on the gaming part but focus on keeping its theme on finance.2.Games for retired people and businessmen.

1.bring down the fees.2.Offer more features for the same price.3.encash reward points to gain more materials.

1.Good

1.We plan to involve few NGOs with our mission . Donations made by members go directly to these NGOs.2.contributions in kind (viz., reading materials, books, workbooks etc) to be encouraged.

Thanks for visiting this presentation

Team – TechPreneursTeam Member(s) : Prashant Sahay