Assignment
Minimum Viable Product
Name: Ali Shahbaz
Question 1
Suppose you want to build a money manager app similar to Walnut, which would track expenses of users and
help them manage money. List down the problem statement (in one line) which you are trying to solve for
users? (Word limit: 50)
For example, in case of Airbnb it was: Through an online platform, it will be easy for people to find and rent
places offered by the hosts
Answer:
Provide a single platform, that allows users to easily track and manage their finances, provide insights
on spends and remind users on upcoming bills and payments .
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Question 2
In a session, you learnt how to identify the riskiest assumptions for Airbnb and a dessert subscription service.
Now that you have defined the problem statement, list down the assumptions (in first column) which you might
have about the viability of the business or about the users. Out of the listed assumptions, identify the riskiest
ones (in second column). Provide your reasoning for choosing the riskiest assumptions. Fill your response in
the table given on the next slide.
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Answer 2
Assumptions Riskiest (Yes/No) Reasoning
Users would be willing to Riskiest 1. If false, you would have no customers
share their personal Assumption 2. Financial data is perceived as highly sensitive & users would be wary of
financial data on a digital sharing this data with a online platform as it exposes them to data security risk.
platform
Users would be willing to Riskiest 1. If false, you would have no customers
store and share all their Assumption 2. Users will need to change their existing behaviour of storing their financial
financial information in transaction details that are currently segregated with banking platforms, card
one single platform companies or excel sheets/physical books.
Users would want to pay 2nd Riskiest Users are used to making online payments via their existing banking, online and
money via this platform wallet platforms.
Customers may not trust security levels of another app
People are willing to pay 3rd Riskiest Users have ways of managing these tasks offline (though cumbersome) for free
for an app that manages There may be other apps that provide the same service for free
their financial information
Users would like to split 4th Riskiest Users may prefer informal ways of splitting bills with friends and paying them
bills & settle dues with Users may find it inconvenient to update the app in case of cash transactions
friends
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Question 3
You listed the assumptions about a money manager app and identified the riskiest ones.
Note down the list of possible product features which would be crucial to include in building the MVP for a
money manager app. Also, ensure that you are mapping the features with the relevant assumptions. (Word limit:
150)
Answer:
Objective: Explain the product proposition & measure customer interest before investing via an explainer video
Build: Build a landing page explaining the value proposition this would be in the form of an explainer video
Features that need to be explained in the video
1. The platform has built in enterprise grade security encryption and robust data protection, showcasing to the users that walnut
securely transmits and saves user data on secure servers and their data isn't shared with anyone
2. There is two factor authentication for login - OTP for validating mobile number and authentication for email ID.
3. App allows you to track, record and classify expenses based utility bills, insurance payments, fees or the categories set by user
and set reminders
4. App allows you to split expenses among friends Call to action on landing page : interested users can submit their email IDs to get
notified when we launch
Feedback form - Ask users for feedback or what features they would like to see . How much they are willing to pay.
Measure: What the demand is for this kind of service? How many email IDs have you collected.
Learn: According to the data and feedback collected, take a call to persevere or pivot
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Question 4
Which metrics would be important for you to track in the money manager app MVP?
Please list the same. (Word limit: 50)
Answer:
● Conversion rate for video viewing :
○ % of visitors who landed on the page, to users who saw the entire explainer video.
● Conversion % :
○ % of users who saw the entire video vs number of users who shared email id
● Drop out rate for video:
○ Avg. video length viewed , rate of dropout from watching entire video , % completed video. These
metric indicates interest levels
● Bounce rate from video and landing page
● Data points as per feedback form on price point and willingness to pay
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