We are simplifying the process of working towards financial goals for young early professionals so that people with limited resources and time can focus on financial goals without being overwhelmed.
The customer is early professionals who oftentimes have limited financial resources and need to be very agile in their goals. Financial advice can also be varied by who you follow and oftentimes the solutions proposed involve apps that track every dollar and create millions of sinking funds which can be overwhelming to start with. If there are too many financial goals like many other areas little can actually be accomplished.
With high inflation and the effects of the covid-19 pandemic the need to be focused on financial goals is super important. Also, with the advent of Tik Tok a large community of people has formed trying to build a financial community.
I watch a lot of Finance Tik Toks and Youtube videos and through watching the videos and reading/interacting with others I have noticed a few pain points. Also, due to the limited time of this project, I mainly focused on validating what I found in these videos by asking friends who are early professionals about their struggles with finances and life after college.
Many of us were struggling to figure out a way to figure out how to move out. They also kept mentioning how finances are really difficult and for the most part did not seem to use any specific form of budget or progress tracking towards goals. They mentioned how most of them are a little restrictive and can be very confusing. They also mentioned how they really do not have a ton of extra money to throw towards goals.
My solution focuses on creating a simple and engaging financial progress tracker with game-like elements. This addresses the pain points of my target market because many of them are overwhelmed and could really use a simple tracker that doesn’t try to make it confusing by adding skins or power ups and things. It also aims to be more interesting to use than an excel sheet or other finance apps to track your budget. Keeping this in mind and based on my research and talks with friends, I decided to focus on the following features:
I am planning to continue to build a portfolio that showcases that I can think like a product manager. I do not think I will actually create this product because I have limited technology knowledge but I am considering other ways to show skills in products like e-commerce or a blog to include alongside my portfolio. I also plan to network within my current company to try to figure out how I can pivot into the Product Management side of our business.
Lastly, my goal is to be at the end of 2023 make the transition to product in my own company or switch to another company in EdTech or Entertainment.
Co.Lab was a great experience and really gave me a tangible thing I can expand on going forward
Going into this Sprint program I had kind of an idea of what being a product manager was but not really what they did. By building a product spec, I understand what the day to day of the job is like a bit more and look forward to continuing to learn what the actual day to day is like.
I joined the Co.Lab program because I really wanted to see if this was something I would actually want to do and I was struggling to find real projects I can do to display product management skills. I now have something to include in my portfolio and I look forward to building upon it more.