Big Fish Little Fish
App that helps people graphically depict their financial goals.
Problem Statement
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.
Problem Background
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.
Research Insights & User Pain Points
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.
Solution Explanation
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:
- A main portal styled as an “aquarium” that is where your fish are and grow as you add money towards your goals which grow your fish
- A section to set and edit your big goal. You would also be able to reflect on your goal and put why you want to reach the goal.
- A similar section to set and edit your small goal. You would also have the same reflection
- An area to set optional buckets for smaller goals that aren’t as big of a priority. These could then be switched out easily with your small goal if needed and would allow you to start with some leftover change in these buckets so that it doesn’t feel like you are starting from the beginning. This would operate similarly to a “round up” feature when adding to your first two goals so that change can go towards these smaller goals. This is designed to provide options for customers that might want sinking funds.
- A section where you can set a budget and then input your transactions. This is a feature common on many finance apps that eventually we will need but I would like it to be more manual and “locks” your aquarium so that you have to intentionally look at it. A lot of similar apps tend to auto load transactions in and it can get messy with multiple cards and accounts attached which can make users overwhelmed and not use the product.
Future Steps
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.
Learnings
Product Manager Learnings:
Andrew Stez
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.
Designer Learnings:
Designer Learnings:
Jo Sturdivant
- Adapting to an Established Team: Joining the team in week 6 of 8 was challenging, as I had to quickly adapt to existing workflows, dynamics, and goals. This mirrors real-world situations where you often integrate into teams mid-project, and flexibility is essential.
- Work-Blocking for Efficiency: With only two weeks to complete the project, I learned the importance of a structured work-blocking system. This approach allowed me to manage my time effectively and meet deadlines under pressure.
- Making Data-Driven Design Decisions: Unlike my past projects, I had to rely on research conducted by others. This was a valuable experience in using pre-existing data to guide design decisions, helping me focus on the core insights without starting from scratch.
Developer Learnings:
Developer Learnings:
Vanady Beard
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As the back-end developer, I learned how important it is to create efficient and reliable systems that support the entire application. This experience also taught me the importance of optimising the database and ensuring the backend is scalable and easy to maintain.
Developer Learnings:
Stephen Asiedu
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As a back-end developer, I've come to understand the importance of being familiar with various database systems and modules. This knowledge enables me to build diverse applications and maintain versatility in my work. I've also learned that the responsibility for making the right choices rests on my shoulders, guided by my best judgement.
Developer Learnings:
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Developer Learnings:
Maurquise Williams
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- Process of Creating an MVP: Developing a Minimum Viable Product (MVP) taught me how to focus on delivering core functionalities balancing between essential features and avoiding scope creep.
- Collaboration in a Real-World Tech Setting: This experience taught me how to collaborate efficiently in a fast-paced tech environment, keeping the team aligned and productive, even while working remotely across time zones.
- Sharpening Critical Thinking and Problem-Solving Skills: This experience honed my ability to think critically and solve problems efficiently. By tackling challenges and finding quick solutions, I sharpened my decision-making and troubleshooting skills in a dynamic, real-world setting.
Developer Learnings:
Jeremiah Williams
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All in all this experience was very awesome I learned that in coding with others being transparent is key
Developers Learnings:
Justin Farley
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I learned how important communication is when working with a team. Communication provides understanding, advice, ideas, and much more. While working with the product team, I’ve found that communication keeps everything flowing smoothly. Working with a team also showed me that every member brings something different to the table and we all have to work together in order to align and meet our end goal.