9A – Testing the Hypothesis, Part 2

9A – Testing the Hypothesis, Part 2

Who:

I went to three business owners, a Starbucks owner, a McDonalds owner, and local clothing store. I learned that even though they don’t trade in the market, other than by putting money into the S&P 500, they still like to look at large corporation numbers and compare numbers. As well as look into market trends in their sector.

Then I called up a friend who is an actuary. An actuary is person who determines the likelihood of an event like death or sickness occurring. She said she rarely looks into the stock market and because she is a life insurance actuary, and not a business actuary she doesn’t look into the economics of how businesses are doing.

The last person I interviewed was an intern at the mayor’s office. She said she constantly is on the news sites reading about any political issue. She wants to stay informed with all the issues. Although she never invests, she does look into other markets to see how they are doing and what is happening politically. She likes the idea but would not pay money to see how other markets are doing because there is enough free information that is adequate.

What:

My problem is it’s hard to find all the information, but the main problem is, information is accessible but people don’t want to spend the time finding it.

Why:

People inside and out both have the same need, however it is not pressing or as impactful to people outside of the circle.  

                                    Inside                                                  Outside

Who    Business owners who want to                       A person who assess risk on a person life

compare market trends                                  Someone who is interested in the world but      

People who assess the likelihood                     doesn’t need to know about the finances

A business will fail                                           behind it.

What   To make financial information accessible     To be a political news site                   

            To everyone

Why    Information is key to success and                   Everyone wants the answers handed to

            With the abundance of information              them, when it’s easier and clearer to find

            Out there, it’s hard to find what’s                 people will pay.

            Important, and what’s jargon.

Summary:

Before conducting these interviews, I assumed only financial analysts and stock investors would be interested. However, many business owners would use it. If I designed the product to where customers had the option to pay for only the macro side and not the financial, then my market will greatly increase.