112) 5 Questions for FinTech Problem
Let's use our 5 QUESTIONS for the Fear of Financial Technology problem:
1) What's Up?
2) Why Not?
3) How To?
4) What Else?
5) Which One?
1) Start with "What's Up?" questions to understand the problem. Define the Problem.
It is very important to define what problem to solve. If you find out there are many problems, list them down. Be clear of the different problems that are normally lump into 1 general problem.
What is the Problem you want to solve?
Answer: UTC is not happy the technology is coming into Financial industry.
2) Keep asking "Why Not?" questions to find the root Cause of the Problem.
Why UTCs are NOT happy, NOT comfortable & DON'T feel secure with the Financial Technology?
Why UTCs are NOT accepting the Financial Technology?
Answers: Insecure, Fear of losing relevance, Fear client invest directly.
3) Keep asking "How To?" questions to Look for Opportunities.
How to make UTCs happy, comfortable & feel secure with this Financial Technology?
How to make UTCs accept this Financial Technology?
Answer: Solution 1: Make UTCs understand that computers only do simple tasks, but very fast.
4) Keep asking "What Else?" to Provide more Solutions.
Answer: Solution 2: Computers are expensive to setup.
Answer: Solution 3: Computers can't make complex decisions. Financial planning is very complex.
Answer: Solution 1: Make UTCs understand that computers only do simple tasks, but very fast.
4) Keep asking "What Else?" to Provide more Solutions.
Answer: Solution 3: Computers can't make complex decisions. Financial planning is very complex.
Answer: Solution 4: Financial planning needs customization for each and every person.
Answer: Solution 5: Computers don't have the human feelings.
5) Ask "Which One?"to Choose Suitable Solutions.
Which solutions can we apply?
Which ones can use?
Which solutions to ignore?
Which ones can use?
Which solutions to ignore?
Answer: Choice 1: Computers can't do complex tasks
Answer: Choice 2: Financial planning needs customization.
Answer: Choice 3: People need human touch
There can be many possible solutions arise during brain storming.
Take the good solutions and ignore the bad solutions.
Arrange the choices on which ones to do first.
Also can assign the solution tasks to other team members.
The 5 Coaching Questions can be used for small and big problems.
It can be used for an individual or used in a team.
Do share your experience in using the 5 Coaching Questions.
Answer: Choice 2: Financial planning needs customization.
Answer: Choice 3: People need human touch
There can be many possible solutions arise during brain storming.
Take the good solutions and ignore the bad solutions.
Arrange the choices on which ones to do first.
Also can assign the solution tasks to other team members.
The 5 Coaching Questions can be used for small and big problems.
It can be used for an individual or used in a team.
Do share your experience in using the 5 Coaching Questions.
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