Should Ozow focus on developing new payment features or enhancing the security of our current offerings?

Introduction

The key trade-off we're examining is whether Ozow should focus on developing new payment features or enhancing the security of our current offerings. This decision is crucial for Ozow's future growth and user trust. I'll analyze this trade-off by considering user needs, market trends, and business objectives to provide a strategic recommendation.

Step 1

Clarifying Questions (3 minutes)

• What's our current market share and how does it compare to competitors?

• Why it matters: Understanding our position helps prioritize growth vs. consolidation.
• Hypothetical answer: We have 25% market share, second to the market leader at 40%.
• Impact: If we're significantly behind, new features might be crucial for growth.

• What percentage of customer support issues are security-related?

• Why it matters: Indicates the urgency of security enhancements.
• Hypothetical answer: 30% of support tickets relate to security concerns.
• Impact: A high percentage would lean us towards prioritizing security.

• What's our current Net Promoter Score (NPS)?

• Why it matters: Reflects overall customer satisfaction and loyalty.
• Hypothetical answer: Our NPS is 35, which is average for the industry.
• Impact: A low NPS might indicate a need to focus on core offerings and security.

• What's our engineering team's capacity for the next quarter?

• Why it matters: Determines our ability to tackle new features vs. security enhancements.
• Hypothetical answer: We have capacity for one major initiative or 2-3 smaller projects.
• Impact: Limited capacity might force us to choose one direction over the other.

• Are there any upcoming regulatory changes affecting payment security?

• Why it matters: Compliance could be a driving factor in our decision.
• Hypothetical answer: New data protection regulations are coming into effect in 6 months.
• Impact: Impending regulations could make security enhancements non-negotiable.