Product-market-fit milestone achieved
ANTISMOG has completed its product-market-fit demonstration milestone, in three distinct business sectors: automotive service garage, vehicle customisation shop, and municipality fleet workshop. ANTISMOG technology is now proven to reliably work in all three business scenarios the company is targeting:
- For the automotive service garages sector, the Business model applied is B2B2C, with the unique Payment scheme: Pay-As-You-Go monthly automated intelligent billing*.
- The fleet management companies and vehicle customisation and repair workshops sector, where the B2B Business model is applicable, are offered the Payment scheme which is already standard and customary in the industry: Equipment Leasing.
- In the municipalities sector, the Business model being B2G, the standard Payment scheme for the governmental and municipal organisations is applied, namely pre-agreed fixed-fee approved service provider.
*- The IOT-powered intelligent billing is an integral part of the C-600 system.
Forbes defines product-market fit, and more specifically product-market-fit milestone, as a stage of being in a good market with a product that can satisfy that market. The key to successful product-market fit is adding value for your customer so they become a long-term customer of the business, as retention is a primary driver of your business growth potential.
Per Airfocus, product-market-fit is important because businesses must know whether they have a product with market appeal before they dive into the production phase. Investing funds into developing goods nobody’s looking for, or which are inferior to existing products, is a waste of money and time.
As a result, product-market fit is considered a crucial early step in laying the foundation for a successful enterprise. It revolves around identifying market opportunities, gathering feedback, and determining the level of interest in the product itself.
Y Combinator experts suggest that once the startup actually reached product-market-fit, they can begin optimizing their core product, hiring specialists to increase their efficiency, and make strategic investments.