The boring but massive and important business of Digital Smart Speed Signs

Are you tired of feeling frustrated while driving on the road because of unclear speed limit signs?

Do you worry about the safety of yourself and your community while driving during adverse weather conditions?

Do you wish there was a way to reduce your insurance costs while also following the right speed limit?

If you answered yes to any of these questions, we have the solution for you. Introducing TeD - our digital speed sign solution.

TeD is a smart and innovative solution for managing speed limits on roads. Our digital speed signs are integrated with weather-sensitive software that keeps track of the weather in your area. Based on the weather conditions, the sign can modify its numeric value to reflect the appropriate maximum speed limit.

Not only does this make your driving safer and more efficient, but it also provides incentives for following the speed limit set by the sign. By adhering to the speed limit set by TeD, you can potentially reduce your insurance costs.

Our product is designed for governments at the federal, state, and municipal levels. TeD eliminates the need for governments to constantly upgrade their speed limit signs, as changes can be made through our software.

Join us in creating a safer community and better regulation of traffic. Experience the benefits of a smarter and weather-sensitive driving experience with TeD.

Summary of Idea

The idea is about manufacturing digital speed signs that are integrated with weather communication software. The signs change their numeric value according to weather conditions and incentivizes drivers to follow it for lower insurance costs. The target customer segments are governments at various levels and the main revenue stream is selling the digital signs. Key activities include mapping out the relationship between signs and weather-speed protocols, and key partners are weather apps and emergency services. The cost structure mainly involves software expenses, while the service product line offers features such as smart and adaptable signs and benefits such as safer communities and better traffic regulation.

Founder Hypothetical Introduction:?

Slide 1: Introduction

Good morning, and thank you for joining me today. I am [Founder Name], and I am here to introduce you to a new solution that I believe will revolutionize road safety across the world.

Slide 2: Problem Statement

Every day, road accidents cause significant harm to drivers and communities. Static speed signs are often outdated, leading to confusion and unsafe driving conditions. The challenge is clear: we need a smarter, more adaptable solution that provides real-time information to drivers in changing weather conditions.

Slide 3: Solution Overview

Our solution is a digital speed sign that integrates hardware and software to provide real-time information on safe speeds for changing weather conditions. The digital sign communicates with weather apps to provide updated information on maximum speeds in real-time, and drivers who adhere to the sign can receive incentives such as reduced insurance costs.

Slide 4: Benefits for Governments

For governments, this solution provides a number of key benefits. Governments will no longer have to spend time and resources upgrading static speed signs, as the digital signs can be adjusted through software. The data collected by the digital signs will provide valuable insights into traffic patterns and road safety, allowing governments to make informed decisions. And, by reducing the number of road accidents, the digital speed signs will help to improve the safety of communities and the reputation of governments.

Slide 5: Benefits for Drivers

For drivers, the digital speed signs will provide real-time information on safe speeds in changing weather conditions, helping to reduce the risk of accidents. Drivers who adhere to the signs will receive incentives such as reduced insurance costs, incentivizing safer driving habits.

Slide 6: Key Partners and Cost Structure

We will partner with weather apps for integration, and potentially connect with police, fire brigade, and hospitals to provide a comprehensive road safety solution. The major cost will be on software, as the hardware will be fairly economical given the current price of IoT sensors.

Slide 7: Revenue Streams

Our revenue streams will include the sale of digital speed signs to governments, ongoing service contracts for maintenance and technical support, data analytics services, upgrades and enhancements, training and education, integration with other systems, marketing and advertising, and product expansion.

Slide 8: Conclusion

In conclusion, our digital speed sign solution offers a smarter, more adaptable solution for road safety, providing real-time information to drivers in changing weather conditions and incentivizing safer driving habits. With the support of governments and communities, I am confident that this solution will revolutionize road safety across the world.

Customer Journey

1. Awareness: Governments become aware of the solution through various marketing channels, such as trade shows, advertising, and word of mouth.
2. Interest: After becoming aware of the solution, governments research and gather information to determine if it meets their needs. This may include reviewing the product features, customer testimonials, and market data.
3. Consideration: Governments evaluate the solution in more detail, assessing whether it is the right fit for their needs, comparing it to other alternatives, and making decisions based on the value proposition.
4. Purchase: Governments make a one-time purchase of the digital speed signs, either through a Request for Proposal (RFP) process or through direct negotiations with the company.
5. Onboarding: The company helps governments with the installation and set-up of the digital speed signs, and provides training and support to ensure successful implementation.
6. Usage: Governments use the digital speed signs to monitor and regulate traffic, providing drivers with real-time information about the maximum speed in different weather conditions.
7. Feedback: Governments provide feedback to the company about the performance of the solution, and the company uses this feedback to continuously improve the product and customer experience.
8. Renewal: Governments may opt to renew their contract with the company, purchasing additional digital speed signs or upgrading their existing signs to the latest version.

The Jobs to be Done

1. Reduce road crashes: Governments want to reduce the number of road crashes and accidents, improving the safety of their communities.
2. Regulate traffic: Governments need to regulate traffic to ensure that vehicles are moving at the appropriate speed, reducing congestion, and improving flow.
3. Provide real-time information: Governments want to provide real-time information to drivers about the maximum speed in different weather conditions, ensuring that they can make informed decisions while driving.
4. Save time and money: Governments want to save time and money by reducing the need to upgrade and maintain static speed signs, opting instead for a one-time purchase of digital speed signs.
5. Support better driving: Governments want to support better driving by providing incentives to drivers who adhere to the new protocol of following digital speed signs.
6. Streamline decision-making: Governments want to streamline decision-making by integrating the digital speed signs with weather data, allowing them to make adjustments in real-time based on changing conditions.

Product Line - Features and Benefits

Smart digital speed signs

Features:

1. Real-time information: The signs receive real-time information about the weather and adjust the maximum speed accordingly.
2. Dynamic and non-disruptive: The signs change periodically without being disruptive, ensuring a smooth and seamless transition.
3. Smart integration: The hardware and software are smartly integrated to provide a comprehensive solution for road safety.
4. Incentives: Drivers receive incentives, such as lower insurance costs, for adhering to the new protocol of following digital speed signs.

Benefits:

1. Safer communities: The signs provide up-to-date information about the weather, helping to make roads safer for drivers and communities.
2. Better traffic regulation: By reducing road crashes, the signs contribute to better regulation of traffic and a smoother flow of traffic.
3. Improved driving: The incentives for adhering to the new protocol encourage better driving and help to develop better drivers across communities.
4. Cost savings: Governments can save costs by upgrading signs through software and reducing the need for physical upgrades.

Final Thoughts

New information in the form of change in weather demands change in driving limits and behaviour. So why in 2023 do we not have anything close to this even in developed countries? Our safety is at the discretion of others and for a number of reasons, people will not use comon sense and will still try to drive at the limits otherwise mentioned.

This should be mandated by the government, but instead I am proposing it as a business idea. Trying hard to not roll my eye at that ;-P !!