The claim that finding product-market fit is necessary but not sufficient — a startup or new venture separately needs to find a viable business model: a way of capturing value (pricing, distribution, cost structure) that makes more money than it spends, on top of a product customers want.
Practically, this means running two distinct validation tracks: one for whether customers want the product, and a separate one for whether the surrounding Business Model Canvas blocks (revenue streams, cost structure, channels) actually work economically. A team can hit product-market fit and still fail if it never validates business model fit.
Tamar Yehoshua treats product-market fit as closer to a necessary condition than a "nice to have," but explicitly insufficient on its own. Alongside PMF, she names three further requirements for a company to actually succeed: real distribution, a working sales team, and enough runway to reach the point where those things pay off. This gives a concrete checklist for what "beyond PMF" actually consists of.