As more and more end points become connected to one another, more use cases become possible. The trick is to determine which use case has a corresponding revenue model. Just because we can have an end point device with a sensor collect data doesn’t mean you can get paid for it. Launching a product in search of a market is a backward mindset. Addressing the needs of a market and testing a proof of concept are natural first steps. So not only is this mindset needed, but having the right organizational structure that can be nimble and agile enough to execute delivery is the next crucial step. The article below lists some of the key characteristics found in successful product launch teams.
The technology that enables IoT has improved by leaps and bounds over the past 15 years. The commercialization methods, by contrast, haven’t changed much. Here’s a good start: Structure your IoT initiative as an entrepreneurial venture. This allows you to experiment, tweak and pivot until you reach product-market fit.