IoT enables vendors to create an entirely new line of “smart” solutions for its existing and new markets. While the decision to go “smart” is straightforward, the decision of how to go “smart” is less obvious. Vendors are faced with a “build, buy, partner” decision – build it themselves, buy and integrate technology, or partner with another organization and go to market together.
This article discusses some of the key management considerations involved in making a decision.
We are in a modern day gold rush, sparked by the Internet of Things (IoT). Thousands of companies, new and established, are planning “smart” solutions.
Amid all this, what IoT lessons learned from the past can today’s IoT companies apply to avoid mistakes of previous “gold rushes”? Are we smarter now, or are we making the same mistakes? The answer is yes and yes. This articles identifies five major mistakes made by dot-companies and five Iearnings for today’s IoT companies.
Don’t confuse IoT with innovation. The real IoT innovation is not in the technology, but in what it can do and what it allows organizations to become – intelligent, agile and adaptive, in creating new value for its customers.
This article describes five innovation paths with IoT solutions to consider when planning digital transformation projects, along with advice to get started on turning the Internet of Things into the Innovation of Things.
One common monetization approach for today’s IoT solutions is the subscription model. While it provides an attractive recurring revenue stream, subscription models require major investments in resources, time, capital and management commitment.
In this blog, we’ll highlight six key strategic and critical considerations managers must address when planning and building IoT subscription models. These considerations will determine whether the IoT subscription service is successful or not.
Despite the disruptive and transformative potential of IoT, selling IoT solutions is today’s emerging marketplace is challenging. Buyers face many barriers, ranging from a lack of awareness to fears of early obsolescence.
In this blog, we’ll share the eight things IoT solutions vendors must stop doing right away. Instead, we’ll share eight alternative best practices and strategies that they should be doing instead to drive market adoption.
Buyers face a dilemma with buying IoT solutions today. Buy an immature solution now and risk obsolescence in the near future, even if the solution has value for them today, or hold off buying until things become clearer.
In this blog, we will share common causes of obsolescence and a framework for futureproofing your IoT infrastructure. We will list some tactical practices to put in place to maximize the useful life of your IoT solution.
A recent study by Cisco found that three quarters of IoT projects were not successful. The reasons included long completion times, poor data quality, lack of internal expertise, integration and budget overruns.
In this blog, we will share ten best practices, from project planning to implementation, to help managers and project planners overcome common mistakes made with projects implementing emerging technology solutions.
Today’s IoT market is very dynamic, continuously evolving, and fragmented. No single vendor has a connected IoT stack. Partnerships are a critical business capability that IoT vendors must develop in order to be relevant in this type of marketplace.
This post, the second of two parts, describes ten best practices that vendors should use when forming and managing partnerships with other IoT partners.
Today’s IoT market is very dynamic, continuously evolving, and fragmented. No single vendor has a connected IoT stack. Partnerships are a critical business capability that IoT vendors must develop in order to be relevant in this type of marketplace. This post, the first of two parts, describes the basic partnership types, the relationship models and key engagement scope parameters.
You’re sold on the Internet of Things (IoT) and its benefits for your organization. But how do you get in the IoT “game”? Where do you start?
While there is a lot of information on the technology behind IoT, case studies, and visions of what it can do, there is not a lot of practical content on what you need to get started today.
This post discusses five options that managers have for executing pilot IoT projects.
IoT or Internet of Things solutions, built on a cloud-based infrastructure, create opportunities for new business models and value delivery methods. While many IoT solutions are usually sold as a “product”, many vendors are now beginning to offer IoT “as-a-service”.
Selling a recurring revenue solution is not the same as selling an “one time” sale product. This post presents seven best practices for selling IoT as a service.
You found product-market fit and built your Internet of Things (IoT) solution. But do you know who your buyer is?
IoT solutions create value that cut across organizational boundaries. Identifying a single buyer or owner in today’s traditionally structured organizations is difficult. Unlike IT where there is a centralized buyer, IoT buying is decentralized.
This post describes the reasons for this, and provides six best practices for selling IoT solutions into corporate organizations.
A lot of the innovation around Internet of Things (IoT) is coming from start-up companies. But how do you buy a solution when the technology is still evolving, the use cases are emerging, and the company selling it may not be in business a year from now? Your “tried and true” sourcing practices that you use with your more established suppliers will actually increase the risks for both you and the start-up company that you are buying from.
This post describes the three main risks and highlights ten new strategies for buying IoT solutions for start-up companies.
There is no lack of IoT platforms, business models, and innovative products in the market today. However, today’s products are still immature point solutions. From technology standards, to business models, IoT will evolve over the next few years.
Given the immature state of IoT, what should transformation, business and IT managers do today?
This article discusses five things that managers should do now as they plan and deploy IoT strategies and projects.
Recently, I met with key executives from an industry trade group to discuss disruptive innovation in Silicon Valley.
One key concept I shared with them is that although many people equate innovation with technology, there are actually five types of innovation and that some or all may occur at the same time.
This post describes the five types of innovation, and provides managers with three takeaways to guide their innovation strategy.