The Internet of Things can offer companies numerous advantages and opportunities: more efficient processes and resulting savings potential through networking and automation, but also new service offerings, including completely new IoT business models.
But how do you get from an idea to a successful business model? Our practical experience shows: Promising IoT projects often fail before they are even implemented. Or even worse – they are implemented even though they have no prospect of success.
With our practical guideline “IoT Business Model Innovation”
Think big, start small, learn fast!
Regardless of whether your business model is aimed at optimizing internal processes or offering new services on the market – the focus must always be on the future user. Business ideas should therefore start at the pain points, i.e. the problems and needs of potential users and customers. Ask yourself the question: What problems of my customer could be solved with the help of IoT? What additional benefits can IoT provide?
Business ideas that leave the customer cold are innovations without a market.