Which stage of IoT growth are you at?

By Pilgrim - April 16, 2019

In our experience, every IoT product or startup goes through roughly the same stages.

Use our handy guide to identify where you are today to see what you might need to do next. For example, the "Who leads the activity" row could give you ideas for new roles you may need to create as you mature (and possibly new people you'll need to hire). 

 

STAGE:

1. Startup

2. Scaleup

3. Growth

Number of devices

 10 100 1,000+

Primary activity

  • Define the proposition
  • R&D
  • Trial (collect user feedback)
  • Fix bugs in technology
  • Fix bugs in proposition
  • Grow month on month
  • Find other channels to market
  • Beat the competition

Who leads the activity?

  • Founders
  • Developers
  • Head of Product
  • Head of Operations/Customer support
  • CFO

Decisions

  • Architecture
  • Vendors
  • Business model
  • Features
  • Pricing
  • Ready to launch?
  • KPI’s and SLAs - what to measure and what is good-enough?
  • Customer experience/reputation

Mindset

  • “Is it possible?”
  • “Find the problems”
  • “Ship it!”
  • “Keep the wheels on!”
  • “Repeatability” (at ever-greater scale, turning the company into an efficient “machine”)
  • “Path to profitability”

Metrics for success

  • Demo-able proof-of-concept
  • Happy customers (product-market fit)
  • Speed of growth
  • Costs → Profitability

Use DevicePilot for...

  • Debug
  • Demo product to team and customers (a proxy for the application you haven’t written yet?).
  • Manage Assets (keep track of what’s deployed where)
  • Keep key customers happy (rapidly respond to unexpected events)
  • Measure whether quality is good-enough to launch
  • 1st-line and 2nd-line support
  • Spot problems quickly
  • Measuring service delivery
  • Measuring customer happiness
  • Root-cause analysis
  • Automating lifecycle processes
  • Product Management (understand causes of churn, feedback for v2)

 

Identified your stage but want to know more about the analytics you need to track? Check out our article Measuring for Growth, as featured on IoT Now.

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