Q1: How would you describe the current state of IoT?
A1: It is a balagan! …a mess. Everyone seems to be chasing how to be everything to everybody and no one knows how to be a partner.
Q2: Who is more successful than most in IoT right now?
A2: Conference organizers, industry analysts, investment bankers and Private Equity firms. Companies that understand productization and that are moving to more of a mid-market focus. There are six million registered business in the US, and the majority are single proprietor or zero employee organizations. So throw them out (for the most part). The next tier are the 600,000 companies that are in the mid-market who buy product. The largest 6000 companies will BUILD – but to scale, someone needs to focus on those who choose BUY over build. Companies like MyDevices have realized how to productize solutions so that their partners (Sprint) can sell and as a result are thriving.
Q3: What is the most common thing that you are asked from companies trying to participate in IoT.
A3: One of three questions 1: Who is making money? 2. Who should I partner with? 3. What is my market position against my competitors. They should have asked: what are we doing right and what are we doing that’s wrong?
Q4: What is the dumbest thing you have seen in the market lately?
A4: A company sold off a recurring revenue asset monitoring business to generate cash for less valuable opportunities. Recurring revenue should be everyone’s goal.
Q5: What excites you most about IoT today?
A5: Opportunity and upside – no one has fully cracked the code on the IoT market, but the activity is overwhelming. It is quickly moving from theory to experimentation to practice. The hyper focus on the “whales” instead of the mid-market shows the industry is still very immature.