When validating IoT business model assumptions, you should consider the following aspects to reduce risks and increase your chances of success. Here is what I have learned from various projects.
- Intuition and gut feeling do not work.
Assumptions that seem obvious may turn out to be completely different from what one would expect. Don’t let yourself be tempted to skip the validation of assumptions that seem clear to you – this might save your project at the end!
- Assumptions and hypotheses change with time.
Ideas evolve, and that means assumptions and hypotheses might change as well. Validation is in fact an ongoing task that needs your attention throughout the whole project.
- The selection of the validation method has a direct impact on the results.
Depending on who, how and what you ask, statements and outcomes will be different. So, do not choose the first validation method at random that comes to mind. Instead, think about which method could create the most objective result. For extremely critical assumptions, it can be helpful to use more than one method to make sure the outcome is valid.
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Original article: Lessons learned from validating IoT business models
Author: Philipp Richert