7 Questions to ask for IOT business model monetization

  • Tuesday, January 01, 2019

Any Industrial Electro-Mechanical company which is looking at a new age digital business models need to carefully frame important questions to power their journey. Here are 7 critical questions.

1.What is the expected pricing model?

  • per asset/month
  • per outcome/month
  • per output /month

2.Which Business Model do you want to adopt?

3.What are the 5 riskiest assumptions regarding business model needs to be tested in next 90 days?

  • Asset Assumption
  • Market Place
  • Pricing model
  • Mental model
  • Competitive Assumptions

4.Which industry vertical or marketplace to target for IOT monetization?

5.How will you measure the success of the new business model in first 2 years?

6.What organization structure changes need to be done to support new Business model?

7.What are other similar industries doing?


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