7 Proven Strategies to Keep Your IoT Projects on Track

Derek Chin has built a reputation as a serial entrepreneur and innovation strategist. He launched his first startup at 13, co‑founded a media company, served as entrepreneur‑in‑residence at UnitedHealth Group, and consulted for Prime Therapeutics and Bright Health. As director of innovation strategy at Nerdery, he advises Fortune 500 firms on digital transformation and IoT, and as a specialized attorney he develops innovation strategies in highly regulated fields such as medical devices.

In this article we distill seven principles from Chin’s experience that help launch and manage successful IoT initiatives.

1. Measure Twice, Cut Once: Clarify Core Business Objectives

Many organizations struggle to pinpoint the exact business outcomes that IoT should deliver. Chin compares this to the woodworking rule that advises “measure twice, cut once.” Before allocating capital or deploying hardware, companies must validate assumptions through experimentation and secure buy‑in from all stakeholders. “If you don’t understand the business model and the human element, you’re missing two critical dimensions of success,” he says.

2. Don’t Underestimate Usability

Ease of use drives adoption. Amazon and Apple invest heavily to make their products intuitive, yet many IoT deployments neglect usability research. “IoT is still a Wild West,” Chin notes. “Without a clear, user‑friendly interface, the promised ROI never materializes.”

3. Think Holistically

Derek Chin from Nerdery

Launching multiple IoT technologies without a unified architecture often creates digital silos. “Different teams working on separate initiatives can be disastrous, especially in large organizations,” Chin warns. A common, standards‑compliant framework that contextualizes diverse data streams is essential.

4. Focus on Relevant Stakeholders and End Users

Successful projects bring together ops, sales, marketing, IT, and strategy in the early stages. “When we convene a cross‑functional group, we uncover hidden priorities and motivations,” he says. Front‑line users—such as production facility managers—are especially critical, as they may need to change long‑standing workflows. Engaging them early yields insights that drive ROI.

5. Identify Best‑in‑Breed Partners

Quality should trump cost. Choosing a partner with deep IoT deployment experience reduces the risk of costly missteps, such as selecting an unsuitable communications protocol. Chin advises building early prototypes and resisting the urge to scale before confirming that the prototype meets the original business objectives.

6. Understand the Risk of Being a Pioneer

Pioneering a new technology can be costly and risky. “Executives must assess whether they’re ready for that level of uncertainty,” Chin says. A fast‑follower strategy—monitoring industry leaders and quickly adopting proven solutions—can keep companies competitive while mitigating risk.

7. Beware of ‘Solutions’ in Name Only

Many vendors market generic IoT solutions, but success comes from solving specific problems. “A company that focuses narrowly on, for example, elevator maintenance will outperform a firm that offers a generic IoT package,” Chin explains.

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