A $250 million reason to prototype your IoT idea


The Ford Edsel was rolled out in 1958 with a lot of fanfair and a massive year-long advertising campaign. A year later, the Edsel was dead and Ford had lost $250 million. The Edsel has come to symbolize how not to design a product.  

How do you ensure that your next Internet of Things (IoT) solution isn’t an Edsel?

“Prototype first,” recommends Justin Lokitz, an expert in product strategy and author of Design A Better Business. He shared three key lessons from a recent IoT product launch. 

Background

The founders noticed that paying for drinks in bars was difficult. Bartending for large, noisy crowds in dark rooms is not for the faint of heart. Their idea: OneBarTab (name fictionalized) would let drinkers pay automatically using a mobile app and sensors installed at bars.

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