In summary, building an IoT application will be most successful if traditional product development practices are followed, including identifying the drivers for the design (gaining net new revenue through new products vs. improving margin through internal projects); consideration of the design factors specific to an IoT application like power, sensors, connectivity and analytics to name a few. As well the research into hardware and sensors that are available off the shelf will speed the time to market. From there planning on how to develop and manufacture the product through in-house resources or outsourced development can smooth the path towards a viable product. Finally, the feedback gathered from creating a proof of concept and prototype will aid in final steps of designing for manufacturability and production. Ultimately, IoT application developers should seriously consider the use of highly available, off the shelf components to get an initial product to market. This will speed the time required and ensure that there is a market for the product, capture user feedback while allowing the developer to determine if, when or how the product should start to become cost-optimized.