Lessons Learned: When Building IoT Product Amidst a Global Pandemic Crisis
Dr. Mazlan Abbas
CEO and Co-Founder of FAVORIOT | An IOT Evangelist | Keynote Speaker | IOT Thought Leader.
Our Startup almost closed down during the COVID-19 global crisis.
We have seen many others crumble.
It’s not easy.
There was a lot of sacrifice by all of the team members.
That’s the reality of a startup founder.
The road of startup life is often filled with unexpected twists and turns.
It’s a rollercoaster ride of thrilling peaks and disheartening troughs where success and failure intermingle.
Promising Product But Wrong Timing
Our tale unfolds with a promising product whose journey was marked by unfortunate timing and intertwined with the unforeseen global pandemic.
Our story began with a spark of innovation aimed at crafting an IoT solution for the safety and well-being of seniors called Raqib.
We saw a vast market awaiting as societies globally were aging.
Yet, the market response was slow, which left us disheartened and pushed us to rethink our target audience.
Pivoting Market Segment – Wrong Timing Again!
With hope in our hearts, we shifted our focus towards ensuring the safety and health of Umrah and Hajj pilgrims.
The essence of our product stayed the same, yet now, it offered solace to pilgrims during their sacred journeys.
The initial reactions during the trials in 2018 and 2019 were hopeful.
We even added a roaming SIM card feature, making the transition from home countries to Mecca smoother for the users.
Our hearts soared as all indicators hinted at a bright future awaiting our product.
However, the winds changed in 2020 when the COVID-19 pandemic swept the globe, halting international travel.
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Limited Mobility Killed Our Product!
Our product, heavily reliant on pilgrim mobility, faced an unforeseen challenge. As travel bans extended into 2021, our product lingered uncertainly, and our spirits sank.
When the world started moving again in 2022, reality hit us hard: our product needed more than we could provide to remain viable.
The financial burden of necessary hardware upgrades and additional research was too heavy.
The cruel timing forced us to decide to discontinue our cherished project.
This period, albeit painful, served as a turning point.
Through the storm, we tirelessly worked on diversifying our projects, crafting new paths to revenue.
Looking back, the adversity fueled our growth, pushing our startup to evolve.
Our expedition with this IoT solution is a vivid testimony to the uncertainties surrounding startup endeavors.
Adapt to Survive
Numerous external factors beyond our control play significant roles, with timing being a crucial player.
However, as startup founders, our journey also showcased our adaptability and resilience.
Our obstacles morphed into stepping stones, propelling us to learn, grow, and shift our sails toward success.
As we march ahead, we cradle the invaluable lessons from this expedition close to our hearts.
We’ve learned that:
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This article, "Lessons Learned: When Building IoT Product Amidst a Global Pandemic Crisis, " was originally published on Medium.
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6 个月resilience shines through adversity. startups epitomize adaptability amidst challenges.