Since IoT is very popular right now, many companies are jumping on the bandwagon to try and implement their own. However, not every attempt is successful, and sometimes a company may either give up or de-prioritize a project if it gets too difficult to execute. How does one keep the momentum going?

We asked this question to members of the Forbes Technology Council in an attempt to gain some insight on this problem. The answers varied, but it became clear that having a clear plan and knowing the numbers inside out give a fighting chance to a company that wants to attempt to go this route. The advice given may be useful if your company is thinking about ways to create a new IoT project.

1. Start Showing Value

There are really two things that can be done to prevent this. First, the project must have dedicated resources allocated to it. Often, IoT projects "borrow" resources that don't have the success of the project as a primary objective. Next, decide how you will measure value at the start and report on it frequently. It's hard to create a business justification up front, so show the value as you go. - Jeffrey Fortin, Vector

2. Focus On Research And Development

R&D is essential in any new technology endeavor, and companies shouldn't lose sight of it. Make sure the basics are covered and move forward. Also, don't close your ears to what the market is saying, and always stay on top of the latest trends in your niche to make sure your product development is heading the right way. The consumer is king, and their demands should be your guide. - Nick Chandi, PayPie