At the end of the 20th century, the Internet of Things term was first introduced. Since then, the phenomenon behind this technological development is still fast-growing with estimates of more than 75 billion IoT devices readily connected to the Internet by 2025. During use, each of these devices generates valuable data for the end-user whilst negotiating the cybersecurity challenges low secured IoT devices employ. Whilst these security challenges have presented businesses with extensive opportunities for value creation, there are only a handful of studies exploring the challenges and opportunities related to security, privacy, and trust in IoT platforms and systems from a business perspective. Through a series of semi-structured interviews with top-level managers of different organisations across various industries in the UK, a methodological approach was developed to capture and address IoT value creation from the business’ perspective in which trust factors are at the core of the value creation process. This research identifies four critical challenges and approaches to value creation namely: continuous scaling-up, co-creation, data-driven value creation, and user-centric design. These approaches provide comprehensive understanding on how value creation activities are critically related to cyber security and how they affect trust factors. This study is timely for an academic audience since it contributes to initiating the body of literature regards cybersecurity and business application whilst from a managerial perspective it enables industry practitioners to generate value from IoT whilst better understanding the relations between the value creation activities and cybersecurity concerns.