Internet of Things based systems (IoT systems for short) are becoming increasingly popular across different industrial domains and their development is rapidly increasing to provide value-added services to end-users and citizens. Little research to date uncovers the core development process lifecycle needed for IoT systems, and thus software engineers find themselves unprepared and unfamiliar with this new genre of system development. To ameliorate this gap, we conducted a mixed quantitative and qualitative research study where we derived a conceptual process framework from the extant literature on IoT, through which 27 key tasks for incorporation into the development processes of IoT systems were identified. The framework was then validated by the means of a survey of 127 IoT practitioners from 35 countries across 6 continents with 15 different industry backgrounds. Our research provides an understanding of the most important development process tasks and informs both software engineering practitioners and researchers of the challenges and recommendations related to the development of next-generation of IoT systems.