Over the past few years Internet of Things (IoT) has touched most people. Companies have been competing with each other in inventing new IoT based products and services. It has become a real business opportunity for various companies and a luxury for end users. Yet, the research on securing the Internet of Things (IoT) is in its infancy. In this study, we use the “value-focused thinking” approach to systematically identify IoT security values and objectives from 58 IT professionals. This study provides a foundation for strategically planning and thinking about IoT security. We present four fundamental objectives and thirteen means objectives. The results of this qualitative study will help researchers and practitioners identify and prioritize key IoT security issues.