In a simple way of looking at solutions, the decision comes down to build or buy. We run into this a lot in planning and running a business. Time after time we are faced with the decision of either doing something ourselves or finding someone else to handle it. Yes, even the decision to outsource boils down to a build or buy conundrum.
Build Or Buy – Common Themes
Although very situation requires reflection, there are similarities in these options that can help us with our decision. Thus, we can look at pros and cons of each approach that are nearly universal. This may not get us to an easy answer. However, it can get us to a decision sooner when we have to make one.
The bulk of this episode looks at some common pros and cons to each approach. These may seem obvious, but it is often easy to forget about some of these features and challenges when we are focused on a new or difficult situation.
Doing It Right
Nothing in business is a simple decision. Once we have chosen our path we need to implement it. Each of these options have some best practices that can help us improve the likelihood of success whether we do it ourselves, hire a vendor, or buy something off a shelf.