Before the build, buy, or partner decision for your next product or technology can be made, it is essential that your overarching goals are clearly defined and socialized. More specifically, clarity with both “what” you’re trying to accomplish as well as “why” will best position you to proceed with confidence as you shift your thoughts to “how” to get it done.
Whether you’re a start-up or a well-established company, chances are a new or enhanced software product might be in your future. As you evaluate your particular needs, you may weigh the differences in buying an off-the-shelf solution, partnering with a complementary third-party solution provider or building the solution.
Many companies are known to cut a department’s budget the following year if funds go unused. Similarly, those departments that are able to ear mark where all funds were spent, often have the opportunity for an increased budget the following year. It is worth it to take a timely but thoughtful look at what you have remaining and where you can get the most traction.