When you are looking to solve a business problem, do you buy the all-in-one software, piece together different software or do you build something from scratch?
In this episode, we dive into the pros and cons of buying off-the-shelf software and building customized tools for your business. Finding the solution of whether you should buy or build your software starts from getting crystal clear on what it is you are trying to solve in your business.
Technology is just one piece of the puzzle in your business. So don’t worry about finding or building the perfect tool. It doesn’t exist. Whichever solution works best for your business, remember to focus more on the return on investment instead.
IN THIS EPISODE, YOU’LL FIND OUT…
- Process-change in a business (3:20)
- Looking to solve a business problem (3:52)
- Those who fail to plan, plan to fail (4:25)
- What are your goals? What are your resources? (4:40)
- Consider the elements involved in technology changes (5:29)
- What’s the best tool for x? (6:24)
- The Jobs To Be Done theory (7:13)
- Identify 5-10 things that the tool needs to do (9:23)
- Using best-in-class vs all-in-one vs custom software (9:57)
- Business management apps (10:55)
- Do you buy the all-in-one or hobble together different software? (12:10)
- Do you build something from scratch? (12:29)
- Understanding your ability (13:45)
- Shifting your business model vs taking your idea and finding your tools (14:42)
- Two ways of building custom software (15:35)
- Human error (17:23)
- Getting clear on your business strategy (22:07)
- Your business roles change and shift (23:30)
- The middle ground of buy and build (27:03)
- All-in-one vs best-of-breed (28:10)
- Risk vs reward (29:19)
- Downsides and problems will ebb and flow (33:21)
ADDITIONAL RESOURCES:
For full show notes visit: rising.show