Startups For the Rest of Us
Episode 590 | Buying vs Building, Zombie Companies, and More Listener Questions with Craig Hewitt
Feb 15, 2022
Craig Hewitt, an expert in internal tools and startup challenges, shares valuable insights for founders. He discusses the tough decisions between buying and building internal tools, along with tips for navigating a competitive space as a solo founder. Hewitt also delves into the phenomenon of 'zombie companies,' where investors demand their money back, and offers advice on selecting the right accounting software. He emphasizes the importance of collaboration for non-technical founders looking to connect with the right talent.
37:03
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Quick takeaways
- Considering buying existing software solutions rather than building internal tools can optimize resource allocation and enhance startup productivity.
- Establishing a unique positioning and leveraging personal branding are essential for solo founders to succeed in competitive markets.
Deep dives
Building or Buying Internal Tools
Building internal tools versus buying pre-existing solutions is a common dilemma faced by startups. It is generally advantageous to consider purchasing software solutions rather than developing them in-house, as this can save both time and resources. The podcast emphasizes that unless the tool is essential to the core functionalities of the product, leveraging existing software often leads to better outcomes. Spending valuable developer time on maintenance instead of focusing on growth or product improvement is viewed as inefficient.
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