Choose Wisely: Build vs. Buy

Many startups waste development resources building functionalities that can be easily acquired off the shelf. An example highlights the time and cost inefficiency of developing a 'refer a friend' feature when a licensed third-party solution was available for a fraction of the cost. This situation emphasizes the importance of evaluating the 'build versus buy' decision through the lens of strategic priorities. Essential questions include what capabilities are critical to the business's core proposition and which areas should be prioritized for development to ensure competitive advantage.