When trying to come up with your next product or service a common question comes up - Should we Build, Buy or Partner?
Which decision is right?
It depends. There are a lot of factors to consider. Some of which are below.
- Faster time to market
- Utilize Intellectual Property / Skills you don’t own
- Access to markets you may not otherwise be able to enter
- Reduce / Share Risk
The Ultimate Decision Point
The customer is king. Every business needs to make a Build, Buy or Partner decision when determining their go to market strategy. The smart companies consider the customer first as they go through their decision process.
Of course, some companies have a very strong NIH mentality that prevents them from considering a buy or partner decision. I’m not arguing for or against this mentality here. In some organizations (nee institutions) it’s just the way it is.
My point is … The Customer should be deciding factor.
When to consider one vs. the other.
- Partner: If there is a risk of vendor lock-in their should be a strong lean towards partnering.
- Buy: If there is time to integrate offerings a buy decision may be warranted.
- Build: If this is a new product or service offering there may be enough time to develop the product completely inside your walls.
In a follow on post I will discuss some of the factors to consider when making a Build, Buy or Partner decision.
What do you think?
- What are your decision points when making a Build, Buy or Partner decision?
- What examples of great build, buy or partner decisions have you seen?
- What lessons have you learned when implementing build, buy or partner decisions?
Please comment here or connect with me via any of my contacts points below.
About The Author:
I have spent the last 20 years working in various aspects of the ECM industry. I am currently with Kodak as a Director of Business Development. In my past I have spent time at Kofax, Microsoft, FileNet, K2, and at Captaris (which was acquired by Open Text). Prior to that I was a Unix VAR running my own company. Follow me on Twitter, check my blog, send email or find me on Facebook or LinkedIn.