Episode 323
Product Development and Outsourcing
Takeaways
- The three phases of product development are market fit, refinement, and optimization.
- Outsourcing can be beneficial initially, but as businesses grow, in-house capabilities become crucial.
- Understanding the cost of outsourcing versus in-house operations is essential for profitability.
- Internal expertise provides a competitive advantage over outsourced services.
- Critical business functions should never be outsourced to maintain control and quality.
- Outsourcing can lead to a loss of connection with clients and service quality.
- Businesses should focus on their core competencies and build around them.
- The importance of evaluating what to bring in-house as a business scales.
- Maintaining a heartbeat around critical functions is vital for business success.
- Learning from experience helps in making better outsourcing decisions.
📖 Buy "Build" by Tony Fadell -
Sponsors
🌱 S.E.E.D. Planning Group - https://www.seedpg.com/
🎙️ Ditch The Suits Podcast - https://www.ditchthesuits.com/
💻 NQR Media - https://www.nqrmedia.com/
🎙️ Cut Throat College Planning Podcast - https://www.nqrmedia.com/ctcp/cut-throat-college-planning
🎓 College Prep Bootcamp - https://www.sohteam.org/college-prep-bootcamp
🎙️ One Big Thing Podcast - https://www.nqrmedia.com/one-big-thing
Chapter Markers:
00:00 - Introduction to Unleashing Leadership
01:43 - Understanding Product Development Phases
03:58 - Outsourcing vs. In-House Operations
08:54 - The Importance of Internal Expertise
12:46 - Critical Business Functions: To Outsource or Not?
