Overcoming the bias to build everything doesn't come easy for good product managers & engineers.
There are many resources online to help evaluate this; but below are some lesser-known factors to consider -
1. Is this a part of your core value offering?
2. Will this tool give you a competitive edge?
3. Can you monetise it later?
4. Opportunity cost (Softer elements)
5. Product advancements
6. Scope of innovation
7. Recurring cost is not ZERO
8. Ignore the implementation time
More about each factor in the article.
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This post was originally shared by Subham Kumar Boundia on Linkedin.