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Product Development and Outsourcing
Manage episode 449722142 series 3522234
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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.
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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?
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