How do you decide between building a solution in-house or buying an existing one?

I evaluate build vs. buy by considering several key factors:

1. Core Competency: Is this solution central to our business strategy and competitive advantage? If so, building in-house is often preferable.
2. Cost and Time: What are the development costs, timelines, and resource requirements for an in-house solution versus the licensing/acquisition costs and integration effort of an external one?
3. Time to Market: How quickly can we deliver the solution to users? Buying can often be faster.
4. Long-Term Vision: Does this solution have the potential to become a significant future revenue stream or strategic differentiator? If it's critical for long-term growth, building might be justified.
5. Track Record: Does the company have a proven history of successfully developing and maintaining similar solutions?