- Is it an MVP-only to prove a point to an investor?
- Is it already a semi feature-rich MVP?
- Have you proven proof of concept and want to have a solid architecture that holds a first stage of acquisition?
- Are you already looking for a website ready to scale?
After defining the scope, you need to understand what will be your approach into getting the build done?
- Are you going to outsource this construction? You can do it via Odesk (oDesk, the world’s largest online workplace ) or Fiverr (Get everything you need starting at $5) and it’s potential the “lowest short term cost” you might have. Do this short term, because if not, you can get high Technical debt.
- Are you hiring an agency or temporary contracts to build the startup? Although the cost is higher than above, the access to information and learning from the code that is delivered can be better quality.
- Are you hiring an in-house technical team? Again, the cost increases as now salaries are in the table but all development is done internally, and control of iterations is not only faster but the learning comes right away.
- Are you getting a technical co-founder/CTO? Cheapest short term, most expensive long term, and the best value for money.
- Fortunately, co-founder s are paid in equity so it’s cheaper in terms of instant physical money, but expensive long term in company shares.
- Unfortunately, can be the most expensive long term because if you get a very valuable business, the equity you granted becomes worth a lot so you paid a lot!
- It can be cheaper if your company fails. Any equity shared will then be worthless so you only had your time and opportunity cost.