--- title: "Deciding Whether to Build or Buy: A \"MVP\" Guide to Minimizing Costs and Maximizing Efficiency" description: This post will go over the average costs for tech companies looking to expand their solutions and build an MVP from scratch. image: https://blog.hiringthing.com/hubfs/The%20Cost%20of%20Building%20an%20MVP.jpg --- [![HiringThing-Teal-Green](https://blog.hiringthing.com/hs-fs/hubfs/Graphic%20Elements/Logos/HiringThing-Teal-Green.png?width=1686&height=270&name=HiringThing-Teal-Green.png "HiringThing-Teal-Green")](https://hiringthing.com) Open main menu Close main menu - [Blog](https://blog.hiringthing.com/) - Platform Open the submenu - Products Open the submenu - [Applicant Tracking](https://www.hiringthing.com/white-label/applicant-tracking-system/) - [Employee Onboarding](https://www.hiringthing.com/white-label/employee-onboarding/) - [Workflow Management](https://www.hiringthing.com/white-label/workflow-management/) - Overview Open the submenu - [White Label](https://www.hiringthing.com/white-label/) - [Partner Experience](https://www.hiringthing.com/partner-experience/) - [Developers](https://www.hiringthing.com/developers/) - [Integrations](https://www.hiringthing.com/integrations/) - [Security](https://www.hiringthing.com/security/) - Solutions Open the submenu - Industries Open the submenu - [HR Technology](https://www.hiringthing.com/white-label/hr-technology/) - [PEO & ASO](https://www.hiringthing.com/white-label/hr-organizations/) - [HR Consulting](https://www.hiringthing.com/white-label/hr-consulting/) - [Staffing](https://www.hiringthing.com/white-label/staffing/) - [Construction Software](https://www.hiringthing.com/white-label/construction/) - [Franchise](https://www.hiringthing.com/white-label/franchise/) - [Associations](https://www.hiringthing.com/white-label/associations/) - Company Open the submenu - [About Us](https://www.hiringthing.com/company/) - [Careers](https://careers.hiringthing.com/) - Compare HiringThing Open the submenu - [HiringThing vs. JazzHR](https://www.hiringthing.com/hiringthing-vs-jazzhr/) - [HiringThing vs. ICIMS](https://www.hiringthing.com/hiringthing-vs-icims/) - [HiringThing vs. GoHire](https://www.hiringthing.com/hiringthing-vs-gohire/) - [Press](https://www.hiringthing.com/company/press/) - [Contact Us](https://www.hiringthing.com/company/contact-us/) - Log In Open the submenu - [Applicant Tracking](https://login.hiringthing.com/users/login) - [Employee Onboarding](https://app.hiringthing-onboarding.com/signup) - [GET STARTED](https://www.hiringthing.com/private-label/discovery) [SaaS Insights](https://blog.hiringthing.com/tag/saas-insights) [The State of HR Tech](https://blog.hiringthing.com/tag/the-state-of-hr-tech) # Deciding Whether to Build or Buy: A "MVP" Guide to Minimizing Costs and Maximizing Efficiency ![Pat Brothwell](https://blog.hiringthing.com/hs-fs/hubfs/1621426681866%20(1).jpg?width=45&name=1621426681866%20(1).jpg) [Pat Brothwell](https://blog.hiringthing.com/author/pat-brothwell) [Share this blog post on Twitter](https://twitter.com/intent/tweet?text=I+found+this+interesting+blog+post&url=https://blog.hiringthing.com/the-cost-of-building-an-mvp) [Share this blog post on Facebook](http://www.facebook.com/share.php?u=https://blog.hiringthing.com/the-cost-of-building-an-mvp) [Share this blog post on LinkedIn](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.hiringthing.com/the-cost-of-building-an-mvp) ![A software engineer looks into how much an MVP costs to build. ](https://blog.hiringthing.com/hubfs/The%20Cost%20of%20Building%20an%20MVP.jpg) In the continuously evolving technological landscape that we live in, companies often face a critical decision when expanding their offerings: Should they build a new software product from scratch or purchase a pre-existing solution? This "[build vs. buy](https://blog.hiringthing.com/alternative-to-building-your-own-ats)" dilemma is particularly prevalent in industries where software solutions are integral to operations, and choosing the right approach can significantly impact a company’s resources, timeline, and overall success. We will help you explore the factors involved in making this decision, focusing on the concept of developing a [Minimum Viable Product](https://blog.hiringthing.com/going-multiproduct-building-your-product)(MVP) and the associated costs. We'll also consider the alternative of [white labeling](https://blog.hiringthing.com/why-saas-companies-should-white-label) SaaS (Software as a Service) solutions as a way to circumvent the complexities and expenses of building a new product from the ground up. ### What is a Minimum Viable Product? Before we dive into the costs and considerations, it’s essential to understand what a Minimum Viable Product (MVP) is. An MVP is a version of your software that includes only the essential features needed to satisfy early adopters and start generating revenue. The goal of an MVP is not to be perfect or fully-featured but to deliver enough value to customers that they are willing to pay for it. An MVP allows companies to test their product ideas with minimal investment, gather feedback, and make necessary adjustments before fully committing to a more comprehensive product development. However, even with its streamlined approach, developing an MVP is far from inexpensive. ## Understanding the Costs of Building an MVP ### Monetary Cost The financial investment required to build an MVP can vary significantly depending on the complexity of the product, the industry, and the resources available. On average, estimates for developing an [MVP range from $50,000 to $250,000](https://jhmediagroup.com/blog/2019/07/17/how-to-calculate-your-cost-to-build-a-saas-system/#:~:text=Our%20experience%20building%20software%20as,%2C%20falling%20between%20%2450%2D250k.). However, it’s crucial to recognize that these figures can quickly escalate. One of the primary reasons for cost overruns is the unforeseen expenses that arise during the development process. For instance, [70% of software development costs](https://www.infoworld.com/article/2655895/to-build-or-to-buy-it-applications-.html#:~:text=When%20evaluating%20whether%20to%20buy,software%20costs%20occur%20after%20implementation.) occur after the initial implementation. Additionally, unexpected changes during development can lead to projects costing up to 189% more than initially estimated. Moreover, after the MVP is built, there are ongoing [costs associated](https://www.projectsmart.co.uk/white-papers/chaos-report.pdf) with maintaining and updating the product. Companies must allocate resources to ensure the product remains functional, secure, and competitive. This often requires diverting the attention of the core team or hiring additional staff, both of which come with their own [set of expenses](https://blog.hiringthing.com/the-cost-of-building-an-applicant-tracking-system). #### Staffing Costs One of the most significant and often underestimated costs in building an MVP is staffing. Developing a new product requires a team of skilled professionals, including software engineers, product managers, designers, and quality assurance testers. The cost of hiring these professionals can be substantial. In 2021, [61% of U.S. recruiters](https://www.accelerance.com/hubfs/2022%20Global%20Software%20Outsourcing%20Trends%20and%20Rates%20Guide.pdf?utm_campaign=2021%20Software%20Outsourcing%20Rates%20and%20Trends%20Campaign&utm_medium=email&_hsmi=175367915&_hsenc=p2ANqtz-8nr4GcXhTyvtQ45F2RBhOq-w2gcVg4WtUCibnEMuTn4AIv98yTLmreK3eHr-KRo5t24P6JLwOxDOn5Zm0OcnBkmQ3kxTyVIwpAD6SB_ECvnKcWXlY&utm_content=175367915&utm_source=hs_automation) identified hiring developers as one of their biggest challenges, citing the process as complex, lengthy, and expensive. The average salary for a software developer in the U.S. is $110,140, but this figure varies by location and can be even higher in major tech hubs. ![This chart shows the average software engineer salary by city. ](https://blog.hiringthing.com/hs-fs/hubfs/undefined.png?width=735&height=609&name=undefined.png) ![This chart shows the average software engineer salary by country. ](https://blog.hiringthing.com/hs-fs/hubfs/undefined-1.png?width=781&height=690&name=undefined-1.png)For companies considering outsourcing development talent, it’s important to account for the costs associated with recruiting these positions, as well as taxes, benefits, and other related expenses. Additionally, supporting the product's launch will likely require expanding other departments, such as customer success, sales, and marketing, further increasing the overall cost. ### Time Costs Building an MVP is not only expensive but also time-consuming. On average, it takes between 2 to 10 months to develop an MVP, though some reports suggest it can take up to 8 or 9 months to get a platform up and running. This timeline includes not just the development itself but also the time needed to hire or outsource new talent, train the team, and build the necessary marketing and sales infrastructure. Companies must also account for potential delays and pivots during the development process, which can further extend the timeline. Given these time constraints, it’s important to consider whether the company can afford to wait that long to bring a new product to market or if a faster alternative is needed. ## White Labeling SaaS Solutions: A Cost-Effective Alternative For many companies, the costs and time associated with building an MVP from scratch are prohibitive. In such cases, white labeling SaaS solutions can be an attractive alternative. White labeling involves purchasing a pre-existing software solution from a vendor, rebranding it, and presenting it as a proprietary product. This approach offers several advantages: 1. **Speed to Market:** White labeling allows companies to bring a new product to market quickly, often within weeks or months, compared to the longer timeline required for building an MVP. 2. **Cost Efficiency:** By purchasing a ready-made solution, companies can avoid the significant upfront costs associated with development, staffing, and ongoing maintenance. 3. **Risk Reduction:** White labeling reduces the risks inherent in product development, such as unforeseen technical challenges, cost overruns, and delays. 4. **Focus on Core Competencies:** By opting for a white-labeled solution, companies can focus on their core competencies, such as marketing, sales, and customer service, rather than getting bogged down in the complexities of software development. ## [![The Ultimate Guide for White Label SaaS Partnerships](https://no-cache.hubspot.com/cta/default/9445952/interactive-158774864003.png)](https://blog.hiringthing.com/hs/cta/wi/redirect?encryptedPayload=AVxigLKsWYkogDbmGlUrwefbsBRUDur03IwH0WbslWW4htJ0PuyBfxfjTMmHRx7Nnft5Kkhl3TkikkJBJaWbmcEMB1oQDQdQS%2Fs%2BWSUEkBKz8HoJO0Do6Ww3ZCn8mjFCihnLODaUJLAr%2FN8njUJftrAd1%2F0A52VQkmxMlVKH16L1iIj1wk4dAHiNfNKd7073xX1GWVJYJfrNZw%3D%3D&webInteractiveContentId=158774864003&portalId=9445952) Making the Decision: Build or Buy? Deciding whether to build or buy a new product is not a decision to be taken lightly. It requires a thorough analysis of the company’s goals, resources, and market conditions. Here are some key factors to consider: - **Business Goals:** What are the company’s long-term objectives? If the goal is to create a highly customized product that aligns perfectly with the company’s vision, building may be the better option. However, if the goal is to quickly enter a new market or add a new feature to an existing product, white labeling may be more appropriate. - **Budget:** Can the company afford the costs associated with building an MVP, including development, staffing, and ongoing maintenance? If the budget is limited, white labeling may offer a more cost-effective solution. - **Time to Market:** How quickly does the company need to bring the product to market? If speed is a critical factor, white labeling can significantly reduce the time required to launch a new product. - **Technical Expertise:** Does the company have the necessary technical expertise in-house, or will it need to hire or outsource talent? If the latter, the costs and time associated with recruiting and training should be factored into the decision. - **Market Demand:** Is there a clear demand for the product, or is the company testing the waters? If the latter, white labeling can provide a low-risk way to enter the market and gauge customer interest before committing to a full-scale build. ## The Build vs. Buy Decision The "build vs. buy" decision is a complex one that requires careful consideration of various factors, including cost, time, and the company’s long-term goals. While building an MVP offers the potential for a highly customized solution, it comes with significant risks and expenses. On the other hand, white labeling provides a faster, more cost-effective way to bring a new product to market, allowing companies to focus on their core competencies and reduce development risks. Ultimately, the right choice will depend on the specific needs and circumstances of the company. By thoroughly analyzing the options and weighing the pros and cons, businesses can make an informed decision that maximizes their resources and positions them for success in an increasingly competitive market.   ### About HiringThing HiringThing is a modern recruiting and employee onboarding platform as a service that creates seamless talent experiences. Our white label solutions and open API enable HR technology and service providers to offer hiring and onboarding to their clients. Approachable and adaptable, the HiringThing HR platform empowers anyone, anywhere to build their dream team. ![Pat Brothwell](https://blog.hiringthing.com/hs-fs/hubfs/1621426681866%20(1).jpg?width=150&name=1621426681866%20(1).jpg) #### Pat Brothwell [Follow me on LinkedIn](https://www.linkedin.com/in/pat-brothwell-275b82196/) Pat Brothwell was a Content Marketer at HiringThing, where he created and oversaw the HiringThing Content Strategy. Pat’s long been passionate about democratizing the world of work and ensuring recruiting and hiring is fair and equitable for all. When he’s not immersed in content, Pat enjoys hiking, traveling, Bruce Springsteen, and blogging about his new home in Asheville, North Carolina. ## Related Articles [![Coworkers start building a multiproduct strategy. ](https://blog.hiringthing.com/hubfs/How%20to%20Become%20a%20Multiproduct%20SaaS%20Vendor.jpg)](https://blog.hiringthing.com/start-building-a-multiproduct-strategy) [SaaS Insights](https://blog.hiringthing.com/tag/saas-insights) [The State of HR Tech](https://blog.hiringthing.com/tag/the-state-of-hr-tech) ### [Start Building a Multiproduct Strategy](https://blog.hiringthing.com/start-building-a-multiproduct-strategy) Building a successful multiproduct strategy requires careful planning and execution, but with the right approach can be a game changer for your business. We’ve already... ![Pat Brothwell](https://blog.hiringthing.com/hs-fs/hubfs/1621426681866%20(1).jpg?width=45&name=1621426681866%20(1).jpg) [Pat Brothwell](https://blog.hiringthing.com/author/pat-brothwell) [Read More](https://blog.hiringthing.com/start-building-a-multiproduct-strategy) [![](https://blog.hiringthing.com/hubfs/How%20to%20Build%20an%20Applicant%20Tracking%20System.jpg)](https://blog.hiringthing.com/the-cost-of-building-an-applicant-tracking-system) [SaaS Insights](https://blog.hiringthing.com/tag/saas-insights) [The State of HR Tech](https://blog.hiringthing.com/tag/the-state-of-hr-tech) ### [The Cost of Building an Applicant Tracking System](https://blog.hiringthing.com/the-cost-of-building-an-applicant-tracking-system) ## Recruiting and Retention are the Top Reasons Companies Invest in HR Technology Hiring is a universal business challenge across all industries. This is why [90% of...](https://blog.hiringthing.com/hr-tech-statistics) ![Pat Brothwell](https://blog.hiringthing.com/hs-fs/hubfs/1621426681866%20(1).jpg?width=45&name=1621426681866%20(1).jpg) [Pat Brothwell](https://blog.hiringthing.com/author/pat-brothwell) [Read More](https://blog.hiringthing.com/the-cost-of-building-an-applicant-tracking-system) [![HiringThing\_Logo\_White\_no-space](https://blog.hiringthing.com/hs-fs/hubfs/HiringThing_Logo_White_no-space.png?width=275&name=HiringThing_Logo_White_no-space.png "HiringThing_Logo_White_no-space")](https://hiringthing.com) --- A modern recruiting platform as a service that creates seamless hiring experiences. Approachable and adaptable, the platform empowers anyone, anywhere to hire their dream team. [Follow us on LinkedIn](https://www.linkedin.com/company/hiringthing) [Follow us on Facebook](https://www.youtube.com/c/hiringthing) [Follow us on Twitter](https://www.twitter.com/hiringthing) [Follow us on Facebook](https://www.facebook.com/HiringThing/) - [Platform](https://www.hiringthing.com/private-label/) - [Developers](https://www.hiringthing.com/developers) - [Company](https://www.hiringthing.com/company) - [Blog](https://blog.hiringthing.com) - [Start Trial](https://register.hiringthing.com/register/start) - [Support](https://support.hiringthing.com/support/home) - [HiringThing Status](https://status.applicant-tracking.com/) - [Remote Work Hub](https://www.hiringthing.com/company/remote-work-hub/) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Pat Brothwell", "url" : "https://blog.hiringthing.com/author/pat-brothwell" }, "dateModified" : "2026-08-12T21:00:53.444Z", "datePublished" : "2023-06-05T04:15:00.000Z", "headline" : "Deciding Whether to Build or Buy: A \"MVP\" Guide to Minimizing Costs and Maximizing Efficiency", "image" : [ "https://blog.hiringthing.com/hubfs/The%20Cost%20of%20Building%20an%20MVP.jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.hiringthing.com/hubfs/HiringThing_Logo_TealGreen.png" }, "name" : "HiringThing, Inc." } } ``` ```json { "@context" : "https://schema.org", "@id" : "https://hiringthing.com/#organization", "@type" : "Organization", "contactPoint" : { "@type" : "ContactPoint", "contactType" : "sales", "url" : "https://www.hiringthing.com/company/contact-us/" }, "description" : "HiringThing is a modern recruiting and employee onboarding platform as a service that enables HR technology and service providers to offer white label hiring and onboarding to their clients.", "foundingDate" : "2012", "knowsAbout" : [ "White label applicant tracking systems", "Employee onboarding software", "Recruiting technology", "HR technology partnerships", "SaaS product strategy", "Multi-tenant SaaS architecture", "Build vs. buy software decisions" ], "logo" : { "@type" : "ImageObject", "height" : 270, "url" : "https://blog.hiringthing.com/hs-fs/hubfs/Graphic%20Elements/Logos/HiringThing-Teal-Green.png", "width" : 1686 }, "name" : "HiringThing", "sameAs" : [ "https://www.linkedin.com/company/hiringthing", "https://www.twitter.com/hiringthing", "https://www.facebook.com/HiringThing/", "https://www.crunchbase.com/organization/hiringthing", "https://www.g2.com/products/hiringthing/reviews" ], "url" : "https://hiringthing.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/#website", "@type" : "WebSite", "inLanguage" : "en-US", "name" : "HiringThing Blog", "publisher" : { "@id" : "https://hiringthing.com/#organization" }, "url" : "https://blog.hiringthing.com" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/author/pat-brothwell#person", "@type" : "Person", "description" : "Pat Brothwell was a Content Marketer at HiringThing, where he created and oversaw the HiringThing content strategy. He writes about democratizing the world of work and making recruiting and hiring fair and equitable for all.", "image" : "https://blog.hiringthing.com/hs-fs/hubfs/1621426681866%20(1).jpg", "jobTitle" : "Content Marketer", "knowsAbout" : [ "SaaS product strategy", "Build vs. buy analysis", "Minimum viable product development", "White label software partnerships", "Recruiting and hiring technology", "Content marketing" ], "name" : "Pat Brothwell", "sameAs" : [ "https://www.linkedin.com/in/pat-brothwell-275b82196/" ], "url" : "https://blog.hiringthing.com/author/pat-brothwell", "worksFor" : { "@id" : "https://hiringthing.com/#organization" } } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#webpage", "@type" : "WebPage", "breadcrumb" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#breadcrumb" }, "inLanguage" : "en-US", "isPartOf" : { "@id" : "https://blog.hiringthing.com/#website" }, "name" : "Deciding Whether to Build or Buy: A \"MVP\" Guide to Minimizing Costs and Maximizing Efficiency", "primaryImageOfPage" : { "@type" : "ImageObject", "caption" : "A software engineer looks into how much an MVP costs to build.", "height" : 420, "url" : "https://blog.hiringthing.com/hubfs/The%20Cost%20of%20Building%20an%20MVP.jpg", "width" : 760 }, "speakable" : { "@type" : "SpeakableSpecification", "cssSelector" : [ "h1", ".blog-post__body" ] }, "url" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#breadcrumb", "@type" : "BreadcrumbList", "itemListElement" : [ { "@type" : "ListItem", "item" : "https://blog.hiringthing.com/", "name" : "Blog", "position" : 1 }, { "@type" : "ListItem", "item" : "https://blog.hiringthing.com/tag/saas-insights", "name" : "SaaS Insights", "position" : 2 }, { "@type" : "ListItem", "name" : "Deciding Whether to Build or Buy: A \"MVP\" Guide to Minimizing Costs and Maximizing Efficiency", "position" : 3 } ] } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#article", "@type" : "BlogPosting", "about" : [ { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-minimum-viable-product" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-build-vs-buy" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-white-labeling" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-saas" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-speed-to-market" } ], "alternativeHeadline" : "The Cost of Building an MVP: Build vs. Buy for Software Companies", "articleSection" : [ "SaaS Insights" ], "author" : { "@id" : "https://blog.hiringthing.com/author/pat-brothwell#person" }, "dateModified" : "2023-05-15", "datePublished" : "2023-05-15", "description" : "What it really costs to build an MVP from scratch, from $50K-$250K budgets to staffing and timelines, and when white labeling a SaaS solution is the better call.", "headline" : "Deciding Whether to Build or Buy: A \"MVP\" Guide to Minimizing Costs", "image" : { "@type" : "ImageObject", "height" : 420, "url" : "https://blog.hiringthing.com/hubfs/The%20Cost%20of%20Building%20an%20MVP.jpg", "width" : 760 }, "inLanguage" : "en-US", "isAccessibleForFree" : true, "keywords" : [ "cost of building an MVP", "minimum viable product", "build vs. buy", "white label SaaS", "software development costs", "developer staffing costs", "speed to market", "SaaS product expansion" ], "mainEntityOfPage" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#webpage" }, "publisher" : { "@id" : "https://hiringthing.com/#organization" }, "wordCount" : 1400 } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#faq", "@type" : "FAQPage", "mainEntity" : [ { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "A minimum viable product is a version of a software product that includes only the essential features needed to satisfy early adopters and begin generating revenue. An MVP is not meant to be perfect or fully featured. Its purpose is to deliver enough value that customers will pay for it, letting a company test the idea with minimal investment and gather feedback before committing to full development." }, "name" : "What is a minimum viable product (MVP)?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "Estimates for developing an MVP generally range from $50,000 to $250,000, though the figure varies with product complexity, industry, and available resources. These numbers escalate easily: roughly 70% of software development costs occur after initial implementation, and unexpected changes during development can push projects to as much as 189% over the original estimate." }, "name" : "How much does it cost to build an MVP?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "Building an MVP typically takes between two and ten months, with some reports putting it at eight or nine months to get a platform running. That window covers more than development alone. It also includes hiring or outsourcing talent, training the team, building marketing and sales infrastructure, and absorbing the delays and pivots that come up along the way." }, "name" : "How long does it take to build an MVP?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "New product development requires software engineers, product managers, designers, and QA testers, and hiring them is expensive. The average U.S. software developer salary is about $110,140 and runs higher in major tech hubs. In 2021, 61% of U.S. recruiters called hiring developers one of their biggest challenges. Taxes, benefits, recruiting costs, and expanded sales and support teams add more." }, "name" : "Why are staffing costs the most underestimated part of MVP development?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "White labeling means purchasing an existing software solution from a vendor, rebranding it, and offering it as a proprietary product. It gives companies a way to expand their offering without building from scratch, avoiding the upfront development, staffing, and ongoing maintenance costs that come with owning a codebase outright." }, "name" : "What is white labeling a SaaS solution?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "White labeling offers four main advantages. Speed to market, since launch often takes weeks or months instead of many months. Cost efficiency, by avoiding upfront development and staffing spend. Risk reduction, by sidestepping technical surprises, cost overruns, and delays. And focus, letting a company put its energy into marketing, sales, and customer service rather than software development." }, "name" : "What are the advantages of white labeling over building an MVP?" }, { "@type" : "Question", "acceptedAnswer" : { "@type" : "Answer", "text" : "Weigh five factors: long-term business goals, available budget, required time to market, in-house technical expertise, and proven market demand. Building suits companies that need a deeply customized product and have the resources to sustain it. White labeling suits companies entering a new market quickly, working with a limited budget, or testing demand before committing to a full build." }, "name" : "How should a company decide whether to build or buy software?" } ] } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#howto", "@type" : "HowTo", "description" : "A five-factor framework for evaluating whether to build a minimum viable product in-house or white label an existing SaaS solution.", "name" : "How to Decide Whether to Build or Buy a New Software Product", "step" : [ { "@type" : "HowToStep", "name" : "Clarify business goals", "position" : 1, "text" : "Define the company's long-term objectives. A highly customized product that matches a specific vision argues for building, while quickly entering a new market or adding a feature argues for white labeling." }, { "@type" : "HowToStep", "name" : "Assess the budget", "position" : 2, "text" : "Determine whether the company can absorb development, staffing, and ongoing maintenance costs. A limited budget points toward a white labeled solution." }, { "@type" : "HowToStep", "name" : "Set the time to market", "position" : 3, "text" : "Establish how quickly the product needs to launch. When speed is critical, white labeling cuts the timeline substantially compared with a build." }, { "@type" : "HowToStep", "name" : "Audit technical expertise", "position" : 4, "text" : "Confirm whether the required engineering talent exists in-house. If hiring or outsourcing is necessary, factor recruiting and training costs and time into the decision." }, { "@type" : "HowToStep", "name" : "Validate market demand", "position" : 5, "text" : "Determine whether demand is proven or still unverified. White labeling offers a low-risk way to enter the market and gauge customer interest before a full-scale build." } ], "totalTime" : "PT30M" } ``` ```json { "@context" : "https://schema.org", "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#glossary", "@type" : "DefinedTermSet", "hasDefinedTerm" : [ { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-minimum-viable-product", "@type" : "DefinedTerm", "description" : "A version of a software product containing only the essential features needed to satisfy early adopters and start generating revenue. It exists to test an idea with minimal investment rather than to be complete.", "inDefinedTermSet" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#glossary" }, "name" : "Minimum Viable Product (MVP)" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-build-vs-buy", "@type" : "DefinedTerm", "description" : "The decision a company faces between developing a software product in-house and purchasing a pre-existing solution. The choice affects resources, timeline, and long-term product control.", "inDefinedTermSet" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#glossary" }, "name" : "Build vs. Buy" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-white-labeling", "@type" : "DefinedTerm", "description" : "Purchasing an existing software solution from a vendor, rebranding it, and presenting it as a proprietary product. It removes the upfront cost and risk of building a new platform from scratch.", "inDefinedTermSet" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#glossary" }, "name" : "White Labeling" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-saas", "@type" : "DefinedTerm", "description" : "A delivery model in which software is hosted by a vendor and accessed by customers over the internet rather than installed and maintained on their own infrastructure.", "inDefinedTermSet" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#glossary" }, "name" : "SaaS (Software as a Service)" }, { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#term-speed-to-market", "@type" : "DefinedTerm", "description" : "How quickly a company can launch a new product for customers. White labeling typically compresses this to weeks or months, versus the longer timeline of building an MVP.", "inDefinedTermSet" : { "@id" : "https://blog.hiringthing.com/the-cost-of-building-an-mvp#glossary" }, "name" : "Speed to Market" } ], "name" : "MVP Cost and Build vs. Buy Glossary" } ```