Why are most software projects late and vastly over budget? The person requesting the software has no idea about software development and just puts together a vague list of 'wants'.
So the issue is specifications and product management.
So if you are in the software business but want to outsource it's development my advice is to learn some coding, keep up with technological trends and write your specifications with the functionality of the end user in mind (i.e. detailed UI mockups), not a list of 'features' and you don't care how they get there.
NO! You learn to sell. Then you can sell the idea to prospects, investors and startup incubators, and get the financing to get an experienced team to do it the right way.
You can't learn ALL the things that you have to have a fundamental to do a project these days. User interface design, database design, code, server software, webserver, cacheing, cloud computing, DNS redundancy and more... When MJ, Amazon, eBay and all the examples people want to throw out there, it was the wild west times of the Internet. We are way passed that.
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