Make vs. Buy
This is the classic vertical integration versus outsourcing debate. The principal factors involved in this decision process are cost, time, expertise, next generation systems, resources, and quality. The assessment of these factors as they relate to the problem at hand is often assisted by collecting information from various sources, sorting it, analyzing it and then making a decision based on the facts / information at hand within a relatively short period of time. One of the preferred methods for making these decisions is to consider the use of Scenarios. In creating each scenario, it is important to identify the "control variables", i.e. the factors which are said to change and their respective values, so that the possible outcomes can be conceived. An excellent reference for this decision making process is a book called "The Long View".
Employee vs. Contractor
Do you desire freedom, a sense of adventure, and a genuine interest in You Inc.? Then, why not become a contractor? Becoming a contractor means being self-employed which may satisfy some of the upper levels of the Maslow chart but may also inflict unwanted streaks of gray hair. Essentially understanding the market value and the market demand (obviously related) for your services will assist you in making this decision. The old adage of "having a new job before leaving your existing one" still applies as a contractor. There are a number of advantages in both instances which can be played out in Scenario Planning. Trying to see into the future, anticipate the worst and the fortunate will aid in giving you a terrific start and in being able to quickly react to "unforeseen" circumstances.
Scenario Planning is an art which weighs the combination of facts, the opinions of others, and our own subjective interpretation of events and of these other information sources. Trial and Error are certainly helpful in the learning process, however, profiting from other people's experience is certainly more intelligent.
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