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Lots of good thoughts. I’ll add some variables to the mix that I don’t think business owners always see in the more standard ways of looking at valuing their time:

Enjoyment. If you love learning a new skill, you cannot easily price this.

Future. DIY websites give you skills for the future of the business or new businesses.

Serendipitous learning. By building my own WordPress site, I needed to research plugins. While doing this, I discovered other, unrelated plugins. They offered functionality that completely changed the possibilities of my site.

Rapid change. If you want to change something within your skill set, you can, at any time. No waiting while customers suffer. Rounds of development, backtracking, or new ideas, are costly. You can experiment with a DIY approach and adapt.

Where else could you be? If you could be doing something else, earning more, is it time to let go? Few business owners would choose to do their own development if they could outsource or delegate. Given their we are solopreneurs or very limited resources on here, or at very early stages of something bigger, DIY is often appropriate.

Time to market. If someone takes 3 months to learn to build a website and a competitor moves in, it wasn’t clever to thwart a business by doing it in-house. If I were starting a blog today, I’d self-build without a doubt (and I did). Starting a new platform with APIs for time zones, newsletter, worldwide currencies, PayPal, newsletter, meeting scheduling and functionality all over the place, and no experience of .NET, I’d get experts in (and I did)!