Building - This comes in various task, but I consider it adding content, monetizing, blogging, coding, installing and etc. Anything work on my own site. Mostly this involves content or blogging unless I am chasing down a error or putting together a new site.
Backlinking - The most hated of all the task, but I consider this to be anything that builds links off site, Twitter, Facebook, article marketing, directory submissions, link wheels and etc. This does not have to be so painful though. It is part of the process and as hated as it is sometimes, it has to be done. Accept it. The medicine goes down much smoother then.
Buying - If you are not doing most of the other two above yourself, you likely will fall in this last category. I still pay for content and some submissions myself from time to time. I budget it into a sites earnings as they roll in. To what degree I outsource though changes from month to month. Sometimes I get on rolls and knock out my own content, sometimes I pay my writers. It is fine to outsource as long as you know exactly what you should be outsourcing and that it is being done correctly.
So there you go. Hopefully you are growing your business everyday by doing one of the 3 B's above. If you are like me, you are doing all 3.
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