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Journal

Today’s journal comes from Issac Hill of LogoBids.

This past week was a good one for my startup. We met with the firm developing our business plan. Interesting enough, he opened our eyes to a lot of key elements within our business that we had not addressed or considered yet. We have brainstormed our idea, shared it with friends and family in order to get feedback, but we didn’t have a complete picture until after meeting with the firm.


LogoBid

The one thing we learned is that it may be possible to launch our company without a round of outside funding. We have always gone into this thinking that funding is required in order to guarantee our success and have steady growth. Based on our marketing plan and projected revenues, we may be able reach our initial milestones by self funding the project. For any startup, I’m sure you can understand how elated we were to discover this possibility nd what it means to the business.

We have run into a few problems on the development side. Its going a little slower than expected, but we are on course to be into beta in the next 30 days. We are adding new features to the site that will make it more friendly towards designers and provide more benefits for larger clients. We hope to capture a more broader audience than our competitors and provide services that they lack, but without going outside of the scope of our business.

Our economy is in the tank right now and I don’t think its getting any better anytime soon. Fortunately for everyone involved in this panel, I think we are in the right business for these hard times - web based services. While gas prices are going up and people do less traveling, they are turning to the Web to get things done, save time and money. I see the economy tanking as a positive thing for those of us in this business. It seams to me that the web community, internet ventures and startups are gaining more momentum and there is a good buzz about the direction of the industry.

How To Split An Atom’s Startup Reactor has been brought to you in part by the following sponsors -

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