The question is an age-old one — why hire a professional if you can do the job yourself? For anyone who has ever tried to do their own plumbing perhaps they will have a different perspective on the issue, but the fact remains that while there are many things a person can DIY for their own business others are best left to the professional.
First, as your business begins to develop you will realize that you can build a pretty great following without a lot of fancy branding or design work. Real success is built on solid networking and while branding can certainly help your customers remember your "face," it is not going to be the difference between boom or bust.
With that said, if you're on a tight budget you can easily create a professional-looking logo with any of the online logo design software that has been reviewed on this site such as LogoSmartz and many others. The time to get up-to-speed will differ with each but you can easily achieve something that will get the ball rolling.
Once your business is established and you're past the "start-up stage" and more into the "where do we go from here" phase, this is the time to consider hiring a professional designer. The reason is simple: a professional will be able to view your design needs at a macro level and has experiences and expertise that can help you move down a path where the results are not about what you like, but what your customers will like!
Ultimately this is the main goal, and one of the biggest mistakes that novice business folks fail to realize. Your products, services, and your brand and marketing strategies must all focus on what your customer likes, and not what "looks nice" to you. Being so close to the business yourself, a professional designer may be able to suggest ideas that had never occurred to you but that fit your business like a glove.
In the end, most likely your budget will determine whether you choose to create your own logo with online logo design software, or whether you seek professional help. If you decide to take the DIY route then do your homework and research the market. Find out what your competitors are doing well in terms of marketing and branding and see if you can do something similar for your own business. Remember that DIY does mean "less expensive" but it won't always mean "better quality."
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