Our startup project Coworkify is now looking for new logo design. We’ve held a contest at 99designs and we had more than a hundred logos submitted in 4 days.
Cost we paid was $295 including various transaction fees and cut for platform holder. It’s just $3 for each design. Although quality of every logo varies a lot, it’s still huge time saving to us. If we were to produce a hundred logos by ourselves, it would have costed us more.
During product building phase of startup an entrepreneur must focus on one thing, which is to build a product in the most efficient way in a short period of time. At this phase he should not spend time on building a great team for future growth. All of his energy has to go into a product and people who can produce it.
For those who are willing to outsource some creative work I recommend that you take a look at 99designs, Hatchwise, Bootb, Prizes.