What I Learned in My 54 Hour Skribit Blitz...

For the people who have been following this blog, we posted a video of Truemors a couple of months ago where Guy Kawasaki talked about how he started a web based business with $12k and a few weeks of time. Well, after this past weekend, Guy posted a truemor about the Atlanta Startup Project, Skribit and how we were able to start a web business with $0 financing.

Well $0 is of course a stretch, there were SOME costs... but what does $0 really mean? Well, here's the dirty dirty truth based on my observations.

$50 in domain names - I don't have the hard numbers but in registering our name and in registering a few more variations to protect the brand, we're looking at least $50 in expenses.

$1,000 in legal, misc fees. I admit, I completely ignored this part of the project, on purpose. I can't wrap my head around it.

$2,400 in food - we were fed; a lot... I can't say they were all great or healthy food, but we were well fed. There was also a ton of beers and drinks and so forth. If we didn't have this, people wouldn't stay.

$5,000 in office space - I'm not sure of the actual costs but I'll throw in $5,000 as an estimate for renting the entire floor of where we needed to be. In addition to the main room, the various groups worked out of several different, smaller conference rooms which was necessary or we'd probably end up with nothing.

$96,000 in laptops/equipment - If the 64 people who showed up came with just pen and paper, we probably wouldn't have accomplished too much in the 54 hour period. If you estimated the avg. laptop cost to be $1,500, then there would be close to $100,000 in equipment alone.

$185,000 in free labor - We worked about 36 actual hours... So if our average comes out to be $80 in consulting fees x 64 people, then that's how much work we've put in in that time.

Priceless - Things we got for free due to networking. Things we will get for free as a result of this weekend's networking. We got a few freebies from this weekend. A few months of web hosting... a few connections into the blogger world, connections to VC's in the event this project takes off. All great and amazing things if you're a struggling startup.

Even MORE Priceless, internal networking - You know how hard it is to find people who don't make excuses, have a variety of talents, hop over any and all obstacles and apply that determination to businesses? Close to impossible. I'm really glad I was able to experience it cause... without seeing it for myself, it would have been hard to believe.

So is free really free? No, not really. Even though I worked about a week's worth of hours in 2.5 days, I guess the difference is that we all think this project may turnout to be greater than the $290,000 of Monopoly money (and effort) we invested.

All I've gotta say is... if it's possible to get $300,000 to start a company, find a group of smart business "snipers" who come in, do what's needed and hop out, I would be all over it. After all, in the web world speed and execution is way more valuable than the alternative.